SOAVX vs. AMFEX

Last updated Jun 24, 2026

SOAVX (Spirit of America Large Cap Value Fund) and AMFEX (AAMA Equity Fund) are both Large Cap Blend Equities funds. Over the past 5 years, SOAVX returned 15.93%/yr vs 11.35%/yr for AMFEX. Their correlation of 0.94 suggests significant overlap in exposure. SOAVX charges 1.50%/yr vs 1.17%/yr for AMFEX.

Performance

SOAVX vs. AMFEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spirit of America Large Cap Value Fund (SOAVX) and AAMA Equity Fund (AMFEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SOAVX having a 13.13% return and AMFEX slightly higher at 13.15%.

SOAVX

• 1D: -0.27%
• 1M: 0.22%
• YTD: 13.13%
• 6M: 11.97%
• 1Y: 28.66%
• 3Y*: 25.16%
• 5Y*: 15.93%
• 10Y*: 15.68%

AMFEX

• 1D: -0.14%
• 1M: 0.47%
• YTD: 13.15%
• 6M: 12.42%
• 1Y: 27.35%
• 3Y*: 18.64%
• 5Y*: 11.35%
• 10Y*: —

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

SOAVX vs. AMFEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SOAVX Spirit of America Large Cap Value Fund	13.13%	17.76%	33.24%	25.72%	-17.65%	29.26%	15.55%	29.54%	-9.56%
AMFEX AAMA Equity Fund	13.15%	17.33%	16.28%	17.32%	-14.08%	22.58%	12.70%	24.62%	-9.60%

Correlation

The correlation between SOAVX and AMFEX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018	0.94

The correlation between SOAVX and AMFEX shifts across timeframes, from 0.79 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SOAVX vs. AMFEX — Risk / Return Rank

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

SOAVX

SOAVX Risk / Return Rank: 63
SOAVX Sharpe Ratio Rank: 59
SOAVX Sortino Ratio Rank: 52
SOAVX Omega Ratio Rank: 53
SOAVX Calmar Ratio Rank: 80
SOAVX Martin Ratio Rank: 71

AMFEX

AMFEX Risk / Return Rank: 90
AMFEX Sharpe Ratio Rank: 93
AMFEX Sortino Ratio Rank: 87
AMFEX Omega Ratio Rank: 84
AMFEX Calmar Ratio Rank: 92
AMFEX Martin Ratio Rank: 95

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.

SOAVX vs. AMFEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spirit of America Large Cap Value Fund (SOAVX) and AAMA Equity Fund (AMFEX). 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.

	SOAVX	AMFEX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.88	-0.79
Sortino ratio: Return per unit of downside risk	2.79	3.88	-1.09
Omega ratio: Gain probability vs. loss probability	1.37	1.52	-0.15
Calmar ratio: Return relative to maximum drawdown	3.45	4.70	-1.25
Martin ratio: Return relative to average drawdown	12.76	19.87	-7.11

SOAVX vs. AMFEX - Sharpe Ratio Comparison

The current SOAVX Sharpe Ratio is 2.09, which is comparable to the AMFEX Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of SOAVX and AMFEX, 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

SOAVX vs. AMFEX - Drawdown Comparison

The maximum SOAVX drawdown since its inception was -47.48%, which is greater than AMFEX's maximum drawdown of -30.41%. Use the drawdown chart below to compare losses from any high point for SOAVX and AMFEX.

Drawdown Indicators

	SOAVX	AMFEX	Difference
Max Drawdown Largest peak-to-trough decline	-47.48%	-30.41%	-17.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-6.07%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	-20.96%	-15.23%	-5.73%
Max Drawdown (5Y) Largest decline over 5 years	-25.31%	-21.21%	-4.10%
Max Drawdown (10Y) Largest decline over 10 years	-34.22%	—	—
Current Drawdown Current decline from peak	-1.71%	-0.79%	-0.92%
Average Drawdown Average peak-to-trough decline	-6.22%	-4.28%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	1.43%	+0.90%

Volatility

SOAVX vs. AMFEX - Volatility Comparison

Spirit of America Large Cap Value Fund (SOAVX) has a higher volatility of 5.32% compared to AAMA Equity Fund (AMFEX) at 3.68%. This indicates that SOAVX's price experiences larger fluctuations and is considered to be riskier than AMFEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOAVX	AMFEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	3.68%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	11.12%	7.68%	+3.44%
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	9.90%	+4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	14.23%	+3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.48%	16.93%	+1.55%

SOAVX vs. AMFEX - Expense Ratio Comparison

SOAVX has a 1.50% expense ratio, which is higher than AMFEX's 1.17% expense ratio.

Dividends

SOAVX vs. AMFEX - Dividend Comparison

SOAVX's dividend yield for the trailing twelve months is around 8.21%, less than AMFEX's 10.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMFEX AAMA Equity Fund	10.60%	11.99%	9.19%	0.92%	4.82%	0.22%	0.44%	0.78%	0.83%	0.00%	0.00%	0.00%
SOAVX Spirit of America Large Cap Value Fund	8.21%	9.29%	6.42%	5.31%	9.80%	6.68%	5.72%	6.21%	7.56%	5.56%	6.31%	3.20%

Frequently Asked Questions

Can I hold both SOAVX and AMFEX in my portfolio?

SOAVX and AMFEX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOAVX or AMFEX?

SOAVX has higher volatility (5.32%) compared to AMFEX (3.68%). In terms of maximum drawdown, SOAVX dropped -47.48% vs AMFEX's -30.41%.

Which has better risk-adjusted returns?

AMFEX currently has the higher Sharpe Ratio (2.88 vs 2.09), 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.