MVEIX vs. HEQFX

Last updated Jun 5, 2026

MVEIX (Monteagle Select Value Fund) and HEQFX (Monteagle Opportunity Equity Fund) are both mutual funds - MVEIX is a Mid Cap Value Equities fund managed by Monteagle Funds, while HEQFX is a Mid Cap Blend Equities fund managed by Monteagle Funds. Over the past 10 years, MVEIX returned 10.21%/yr vs 9.54%/yr for HEQFX. Their correlation of 0.87 suggests significant overlap in exposure. MVEIX charges 1.45%/yr vs 1.71%/yr for HEQFX.

Performance

MVEIX vs. HEQFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monteagle Select Value Fund (MVEIX) and Monteagle Opportunity Equity Fund (HEQFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVEIX achieves a 13.72% return, which is significantly higher than HEQFX's 9.23% return. Over the past 10 years, MVEIX has outperformed HEQFX with an annualized return of 10.21%, while HEQFX has yielded a comparatively lower 9.54% annualized return.

MVEIX

• 1D: -0.46%
• 1M: 5.26%
• YTD: 13.72%
• 6M: 13.37%
• 1Y: 29.37%
• 3Y*: 15.44%
• 5Y*: 7.16%
• 10Y*: 10.21%

HEQFX

• 1D: -0.39%
• 1M: 0.00%
• YTD: 9.23%
• 6M: 9.92%
• 1Y: 21.25%
• 3Y*: 13.04%
• 5Y*: 7.59%
• 10Y*: 9.54%

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

MVEIX vs. HEQFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVEIX Monteagle Select Value Fund	13.72%	14.79%	7.97%	6.60%	-11.14%	40.11%	4.89%	28.29%	-16.96%	11.14%
HEQFX Monteagle Opportunity Equity Fund	9.23%	9.63%	7.69%	13.38%	-5.43%	20.00%	12.46%	25.07%	-11.61%	10.48%

Correlation

The correlation between MVEIX and HEQFX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 11, 1998	0.87

The correlation between MVEIX and HEQFX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

MVEIX vs. HEQFX — Risk / Return Rank

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

MVEIX

MVEIX Risk / Return Rank: 68
MVEIX Sharpe Ratio Rank: 69
MVEIX Sortino Ratio Rank: 71
MVEIX Omega Ratio Rank: 58
MVEIX Calmar Ratio Rank: 79
MVEIX Martin Ratio Rank: 65

HEQFX

HEQFX Risk / Return Rank: 37
HEQFX Sharpe Ratio Rank: 30
HEQFX Sortino Ratio Rank: 31
HEQFX Omega Ratio Rank: 29
HEQFX Calmar Ratio Rank: 53
HEQFX Martin Ratio Rank: 41

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.

MVEIX vs. HEQFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monteagle Select Value Fund (MVEIX) and Monteagle Opportunity Equity Fund (HEQFX). 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.

	MVEIX	HEQFX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.52	+0.88
Sortino ratio: Return per unit of downside risk	3.50	2.28	+1.22
Omega ratio: Gain probability vs. loss probability	1.42	1.28	+0.14
Calmar ratio: Return relative to maximum drawdown	3.53	2.73	+0.80
Martin ratio: Return relative to average drawdown	12.55	8.61	+3.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVEIX vs. HEQFX - Sharpe Ratio Comparison

The current MVEIX Sharpe Ratio is 2.40, which is higher than the HEQFX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of MVEIX and HEQFX, 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

	MVEIX	HEQFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	1.52	+0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.00	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.00	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.00	+0.31

Drawdowns

MVEIX vs. HEQFX - Drawdown Comparison

The maximum MVEIX drawdown since its inception was -58.09%, smaller than the maximum HEQFX drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for MVEIX and HEQFX.

Drawdown Indicators

	MVEIX	HEQFX	Difference
Max Drawdown Largest peak-to-trough decline	-58.09%	-99.11%	+41.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-7.72%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-16.93%	-99.11%	+82.18%
Max Drawdown (5Y) Largest decline over 5 years	-20.72%	-99.11%	+78.39%
Max Drawdown (10Y) Largest decline over 10 years	-50.45%	-99.11%	+48.66%
Current Drawdown Current decline from peak	-0.46%	-98.76%	+98.30%
Average Drawdown Average peak-to-trough decline	-10.80%	-10.97%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.44%	-0.10%

Volatility

MVEIX vs. HEQFX - Volatility Comparison

The current volatility for Monteagle Select Value Fund (MVEIX) is 2.38%, while Monteagle Opportunity Equity Fund (HEQFX) has a volatility of 3.06%. This indicates that MVEIX experiences smaller price fluctuations and is considered to be less risky than HEQFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVEIX	HEQFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	3.06%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	9.59%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	13.89%	-1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	4,122.31%	-4,107.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.02%	2,914.35%	-2,889.33%

MVEIX vs. HEQFX - Expense Ratio Comparison

MVEIX has a 1.45% expense ratio, which is lower than HEQFX's 1.71% expense ratio.

Dividends

MVEIX vs. HEQFX - Dividend Comparison

MVEIX's dividend yield for the trailing twelve months is around 4.05%, less than HEQFX's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEQFX Monteagle Opportunity Equity Fund	10.00%	10.97%	4.78%	30.44%	6.65%	27.15%	0.68%	7.39%	7.07%	10.68%	12.44%	62.20%
MVEIX Monteagle Select Value Fund	4.05%	4.83%	7.76%	0.53%	4.32%	14.24%	36.67%	3.44%	12.07%	5.70%	2.71%	40.45%

Frequently Asked Questions

Can I hold both MVEIX and HEQFX in my portfolio?

MVEIX and HEQFX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVEIX or HEQFX?

HEQFX has higher volatility (3.06%) compared to MVEIX (2.38%). In terms of maximum drawdown, MVEIX dropped -58.09% vs HEQFX's -99.11%.

Which has better risk-adjusted returns?

MVEIX currently has the higher Sharpe Ratio (2.40 vs 1.52), 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.