MVALX vs. ATGAX

Last updated Jun 4, 2026

MVALX (Meridian Contrarian Fund) and ATGAX (Aquila Opportunity Growth Fund) are both Mid Cap Blend Equities funds. With a 1.00 correlation, they move nearly in lockstep. MVALX charges 1.12%/yr vs 1.50%/yr for ATGAX.

Performance

MVALX vs. ATGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Meridian Contrarian Fund (MVALX) and Aquila Opportunity Growth Fund (ATGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MVALX

• 1D: 1.96%
• 1M: 6.59%
• YTD: 17.57%
• 6M: 18.16%
• 1Y: 35.80%
• 3Y*: 16.74%
• 5Y*: 8.16%
• 10Y*: 13.55%

ATGAX

• 1D: 1.15%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVALX vs. ATGAX - Yearly Performance Comparison

	2026 (YTD)
MVALX Meridian Contrarian Fund	1.47%
ATGAX Aquila Opportunity Growth Fund	2.03%

Correlation

The correlation between MVALX and ATGAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	1.00

Return for Risk

MVALX vs. ATGAX — Risk / Return Rank

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

MVALX

MVALX Risk / Return Rank: 55
MVALX Sharpe Ratio Rank: 49
MVALX Sortino Ratio Rank: 47
MVALX Omega Ratio Rank: 40
MVALX Calmar Ratio Rank: 76
MVALX Martin Ratio Rank: 62

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.

MVALX vs. ATGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meridian Contrarian Fund (MVALX) and Aquila Opportunity Growth Fund (ATGAX). 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.

	MVALX	ATGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	—	—
Sortino ratio: Return per unit of downside risk	2.88	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.44	—	—
Martin ratio: Return relative to average drawdown	12.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MVALX	ATGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	58.33	-57.73

Drawdowns

MVALX vs. ATGAX - Drawdown Comparison

The maximum MVALX drawdown since its inception was -50.65%, which is greater than ATGAX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MVALX and ATGAX.

Drawdown Indicators

	MVALX	ATGAX	Difference
Max Drawdown Largest peak-to-trough decline	-50.65%	0.00%	-50.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.53%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.06%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.12%	0.00%	-7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	—	—

Volatility

Volatility by Period

	MVALX	ATGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	9.26%	+9.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	9.26%	+11.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	9.26%	+12.18%

MVALX vs. ATGAX - Expense Ratio Comparison

MVALX has a 1.12% expense ratio, which is lower than ATGAX's 1.50% expense ratio.

Dividends

MVALX vs. ATGAX - Dividend Comparison

MVALX's dividend yield for the trailing twelve months is around 10.90%, while ATGAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MVALX Meridian Contrarian Fund	10.90%	12.81%	4.26%	5.45%	11.45%	14.16%	4.93%	7.94%	25.52%	10.53%	0.52%	16.76%

Frequently Asked Questions

Can I hold both MVALX and ATGAX in my portfolio?

With a correlation of 1.00, MVALX and ATGAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.