VALAX vs. LOMAX

Last updated Jun 3, 2026

VALAX (Al Frank Fund) and LOMAX (Edgar Lomax Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, VALAX returned 14.25%/yr vs 10.54%/yr for LOMAX. Their correlation of 0.89 suggests significant overlap in exposure. VALAX charges 1.24%/yr vs 0.70%/yr for LOMAX.

Performance

VALAX vs. LOMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Al Frank Fund (VALAX) and Edgar Lomax Value Fund (LOMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VALAX achieves a 21.52% return, which is significantly higher than LOMAX's 8.76% return. Over the past 10 years, VALAX has outperformed LOMAX with an annualized return of 14.25%, while LOMAX has yielded a comparatively lower 10.54% annualized return.

VALAX

• 1D: -0.03%
• 1M: 5.37%
• YTD: 21.52%
• 6M: 23.95%
• 1Y: 51.82%
• 3Y*: 24.34%
• 5Y*: 11.44%
• 10Y*: 14.25%

LOMAX

• 1D: -0.79%
• 1M: -1.13%
• YTD: 8.76%
• 6M: 10.66%
• 1Y: 24.57%
• 3Y*: 16.29%
• 5Y*: 9.51%
• 10Y*: 10.54%

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

VALAX vs. LOMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VALAX Al Frank Fund	21.52%	23.57%	13.35%	14.05%	-13.50%	24.97%	10.22%	33.98%	-7.87%	18.09%
LOMAX Edgar Lomax Value Fund	8.76%	18.09%	10.29%	5.19%	-0.46%	25.80%	-5.77%	23.27%	-3.31%	19.52%

Correlation

The correlation between VALAX and LOMAX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.89

Over the past year, the correlation between VALAX and LOMAX has dropped to 0.63 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

Return for Risk

VALAX vs. LOMAX — Risk / Return Rank

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

VALAX

VALAX Risk / Return Rank: 95
VALAX Sharpe Ratio Rank: 98
VALAX Sortino Ratio Rank: 95
VALAX Omega Ratio Rank: 92
VALAX Calmar Ratio Rank: 96
VALAX Martin Ratio Rank: 96

LOMAX

LOMAX Risk / Return Rank: 79
LOMAX Sharpe Ratio Rank: 76
LOMAX Sortino Ratio Rank: 79
LOMAX Omega Ratio Rank: 60
LOMAX Calmar Ratio Rank: 93
LOMAX Martin Ratio Rank: 88

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.

VALAX vs. LOMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Al Frank Fund (VALAX) and Edgar Lomax Value Fund (LOMAX). 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.

	VALAX	LOMAX	Difference
Sharpe ratio Return per unit of total volatility	3.85	2.54	+1.31
Sortino ratio Return per unit of downside risk	5.16	3.73	+1.43
Omega ratio Gain probability vs. loss probability	1.68	1.43	+0.25
Calmar ratio Return relative to maximum drawdown	6.06	5.16	+0.90
Martin ratio Return relative to average drawdown	24.28	17.15	+7.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VALAX vs. LOMAX - Sharpe Ratio Comparison

The current VALAX Sharpe Ratio is 3.85, which is higher than the LOMAX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of VALAX and LOMAX, 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

	VALAX	LOMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.85	2.54	+1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.72	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.64	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.40	+0.04

Drawdowns

VALAX vs. LOMAX - Drawdown Comparison

The maximum VALAX drawdown since its inception was -61.26%, which is greater than LOMAX's maximum drawdown of -57.82%. Use the drawdown chart below to compare losses from any high point for VALAX and LOMAX.

Drawdown Indicators

	VALAX	LOMAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.26%	-57.82%	-3.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	-4.86%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-25.81%	-11.93%	-13.88%
Max Drawdown (5Y) Largest decline over 5 years	-25.81%	-17.50%	-8.31%
Max Drawdown (10Y) Largest decline over 10 years	-38.22%	-37.81%	-0.41%
Current Drawdown Current decline from peak	-0.03%	-1.85%	+1.82%
Average Drawdown Average peak-to-trough decline	-10.75%	-9.40%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.46%	+0.68%

Volatility

VALAX vs. LOMAX - Volatility Comparison

Al Frank Fund (VALAX) has a higher volatility of 4.05% compared to Edgar Lomax Value Fund (LOMAX) at 2.74%. This indicates that VALAX's price experiences larger fluctuations and is considered to be riskier than LOMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VALAX	LOMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	2.74%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	6.97%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	13.65%	9.78%	+3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.77%	13.23%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.34%	16.50%	+2.84%

VALAX vs. LOMAX - Expense Ratio Comparison

VALAX has a 1.24% expense ratio, which is higher than LOMAX's 0.70% expense ratio.

Dividends

VALAX vs. LOMAX - Dividend Comparison

VALAX's dividend yield for the trailing twelve months is around 7.12%, more than LOMAX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LOMAX Edgar Lomax Value Fund	5.83%	6.34%	6.27%	4.66%	7.73%	5.11%	12.52%	2.16%	15.97%	8.80%	2.68%	15.54%
VALAX Al Frank Fund	7.12%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Frequently Asked Questions

Can I hold both VALAX and LOMAX in my portfolio?

VALAX and LOMAX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VALAX or LOMAX?

VALAX has higher volatility (4.05%) compared to LOMAX (2.74%). In terms of maximum drawdown, VALAX dropped -61.26% vs LOMAX's -57.82%.

Which has better risk-adjusted returns?

VALAX currently has the higher Sharpe Ratio (3.85 vs 2.54), 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.