Fund Evaluator:
Ave Maria Value (AVEMX)
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Best Performing in Mid-Cap Blend Over the Last Year
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Fund Details
Ave Maria Value Overview
Ave Maria Value (AVEMX) is an actively managed U.S. Equity Mid-Cap Blend fund. Ave Maria Mutual Funds launched the fund in 2001.
The investment seeks long-term capital appreciation. The fund invests primarily in common stocks believed by the adviser to be priced at a discount to their true value according to the Adviser's criteria for value. Under normal circumstances, all of its equity investments (which include common stocks, preferred stocks and securities convertible into common stock) and at least 80% of its net assets will be invested in companies meeting its religious criteria. The fund invests in securities of established companies of various market capitalizations.
About Ave Maria Value (AVEMX)
There are 2 members of the management team with an average tenure of 8.17 years: Timothy Schwartz (2016), Ryan Kuyawa (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P MidCap 400 TR index with a weighting of 100%. Ave Maria Value has 34 securities in its portfolio. The top 10 holdings constitute 57.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Ave Maria Value is part of the Equity global asset class and is within the U.S. Equity fund group. Ave Maria Value has 9.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.6%. There is 9.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Ave Maria Value has 4.5% of the portfolio in cash.
Assets Under Management
The fund has $546 million in total assets, which is below the $1 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AVEMX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Ave Maria Value expense ratio is high compared to funds in the Mid-Cap Blend category. Ave Maria Value has an expense ratio of 0.92%, which is 6% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Ave Maria Value has a portfolio turnover rate of 24%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 53% for the Mid-Cap Blend category.
Recently, in the month of August 2026, Ave Maria Value returned 2.8%, which earned it a grade of A, as the Mid-Cap Blend category had an average return of 0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Ave Maria Value has a trailing yield of 0.29%, which is below the 0.48% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Ave Maria Value Grades
Year to date, the fund has returned 16.3%, 2.6 percentage points better than the category, which translates into a grade of B. The fund has returned 14.8% over the past year (grade of C), 12.8% over the past three years (grade of D) and 10.3% per year over the past five years (grade of A) and 11.0% per year over the past 10 years (grade of B).
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AVEMX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AVEMX Return (NAV) | 2.8% | 5.6% | 14.8% | 12.8% | 10.3% | 11.0% |
| AVEMX Grade | A | A | C | D | A | B |
| +/- Category | 2.1% | 2.8% | -0.7% | -1.0% | 3.1% | 0.6% |
| Mid-Cap Blend Avg | 0.7% | 2.8% | 15.4% | 13.8% | 7.2% | 10.4% |
| AVEMX Tax Cost Ratio | na | na | 0.1% | 1.1% | 1.1% | 1.2% |
AVEMX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AVEMX Return (NAV) | 16.3% | 2.8% | 21.5% | 3.5% | 4.2% | 25.2% | 6.2% | 20.5% | -8.7% | 17.7% | 16.4% |
| AVEMX Grade | B | F | A | F | A | C | F | F | B | B | B |
| +/- Category | 2.6% | -5.1% | 8.0% | -12.9% | 19.3% | 0.9% | -7.3% | -8.0% | 1.5% | 1.6% | 2.0% |
| Mid-Cap Blend Avg | 13.6% | 7.9% | 13.5% | 16.4% | -15.2% | 24.2% | 13.4% | 28.6% | -10.2% | 16.2% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 15.9% |
| Total Risk Index: | 1.31 - Above Average |
| Category Risk Index: | 1.02 - Above Average |
| Category Risk Grade: | D (72% Rank) |
| Beta: | 0.50 |
| R-Squared: | 17% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $546 Mil |
| Fund Total Assets: | $ 546 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 24% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.7 years | |||
| Average Tenure: 8.2 years | |||
| Managers (Year): Schwartz Timothy (2016), Kuyawa Ryan (2021) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 34 |
| % in Top 10 Holdings: | 57.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.9% |
Portfolio Allocation |
|
| Domestic Stock: | 85.6% |
| Foreign Stock: | 9.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.5% |
Purchase Information
| Fund Family: | Ave Maria Mutual Funds |
| Phone Number: | 888-726-9331 |
| Website: | www.schwartzvaluefund.com |
| Status: | Open |
| Inception Date: | May 1, 2001 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Ave Maria Value |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
