CRMAX vs. ATGAX

Last updated Jun 5, 2026

CRMAX (CRM Small/Mid Cap Value Fund) and ATGAX (Aquila Opportunity Growth Fund) are both Mid Cap Blend Equities funds. With a 1.00 correlation, they move nearly in lockstep. CRMAX charges 1.19%/yr vs 1.50%/yr for ATGAX.

Performance

CRMAX vs. ATGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CRM Small/Mid Cap Value Fund (CRMAX) and Aquila Opportunity Growth Fund (ATGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CRMAX

• 1D: -1.34%
• 1M: 6.46%
• YTD: 17.21%
• 6M: 16.67%
• 1Y: 35.96%
• 3Y*: 16.12%
• 5Y*: 6.89%
• 10Y*: 11.00%

ATGAX

• 1D: -0.36%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRMAX vs. ATGAX - Yearly Performance Comparison

	2026 (YTD)
CRMAX CRM Small/Mid Cap Value Fund	-0.00%
ATGAX Aquila Opportunity Growth Fund	1.66%

Correlation

The correlation between CRMAX and ATGAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	1.00

Return for Risk

CRMAX vs. ATGAX — Risk / Return Rank

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

CRMAX

CRMAX Risk / Return Rank: 45
CRMAX Sharpe Ratio Rank: 42
CRMAX Sortino Ratio Rank: 43
CRMAX Omega Ratio Rank: 37
CRMAX Calmar Ratio Rank: 56
CRMAX Martin Ratio Rank: 48

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.

CRMAX vs. ATGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CRM Small/Mid Cap Value Fund (CRMAX) and Aquila Opportunity Growth Fund (ATGAX). 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.

	CRMAX	ATGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	—	—
Sortino ratio: Return per unit of downside risk	2.69	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.81	—	—
Martin ratio: Return relative to average drawdown	9.85	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CRMAX	ATGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	18.80	-18.33

Drawdowns

CRMAX vs. ATGAX - Drawdown Comparison

The maximum CRMAX drawdown since its inception was -49.36%, which is greater than ATGAX's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for CRMAX and ATGAX.

Drawdown Indicators

	CRMAX	ATGAX	Difference
Max Drawdown Largest peak-to-trough decline	-49.36%	-0.36%	-49.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-27.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.56%	—	—
Current Drawdown Current decline from peak	-1.34%	-0.36%	-0.98%
Average Drawdown Average peak-to-trough decline	-7.94%	-0.09%	-7.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	—	—

Volatility

Volatility by Period

	CRMAX	ATGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.60%	11.18%	+8.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.10%	11.18%	+8.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.74%	11.18%	+9.56%

CRMAX vs. ATGAX - Expense Ratio Comparison

CRMAX has a 1.19% expense ratio, which is lower than ATGAX's 1.50% expense ratio.

Dividends

CRMAX vs. ATGAX - Dividend Comparison

CRMAX's dividend yield for the trailing twelve months is around 4.46%, while ATGAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CRMAX CRM Small/Mid Cap Value Fund	4.46%	5.23%	15.07%	0.64%	6.41%	35.31%	5.86%	2.68%	18.13%	29.30%	2.13%	12.11%

Frequently Asked Questions

Can I hold both CRMAX and ATGAX in my portfolio?

With a correlation of 1.00, CRMAX and ATGAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.