AVEAX vs. PKSFX

Last updated Jun 4, 2026

AVEAX (Ave Maria Focused Fund) and PKSFX (Virtus KAR Small-Cap Core Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, AVEAX returned 5.43%/yr vs 7.76%/yr for PKSFX. A 0.74 correlation means they provide meaningful diversification when combined. AVEAX charges 1.14%/yr vs 1.00%/yr for PKSFX.

Performance

AVEAX vs. PKSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ave Maria Focused Fund (AVEAX) and Virtus KAR Small-Cap Core Fund (PKSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVEAX achieves a 9.55% return, which is significantly higher than PKSFX's 3.17% return.

AVEAX

• 1D: 1.56%
• 1M: -0.74%
• YTD: 9.55%
• 6M: 9.21%
• 1Y: 8.00%
• 3Y*: 15.20%
• 5Y*: 5.43%
• 10Y*: —

PKSFX

• 1D: -0.10%
• 1M: -1.03%
• YTD: 3.17%
• 6M: 3.35%
• 1Y: 3.59%
• 3Y*: 10.77%
• 5Y*: 7.76%
• 10Y*: 14.68%

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

AVEAX vs. PKSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AVEAX Ave Maria Focused Fund	9.55%	4.71%	11.52%	38.73%	-34.98%	27.98%	24.71%
PKSFX Virtus KAR Small-Cap Core Fund	3.17%	-2.58%	13.67%	32.32%	-10.77%	19.03%	38.50%

Correlation

The correlation between AVEAX and PKSFX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 4, 2020	0.74

The correlation between AVEAX and PKSFX has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

AVEAX vs. PKSFX — Risk / Return Rank

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

AVEAX

AVEAX Risk / Return Rank: 5
AVEAX Sharpe Ratio Rank: 5
AVEAX Sortino Ratio Rank: 5
AVEAX Omega Ratio Rank: 5
AVEAX Calmar Ratio Rank: 6
AVEAX Martin Ratio Rank: 5

PKSFX

PKSFX Risk / Return Rank: 4
PKSFX Sharpe Ratio Rank: 4
PKSFX Sortino Ratio Rank: 5
PKSFX Omega Ratio Rank: 4
PKSFX Calmar Ratio Rank: 5
PKSFX Martin Ratio Rank: 4

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.

AVEAX vs. PKSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ave Maria Focused Fund (AVEAX) and Virtus KAR Small-Cap Core Fund (PKSFX). 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.

	AVEAX	PKSFX	Difference
Sharpe ratio: Return per unit of total volatility	0.42	0.30	+0.12
Sortino ratio: Return per unit of downside risk	0.69	0.57	+0.12
Omega ratio: Gain probability vs. loss probability	1.09	1.06	+0.02
Calmar ratio: Return relative to maximum drawdown	0.52	0.41	+0.10
Martin ratio: Return relative to average drawdown	1.31	0.87	+0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVEAX vs. PKSFX - Sharpe Ratio Comparison

The current AVEAX Sharpe Ratio is 0.42, which is higher than the PKSFX Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of AVEAX and PKSFX, 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

	AVEAX	PKSFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	0.30	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.43	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.56	-0.08

Drawdowns

AVEAX vs. PKSFX - Drawdown Comparison

The maximum AVEAX drawdown since its inception was -44.09%, smaller than the maximum PKSFX drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for AVEAX and PKSFX.

Drawdown Indicators

	AVEAX	PKSFX	Difference
Max Drawdown Largest peak-to-trough decline	-44.09%	-54.46%	+10.37%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-11.19%	-4.31%
Max Drawdown (3Y) Largest decline over 3 years	-19.91%	-21.82%	+1.91%
Max Drawdown (5Y) Largest decline over 5 years	-44.09%	-22.02%	-22.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.45%	—
Current Drawdown Current decline from peak	-3.52%	-7.97%	+4.45%
Average Drawdown Average peak-to-trough decline	-11.54%	-7.17%	-4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.11%	5.34%	+0.77%

Volatility

AVEAX vs. PKSFX - Volatility Comparison

Ave Maria Focused Fund (AVEAX) has a higher volatility of 4.65% compared to Virtus KAR Small-Cap Core Fund (PKSFX) at 4.22%. This indicates that AVEAX's price experiences larger fluctuations and is considered to be riskier than PKSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEAX	PKSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	4.22%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	13.30%	10.99%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	19.15%	15.31%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.06%	17.93%	+5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.93%	18.83%	+3.10%

AVEAX vs. PKSFX - Expense Ratio Comparison

AVEAX has a 1.14% expense ratio, which is higher than PKSFX's 1.00% expense ratio.

Dividends

AVEAX vs. PKSFX - Dividend Comparison

AVEAX has not paid dividends to shareholders, while PKSFX's dividend yield for the trailing twelve months is around 13.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVEAX Ave Maria Focused Fund	0.00%	0.00%	0.00%	0.00%	0.00%	4.56%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%
PKSFX Virtus KAR Small-Cap Core Fund	13.86%	14.30%	4.07%	4.12%	6.65%	12.05%	7.45%	4.03%	4.33%	0.17%	5.69%	19.83%

Frequently Asked Questions

Can I hold both AVEAX and PKSFX in my portfolio?

AVEAX and PKSFX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVEAX or PKSFX?

AVEAX has higher volatility (4.65%) compared to PKSFX (4.22%). In terms of maximum drawdown, AVEAX dropped -44.09% vs PKSFX's -54.46%.

Which has better risk-adjusted returns?

AVEAX currently has the higher Sharpe Ratio (0.42 vs 0.30), 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.