LKSCX vs. VLEOX

Last updated Aug 4, 2026

LKSCX (LKCM Small Cap Equity Fund) and VLEOX (Value Line Small Cap Opportunities Fund) are both Small Cap Growth Equities funds. Over the past 10 years, LKSCX returned 11.41%/yr vs 11.36%/yr for VLEOX. Their correlation of 0.91 means they have usually moved in the same direction. LKSCX charges 1.03%/yr vs 1.16%/yr for VLEOX.

Performance

LKSCX vs. VLEOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LKCM Small Cap Equity Fund (LKSCX) and Value Line Small Cap Opportunities Fund (VLEOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LKSCX achieves a 6.95% return, which is significantly lower than VLEOX's 10.70% return. Both investments have delivered pretty close results over the past 10 years, with LKSCX having a 11.41% annualized return and VLEOX not far behind at 11.36%.

LKSCX

• 1D: 0.43%
• 1M: -1.85%
• 6M: 3.86%
• YTD: 6.95%
• 1Y: 18.38%
• 3Y*: 13.34%
• 5Y*: 6.17%
• 10Y*: 11.41%
• ALL TIME*: 10.21%

VLEOX

• 1D: 0.58%
• 1M: -0.71%
• 6M: 5.46%
• YTD: 10.70%
• 1Y: 15.73%
• 3Y*: 12.24%
• 5Y*: 6.52%
• 10Y*: 11.36%
• ALL TIME*: 11.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LKSCX LKCM Small Cap Equity Fund	$0.00	$0.00	$0.00
VLEOX Value Line Small Cap Opportunities Fund	$0.00	$0.00	$0.00

LKSCX vs. VLEOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LKSCX LKCM Small Cap Equity Fund	6.95%	13.22%	15.35%	22.57%	-22.14%	14.54%	34.70%	22.68%	-5.67%	17.08%
VLEOX Value Line Small Cap Opportunities Fund	10.70%	6.27%	14.23%	22.01%	-19.12%	15.16%	26.65%	25.32%	-4.97%	17.66%

Correlation

The correlation between LKSCX and VLEOX is 0.82, 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.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jul 14, 1994	0.91

The correlation between LKSCX and VLEOX has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.

Return for Risk

LKSCX vs. VLEOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LKSCX

LKSCX Risk / Return Rank: 32
LKSCX Sharpe Ratio Rank: 28
LKSCX Sortino Ratio Rank: 29
LKSCX Omega Ratio Rank: 26
LKSCX Calmar Ratio Rank: 38
LKSCX Martin Ratio Rank: 39

VLEOX

VLEOX Risk / Return Rank: 27
VLEOX Sharpe Ratio Rank: 24
VLEOX Sortino Ratio Rank: 26
VLEOX Omega Ratio Rank: 23
VLEOX Calmar Ratio Rank: 29
VLEOX Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LKSCX vs. VLEOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LKCM Small Cap Equity Fund (LKSCX) and Value Line Small Cap Opportunities Fund (VLEOX). 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	VLEOX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	0.91	+0.12
Sortino ratio: Return per unit of downside risk	1.56	1.44	+0.12
Omega ratio: Gain probability vs. loss probability	1.18	1.16	+0.02
Calmar ratio: Return relative to maximum drawdown	1.74	1.41	+0.33
Martin ratio: Return relative to average drawdown	6.01	4.91	+1.11

LKSCX vs. VLEOX - Sharpe Ratio Comparison

The current LKSCX Sharpe Ratio is 1.02, which is comparable to the VLEOX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of LKSCX and VLEOX, 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

LKSCX vs. VLEOX - Drawdown Comparison

The maximum LKSCX drawdown since its inception was -59.07%, which is greater than VLEOX's maximum drawdown of -55.86%. Use the drawdown chart below to compare losses from any high point for LKSCX and VLEOX.

Drawdown Indicators

	LKSCX	VLEOX	Difference
Max Drawdown Largest peak-to-trough decline	-59.07%	-55.86%	-3.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.90%	-10.58%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-24.21%	-22.89%	-1.32%
Max Drawdown (5Y) Largest decline over 5 years	-33.84%	-30.68%	-3.16%
Max Drawdown (10Y) Largest decline over 10 years	-43.65%	-35.30%	-8.35%
Current Drawdown Current decline from peak	-3.35%	-1.73%	-1.62%
Average Drawdown Average peak-to-trough decline	-9.36%	-9.45%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.04%	-0.18%

Volatility

LKSCX vs. VLEOX - Volatility Comparison

LKCM Small Cap Equity Fund (LKSCX) and Value Line Small Cap Opportunities Fund (VLEOX) have volatilities of 3.88% and 3.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LKSCX	VLEOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	3.77%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	12.09%	12.45%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	16.53%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.36%	19.33%	+2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	19.98%	+3.07%

LKSCX vs. VLEOX - Expense Ratio Comparison

LKSCX has a 1.03% expense ratio, which is lower than VLEOX's 1.16% expense ratio.

Dividends

LKSCX vs. VLEOX - Dividend Comparison

LKSCX's dividend yield for the trailing twelve months is around 8.40%, more than VLEOX's 5.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LKSCX LKCM Small Cap Equity Fund	8.40%	8.98%	7.27%	2.77%	2.43%	15.70%	3.86%	5.24%	20.61%	19.58%	15.37%	14.66%
VLEOX Value Line Small Cap Opportunities Fund	5.78%	6.40%	0.09%	0.82%	2.76%	6.00%	8.02%	23.60%	15.87%	3.64%	5.40%	14.55%

Frequently Asked Questions

Can I hold both LKSCX and VLEOX in my portfolio?

LKSCX and VLEOX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LKSCX or VLEOX?

LKSCX has higher volatility (3.88%) compared to VLEOX (3.77%). In terms of maximum drawdown, LKSCX dropped -59.07% vs VLEOX's -55.86%.

Which has better risk-adjusted returns?

LKSCX currently has the higher Sharpe Ratio (1.02 vs 0.91), 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.