Fund Evaluator:
Kirr Marbach Partners Value (KMVAX)
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Best Performing in Mid-Cap Blend Over the Last Year
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Fund Details
Kirr Marbach Partners Value Overview
Kirr Marbach Partners Value (KMVAX) is an actively managed U.S. Equity Mid-Cap Blend fund. Kirr Marbach Partners launched the fund in 1998.
The investment seeks long-term capital growth. The fund seeks to achieve its investment objective by investing in common stocks of companies with small-capitalizations (less than $1 billion), medium-capitalizations ($1-$15 billion) and large-capitalizations (more than $15 billion). Under normal circumstances, at least 65% of its total assets will consist of common stocks or other equity securities.
About Kirr Marbach Partners Value (KMVAX)
There are 1 members of the management team with an average tenure of 27.68 years: Mark Foster (1998). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Kirr Marbach Partners Value has 41 securities in its portfolio. The top 10 holdings constitute 54.1% 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.
Kirr Marbach Partners Value is part of the Equity global asset class and is within the U.S. Equity fund group. Kirr Marbach Partners Value has 11.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.7%. There is 11.6% 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). Kirr Marbach Partners Value has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $106 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.
KMVAX 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 Kirr Marbach Partners Value expense ratio is high compared to funds in the Mid-Cap Blend category. Kirr Marbach Partners Value has an expense ratio of 1.25%, which is 28% higher than its category average, making the fund expense ratio grade a D. 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. Kirr Marbach Partners Value has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 53% for the Mid-Cap Blend category.
Recently, in the month of August 2026, Kirr Marbach Partners Value returned -2.1%, which earned it a grade of F, 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.
Kirr Marbach Partners Value has a trailing yield of 0.00%, 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.
Kirr Marbach Partners Value Grades
Year to date, the fund has returned 8.6%, 5.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.5% over the past year (grade of F), 18.1% over the past three years (grade of A) and 11.3% per year over the past five years (grade of A) and 10.5% per year over the past 10 years (grade of C).
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KMVAX 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 |
|
| KMVAX Return (NAV) | -2.1% | -4.5% | 4.5% | 18.1% | 11.3% | 10.5% |
| KMVAX Grade | F | F | F | A | A | C |
| +/- Category | -2.8% | -7.3% | -11.0% | 4.3% | 4.1% | 0.1% |
| Mid-Cap Blend Avg | 0.7% | 2.8% | 15.4% | 13.8% | 7.2% | 10.4% |
| KMVAX Tax Cost Ratio | na | na | 1.2% | 1.2% | 1.1% | 1.1% |
KMVAX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| KMVAX Return (NAV) | 8.6% | 14.4% | 27.9% | 20.4% | -16.0% | 28.8% | 3.0% | 27.0% | -19.6% | 16.1% | 10.8% |
| KMVAX Grade | F | A | A | A | D | A | F | C | F | C | D |
| +/- Category | -5.0% | 6.5% | 14.3% | 4.0% | -0.8% | 4.6% | -10.5% | -1.5% | -9.4% | -0.1% | -3.6% |
| 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: | 16.1% |
| Total Risk Index: | 1.33 - Above Average |
| Category Risk Index: | 1.03 - Above Average |
| Category Risk Grade: | D (74% Rank) |
| Beta: | 1.04 |
| R-Squared: | 70% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $106 Mil |
| Fund Total Assets: | $ 107 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 10% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 27.7 years | |||
| Average Tenure: 27.7 years | |||
| Managers (Year): Foster Mark (1998) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 41 |
| % in Top 10 Holdings: | 54.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.6% |
Portfolio Allocation |
|
| Domestic Stock: | 87.7% |
| Foreign Stock: | 11.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.7% |
Purchase Information
| Fund Family: | Kirr Marbach Partners |
| Phone Number: | 800-870-8039 |
| Website: | www.kmpartnersfunds.com |
| Status: | Open |
| Inception Date: | December 31, 1998 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | 0.07% |
Expenses and Fees | |
| Expense Ratio (%): | 1.25% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Kirr Marbach Partners Value |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
