DAVPX vs. PROVX

Last updated Jun 24, 2026

DAVPX (Davenport Core Fund) and PROVX (Provident Trust Strategy Fund) are both Large Cap Growth Equities funds. Over the past 10 years, DAVPX returned 12.19%/yr vs 13.22%/yr for PROVX. Their correlation of 0.86 suggests significant overlap in exposure. DAVPX charges 0.86%/yr vs 0.93%/yr for PROVX.

Performance

DAVPX vs. PROVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davenport Core Fund (DAVPX) and Provident Trust Strategy Fund (PROVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAVPX achieves a 4.89% return, which is significantly higher than PROVX's 1.80% return. Over the past 10 years, DAVPX has underperformed PROVX with an annualized return of 12.19%, while PROVX has yielded a comparatively higher 13.22% annualized return.

DAVPX

• 1D: -0.69%
• 1M: -0.67%
• YTD: 4.89%
• 6M: 4.05%
• 1Y: 11.52%
• 3Y*: 16.43%
• 5Y*: 9.48%
• 10Y*: 12.19%

PROVX

• 1D: -1.39%
• 1M: -2.54%
• YTD: 1.80%
• 6M: 0.95%
• 1Y: 19.35%
• 3Y*: 15.97%
• 5Y*: 6.86%
• 10Y*: 13.22%

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

DAVPX vs. PROVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DAVPX Davenport Core Fund	4.89%	10.73%	17.50%	28.98%	-20.01%	22.90%	13.78%	32.89%	-9.23%	19.86%
PROVX Provident Trust Strategy Fund	1.80%	13.10%	19.73%	17.59%	-22.62%	31.96%	19.47%	25.71%	-1.31%	29.40%

Correlation

The correlation between DAVPX and PROVX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.86

The correlation between DAVPX and PROVX shifts across timeframes, from 0.69 (1 year) to 0.88 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

DAVPX vs. PROVX — Risk / Return Rank

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

DAVPX

DAVPX Risk / Return Rank: 16
DAVPX Sharpe Ratio Rank: 16
DAVPX Sortino Ratio Rank: 15
DAVPX Omega Ratio Rank: 15
DAVPX Calmar Ratio Rank: 14
DAVPX Martin Ratio Rank: 19

PROVX

PROVX Risk / Return Rank: 33
PROVX Sharpe Ratio Rank: 37
PROVX Sortino Ratio Rank: 44
PROVX Omega Ratio Rank: 36
PROVX Calmar Ratio Rank: 22
PROVX Martin Ratio Rank: 26

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.

DAVPX vs. PROVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davenport Core Fund (DAVPX) and Provident Trust Strategy Fund (PROVX). 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.

	DAVPX	PROVX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.64	-0.59
Sortino ratio: Return per unit of downside risk	1.49	2.57	-1.08
Omega ratio: Gain probability vs. loss probability	1.19	1.30	-0.11
Calmar ratio: Return relative to maximum drawdown	1.21	1.63	-0.42
Martin ratio: Return relative to average drawdown	4.53	5.78	-1.25

DAVPX vs. PROVX - Sharpe Ratio Comparison

The current DAVPX Sharpe Ratio is 1.05, which is lower than the PROVX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of DAVPX and PROVX, 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

DAVPX vs. PROVX - Drawdown Comparison

The maximum DAVPX drawdown since its inception was -51.80%, smaller than the maximum PROVX drawdown of -57.65%. Use the drawdown chart below to compare losses from any high point for DAVPX and PROVX.

Drawdown Indicators

	DAVPX	PROVX	Difference
Max Drawdown Largest peak-to-trough decline	-51.80%	-57.65%	+5.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-12.54%	+2.07%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-15.92%	-1.33%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	-27.48%	+1.08%
Max Drawdown (10Y) Largest decline over 10 years	-34.99%	-27.48%	-7.51%
Current Drawdown Current decline from peak	-2.79%	-3.56%	+0.77%
Average Drawdown Average peak-to-trough decline	-8.33%	-13.17%	+4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	3.52%	-0.74%

Volatility

DAVPX vs. PROVX - Volatility Comparison

Davenport Core Fund (DAVPX) has a higher volatility of 4.47% compared to Provident Trust Strategy Fund (PROVX) at 3.83%. This indicates that DAVPX's price experiences larger fluctuations and is considered to be riskier than PROVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAVPX	PROVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	3.83%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	9.89%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.07%	12.49%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.81%	15.73%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	16.21%	+1.65%

DAVPX vs. PROVX - Expense Ratio Comparison

DAVPX has a 0.86% expense ratio, which is lower than PROVX's 0.93% expense ratio.

Dividends

DAVPX vs. PROVX - Dividend Comparison

DAVPX's dividend yield for the trailing twelve months is around 5.15%, less than PROVX's 16.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAVPX Davenport Core Fund	5.15%	4.43%	2.94%	6.31%	4.71%	8.10%	1.16%	2.24%	1.30%	2.48%	3.37%	3.97%
PROVX Provident Trust Strategy Fund	16.50%	16.80%	6.94%	4.61%	19.17%	0.35%	9.04%	4.40%	5.80%	1.54%	1.92%	7.73%

Frequently Asked Questions

Can I hold both DAVPX and PROVX in my portfolio?

DAVPX and PROVX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAVPX or PROVX?

DAVPX has higher volatility (4.47%) compared to PROVX (3.83%). In terms of maximum drawdown, DAVPX dropped -51.80% vs PROVX's -57.65%.

Which has better risk-adjusted returns?

PROVX currently has the higher Sharpe Ratio (1.64 vs 1.05), 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.