NCAVX Performance — Nuance Concentrated Value Fund, Investor Class
Data updated: 2026-09-28
NCAVX returned +13.52% year to date and +17.22% over one year to Jul 2026. Annualised returns are +7.35% over 3 years and +5.23% over 5 years. The fund trailed its Global Mid-Cap Value category average: $100 invested three years ago grew to $124, against $155 for the category, and to $117 over one year, against $126. Volatility over the past three years was 15.45% a year. In the 12 months to Jul 2026 the fund lost a net $72.7M, and assets reached $42.16M.
NCAVX Growth of $100
What $100 invested in Nuance Concentrated Value Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Mid-Cap Value category average over the same months.
| Period | NCAVX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $117 | $126 |
| 3 years (Aug 2023 – Jul 2026) | $124 | $155 |
| 5 years (Aug 2021 – Jul 2026) | $129 | $175 |
| Since data start (Aug 2019 – Jul 2026) | $157 | $211 |
NCAVX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +13.52% |
| 1 year | +17.22% |
| 3 years (annualised) | +7.35% |
| 5 years (annualised) | +5.23% |
NCAVX Annual Returns
Calendar-year total returns of Nuance Concentrated Value Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +13.52% |
| 2025 | +3.11% |
| 2024 | +5.86% |
| 2023 | +9.65% |
| 2022 | −5.13% |
| 2021 | +9.49% |
| 2020 | +2.79% |
| 2019 (Aug–Dec) | +8.24% |
NCAVX 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 | +5.8% | +5.7% | −9.6% | +0.7% | +2.2% | +5.2% | +3.8% | — | — | — | — | — |
| 2025 | +4.0% | −6.0% | −3.1% | −2.0% | +3.6% | +2.7% | +1.1% | +2.3% | −2.2% | −0.6% | +2.9% | +0.9% |
| 2024 | −4.0% | −0.6% | +4.6% | −0.4% | +1.7% | −2.9% | +7.4% | +3.1% | +3.9% | −6.2% | +3.9% | −3.8% |
| 2023 | +4.7% | −0.7% | +0.8% | +5.0% | −5.7% | +4.9% | +0.9% | −5.1% | −7.2% | −2.5% | +8.4% | +7.2% |
| 2022 | −0.9% | +1.2% | −0.3% | −2.9% | +1.5% | −5.8% | +1.1% | −4.2% | −7.2% | +8.5% | +6.6% | −1.6% |
| 2021 | −0.6% | +1.0% | +3.9% | +4.4% | +0.6% | −0.8% | +0.7% | +0.4% | −2.9% | +1.5% | −4.0% | +5.4% |
| 2020 | −3.5% | −6.4% | −11.8% | +8.0% | +4.5% | −1.0% | +1.3% | +1.9% | −2.9% | +2.5% | +8.7% | +3.3% |
| 2019 | — | — | — | — | — | — | — | −2.4% | +3.1% | +0.6% | +5.0% | +1.8% |
NCAVX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 15.45%
- 3-year Sharpe ratio: 0.18 (vs 4.5% risk-free rate)
- Best month: +8.36% (Nov 2023)
- Worst month: −9.61% (Mar 2026)
NCAVX Fund Flows
Monthly money in and out of Nuance Concentrated Value Fund, from SEC Form N-PORT.
- 12-month net flow: −$72.7M
- 12-month gross sales (incl. reinvestments): $4.4M
- Sales ÷ redemptions: 0.06×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $74K | $2.2M | −$2.2M |
| Jun 2026 | $60K | $1.9M | −$1.9M |
| May 2026 | $376K | $1.5M | −$1.2M |
| Apr 2026 | $429K | $7.0M | −$6.6M |
| Mar 2026 | $202K | $2.1M | −$1.9M |
| Feb 2026 | $128K | $5.6M | −$5.5M |
| Jan 2026 | $108K | $2.6M | −$2.5M |
| Dec 2025 | $750K | $4.0M | −$3.2M |
| Nov 2025 | $305K | $3.7M | −$3.4M |
| Oct 2025 | $733K | $14.6M | −$13.9M |
| Sep 2025 | $1.0M | $3.0M | −$1.9M |
| Aug 2025 | $226K | $28.9M | −$28.6M |
NCAVX Assets Under Management
Net assets of Nuance Concentrated Value Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $42.16M |
| 2026-04-30 | $42.75M |
| 2026-01-31 | $58.47M |
| 2025-10-31 | $62.74M |
| 2025-07-31 | $107.20M |
| 2025-04-30 | $114.32M |
| 2025-01-31 | $137.26M |
| 2024-10-31 | $176.44M |
| 2024-07-31 | $184.94M |
| 2024-04-30 | $197.92M |
| 2024-01-31 | $201.47M |
| 2023-10-31 | $223.40M |
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.