AQEIX vs. LKBAX

Last updated Jun 4, 2026

AQEIX (LKCM Aquinas Catholic Equity Fund) and LKBAX (LKCM Balanced Fund) are both mutual funds - AQEIX is a Large Cap Growth Equities fund managed by LKCM, while LKBAX is a Diversified Portfolio fund managed by LKCM. Over the past 10 years, AQEIX returned 10.81%/yr vs 8.15%/yr for LKBAX. Their correlation of 0.93 suggests significant overlap in exposure. AQEIX charges 1.00%/yr vs 0.80%/yr for LKBAX.

Performance

AQEIX vs. LKBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LKCM Aquinas Catholic Equity Fund (AQEIX) and LKCM Balanced Fund (LKBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQEIX achieves a 3.05% return, which is significantly higher than LKBAX's 2.48% return. Over the past 10 years, AQEIX has outperformed LKBAX with an annualized return of 10.81%, while LKBAX has yielded a comparatively lower 8.15% annualized return.

AQEIX

• 1D: -0.60%
• 1M: 0.61%
• YTD: 3.05%
• 6M: 1.81%
• 1Y: 9.35%
• 3Y*: 10.69%
• 5Y*: 5.41%
• 10Y*: 10.81%

LKBAX

• 1D: -0.14%
• 1M: 1.05%
• YTD: 2.48%
• 6M: 2.77%
• 1Y: 8.58%
• 3Y*: 9.81%
• 5Y*: 4.77%
• 10Y*: 8.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AQEIX vs. LKBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQEIX LKCM Aquinas Catholic Equity Fund	3.05%	6.72%	13.29%	14.08%	-18.24%	25.35%	24.23%	30.51%	-8.03%	20.80%
LKBAX LKCM Balanced Fund	2.48%	8.44%	10.97%	10.85%	-13.86%	14.01%	15.28%	21.86%	-2.15%	12.88%

Correlation

The correlation between AQEIX and LKBAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 31, 1997	0.93

The correlation between AQEIX and LKBAX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

AQEIX vs. LKBAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AQEIX

AQEIX Risk / Return Rank: 14
AQEIX Sharpe Ratio Rank: 12
AQEIX Sortino Ratio Rank: 12
AQEIX Omega Ratio Rank: 11
AQEIX Calmar Ratio Rank: 17
AQEIX Martin Ratio Rank: 20

LKBAX

LKBAX Risk / Return Rank: 21
LKBAX Sharpe Ratio Rank: 20
LKBAX Sortino Ratio Rank: 19
LKBAX Omega Ratio Rank: 19
LKBAX Calmar Ratio Rank: 19
LKBAX Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AQEIX vs. LKBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LKCM Aquinas Catholic Equity Fund (AQEIX) and LKCM Balanced Fund (LKBAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AQEIX	LKBAX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.29	-0.36
Sortino ratio: Return per unit of downside risk	1.35	1.84	-0.49
Omega ratio: Gain probability vs. loss probability	1.16	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	1.47	1.57	-0.10
Martin ratio: Return relative to average drawdown	5.32	6.32	-1.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQEIX vs. LKBAX - Sharpe Ratio Comparison

The current AQEIX Sharpe Ratio is 0.93, which is comparable to the LKBAX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of AQEIX and LKBAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AQEIX	LKBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.29	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.44	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.69	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.57	-0.17

Drawdowns

AQEIX vs. LKBAX - Drawdown Comparison

The maximum AQEIX drawdown since its inception was -54.20%, which is greater than LKBAX's maximum drawdown of -31.40%. Use the drawdown chart below to compare losses from any high point for AQEIX and LKBAX.

Drawdown Indicators

	AQEIX	LKBAX	Difference
Max Drawdown Largest peak-to-trough decline	-54.20%	-31.40%	-22.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.02%	-5.71%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-19.25%	-11.65%	-7.60%
Max Drawdown (5Y) Largest decline over 5 years	-24.51%	-19.63%	-4.88%
Max Drawdown (10Y) Largest decline over 10 years	-33.65%	-26.04%	-7.61%
Current Drawdown Current decline from peak	-0.60%	-0.14%	-0.46%
Average Drawdown Average peak-to-trough decline	-8.70%	-4.28%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.42%	+0.52%

Volatility

AQEIX vs. LKBAX - Volatility Comparison

LKCM Aquinas Catholic Equity Fund (AQEIX) has a higher volatility of 2.95% compared to LKCM Balanced Fund (LKBAX) at 1.61%. This indicates that AQEIX's price experiences larger fluctuations and is considered to be riskier than LKBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQEIX	LKBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	1.61%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	7.94%	5.22%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	6.97%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.56%	10.84%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	11.89%	+6.26%

AQEIX vs. LKBAX - Expense Ratio Comparison

AQEIX has a 1.00% expense ratio, which is higher than LKBAX's 0.80% expense ratio.

Dividends

AQEIX vs. LKBAX - Dividend Comparison

AQEIX's dividend yield for the trailing twelve months is around 5.80%, less than LKBAX's 5.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQEIX LKCM Aquinas Catholic Equity Fund	5.80%	5.98%	7.90%	2.63%	6.05%	12.61%	6.73%	10.98%	23.36%	8.24%	7.92%	7.69%
LKBAX LKCM Balanced Fund	5.87%	6.00%	4.60%	3.49%	3.59%	4.41%	4.18%	5.95%	3.02%	4.09%	5.06%	3.50%

Frequently Asked Questions

Can I hold both AQEIX and LKBAX in my portfolio?

With a correlation of 0.92, AQEIX and LKBAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AQEIX or LKBAX?

AQEIX has higher volatility (2.95%) compared to LKBAX (1.61%). In terms of maximum drawdown, AQEIX dropped -54.20% vs LKBAX's -31.40%.

Which has better risk-adjusted returns?

LKBAX currently has the higher Sharpe Ratio (1.29 vs 0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.