LKSCX vs. CCASX
LKSCX (LKCM Small Cap Equity Fund) and CCASX (Conestoga Small Cap) are both Small Cap Growth Equities funds. Over the past 10 years, LKSCX returned 11.23%/yr vs 8.70%/yr for CCASX. Their correlation of 0.90 means they have usually moved in the same direction. LKSCX charges 1.03%/yr vs 1.10%/yr for CCASX.
Performance
LKSCX vs. CCASX - Performance Comparison
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Returns By Period
In the year-to-date period, LKSCX achieves a 6.49% return, which is significantly higher than CCASX's 2.41% return. Over the past 10 years, LKSCX has outperformed CCASX with an annualized return of 11.23%, while CCASX has yielded a comparatively lower 8.70% annualized return.
LKSCX
- 1D
- 0.73%
- 1M
- -2.27%
- 6M
- 3.65%
- YTD
- 6.49%
- 1Y
- 17.88%
- 3Y*
- 13.16%
- 5Y*
- 6.08%
- 10Y*
- 11.23%
- ALL TIME*
- 10.20%
CCASX
- 1D
- 1.82%
- 1M
- -4.79%
- 6M
- 0.77%
- YTD
- 2.41%
- 1Y
- 0.70%
- 3Y*
- 0.51%
- 5Y*
- -1.65%
- 10Y*
- 8.70%
- ALL TIME*
- 9.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CCASX Conestoga Small Cap | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
LKSCX vs. CCASX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LKSCX LKCM Small Cap Equity Fund | 6.49% | 13.22% | 15.35% | 22.57% | -22.14% | 14.54% | 34.70% | 22.68% | -5.67% | 17.08% |
CCASX Conestoga Small Cap | 2.41% | -11.00% | 8.74% | 22.13% | -28.32% | 16.02% | 30.34% | 25.18% | 0.60% | 28.42% |
Correlation
The correlation between LKSCX and CCASX is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2002 | 0.90 |
The correlation between LKSCX and CCASX has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
LKSCX vs. CCASX — Risk / Return Rank
LKSCX
CCASX
LKSCX vs. CCASX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LKCM Small Cap Equity Fund (LKSCX) and Conestoga Small Cap (CCASX). 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.
| LKSCX | CCASX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.00 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | -0.16 | +1.76 |
| Martin ratioReturn relative to average drawdown | 5.55 | -0.40 | +5.95 |
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Drawdowns
LKSCX vs. CCASX - Drawdown Comparison
The maximum LKSCX drawdown since its inception was -59.07%, which is greater than CCASX's maximum drawdown of -48.00%. Use the drawdown chart below to compare losses from any high point for LKSCX and CCASX.
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Drawdown Indicators
| LKSCX | CCASX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.07% | -48.00% | -11.07% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -14.51% | +4.61% |
Max Drawdown (3Y)Largest decline over 3 years | -24.21% | -27.74% | +3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -33.84% | -38.14% | +4.30% |
Max Drawdown (10Y)Largest decline over 10 years | -43.65% | -38.14% | -5.51% |
Current DrawdownCurrent decline from peak | -3.76% | -17.74% | +13.98% |
Average DrawdownAverage peak-to-trough decline | -9.36% | -9.24% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 5.68% | -2.82% |
Volatility
LKSCX vs. CCASX - Volatility Comparison
The current volatility for LKCM Small Cap Equity Fund (LKSCX) is 3.87%, while Conestoga Small Cap (CCASX) has a volatility of 4.87%. This indicates that LKSCX experiences smaller price fluctuations and is considered to be less risky than CCASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LKSCX | CCASX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 4.87% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 12.09% | 13.95% | -1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.92% | 19.12% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.37% | 21.90% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.05% | 21.51% | +1.54% |
LKSCX vs. CCASX - Expense Ratio Comparison
LKSCX has a 1.03% expense ratio, which is lower than CCASX's 1.10% expense ratio.
Dividends
LKSCX vs. CCASX - Dividend Comparison
LKSCX's dividend yield for the trailing twelve months is around 8.43%, more than CCASX's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCASX Conestoga Small Cap | 5.45% | 5.58% | 0.00% | 0.86% | 4.12% | 5.27% | 0.00% | 2.14% | 1.46% | 5.63% | 1.18% | 1.88% |
LKSCX LKCM Small Cap Equity Fund | 8.43% | 8.98% | 7.27% | 2.77% | 2.43% | 15.70% | 3.86% | 5.24% | 20.61% | 19.58% | 15.37% | 14.66% |
Frequently Asked Questions
LKSCX and CCASX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCASX has higher volatility (4.87%) compared to LKSCX (3.87%). In terms of maximum drawdown, LKSCX dropped -59.07% vs CCASX's -48.00%.
LKSCX currently has the higher Sharpe Ratio (0.94 vs -0.12), 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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