CCASX vs. VLUE
CCASX (Conestoga Small Cap) and VLUE (iShares MSCI USA Value Factor ETF) are both funds - CCASX is a Small Cap Growth Equities fund managed by Conestoga Capital Advisors, while VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Over the past 10 years, CCASX returned 9.52%/yr vs 15.56%/yr for VLUE. A 0.71 correlation means they provide meaningful diversification when combined. CCASX charges 1.10%/yr vs 0.15%/yr for VLUE.
Performance
CCASX vs. VLUE - Performance Comparison
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Returns By Period
In the year-to-date period, CCASX achieves a 3.54% return, which is significantly lower than VLUE's 45.30% return. Over the past 10 years, CCASX has underperformed VLUE with an annualized return of 9.52%, while VLUE has yielded a comparatively higher 15.56% annualized return.
CCASX
- 1D
- -0.88%
- 1M
- 2.92%
- YTD
- 3.54%
- 6M
- 1.29%
- 1Y
- 1.15%
- 3Y*
- 2.34%
- 5Y*
- -0.72%
- 10Y*
- 9.52%
VLUE
- 1D
- -3.46%
- 1M
- 5.59%
- YTD
- 45.30%
- 6M
- 44.72%
- 1Y
- 81.73%
- 3Y*
- 32.50%
- 5Y*
- 16.52%
- 10Y*
- 15.56%
CCASX vs. VLUE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CCASX Conestoga Small Cap | 3.54% | -11.00% | 8.74% | 22.13% | -28.32% | 16.02% | 30.34% | 25.18% | 0.60% | 28.42% |
VLUE iShares MSCI USA Value Factor ETF | 45.30% | 32.67% | 7.25% | 14.26% | -14.17% | 28.93% | -0.23% | 27.20% | -11.13% | 21.95% |
Correlation
The correlation between CCASX and VLUE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.71 |
The correlation between CCASX and VLUE shifts across timeframes, from 0.62 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CCASX vs. VLUE — Risk / Return Rank
CCASX
VLUE
CCASX vs. VLUE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Conestoga Small Cap (CCASX) and iShares MSCI USA Value Factor ETF (VLUE). 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.
| CCASX | VLUE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.99 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.73 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 9.09 | -8.88 |
| Martin ratioReturn relative to average drawdown | 0.55 | 38.03 | -37.48 |
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Drawdowns
CCASX vs. VLUE - Drawdown Comparison
The maximum CCASX drawdown since its inception was -48.00%, which is greater than VLUE's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for CCASX and VLUE.
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Drawdown Indicators
| CCASX | VLUE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.00% | -39.47% | -8.53% |
Max Drawdown (1Y)Largest decline over 1 year | -14.51% | -9.04% | -5.47% |
Max Drawdown (3Y)Largest decline over 3 years | -27.74% | -17.89% | -9.85% |
Max Drawdown (5Y)Largest decline over 5 years | -38.14% | -27.12% | -11.02% |
Max Drawdown (10Y)Largest decline over 10 years | -38.14% | -39.47% | +1.33% |
Current DrawdownCurrent decline from peak | -16.84% | -3.46% | -13.38% |
Average DrawdownAverage peak-to-trough decline | -9.21% | -6.00% | -3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.58% | 2.16% | +3.42% |
Volatility
CCASX vs. VLUE - Volatility Comparison
The current volatility for Conestoga Small Cap (CCASX) is 5.08%, while iShares MSCI USA Value Factor ETF (VLUE) has a volatility of 9.76%. This indicates that CCASX experiences smaller price fluctuations and is considered to be less risky than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCASX | VLUE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 9.76% | -4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 13.89% | 16.13% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 19.07% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.83% | 18.12% | +3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.52% | 19.95% | +1.57% |
CCASX vs. VLUE - Expense Ratio Comparison
CCASX has a 1.10% expense ratio, which is higher than VLUE's 0.15% expense ratio.
Dividends
CCASX vs. VLUE - Dividend Comparison
CCASX's dividend yield for the trailing twelve months is around 5.39%, more than VLUE's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCASX Conestoga Small Cap | 5.39% | 5.58% | 0.00% | 0.86% | 4.12% | 5.27% | 0.00% | 2.14% | 1.46% | 5.63% | 1.18% | 1.88% |
VLUE iShares MSCI USA Value Factor ETF | 1.42% | 2.11% | 2.73% | 2.66% | 3.18% | 2.22% | 2.42% | 2.61% | 2.70% | 2.14% | 2.07% | 2.39% |
Frequently Asked Questions
CCASX and VLUE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLUE has higher volatility (9.76%) compared to CCASX (5.08%). In terms of maximum drawdown, CCASX dropped -48.00% vs VLUE's -39.47%.
VLUE currently has the higher Sharpe Ratio (4.31 vs 0.16), 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.
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