VEITX vs. VESMX

Last updated Apr 2, 2026

Compare and contrast key facts about VELA International Fund (VEITX) and VELA Small Cap Fund (VESMX).

VEITX is managed by VELA Funds. It was launched on Sep 29, 2020. VESMX is managed by VELA Funds. It was launched on Sep 29, 2020.

Performance

VEITX vs. VESMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VELA International Fund (VEITX) and VELA Small Cap Fund (VESMX). The values are adjusted to include any dividend payments, if applicable.

VEITX vs. VESMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VEITX VELA International Fund	-0.69%	31.00%	3.91%	15.92%	-6.88%	7.33%	21.40%
VESMX VELA Small Cap Fund	0.20%	8.12%	10.77%	11.22%	-5.53%	31.60%	21.26%

Returns By Period

In the year-to-date period, VEITX achieves a -0.69% return, which is significantly lower than VESMX's 0.20% return.

VEITX

• 1D: 2.45%
• 1M: -5.52%
• YTD: -0.69%
• 6M: 1.90%
• 1Y: 20.40%
• 3Y*: 13.21%
• 5Y*: 7.82%
• 10Y*: —

VESMX

• 1D: 1.79%
• 1M: -5.61%
• YTD: 0.20%
• 6M: 6.44%
• 1Y: 13.81%
• 3Y*: 10.24%
• 5Y*: 5.98%
• 10Y*: —

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

VEITX vs. VESMX - Expense Ratio Comparison

Both VEITX and VESMX have an expense ratio of 1.20%.

VEITX

VELA International Fund

VESMX

VELA Small Cap Fund

Return for Risk

VEITX vs. VESMX — Risk / Return Rank

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

VEITX

VEITX Risk / Return Rank: 64
VEITX Sharpe Ratio Rank: 70
VEITX Sortino Ratio Rank: 68
VEITX Omega Ratio Rank: 64
VEITX Calmar Ratio Rank: 63
VEITX Martin Ratio Rank: 57

VESMX

VESMX Risk / Return Rank: 27
VESMX Sharpe Ratio Rank: 25
VESMX Sortino Ratio Rank: 26
VESMX Omega Ratio Rank: 24
VESMX Calmar Ratio Rank: 31
VESMX Martin Ratio Rank: 31

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.

VEITX vs. VESMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VELA International Fund (VEITX) and VELA Small Cap Fund (VESMX). 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.

	VEITX	VESMX	Difference
Sharpe ratio Return per unit of total volatility	1.40	0.74	+0.66
Sortino ratio Return per unit of downside risk	1.93	1.16	+0.77
Omega ratio Gain probability vs. loss probability	1.28	1.16	+0.12
Calmar ratio Return relative to maximum drawdown	1.77	1.10	+0.67
Martin ratio Return relative to average drawdown	6.69	4.08	+2.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEITX vs. VESMX - Sharpe Ratio Comparison

The current VEITX Sharpe Ratio is 1.40, which is higher than the VESMX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of VEITX and VESMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VEITX	VESMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	0.74	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.34	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.76	+0.13

Correlation

The correlation between VEITX and VESMX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VEITX vs. VESMX - Dividend Comparison

VEITX's dividend yield for the trailing twelve months is around 8.25%, more than VESMX's 1.01% yield.

	TTM	2025	2024	2023	2022	2021	2020
VEITX VELA International Fund	8.25%	7.97%	3.63%	2.28%	1.65%	0.65%	0.00%
VESMX VELA Small Cap Fund	1.01%	1.01%	0.22%	0.66%	0.69%	0.98%	0.06%

Drawdowns

VEITX vs. VESMX - Drawdown Comparison

The maximum VEITX drawdown since its inception was -27.99%, which is greater than VESMX's maximum drawdown of -20.35%. Use the drawdown chart below to compare losses from any high point for VEITX and VESMX.

Drawdown Indicators

	VEITX	VESMX	Difference
Max Drawdown Largest peak-to-trough decline	-27.99%	-20.35%	-7.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-12.74%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	-27.99%	-20.35%	-7.64%
Current Drawdown Current decline from peak	-7.27%	-6.56%	-0.71%
Average Drawdown Average peak-to-trough decline	-5.87%	-4.58%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	3.43%	-0.51%

Volatility

VEITX vs. VESMX - Volatility Comparison

VELA International Fund (VEITX) has a higher volatility of 6.11% compared to VELA Small Cap Fund (VESMX) at 5.12%. This indicates that VEITX's price experiences larger fluctuations and is considered to be riskier than VESMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEITX	VESMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	5.12%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	10.15%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	19.01%	-4.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.26%	17.52%	-3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.48%	18.35%	-3.87%