CVAPX Performance — ClearBridge Variable Appreciation Portfolio, Class II
Data updated: 2026-05-28
CVAPX returned −3.76% year to date and +13.57% over one year to Mar 2026. Annualised returns are +15.51% over 3 years and +10.54% over 5 years. Against its US Large Blend category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $154, against $150 for the category, and to $114 over one year, against $114. Volatility over the past three years was 11.03% a year. In the 12 months to Mar 2026 the fund took in a net $53.7M, and assets reached $1.12B.
CVAPX Growth of $100
What $100 invested in ClearBridge Variable Appreciation Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Large Blend category average over the same months.
| Period | CVAPX | Category average |
|---|---|---|
| 1 year (Apr 2025 – Mar 2026) | $114 | $114 |
| 3 years (Apr 2023 – Mar 2026) | $154 | $150 |
| 5 years (Apr 2021 – Mar 2026) | $165 | $155 |
| Since data start (Jul 2019 – Mar 2026) | $218 | $205 |
CVAPX Trailing Returns
Total returns to Mar 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −3.76% |
| 1 year | +13.57% |
| 3 years (annualised) | +15.51% |
| 5 years (annualised) | +10.54% |
CVAPX Annual Returns
Calendar-year total returns of ClearBridge Variable Appreciation Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Mar) | −3.76% |
| 2025 | +14.21% |
| 2024 | +22.37% |
| 2023 | +19.38% |
| 2022 | −12.67% |
| 2021 | +23.34% |
| 2020 | +14.51% |
| 2019 (Jul–Dec) | +9.89% |
CVAPX 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 | +2.1% | −0.3% | −5.5% | — | — | — | — | — | — | — | — | — |
| 2025 | +2.9% | −0.7% | −5.3% | 0.0% | +5.6% | +4.5% | +2.0% | +1.3% | +2.5% | +1.1% | +0.8% | −0.9% |
| 2024 | +3.0% | +4.8% | +3.0% | −4.2% | +4.7% | +2.8% | +0.7% | +3.0% | +0.9% | −1.0% | +5.9% | −2.7% |
| 2023 | +3.3% | −2.9% | +3.8% | +2.6% | −0.8% | +6.3% | +1.9% | −0.5% | −4.7% | −0.5% | +7.0% | +2.8% |
| 2022 | −4.1% | −3.4% | +3.4% | −6.9% | +1.0% | −7.1% | +7.6% | −3.4% | −8.4% | +8.6% | +5.7% | −4.5% |
| 2021 | −1.9% | +1.7% | +5.1% | +5.5% | +1.0% | +1.4% | +2.4% | +2.2% | −4.9% | +7.0% | −2.1% | +4.5% |
| 2020 | −0.7% | −8.5% | −11.6% | +11.2% | +4.0% | +1.4% | +5.6% | +7.6% | −3.5% | −2.6% | +10.7% | +2.9% |
| 2019 | — | — | — | — | — | — | +1.5% | −1.1% | +1.4% | +1.8% | +3.2% | +2.8% |
CVAPX Risk
Risk measures from monthly returns over Apr 2023 – Mar 2026.
- 3-year volatility (annualised): 11.03%
- 3-year Sharpe ratio: 1.00 (vs 4.5% risk-free rate)
- Best month: +7.03% (Nov 2023)
- Worst month: −5.46% (Mar 2026)
CVAPX Fund Flows
Monthly money in and out of ClearBridge Variable Appreciation Portfolio, from SEC Form N-PORT.
- 12-month net flow: $53.7M
- 12-month gross sales (incl. reinvestments): $220.8M
- Sales ÷ redemptions: 1.32×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Mar 2026 | $2.0M | $9.6M | −$7.6M |
| Feb 2026 | $2.4M | $6.9M | −$4.5M |
| Jan 2026 | $2.4M | $8.3M | −$5.9M |
| Dec 2025 | $174.7M | $11.5M | $163.2M |
| Nov 2025 | $3.0M | $9.8M | −$6.8M |
| Oct 2025 | $5.3M | $39.6M | −$34.3M |
| Sep 2025 | $1.8M | $10.5M | −$8.6M |
| Aug 2025 | $2.7M | $14.2M | −$11.5M |
| Jul 2025 | $1.5M | $11.6M | −$10.1M |
| Jun 2025 | $10.6M | $9.4M | $1.2M |
| May 2025 | $3.0M | $25.9M | −$22.9M |
| Apr 2025 | $11.3M | $9.7M | $1.6M |
CVAPX Assets Under Management
Net assets of ClearBridge Variable Appreciation Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-03-31 | $1.12B |
| 2025-12-31 | $1.18B |
| 2025-09-30 | $1.22B |
| 2025-06-30 | $1.18B |
| 2025-03-31 | $1.10B |
| 2024-12-31 | $1.15B |
| 2024-09-30 | $1.15B |
| 2024-06-28 | $1.12B |
| 2024-03-28 | $1.12B |
| 2023-12-29 | $1.02B |
| 2023-09-29 | $947.64M |
| 2023-06-30 | $993.18M |
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.