PGVFX vs. AGLOX

Last updated Jun 27, 2026

PGVFX (Polaris Global Value Fund) and AGLOX (Ariel Global Fund) are both Global Equities funds. Over the past 10 years, PGVFX returned 12.19%/yr vs 11.15%/yr for AGLOX. A 0.80 correlation means they provide meaningful diversification when combined. PGVFX charges 0.99%/yr vs 1.13%/yr for AGLOX.

Performance

PGVFX vs. AGLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polaris Global Value Fund (PGVFX) and Ariel Global Fund (AGLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGVFX achieves a 21.30% return, which is significantly lower than AGLOX's 25.91% return. Over the past 10 years, PGVFX has outperformed AGLOX with an annualized return of 12.19%, while AGLOX has yielded a comparatively lower 11.15% annualized return.

PGVFX

• 1D: 1.44%
• 1M: 1.57%
• YTD: 21.30%
• 6M: 21.01%
• 1Y: 37.62%
• 3Y*: 22.02%
• 5Y*: 10.29%
• 10Y*: 12.19%

AGLOX

• 1D: 1.65%
• 1M: 2.43%
• YTD: 25.91%
• 6M: 25.27%
• 1Y: 37.30%
• 3Y*: 20.23%
• 5Y*: 12.22%
• 10Y*: 11.15%

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

PGVFX vs. AGLOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGVFX Polaris Global Value Fund	21.30%	27.01%	5.33%	14.76%	-12.00%	15.38%	6.65%	22.83%	-12.64%	20.60%
AGLOX Ariel Global Fund	25.91%	23.22%	6.55%	12.40%	-5.47%	11.53%	7.70%	15.98%	-6.03%	15.63%

Correlation

The correlation between PGVFX and AGLOX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.80

The correlation between PGVFX and AGLOX has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

Return for Risk

PGVFX vs. AGLOX — Risk / Return Rank

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

PGVFX

PGVFX Risk / Return Rank: 93
PGVFX Sharpe Ratio Rank: 97
PGVFX Sortino Ratio Rank: 94
PGVFX Omega Ratio Rank: 90
PGVFX Calmar Ratio Rank: 93
PGVFX Martin Ratio Rank: 92

AGLOX

AGLOX Risk / Return Rank: 88
AGLOX Sharpe Ratio Rank: 93
AGLOX Sortino Ratio Rank: 88
AGLOX Omega Ratio Rank: 87
AGLOX Calmar Ratio Rank: 87
AGLOX Martin Ratio Rank: 85

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.

PGVFX vs. AGLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polaris Global Value Fund (PGVFX) and Ariel Global Fund (AGLOX). 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.

	PGVFX	AGLOX	Difference
Sharpe ratio: Return per unit of total volatility	3.17	2.74	+0.43
Sortino ratio: Return per unit of downside risk	4.34	3.72	+0.62
Omega ratio: Gain probability vs. loss probability	1.59	1.53	+0.06
Calmar ratio: Return relative to maximum drawdown	4.49	3.62	+0.87
Martin ratio: Return relative to average drawdown	16.14	13.48	+2.66

PGVFX vs. AGLOX - Sharpe Ratio Comparison

The current PGVFX Sharpe Ratio is 3.17, which is comparable to the AGLOX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of PGVFX and AGLOX, 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

PGVFX vs. AGLOX - Drawdown Comparison

The maximum PGVFX drawdown since its inception was -68.09%, which is greater than AGLOX's maximum drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for PGVFX and AGLOX.

Drawdown Indicators

	PGVFX	AGLOX	Difference
Max Drawdown Largest peak-to-trough decline	-68.09%	-24.72%	-43.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-10.66%	+1.90%
Max Drawdown (3Y) Largest decline over 3 years	-12.53%	-12.94%	+0.41%
Max Drawdown (5Y) Largest decline over 5 years	-27.58%	-16.77%	-10.81%
Max Drawdown (10Y) Largest decline over 10 years	-41.26%	-24.72%	-16.54%
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-11.27%	-3.37%	-7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	2.86%	-0.43%

Volatility

PGVFX vs. AGLOX - Volatility Comparison

The current volatility for Polaris Global Value Fund (PGVFX) is 4.83%, while Ariel Global Fund (AGLOX) has a volatility of 6.32%. This indicates that PGVFX experiences smaller price fluctuations and is considered to be less risky than AGLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGVFX	AGLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	6.32%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	12.10%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.43%	14.09%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	12.93%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	13.20%	+2.52%

PGVFX vs. AGLOX - Expense Ratio Comparison

PGVFX has a 0.99% expense ratio, which is lower than AGLOX's 1.13% expense ratio.

Dividends

PGVFX vs. AGLOX - Dividend Comparison

PGVFX's dividend yield for the trailing twelve months is around 4.26%, less than AGLOX's 13.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGLOX Ariel Global Fund	13.01%	16.38%	27.80%	18.51%	4.82%	2.00%	0.85%	4.39%	3.42%	4.48%	2.65%	0.81%
PGVFX Polaris Global Value Fund	4.26%	5.17%	5.65%	1.68%	3.55%	4.05%	1.55%	3.69%	3.39%	1.50%	1.32%	1.26%

Frequently Asked Questions

Can I hold both PGVFX and AGLOX in my portfolio?

PGVFX and AGLOX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGVFX or AGLOX?

AGLOX has higher volatility (6.32%) compared to PGVFX (4.83%). In terms of maximum drawdown, PGVFX dropped -68.09% vs AGLOX's -24.72%.

Which has better risk-adjusted returns?

PGVFX currently has the higher Sharpe Ratio (3.17 vs 2.74), 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.