AFDZX Performance — Applied Finance Explorer Fund, Institutional Class
Data updated: 2026-09-23
AFDZX returned +18.60% year to date and +29.07% over one year to Jul 2026. Annualised returns are +15.40% over 3 years and +11.36% over 5 years. The fund beat its US Small Blend category average: $100 invested three years ago grew to $154, against $146 for the category, and to $129 over one year, against $129. Volatility over the past three years was 16.80% a year. In the 12 months to Jul 2026 the fund lost a net $28.1M, and assets reached $1.05B.
AFDZX Growth of $100
What $100 invested in Applied Finance Explorer Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | AFDZX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $129 | $129 |
| 3 years (Aug 2023 – Jul 2026) | $154 | $146 |
| 5 years (Aug 2021 – Jul 2026) | $171 | $141 |
| Since data start (Feb 2020 – Jul 2026) | $270 | $200 |
AFDZX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +18.60% |
| 1 year | +29.07% |
| 3 years (annualised) | +15.40% |
| 5 years (annualised) | +11.36% |
AFDZX Annual Returns
Calendar-year total returns of Applied Finance Explorer Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +18.60% |
| 2025 | +9.22% |
| 2024 | +9.84% |
| 2023 | +22.44% |
| 2022 | −13.68% |
| 2021 | +43.70% |
| 2020 (Feb–Dec) | +24.93% |
AFDZX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.3% | +1.8% | −3.4% | +8.3% | +0.2% | +6.5% | +1.1% | — | — | — | — | — |
| 2025 | +3.8% | −4.7% | −4.0% | −3.0% | +4.3% | +3.9% | +0.6% | +9.2% | −0.1% | −2.4% | +2.3% | −0.1% |
| 2024 | −1.9% | +2.9% | +4.3% | −4.7% | +3.9% | −2.1% | +11.0% | −1.0% | +0.9% | −1.9% | +8.1% | −8.3% |
| 2023 | +9.3% | −1.6% | −5.5% | −1.3% | −2.0% | +9.9% | +5.0% | −2.0% | −3.4% | −4.8% | +7.6% | +11.3% |
| 2022 | −6.6% | +2.1% | +1.8% | −7.1% | +3.2% | −12.2% | +11.6% | −3.6% | −10.3% | +10.7% | +5.1% | −5.9% |
| 2021 | +4.9% | +8.4% | +6.4% | +2.5% | +3.8% | 0.0% | −1.9% | +2.0% | +0.2% | +4.8% | +1.5% | +4.7% |
| 2020 | — | −8.8% | −22.9% | +15.2% | +7.1% | +2.1% | +7.4% | +5.7% | +0.9% | −0.9% | +16.3% | +6.9% |
AFDZX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 16.80%
- 3-year Sharpe ratio: 0.65 (vs 4.5% risk-free rate)
- Best month: +11.34% (Dec 2023)
- Worst month: −8.32% (Dec 2024)
AFDZX Fund Flows
Monthly money in and out of Applied Finance Explorer Fund, from SEC Form N-PORT.
- 12-month net flow: −$28.1M
- 12-month gross sales (incl. reinvestments): $207.4M
- Sales ÷ redemptions: 0.88×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $9.3M | $12.9M | −$3.7M |
| Jun 2026 | $8.6M | $17.4M | −$8.8M |
| May 2026 | $10.4M | $12.8M | −$2.4M |
| Apr 2026 | $8.1M | $18.2M | −$10.1M |
| Mar 2026 | $12.3M | $21.1M | −$8.8M |
| Feb 2026 | $37.8M | $34.4M | $3.4M |
| Jan 2026 | $14.7M | $32.2M | −$17.5M |
| Dec 2025 | $33.9M | $21.2M | $12.7M |
| Nov 2025 | $23.1M | $17.3M | $5.8M |
| Oct 2025 | $15.1M | $17.0M | −$1.9M |
| Sep 2025 | $20.0M | $14.4M | $5.6M |
| Aug 2025 | $14.2M | $16.7M | −$2.5M |
AFDZX Assets Under Management
Net assets of Applied Finance Explorer Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $1.05B |
| 2026-04-30 | $989.14M |
| 2026-01-31 | $944.00M |
| 2025-10-31 | $920.51M |
| 2025-07-31 | $863.06M |
| 2025-04-30 | $731.54M |
| 2025-01-31 | $826.43M |
| 2024-10-31 | $791.30M |
| 2024-07-31 | $788.95M |
| 2024-04-30 | $655.92M |
| 2024-01-31 | $557.22M |
| 2023-10-31 | $428.01M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.