LSVQX vs. AVALX

Last updated Jun 4, 2026

LSVQX (LSV Small Cap Value Fund) and AVALX (Aegis Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, LSVQX returned 8.88%/yr vs 20.56%/yr for AVALX. A 0.57 correlation means they provide meaningful diversification when combined. LSVQX charges 0.83%/yr vs 1.50%/yr for AVALX.

Performance

LSVQX vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Small Cap Value Fund (LSVQX) 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, LSVQX achieves a 13.77% return, which is significantly lower than AVALX's 21.92% return. Over the past 10 years, LSVQX has underperformed AVALX with an annualized return of 8.88%, while AVALX has yielded a comparatively higher 20.56% annualized return.

LSVQX

• 1D: 0.86%
• 1M: 3.25%
• YTD: 13.77%
• 6M: 13.52%
• 1Y: 27.94%
• 3Y*: 15.06%
• 5Y*: 7.70%
• 10Y*: 8.88%

AVALX

• 1D: 1.28%
• 1M: 1.25%
• YTD: 21.92%
• 6M: 24.36%
• 1Y: 58.85%
• 3Y*: 34.33%
• 5Y*: 21.88%
• 10Y*: 20.56%

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

LSVQX vs. AVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSVQX LSV Small Cap Value Fund	13.77%	7.31%	4.23%	19.02%	-6.24%	34.54%	-5.98%	20.59%	-17.41%	6.12%
AVALX Aegis Value Fund	21.92%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	17.37%

Correlation

The correlation between LSVQX and AVALX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 4, 2013	0.57

Over the past year, the correlation between LSVQX and AVALX has dropped to 0.35 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Return for Risk

LSVQX vs. AVALX — Risk / Return Rank

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

LSVQX

LSVQX Risk / Return Rank: 51
LSVQX Sharpe Ratio Rank: 42
LSVQX Sortino Ratio Rank: 44
LSVQX Omega Ratio Rank: 39
LSVQX Calmar Ratio Rank: 77
LSVQX Martin Ratio Rank: 51

AVALX

AVALX Risk / Return Rank: 94
AVALX Sharpe Ratio Rank: 97
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.

LSVQX vs. AVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Small Cap Value Fund (LSVQX) 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.

	LSVQX	AVALX	Difference
Sharpe ratio: Return per unit of total volatility	1.90	3.66	-1.76
Sortino ratio: Return per unit of downside risk	2.80	4.43	-1.63
Omega ratio: Gain probability vs. loss probability	1.33	1.62	-0.29
Calmar ratio: Return relative to maximum drawdown	3.50	7.34	-3.84
Martin ratio: Return relative to average drawdown	10.35	25.89	-15.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LSVQX vs. AVALX - Sharpe Ratio Comparison

The current LSVQX Sharpe Ratio is 1.90, which is lower than the AVALX Sharpe Ratio of 3.66. The chart below compares the historical Sharpe Ratios of LSVQX 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

	LSVQX	AVALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	3.66	-1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.99	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.93	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.54	-0.13

Drawdowns

LSVQX vs. AVALX - Drawdown Comparison

The maximum LSVQX drawdown since its inception was -54.77%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for LSVQX and AVALX.

Drawdown Indicators

	LSVQX	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-54.77%	-73.72%	+18.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.32%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-25.76%	-13.59%	-12.17%
Max Drawdown (5Y) Largest decline over 5 years	-25.76%	-32.00%	+6.24%
Max Drawdown (10Y) Largest decline over 10 years	-54.77%	-48.34%	-6.43%
Current Drawdown Current decline from peak	0.00%	-0.64%	+0.64%
Average Drawdown Average peak-to-trough decline	-7.45%	-10.95%	+3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.35%	+0.51%

Volatility

LSVQX vs. AVALX - Volatility Comparison

LSV Small Cap Value Fund (LSVQX) has a higher volatility of 4.26% compared to Aegis Value Fund (AVALX) at 3.09%. This indicates that LSVQX'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

	LSVQX	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	3.09%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	10.40%	12.61%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	16.77%	-1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.36%	22.22%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.30%	22.17%	+2.13%

LSVQX vs. AVALX - Expense Ratio Comparison

LSVQX has a 0.83% expense ratio, which is lower than AVALX's 1.50% expense ratio.

Dividends

LSVQX vs. AVALX - Dividend Comparison

LSVQX's dividend yield for the trailing twelve months is around 7.14%, more than AVALX's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	1.92%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
LSVQX LSV Small Cap Value Fund	7.14%	8.13%	1.78%	4.73%	2.02%	1.45%	1.83%	2.04%	7.00%	4.78%	2.35%	3.59%

Frequently Asked Questions

Can I hold both LSVQX and AVALX in my portfolio?

LSVQX and AVALX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSVQX or AVALX?

LSVQX has higher volatility (4.26%) compared to AVALX (3.09%). In terms of maximum drawdown, LSVQX dropped -54.77% vs AVALX's -73.72%.

Which has better risk-adjusted returns?

AVALX currently has the higher Sharpe Ratio (3.66 vs 1.90), 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.