KSDIX vs. AVALX

Last updated Jun 3, 2026

KSDIX (Keeley Small Cap Dividend Value Fund) and AVALX (Aegis Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, KSDIX returned 9.42%/yr vs 20.40%/yr for AVALX. A 0.65 correlation means they provide meaningful diversification when combined. KSDIX charges 1.17%/yr vs 1.50%/yr for AVALX.

Performance

KSDIX vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keeley Small Cap Dividend Value Fund (KSDIX) 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, KSDIX achieves a 13.73% return, which is significantly lower than AVALX's 20.38% return. Over the past 10 years, KSDIX has underperformed AVALX with an annualized return of 9.42%, while AVALX has yielded a comparatively higher 20.40% annualized return.

KSDIX

• 1D: -0.52%
• 1M: -2.25%
• YTD: 13.73%
• 6M: 13.77%
• 1Y: 27.02%
• 3Y*: 15.36%
• 5Y*: 7.31%
• 10Y*: 9.42%

AVALX

• 1D: 0.50%
• 1M: -0.58%
• YTD: 20.38%
• 6M: 25.01%
• 1Y: 58.74%
• 3Y*: 33.77%
• 5Y*: 21.17%
• 10Y*: 20.40%

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

KSDIX vs. AVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KSDIX Keeley Small Cap Dividend Value Fund	13.73%	5.20%	14.43%	10.25%	-5.67%	24.94%	3.89%	22.68%	-16.26%	7.64%
AVALX Aegis Value Fund	20.38%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	17.37%

Correlation

The correlation between KSDIX and AVALX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009	0.65

Over the past year, the correlation between KSDIX and AVALX has dropped to 0.42 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

Return for Risk

KSDIX vs. AVALX — Risk / Return Rank

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

KSDIX

KSDIX Risk / Return Rank: 44
KSDIX Sharpe Ratio Rank: 35
KSDIX Sortino Ratio Rank: 37
KSDIX Omega Ratio Rank: 32
KSDIX Calmar Ratio Rank: 65
KSDIX Martin Ratio Rank: 51

AVALX

AVALX Risk / Return Rank: 94
AVALX Sharpe Ratio Rank: 98
AVALX Sortino Ratio Rank: 91
AVALX Omega Ratio Rank: 89
AVALX Calmar Ratio Rank: 97
AVALX Martin Ratio Rank: 97

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.

KSDIX vs. AVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keeley Small Cap Dividend Value Fund (KSDIX) 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.

	KSDIX	AVALX	Difference
Sharpe ratio Return per unit of total volatility	1.71	3.70	-1.99
Sortino ratio Return per unit of downside risk	2.54	4.47	-1.93
Omega ratio Gain probability vs. loss probability	1.30	1.63	-0.33
Calmar ratio Return relative to maximum drawdown	3.12	7.30	-4.18
Martin ratio Return relative to average drawdown	10.39	25.81	-15.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KSDIX vs. AVALX - Sharpe Ratio Comparison

The current KSDIX Sharpe Ratio is 1.71, which is lower than the AVALX Sharpe Ratio of 3.70. The chart below compares the historical Sharpe Ratios of KSDIX and AVALX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KSDIX	AVALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	3.70	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.96	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.92	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.54	-0.03

Drawdowns

KSDIX vs. AVALX - Drawdown Comparison

The maximum KSDIX drawdown since its inception was -48.82%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for KSDIX and AVALX.

Drawdown Indicators

	KSDIX	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-48.82%	-73.72%	+24.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-8.32%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-25.00%	-13.59%	-11.41%
Max Drawdown (5Y) Largest decline over 5 years	-25.00%	-32.00%	+7.00%
Max Drawdown (10Y) Largest decline over 10 years	-48.82%	-48.34%	-0.48%
Current Drawdown Current decline from peak	-2.75%	-1.89%	-0.86%
Average Drawdown Average peak-to-trough decline	-6.13%	-10.95%	+4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.35%	+0.17%

Volatility

KSDIX vs. AVALX - Volatility Comparison

Keeley Small Cap Dividend Value Fund (KSDIX) has a higher volatility of 4.05% compared to Aegis Value Fund (AVALX) at 2.82%. This indicates that KSDIX'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.

Volatility by Period

	KSDIX	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	2.82%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	12.73%	-2.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	16.77%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.19%	22.23%	-3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.60%	22.17%	+0.43%

KSDIX vs. AVALX - Expense Ratio Comparison

KSDIX has a 1.17% expense ratio, which is lower than AVALX's 1.50% expense ratio.

Dividends

KSDIX vs. AVALX - Dividend Comparison

KSDIX's dividend yield for the trailing twelve months is around 4.03%, more than AVALX's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	1.94%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
KSDIX Keeley Small Cap Dividend Value Fund	4.03%	5.03%	10.24%	5.43%	14.51%	12.44%	1.72%	3.79%	11.69%	7.51%	3.12%	6.45%

Frequently Asked Questions

Can I hold both KSDIX and AVALX in my portfolio?

KSDIX and AVALX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KSDIX or AVALX?

KSDIX has higher volatility (4.05%) compared to AVALX (2.82%). In terms of maximum drawdown, KSDIX dropped -48.82% vs AVALX's -73.72%.

Which has better risk-adjusted returns?

AVALX currently has the higher Sharpe Ratio (3.70 vs 1.71), 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.