AVALX vs. VRTVX

Last updated Jun 24, 2026

AVALX (Aegis Value Fund) and VRTVX (Vanguard Russell 2000 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, AVALX returned 19.99%/yr vs 10.93%/yr for VRTVX. A 0.65 correlation means they provide meaningful diversification when combined. AVALX charges 1.50%/yr vs 0.08%/yr for VRTVX.

Performance

AVALX vs. VRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aegis Value Fund (AVALX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVALX achieves a 14.52% return, which is significantly lower than VRTVX's 21.21% return. Over the past 10 years, AVALX has outperformed VRTVX with an annualized return of 19.99%, while VRTVX has yielded a comparatively lower 10.93% annualized return.

AVALX

• 1D: 0.00%
• 1M: -4.84%
• YTD: 14.52%
• 6M: 13.82%
• 1Y: 50.78%
• 3Y*: 31.12%
• 5Y*: 21.13%
• 10Y*: 19.99%

VRTVX

• 1D: 0.47%
• 1M: 3.65%
• YTD: 21.21%
• 6M: 19.11%
• 1Y: 43.12%
• 3Y*: 19.49%
• 5Y*: 7.66%
• 10Y*: 10.93%

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

AVALX vs. VRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVALX Aegis Value Fund	14.52%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	17.37%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	21.21%	12.21%	8.07%	14.71%	-14.52%	28.06%	4.81%	22.40%	-12.83%	7.91%

Correlation

The correlation between AVALX and VRTVX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.65

The correlation between AVALX and VRTVX shifts across timeframes, from 0.51 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AVALX vs. VRTVX — Risk / Return Rank

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

AVALX

AVALX Risk / Return Rank: 89
AVALX Sharpe Ratio Rank: 92
AVALX Sortino Ratio Rank: 80
AVALX Omega Ratio Rank: 81
AVALX Calmar Ratio Rank: 96
AVALX Martin Ratio Rank: 95

VRTVX

VRTVX Risk / Return Rank: 83
VRTVX Sharpe Ratio Rank: 82
VRTVX Sortino Ratio Rank: 79
VRTVX Omega Ratio Rank: 67
VRTVX Calmar Ratio Rank: 95
VRTVX Martin Ratio Rank: 93

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.

AVALX vs. VRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aegis Value Fund (AVALX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVALX	VRTVX	Difference
Sharpe ratio: Return per unit of total volatility	2.84	2.48	+0.35
Sortino ratio: Return per unit of downside risk	3.49	3.45	+0.04
Omega ratio: Gain probability vs. loss probability	1.49	1.42	+0.07
Calmar ratio: Return relative to maximum drawdown	5.91	5.30	+0.61
Martin ratio: Return relative to average drawdown	19.70	18.02	+1.68

AVALX vs. VRTVX - Sharpe Ratio Comparison

The current AVALX Sharpe Ratio is 2.84, which is comparable to the VRTVX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of AVALX and VRTVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVALX vs. VRTVX - Drawdown Comparison

The maximum AVALX drawdown since its inception was -73.72%, which is greater than VRTVX's maximum drawdown of -45.98%. Use the drawdown chart below to compare losses from any high point for AVALX and VRTVX.

Drawdown Indicators

	AVALX	VRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-73.72%	-45.98%	-27.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.32%	-8.54%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-13.59%	-26.85%	+13.26%
Max Drawdown (5Y) Largest decline over 5 years	-32.00%	-26.85%	-5.15%
Max Drawdown (10Y) Largest decline over 10 years	-48.34%	-45.98%	-2.36%
Current Drawdown Current decline from peak	-6.67%	0.00%	-6.67%
Average Drawdown Average peak-to-trough decline	-10.94%	-7.75%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.51%	-0.01%

Volatility

AVALX vs. VRTVX - Volatility Comparison

Aegis Value Fund (AVALX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) have volatilities of 5.49% and 5.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVALX	VRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	5.28%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	13.30%	12.47%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	18.28%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.27%	21.66%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.18%	23.75%	-1.57%

AVALX vs. VRTVX - Expense Ratio Comparison

AVALX has a 1.50% expense ratio, which is higher than VRTVX's 0.08% expense ratio.

Dividends

AVALX vs. VRTVX - Dividend Comparison

AVALX's dividend yield for the trailing twelve months is around 2.04%, more than VRTVX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	2.04%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	1.65%	1.49%	1.84%	2.08%	2.15%	1.56%	1.54%	1.87%	2.17%	1.74%	1.52%	2.16%

Frequently Asked Questions

Can I hold both AVALX and VRTVX in my portfolio?

AVALX and VRTVX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVALX or VRTVX?

AVALX has higher volatility (5.49%) compared to VRTVX (5.28%). In terms of maximum drawdown, AVALX dropped -73.72% vs VRTVX's -45.98%.

Which has better risk-adjusted returns?

AVALX currently has the higher Sharpe Ratio (2.84 vs 2.48), 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.