CTEF vs. AVALX
CTEF (Castellan Targeted Equity ETF) and AVALX (Aegis Value Fund) are both funds - CTEF is a Mid Cap Blend Equities fund actively managed by Castellan, while AVALX is a Small Cap Value Equities fund managed by Aegis. Over the past year, CTEF returned 64.32% vs 47.88% for AVALX. At a 0.28 correlation, their price movements are largely independent. CTEF charges 0.45%/yr vs 1.50%/yr for AVALX.
Performance
CTEF vs. AVALX - Performance Comparison
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Returns By Period
In the year-to-date period, CTEF achieves a 33.21% return, which is significantly higher than AVALX's 14.98% return.
CTEF
- 1D
- 0.33%
- 1M
- -4.17%
- 6M
- 28.28%
- YTD
- 33.21%
- 1Y
- 64.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 69.37%
AVALX
- 1D
- 0.18%
- 1M
- 0.40%
- 6M
- 8.62%
- YTD
- 14.98%
- 1Y
- 47.88%
- 3Y*
- 28.45%
- 5Y*
- 22.62%
- 10Y*
- 19.08%
- ALL TIME*
- 11.24%
CTEF vs. AVALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTEF Castellan Targeted Equity ETF | 33.21% | 33.10% |
AVALX Aegis Value Fund | 14.98% | 27.00% |
Correlation
The correlation between CTEF and AVALX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025 | 0.28 |
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Return for Risk
CTEF vs. AVALX — Risk / Return Rank
CTEF
AVALX
CTEF vs. AVALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Castellan Targeted Equity ETF (CTEF) and Aegis Value Fund (AVALX). 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.
| CTEF | AVALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.31 | 4.82 | -0.51 |
| Martin ratioReturn relative to average drawdown | 19.08 | 14.77 | +4.31 |
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Drawdowns
CTEF vs. AVALX - Drawdown Comparison
The maximum CTEF drawdown since its inception was -15.00%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for CTEF and AVALX.
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Drawdown Indicators
| CTEF | AVALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.00% | -73.72% | +58.72% |
Max Drawdown (1Y)Largest decline over 1 year | -15.00% | -10.12% | -4.88% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.59% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.34% | — |
Current DrawdownCurrent decline from peak | -5.75% | -6.29% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -10.93% | +9.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 3.29% | +0.09% |
Volatility
CTEF vs. AVALX - Volatility Comparison
Castellan Targeted Equity ETF (CTEF) has a higher volatility of 6.70% compared to Aegis Value Fund (AVALX) at 4.45%. This indicates that CTEF's price experiences larger fluctuations and is considered to be riskier than AVALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CTEF | AVALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.70% | 4.45% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 19.32% | 13.37% | +5.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.21% | 17.39% | +5.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.50% | 22.24% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.50% | 22.13% | +0.37% |
CTEF vs. AVALX - Expense Ratio Comparison
CTEF has a 0.45% expense ratio, which is lower than AVALX's 1.50% expense ratio.
Dividends
CTEF vs. AVALX - Dividend Comparison
CTEF's dividend yield for the trailing twelve months is around 0.06%, less than AVALX's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVALX Aegis Value Fund | 2.03% | 2.34% | 7.07% | 2.23% | 0.16% | 0.00% | 6.62% | 2.36% | 6.18% | 0.00% | 1.45% | 0.04% |
CTEF Castellan Targeted Equity ETF | 0.06% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CTEF and AVALX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTEF has higher volatility (6.70%) compared to AVALX (4.45%). In terms of maximum drawdown, CTEF dropped -15.00% vs AVALX's -73.72%.
AVALX currently has the higher Sharpe Ratio (2.80 vs 2.79), 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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