CAAPX vs. ARGFX
Compare and contrast key facts about Ariel Appreciation Fund (CAAPX) and Ariel Fund (ARGFX).
CAAPX is managed by Ariel Investments. It was launched on Dec 1, 1989. ARGFX is managed by Ariel Investments. It was launched on Nov 6, 1986.
Performance
CAAPX vs. ARGFX - Performance Comparison
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CAAPX vs. ARGFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAAPX Ariel Appreciation Fund | -1.97% | 11.04% | 6.07% | 10.58% | -12.27% | 25.72% | 7.42% | 24.58% | -13.93% | 15.24% |
ARGFX Ariel Fund | -4.69% | 14.08% | 11.56% | 15.78% | -18.68% | 30.29% | 10.05% | 24.64% | -13.59% | 15.99% |
Returns By Period
In the year-to-date period, CAAPX achieves a -1.97% return, which is significantly higher than ARGFX's -4.69% return. Over the past 10 years, CAAPX has underperformed ARGFX with an annualized return of 7.58%, while ARGFX has yielded a comparatively higher 8.99% annualized return.
CAAPX
- 1D
- -0.60%
- 1M
- -11.01%
- YTD
- -1.97%
- 6M
- 0.95%
- 1Y
- 16.97%
- 3Y*
- 7.87%
- 5Y*
- 4.02%
- 10Y*
- 7.58%
ARGFX
- 1D
- -0.45%
- 1M
- -12.05%
- YTD
- -4.69%
- 6M
- -1.68%
- 1Y
- 18.19%
- 3Y*
- 9.60%
- 5Y*
- 4.48%
- 10Y*
- 8.99%
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CAAPX vs. ARGFX - Expense Ratio Comparison
CAAPX has a 1.12% expense ratio, which is higher than ARGFX's 1.00% expense ratio.
Return for Risk
CAAPX vs. ARGFX — Risk / Return Rank
CAAPX
ARGFX
CAAPX vs. ARGFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ariel Appreciation Fund (CAAPX) and Ariel Fund (ARGFX). 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.
| CAAPX | ARGFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.71 | 0.75 | -0.04 |
Sortino ratioReturn per unit of downside risk | 1.14 | 1.20 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.01 | -0.08 |
Martin ratioReturn relative to average drawdown | 3.11 | 3.32 | -0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CAAPX | ARGFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.75 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.20 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.40 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.53 | -0.04 |
Correlation
The correlation between CAAPX and ARGFX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CAAPX vs. ARGFX - Dividend Comparison
CAAPX's dividend yield for the trailing twelve months is around 13.12%, more than ARGFX's 12.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAAPX Ariel Appreciation Fund | 13.12% | 12.86% | 6.11% | 6.31% | 10.51% | 14.21% | 9.85% | 7.58% | 7.37% | 12.53% | 7.88% | 12.05% |
ARGFX Ariel Fund | 12.38% | 11.80% | 5.49% | 5.09% | 9.01% | 5.56% | 5.33% | 5.81% | 10.35% | 6.30% | 6.56% | 16.28% |
Drawdowns
CAAPX vs. ARGFX - Drawdown Comparison
The maximum CAAPX drawdown since its inception was -61.92%, smaller than the maximum ARGFX drawdown of -71.02%. Use the drawdown chart below to compare losses from any high point for CAAPX and ARGFX.
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Drawdown Indicators
| CAAPX | ARGFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.92% | -71.02% | +9.10% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -15.50% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -33.40% | -33.00% | -0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -42.58% | -45.29% | +2.71% |
Current DrawdownCurrent decline from peak | -11.66% | -12.36% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -8.47% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 4.72% | +0.05% |
Volatility
CAAPX vs. ARGFX - Volatility Comparison
Ariel Appreciation Fund (CAAPX) and Ariel Fund (ARGFX) have volatilities of 5.81% and 6.00%, 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.
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Volatility by Period
| CAAPX | ARGFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 6.00% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 13.62% | 13.80% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.51% | 24.52% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.18% | 22.29% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.13% | 22.74% | -0.61% |