FMIUX vs. AVALX
FMIUX (FMI Common Stock Fund Institutional Class) and AVALX (Aegis Value Fund Class I) are both Small Cap Value Equities funds. Both are actively managed. Over the past 5 years, FMIUX returned 10.81%/yr vs 22.70%/yr for AVALX. Their 0.49 correlation means their historical movements had little consistent relationship. FMIUX charges 0.84%/yr vs 1.36%/yr for AVALX.
Performance
FMIUX vs. AVALX - Performance Comparison
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Returns By Period
In the year-to-date period, FMIUX achieves a 18.62% return, which is significantly higher than AVALX's 17.01% return.
FMIUX
- 1D
- -0.78%
- 1M
- 2.67%
- 6M
- 11.95%
- YTD
- 18.62%
- 1Y
- 18.01%
- 3Y*
- 12.91%
- 5Y*
- 10.81%
- 10Y*
- —
- ALL TIME*
- 11.44%
AVALX
- 1D
- 2.16%
- 1M
- 4.61%
- 6M
- 7.17%
- YTD
- 17.01%
- 1Y
- 51.60%
- 3Y*
- 29.28%
- 5Y*
- 22.70%
- 10Y*
- 19.27%
- ALL TIME*
- 11.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FMIUX vs. AVALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMIUX FMI Common Stock Fund Institutional Class | 18.62% | 2.20% | 10.53% | 25.01% | -5.83% | 30.64% | 5.91% | 24.95% | -8.66% | 13.17% |
AVALX Aegis Value Fund Class I | 17.01% | 67.06% | 8.29% | 13.11% | 10.50% | 37.67% | 18.89% | 25.67% | -16.95% | 17.37% |
Correlation
The correlation between FMIUX and AVALX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.49 |
Over the past year, the correlation between FMIUX and AVALX has dropped to 0.24 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
FMIUX vs. AVALX — Risk / Return Rank
FMIUX
AVALX
FMIUX vs. AVALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FMI Common Stock Fund Institutional Class (FMIUX) and Aegis Value Fund Class I (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.
| FMIUX | AVALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.49 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 5.02 | -3.92 |
| Martin ratioReturn relative to average drawdown | 2.73 | 14.90 | -12.17 |
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Drawdowns
FMIUX vs. AVALX - Drawdown Comparison
The maximum FMIUX drawdown since its inception was -38.04%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for FMIUX and AVALX.
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Drawdown Indicators
| FMIUX | AVALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.04% | -73.72% | +35.68% |
Max Drawdown (1Y)Largest decline over 1 year | -13.78% | -10.12% | -3.66% |
Max Drawdown (3Y)Largest decline over 3 years | -21.27% | -13.59% | -7.68% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | -32.00% | +10.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.34% | — |
Current DrawdownCurrent decline from peak | -0.78% | -4.64% | +3.86% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -10.92% | +6.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.55% | 3.40% | +2.15% |
Volatility
FMIUX vs. AVALX - Volatility Comparison
FMI Common Stock Fund Institutional Class (FMIUX) has a higher volatility of 5.15% compared to Aegis Value Fund Class I (AVALX) at 4.85%. This indicates that FMIUX'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
| FMIUX | AVALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 4.85% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.69% | 13.69% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 17.70% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.66% | 22.17% | -3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.50% | 22.15% | -2.65% |
FMIUX vs. AVALX - Expense Ratio Comparison
FMIUX has a 0.84% expense ratio, which is lower than AVALX's 1.36% expense ratio.
Dividends
FMIUX vs. AVALX - Dividend Comparison
FMIUX's dividend yield for the trailing twelve months is around 11.31%, more than AVALX's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVALX Aegis Value Fund Class I | 2.00% | 2.34% | 7.07% | 2.23% | 0.16% | 0.00% | 6.62% | 2.36% | 6.18% | 0.00% | 1.45% | 0.04% |
FMIUX FMI Common Stock Fund Institutional Class | 11.31% | 13.42% | 2.14% | 2.92% | 6.76% | 12.56% | 0.85% | 5.01% | 10.33% | 11.84% | 0.00% | 0.00% |
Frequently Asked Questions
FMIUX and AVALX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMIUX has higher volatility (5.15%) compared to AVALX (4.85%). In terms of maximum drawdown, FMIUX dropped -38.04% vs AVALX's -73.72%.
AVALX currently has the higher Sharpe Ratio (2.89 vs 0.86), 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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