CISMX vs. VETAX

Last updated Aug 1, 2026

CISMX (Clarkston Partners Fund) and VETAX (Victory Sycamore Established Value Fund Class A) are both Mid Cap Value Equities funds. Over the past 10 years, CISMX returned 6.79%/yr vs 10.76%/yr for VETAX. Their correlation of 0.86 means they have usually moved in the same direction. CISMX charges 1.00%/yr vs 0.89%/yr for VETAX.

Performance

CISMX vs. VETAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clarkston Partners Fund (CISMX) and Victory Sycamore Established Value Fund Class A (VETAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CISMX achieves a 9.60% return, which is significantly lower than VETAX's 14.22% return. Over the past 10 years, CISMX has underperformed VETAX with an annualized return of 6.79%, while VETAX has yielded a comparatively higher 10.76% annualized return.

CISMX

• 1D: -2.88%
• 1M: 0.58%
• 6M: 6.31%
• YTD: 9.60%
• 1Y: 12.37%
• 3Y*: 1.88%
• 5Y*: 1.64%
• 10Y*: 6.79%
• ALL TIME*: 7.34%

VETAX

• 1D: -0.47%
• 1M: -0.18%
• 6M: 8.08%
• YTD: 14.22%
• 1Y: 17.43%
• 3Y*: 9.35%
• 5Y*: 7.65%
• 10Y*: 10.76%
• ALL TIME*: 9.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CISMX Clarkston Partners Fund	$0.00	$0.00	$0.00
VETAX Victory Sycamore Established Value Fund Class A	$0.00	$0.00	$0.00

CISMX vs. VETAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CISMX Clarkston Partners Fund	9.60%	-8.37%	4.49%	6.41%	-0.40%	7.94%	17.42%	23.98%	-7.25%	12.84%
VETAX Victory Sycamore Established Value Fund Class A	14.22%	2.15%	9.80%	10.06%	-2.85%	31.49%	7.79%	28.38%	-10.33%	15.67%

Correlation

The correlation between CISMX and VETAX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Sep 22, 2015	0.86

Over the past year, the correlation between CISMX and VETAX has dropped to 0.63 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

CISMX vs. VETAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CISMX

CISMX Risk / Return Rank: 15
CISMX Sharpe Ratio Rank: 13
CISMX Sortino Ratio Rank: 15
CISMX Omega Ratio Rank: 13
CISMX Calmar Ratio Rank: 19
CISMX Martin Ratio Rank: 15

VETAX

VETAX Risk / Return Rank: 50
VETAX Sharpe Ratio Rank: 45
VETAX Sortino Ratio Rank: 52
VETAX Omega Ratio Rank: 42
VETAX Calmar Ratio Rank: 62
VETAX Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CISMX vs. VETAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clarkston Partners Fund (CISMX) and Victory Sycamore Established Value Fund Class A (VETAX). 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.

	CISMX	VETAX	Difference
Sharpe ratio: Return per unit of total volatility	0.51	1.31	-0.79
Sortino ratio: Return per unit of downside risk	0.89	2.02	-1.13
Omega ratio: Gain probability vs. loss probability	1.10	1.23	-0.13
Calmar ratio: Return relative to maximum drawdown	0.93	2.14	-1.21
Martin ratio: Return relative to average drawdown	2.02	6.82	-4.80

CISMX vs. VETAX - Sharpe Ratio Comparison

The current CISMX Sharpe Ratio is 0.51, which is lower than the VETAX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of CISMX and VETAX, 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

CISMX vs. VETAX - Drawdown Comparison

The maximum CISMX drawdown since its inception was -33.80%, smaller than the maximum VETAX drawdown of -48.94%. Use the drawdown chart below to compare losses from any high point for CISMX and VETAX.

Drawdown Indicators

	CISMX	VETAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.80%	-48.94%	+15.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.54%	-7.49%	-3.05%
Max Drawdown (3Y) Largest decline over 3 years	-21.19%	-20.47%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-21.19%	-20.47%	-0.72%
Max Drawdown (10Y) Largest decline over 10 years	-33.80%	-41.04%	+7.24%
Current Drawdown Current decline from peak	-6.19%	-1.47%	-4.72%
Average Drawdown Average peak-to-trough decline	-6.75%	-6.31%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.82%	2.35%	+2.47%

Volatility

CISMX vs. VETAX - Volatility Comparison

Clarkston Partners Fund (CISMX) has a higher volatility of 8.99% compared to Victory Sycamore Established Value Fund Class A (VETAX) at 2.64%. This indicates that CISMX's price experiences larger fluctuations and is considered to be riskier than VETAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CISMX	VETAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.99%	2.64%	+6.35%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	8.58%	+6.63%
Volatility (1Y) Calculated over the trailing 1-year period	19.00%	12.31%	+6.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	16.89%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.45%	19.17%	-0.72%

CISMX vs. VETAX - Expense Ratio Comparison

CISMX has a 1.00% expense ratio, which is higher than VETAX's 0.89% expense ratio.

Dividends

CISMX vs. VETAX - Dividend Comparison

CISMX's dividend yield for the trailing twelve months is around 4.25%, which matches VETAX's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CISMX Clarkston Partners Fund	4.25%	4.65%	1.05%	3.76%	16.95%	0.81%	3.73%	3.79%	7.15%	1.30%	1.17%	0.09%
VETAX Victory Sycamore Established Value Fund Class A	4.22%	4.31%	11.24%	5.86%	7.95%	8.10%	5.20%	5.81%	10.32%	3.03%	1.32%	11.27%

Frequently Asked Questions

Can I hold both CISMX and VETAX in my portfolio?

CISMX and VETAX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CISMX or VETAX?

CISMX has higher volatility (8.99%) compared to VETAX (2.64%). In terms of maximum drawdown, CISMX dropped -33.80% vs VETAX's -48.94%.

Which has better risk-adjusted returns?

VETAX currently has the higher Sharpe Ratio (1.31 vs 0.51), 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.