Fund Evaluator:
Ave Maria World Equity (AVEWX)
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Best Performing in Global Large-Stock Growth Over the Last Year
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| 22.5% | Fidelity Advisor Worldwide Z (FIQOX) |
Fund Details
Ave Maria World Equity Overview
Ave Maria World Equity (AVEWX) is an actively managed International Equity Global Large-Stock Growth fund. Ave Maria Mutual Funds launched the fund in 2010.
The investment seeks long-term capital appreciation. The fund will invest at least 80% of its net assets, including the amount of any borrowings for investment purposes, in common stocks of U.S. and non-U.S. companies. It will invest at least 60% of its net assets in common stocks issued by non-U.S. companies. Under normal circumstances, all of the fund's 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 the fund's religious criteria. It invests in securities of established companies of various market capitalizations.
About Ave Maria World Equity (AVEWX)
There are 2 members of the management team with an average tenure of 5.01 years: Anthony Gennaro (2021), Sean Gaffney (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. Ave Maria World Equity has 51 securities in its portfolio. The top 10 holdings constitute 40.4% 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 World Equity is part of the Equity global asset class and is within the International Equity fund group. Ave Maria World Equity has 61.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 37.6%. There is 61.9% 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 World Equity has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $160 million in total assets, which is below the $964 million average for the Global Large-Stock Growth 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.
AVEWX 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 World Equity expense ratio is high compared to funds in the Global Large-Stock Growth category. Ave Maria World Equity has an expense ratio of 1.01%, which is 9% 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 World Equity has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 46% for the Global Large-Stock Growth category.
Recently, in the month of August 2026, Ave Maria World Equity returned 2.6%, which earned it a grade of B, as the Global Large-Stock Growth category had an average return of 2.2%. 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 World Equity has a trailing yield of 0.20%, which is below the 0.25% 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 World Equity Grades
Year to date, the fund has returned 17.7%, 9.4 percentage points better than the category, which translates into a grade of A. The fund has returned 15.6% over the past year (grade of B), 13.9% over the past three years (grade of D) and 8.4% per year over the past five years (grade of B) and 9.1% per year over the past 10 years (grade of F).
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AVEWX 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 |
|
| AVEWX Return (NAV) | 2.6% | 7.1% | 15.6% | 13.9% | 8.4% | 9.1% |
| AVEWX Grade | B | A | B | D | B | F |
| +/- Category | 0.4% | 6.6% | 2.8% | -2.5% | 2.3% | -3.2% |
| Global Large-Stock Growth Avg | 2.2% | 0.5% | 12.8% | 16.5% | 6.1% | 12.3% |
| AVEWX Tax Cost Ratio | na | na | 0.6% | 0.6% | 0.5% | 0.7% |
AVEWX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AVEWX Return (NAV) | 17.7% | 10.6% | 4.6% | 25.0% | -15.5% | 21.1% | -0.2% | 27.7% | -8.9% | 17.9% | 8.7% |
| AVEWX Grade | A | D | F | C | A | A | F | F | D | F | A |
| +/- Category | 9.4% | -5.7% | -13.0% | -0.4% | 11.3% | 6.3% | -33.2% | -3.1% | -1.7% | -12.9% | 7.2% |
| Global Large-Stock Growth Avg | 8.4% | 16.3% | 17.6% | 25.4% | -26.8% | 14.8% | 33.0% | 30.7% | -7.1% | 30.8% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 14.6% |
| Total Risk Index: | 1.20 - Above Average |
| Category Risk Index: | 0.96 - Average |
| Category Risk Grade: | C (49% Rank) |
| Beta: | 1.03 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $160 Mil |
| Fund Total Assets: | $ 161 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 19% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.7 years | |||
| Average Tenure: 5.0 years | |||
| Managers (Year): Gennaro Anthony (2021), Gaffney Sean (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 51 |
| % in Top 10 Holdings: | 40.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 61.9% |
Portfolio Allocation |
|
| Domestic Stock: | 37.6% |
| Foreign Stock: | 61.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Fund Family: | Ave Maria Mutual Funds |
| Phone Number: | 888-726-9331 |
| Website: | www.schwartzvaluefund.com |
| Status: | Open |
| Inception Date: | April 30, 2010 |
| 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 (%): | 1.01% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.12% |
| Share Class: | Ave Maria World Equity |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
