SEVAX vs. ARFFX

Last updated Jul 28, 2026

SEVAX (Guggenheim SMid Cap Value Fund) and ARFFX (Ariel Focus Fund) are both Mid Cap Value Equities funds. Over the past 10 years, SEVAX returned 8.53%/yr vs 10.40%/yr for ARFFX. Their correlation of 0.88 means they have usually moved in the same direction. SEVAX charges 1.19%/yr vs 1.00%/yr for ARFFX.

Performance

SEVAX vs. ARFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guggenheim SMid Cap Value Fund (SEVAX) and Ariel Focus Fund (ARFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEVAX achieves a 11.41% return, which is significantly lower than ARFFX's 14.20% return. Over the past 10 years, SEVAX has underperformed ARFFX with an annualized return of 8.53%, while ARFFX has yielded a comparatively higher 10.40% annualized return.

SEVAX

• 1D: 0.57%
• 1M: 0.13%
• 6M: 6.93%
• YTD: 11.41%
• 1Y: 15.28%
• 3Y*: 6.01%
• 5Y*: 5.78%
• 10Y*: 8.53%
• ALL TIME*: 11.30%

ARFFX

• 1D: 1.79%
• 1M: 3.49%
• 6M: 5.86%
• YTD: 14.20%
• 1Y: 27.20%
• 3Y*: 16.11%
• 5Y*: 9.31%
• 10Y*: 10.40%
• ALL TIME*: 7.35%

*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)
ARFFX Ariel Focus Fund	$0.00	$0.00	$0.00
SEVAX Guggenheim SMid Cap Value Fund	$0.00	$0.00	$0.00

SEVAX vs. ARFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SEVAX Guggenheim SMid Cap Value Fund	11.41%	7.18%	-1.97%	9.34%	-2.07%	23.63%	3.56%	26.83%	-13.22%	13.38%
ARFFX Ariel Focus Fund	14.20%	21.00%	13.39%	6.98%	-9.12%	21.14%	6.90%	25.62%	-13.23%	15.01%

Correlation

The correlation between SEVAX and ARFFX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Jul 5, 2005	0.88

The correlation between SEVAX and ARFFX shifts across timeframes, from 0.78 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SEVAX vs. ARFFX — Risk / Return Rank

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

SEVAX

SEVAX Risk / Return Rank: 40
SEVAX Sharpe Ratio Rank: 36
SEVAX Sortino Ratio Rank: 39
SEVAX Omega Ratio Rank: 34
SEVAX Calmar Ratio Rank: 47
SEVAX Martin Ratio Rank: 43

ARFFX

ARFFX Risk / Return Rank: 83
ARFFX Sharpe Ratio Rank: 87
ARFFX Sortino Ratio Rank: 86
ARFFX Omega Ratio Rank: 81
ARFFX Calmar Ratio Rank: 91
ARFFX Martin Ratio Rank: 68

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.

SEVAX vs. ARFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guggenheim SMid Cap Value Fund (SEVAX) and Ariel Focus Fund (ARFFX). 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.

	SEVAX	ARFFX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.10	-0.97
Sortino ratio: Return per unit of downside risk	1.74	3.04	-1.29
Omega ratio: Gain probability vs. loss probability	1.20	1.37	-0.17
Calmar ratio: Return relative to maximum drawdown	1.81	3.51	-1.70
Martin ratio: Return relative to average drawdown	6.25	8.62	-2.37

SEVAX vs. ARFFX - Sharpe Ratio Comparison

The current SEVAX Sharpe Ratio is 1.13, which is lower than the ARFFX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of SEVAX and ARFFX, 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

SEVAX vs. ARFFX - Drawdown Comparison

The maximum SEVAX drawdown since its inception was -50.99%, smaller than the maximum ARFFX drawdown of -57.66%. Use the drawdown chart below to compare losses from any high point for SEVAX and ARFFX.

Drawdown Indicators

	SEVAX	ARFFX	Difference
Max Drawdown Largest peak-to-trough decline	-50.99%	-57.66%	+6.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.70%	-8.02%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-28.86%	-23.39%	-5.47%
Max Drawdown (5Y) Largest decline over 5 years	-28.86%	-24.50%	-4.36%
Max Drawdown (10Y) Largest decline over 10 years	-43.16%	-43.22%	+0.06%
Current Drawdown Current decline from peak	-1.18%	0.00%	-1.18%
Average Drawdown Average peak-to-trough decline	-7.51%	-9.40%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	3.26%	-0.74%

Volatility

SEVAX vs. ARFFX - Volatility Comparison

Guggenheim SMid Cap Value Fund (SEVAX) and Ariel Focus Fund (ARFFX) have volatilities of 3.43% and 3.43%, 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

	SEVAX	ARFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	3.43%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	9.16%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	13.92%	13.38%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.27%	18.42%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	19.78%	+0.81%

SEVAX vs. ARFFX - Expense Ratio Comparison

SEVAX has a 1.19% expense ratio, which is higher than ARFFX's 1.00% expense ratio.

Dividends

SEVAX vs. ARFFX - Dividend Comparison

SEVAX's dividend yield for the trailing twelve months is around 12.73%, more than ARFFX's 11.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARFFX Ariel Focus Fund	11.11%	12.68%	2.27%	3.33%	8.30%	3.30%	2.41%	1.03%	7.61%	5.76%	1.04%	13.91%
SEVAX Guggenheim SMid Cap Value Fund	12.73%	14.18%	0.00%	1.58%	5.49%	6.98%	0.00%	4.25%	15.53%	7.55%	3.12%	18.23%

Frequently Asked Questions

Can I hold both SEVAX and ARFFX in my portfolio?

SEVAX and ARFFX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEVAX or ARFFX?

ARFFX has higher volatility (3.43%) compared to SEVAX (3.43%). In terms of maximum drawdown, SEVAX dropped -50.99% vs ARFFX's -57.66%.

Which has better risk-adjusted returns?

ARFFX currently has the higher Sharpe Ratio (2.10 vs 1.13), 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.