GOODX vs. ARFFX

Last updated Jun 24, 2026

GOODX (GoodHaven Fund) and ARFFX (Ariel Focus Fund) are both Mid Cap Value Equities funds. Over the past 10 years, GOODX returned 10.14%/yr vs 10.63%/yr for ARFFX. Their correlation of 0.81 suggests significant overlap in exposure. GOODX charges 1.10%/yr vs 1.00%/yr for ARFFX.

Performance

GOODX vs. ARFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GoodHaven Fund (GOODX) and Ariel Focus Fund (ARFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOODX achieves a -0.66% return, which is significantly lower than ARFFX's 8.39% return. Both investments have delivered pretty close results over the past 10 years, with GOODX having a 10.14% annualized return and ARFFX not far ahead at 10.63%.

GOODX

• 1D: -0.53%
• 1M: -0.72%
• YTD: -0.66%
• 6M: -1.09%
• 1Y: 5.53%
• 3Y*: 13.35%
• 5Y*: 11.39%
• 10Y*: 10.14%

ARFFX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 8.39%
• 6M: 7.71%
• 1Y: 32.79%
• 3Y*: 17.24%
• 5Y*: 7.93%
• 10Y*: 10.63%

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

GOODX vs. ARFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOODX GoodHaven Fund	-0.66%	7.04%	18.87%	34.07%	-11.51%	35.97%	6.32%	19.03%	-9.76%	3.95%
ARFFX Ariel Focus Fund	8.39%	21.00%	13.39%	6.98%	-9.12%	21.14%	6.90%	25.62%	-13.23%	15.01%

Correlation

The correlation between GOODX and ARFFX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.81

The correlation between GOODX and ARFFX shifts across timeframes, from 0.73 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GOODX vs. ARFFX — Risk / Return Rank

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

GOODX

GOODX Risk / Return Rank: 6
GOODX Sharpe Ratio Rank: 6
GOODX Sortino Ratio Rank: 6
GOODX Omega Ratio Rank: 6
GOODX Calmar Ratio Rank: 7
GOODX Martin Ratio Rank: 6

ARFFX

ARFFX Risk / Return Rank: 75
ARFFX Sharpe Ratio Rank: 81
ARFFX Sortino Ratio Rank: 80
ARFFX Omega Ratio Rank: 71
ARFFX Calmar Ratio Rank: 89
ARFFX Martin Ratio Rank: 55

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.

GOODX vs. ARFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GoodHaven Fund (GOODX) and Ariel Focus Fund (ARFFX). 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.

	GOODX	ARFFX	Difference
Sharpe ratio: Return per unit of total volatility	0.47	2.45	-1.98
Sortino ratio: Return per unit of downside risk	0.74	3.48	-2.74
Omega ratio: Gain probability vs. loss probability	1.09	1.43	-0.34
Calmar ratio: Return relative to maximum drawdown	0.56	4.18	-3.62
Martin ratio: Return relative to average drawdown	1.38	10.50	-9.12

GOODX vs. ARFFX - Sharpe Ratio Comparison

The current GOODX Sharpe Ratio is 0.47, which is lower than the ARFFX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of GOODX and ARFFX, 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

GOODX vs. ARFFX - Drawdown Comparison

The maximum GOODX drawdown since its inception was -41.43%, smaller than the maximum ARFFX drawdown of -57.66%. Use the drawdown chart below to compare losses from any high point for GOODX and ARFFX.

Drawdown Indicators

	GOODX	ARFFX	Difference
Max Drawdown Largest peak-to-trough decline	-41.43%	-57.66%	+16.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-8.02%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	-16.27%	-23.39%	+7.12%
Max Drawdown (5Y) Largest decline over 5 years	-19.74%	-24.50%	+4.76%
Max Drawdown (10Y) Largest decline over 10 years	-38.58%	-43.22%	+4.64%
Current Drawdown Current decline from peak	-3.82%	-4.31%	+0.49%
Average Drawdown Average peak-to-trough decline	-9.24%	-9.43%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	3.19%	+1.19%

Volatility

GOODX vs. ARFFX - Volatility Comparison

GoodHaven Fund (GOODX) has a higher volatility of 4.29% compared to Ariel Focus Fund (ARFFX) at 3.98%. This indicates that GOODX's price experiences larger fluctuations and is considered to be riskier than ARFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOODX	ARFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	3.98%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	9.12%	9.58%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	12.90%	13.74%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	18.51%	-2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	19.88%	-2.64%

GOODX vs. ARFFX - Expense Ratio Comparison

GOODX has a 1.10% expense ratio, which is higher than ARFFX's 1.00% expense ratio.

Dividends

GOODX vs. ARFFX - Dividend Comparison

GOODX's dividend yield for the trailing twelve months is around 3.02%, less than ARFFX's 11.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARFFX Ariel Focus Fund	11.70%	12.68%	2.27%	3.33%	8.30%	3.30%	2.41%	1.03%	7.61%	5.76%	1.04%	13.91%
GOODX GoodHaven Fund	3.02%	3.00%	2.43%	1.44%	0.38%	0.13%	0.45%	1.27%	1.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GOODX and ARFFX in my portfolio?

GOODX and ARFFX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOODX or ARFFX?

GOODX has higher volatility (4.29%) compared to ARFFX (3.98%). In terms of maximum drawdown, GOODX dropped -41.43% vs ARFFX's -57.66%.

Which has better risk-adjusted returns?

ARFFX currently has the higher Sharpe Ratio (2.45 vs 0.47), 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.