CTEF vs. AVALX

Last updated Jun 9, 2026

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. At a 0.29 correlation, their price movements are largely independent. CTEF charges 0.45%/yr vs 1.50%/yr for AVALX.

Performance

CTEF vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castellan Targeted Equity ETF (CTEF) and Aegis Value Fund (AVALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTEF achieves a 27.48% return, which is significantly higher than AVALX's 17.03% return.

CTEF

• 1D: 1.50%
• 1M: 4.26%
• YTD: 27.48%
• 6M: 28.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVALX

• 1D: -3.76%
• 1M: -2.96%
• YTD: 17.03%
• 6M: 20.24%
• 1Y: 52.02%
• 3Y*: 32.16%
• 5Y*: 20.70%
• 10Y*: 19.75%

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

CTEF vs. AVALX - Yearly Performance Comparison

	2026 (YTD)	2025
CTEF Castellan Targeted Equity ETF	27.48%	33.22%
AVALX Aegis Value Fund	17.03%	28.25%

Correlation

The correlation between CTEF and AVALX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.29

Return for Risk

CTEF vs. AVALX — Risk / Return Rank

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

AVALX

AVALX Risk / Return Rank: 89
AVALX Sharpe Ratio Rank: 92
AVALX Sortino Ratio Rank: 80
AVALX Omega Ratio Rank: 82
AVALX Calmar Ratio Rank: 96
AVALX Martin Ratio Rank: 95

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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CTEF	AVALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.05	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.33	0.53	+2.81

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.

Drawdown Indicators

	CTEF	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-15.00%	-73.72%	+58.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.32%	—
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 Drawdown Current decline from peak	-1.85%	-4.62%	+2.77%
Average Drawdown Average peak-to-trough decline	-1.79%	-10.94%	+9.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.38%	—

Volatility

Volatility by Period

	CTEF	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.00%	17.18%	+4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.00%	22.27%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.00%	22.18%	-0.18%

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 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	2.00%	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

Can I hold both CTEF and AVALX in my portfolio?

CTEF and AVALX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.