HDCTX vs. LOMAX

Last updated Jun 24, 2026

HDCTX (Rational Equity Armor Fund) and LOMAX (Edgar Lomax Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, HDCTX returned 5.43%/yr vs 10.88%/yr for LOMAX. Their correlation of 0.80 suggests significant overlap in exposure. HDCTX charges 1.17%/yr vs 0.70%/yr for LOMAX.

Performance

HDCTX vs. LOMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rational Equity Armor Fund (HDCTX) and Edgar Lomax Value Fund (LOMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDCTX achieves a 9.50% return, which is significantly lower than LOMAX's 10.68% return. Over the past 10 years, HDCTX has underperformed LOMAX with an annualized return of 5.43%, while LOMAX has yielded a comparatively higher 10.88% annualized return.

HDCTX

• 1D: -0.25%
• 1M: -0.34%
• YTD: 9.50%
• 6M: 8.19%
• 1Y: 19.35%
• 3Y*: 14.81%
• 5Y*: 7.32%
• 10Y*: 5.43%

LOMAX

• 1D: 0.51%
• 1M: -0.06%
• YTD: 10.68%
• 6M: 10.34%
• 1Y: 24.20%
• 3Y*: 16.71%
• 5Y*: 10.45%
• 10Y*: 10.88%

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

HDCTX vs. LOMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDCTX Rational Equity Armor Fund	9.50%	12.64%	16.85%	2.95%	-10.68%	14.52%	15.85%	11.32%	-11.94%	-1.99%
LOMAX Edgar Lomax Value Fund	10.68%	18.09%	10.29%	5.19%	-0.46%	25.80%	-5.77%	23.27%	-3.31%	19.52%

Correlation

The correlation between HDCTX and LOMAX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 28, 2001	0.80

Over the past year, the correlation between HDCTX and LOMAX has dropped to 0.26 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

HDCTX vs. LOMAX — Risk / Return Rank

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

HDCTX

HDCTX Risk / Return Rank: 56
HDCTX Sharpe Ratio Rank: 61
HDCTX Sortino Ratio Rank: 65
HDCTX Omega Ratio Rank: 56
HDCTX Calmar Ratio Rank: 63
HDCTX Martin Ratio Rank: 36

LOMAX

LOMAX Risk / Return Rank: 85
LOMAX Sharpe Ratio Rank: 84
LOMAX Sortino Ratio Rank: 84
LOMAX Omega Ratio Rank: 71
LOMAX Calmar Ratio Rank: 94
LOMAX Martin Ratio Rank: 91

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.

HDCTX vs. LOMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rational Equity Armor Fund (HDCTX) and Edgar Lomax Value Fund (LOMAX). 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.

	HDCTX	LOMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.52	-0.40
Sortino ratio: Return per unit of downside risk	3.07	3.70	-0.63
Omega ratio: Gain probability vs. loss probability	1.38	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	2.94	5.18	-2.24
Martin ratio: Return relative to average drawdown	7.62	16.86	-9.24

HDCTX vs. LOMAX - Sharpe Ratio Comparison

The current HDCTX Sharpe Ratio is 2.13, which is comparable to the LOMAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of HDCTX and LOMAX, 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

HDCTX vs. LOMAX - Drawdown Comparison

The maximum HDCTX drawdown since its inception was -59.05%, roughly equal to the maximum LOMAX drawdown of -57.82%. Use the drawdown chart below to compare losses from any high point for HDCTX and LOMAX.

Drawdown Indicators

	HDCTX	LOMAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.05%	-57.82%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-4.86%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.74%	-11.93%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-18.22%	-17.50%	-0.72%
Max Drawdown (10Y) Largest decline over 10 years	-19.43%	-37.81%	+18.38%
Current Drawdown Current decline from peak	-2.40%	-2.30%	-0.10%
Average Drawdown Average peak-to-trough decline	-6.40%	-9.39%	+2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	1.49%	+1.18%

Volatility

HDCTX vs. LOMAX - Volatility Comparison

The current volatility for Rational Equity Armor Fund (HDCTX) is 2.72%, while Edgar Lomax Value Fund (LOMAX) has a volatility of 3.36%. This indicates that HDCTX experiences smaller price fluctuations and is considered to be less risky than LOMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDCTX	LOMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	3.36%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	7.08%	7.19%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	9.62%	9.97%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.66%	13.22%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.55%	16.52%	-4.97%

HDCTX vs. LOMAX - Expense Ratio Comparison

HDCTX has a 1.17% expense ratio, which is higher than LOMAX's 0.70% expense ratio.

Dividends

HDCTX vs. LOMAX - Dividend Comparison

HDCTX's dividend yield for the trailing twelve months is around 0.19%, less than LOMAX's 5.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDCTX Rational Equity Armor Fund	0.19%	0.00%	0.00%	0.17%	0.78%	1.21%	1.10%	5.37%	7.86%	5.60%	3.28%	15.32%
LOMAX Edgar Lomax Value Fund	5.73%	6.34%	6.27%	4.66%	7.73%	5.11%	12.52%	2.16%	15.97%	8.80%	2.68%	15.54%

Frequently Asked Questions

Can I hold both HDCTX and LOMAX in my portfolio?

HDCTX and LOMAX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDCTX or LOMAX?

LOMAX has higher volatility (3.36%) compared to HDCTX (2.72%). In terms of maximum drawdown, HDCTX dropped -59.05% vs LOMAX's -57.82%.

Which has better risk-adjusted returns?

LOMAX currently has the higher Sharpe Ratio (2.52 vs 2.13), 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.