CAAPX vs. UMCVX
Compare and contrast key facts about Ariel Appreciation Fund (CAAPX) and Invesco V.I. American Value Fund (UMCVX).
CAAPX is managed by Ariel Investments. It was launched on Dec 1, 1989. UMCVX is managed by Invesco. It was launched on Jan 1, 1997.
Performance
CAAPX vs. UMCVX - Performance Comparison
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CAAPX vs. UMCVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAAPX Ariel Appreciation Fund | 1.14% | 11.04% | 6.07% | 10.58% | -12.27% | 25.72% | 7.42% | 24.58% | -13.93% | 15.24% |
UMCVX Invesco V.I. American Value Fund | 6.17% | 21.17% | 30.42% | 15.70% | -2.53% | 27.96% | 1.15% | 24.95% | -12.56% | 9.97% |
Returns By Period
In the year-to-date period, CAAPX achieves a 1.14% return, which is significantly lower than UMCVX's 6.17% return. Over the past 10 years, CAAPX has underperformed UMCVX with an annualized return of 7.91%, while UMCVX has yielded a comparatively higher 13.12% annualized return.
CAAPX
- 1D
- 3.17%
- 1M
- -7.38%
- YTD
- 1.14%
- 6M
- 3.93%
- 1Y
- 20.75%
- 3Y*
- 9.00%
- 5Y*
- 4.50%
- 10Y*
- 7.91%
UMCVX
- 1D
- 2.88%
- 1M
- -7.04%
- YTD
- 6.17%
- 6M
- 11.98%
- 1Y
- 36.13%
- 3Y*
- 26.35%
- 5Y*
- 15.92%
- 10Y*
- 13.12%
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CAAPX vs. UMCVX - Expense Ratio Comparison
CAAPX has a 1.12% expense ratio, which is higher than UMCVX's 0.89% expense ratio.
Return for Risk
CAAPX vs. UMCVX — Risk / Return Rank
CAAPX
UMCVX
CAAPX vs. UMCVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ariel Appreciation Fund (CAAPX) and Invesco V.I. American Value Fund (UMCVX). 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 | UMCVX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 1.55 | -0.71 |
Sortino ratioReturn per unit of downside risk | 1.32 | 2.09 | -0.77 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.32 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.31 | 2.32 | -1.01 |
Martin ratioReturn relative to average drawdown | 4.37 | 9.88 | -5.51 |
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 | UMCVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.55 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.59 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.53 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.42 | +0.08 |
Correlation
The correlation between CAAPX and UMCVX is 0.83, 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. UMCVX - Dividend Comparison
CAAPX's dividend yield for the trailing twelve months is around 12.72%, less than UMCVX's 15.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAAPX Ariel Appreciation Fund | 12.72% | 12.86% | 6.11% | 6.31% | 10.51% | 14.21% | 9.85% | 7.58% | 7.37% | 12.53% | 7.88% | 12.05% |
UMCVX Invesco V.I. American Value Fund | 15.78% | 16.76% | 3.11% | 25.58% | 23.66% | 0.42% | 1.65% | 8.19% | 19.87% | 1.91% | 5.79% | 15.77% |
Drawdowns
CAAPX vs. UMCVX - Drawdown Comparison
The maximum CAAPX drawdown since its inception was -61.92%, roughly equal to the maximum UMCVX drawdown of -59.30%. Use the drawdown chart below to compare losses from any high point for CAAPX and UMCVX.
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Drawdown Indicators
| CAAPX | UMCVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.92% | -59.30% | -2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -15.59% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -33.40% | -25.10% | -8.30% |
Max Drawdown (10Y)Largest decline over 10 years | -42.58% | -45.77% | +3.19% |
Current DrawdownCurrent decline from peak | -8.85% | -7.09% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -10.11% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.80% | 3.67% | +1.13% |
Volatility
CAAPX vs. UMCVX - Volatility Comparison
The current volatility for Ariel Appreciation Fund (CAAPX) is 6.86%, while Invesco V.I. American Value Fund (UMCVX) has a volatility of 7.58%. This indicates that CAAPX experiences smaller price fluctuations and is considered to be less risky than UMCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAAPX | UMCVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.86% | 7.58% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 13.97% | 14.67% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.66% | 23.60% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.22% | 27.16% | -4.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.15% | 25.10% | -2.95% |