QCVAX Performance — Clearwater International Fund
Data updated: 2026-08-26
QCVAX returned +14.34% year to date and +17.21% over one year to Jun 2026. Annualised returns are +16.26% over 3 years and +7.89% over 5 years. The fund trailed its International Multi-Cap Blend category average: $100 invested three years ago grew to $157, against $162 for the category, and to $117 over one year, against $122. Volatility over the past three years was 13.53% a year. In the 12 months to Jun 2026 the fund took in a net $35.5M, and assets reached $1.31B.
QCVAX Growth of $100
What $100 invested in Clearwater International Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the International Multi-Cap Blend category average over the same months.
| Period | QCVAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $117 | $122 |
| 3 years (Jul 2023 – Jun 2026) | $157 | $162 |
| 5 years (Jul 2021 – Jun 2026) | $146 | $154 |
| Since data start (Jul 2019 – Jun 2026) | $212 | $200 |
QCVAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +14.34% |
| 1 year | +17.21% |
| 3 years (annualised) | +16.26% |
| 5 years (annualised) | +7.89% |
QCVAX Annual Returns
Calendar-year total returns of Clearwater International Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +14.34% |
| 2025 | +22.19% |
| 2024 | +5.46% |
| 2023 | +19.66% |
| 2022 | −19.47% |
| 2021 | +15.39% |
| 2020 | +19.01% |
| 2019 (Jul–Dec) | +8.71% |
QCVAX 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 | +4.6% | +4.1% | −8.3% | +8.9% | +4.5% | +0.7% | — | — | — | — | — | — |
| 2025 | +4.1% | +1.4% | −1.6% | +4.2% | +5.9% | +4.0% | −2.0% | +2.8% | +1.9% | −0.5% | −1.4% | +1.8% |
| 2024 | −0.1% | +3.5% | +2.3% | −3.3% | +4.3% | −0.8% | +2.6% | +3.3% | +0.7% | −4.3% | +1.4% | −3.8% |
| 2023 | +8.7% | −2.8% | +2.8% | +1.8% | −2.9% | +4.4% | +2.4% | −3.2% | −4.0% | −3.7% | +10.0% | +5.9% |
| 2022 | −6.2% | −3.5% | +0.4% | −7.0% | +0.6% | −9.4% | +6.4% | −5.5% | −10.2% | +5.8% | +12.0% | −2.2% |
| 2021 | −0.8% | +2.9% | +1.8% | +4.5% | +3.3% | −0.1% | +1.3% | +2.4% | −3.8% | +3.1% | −4.3% | +4.5% |
| 2020 | −2.5% | −7.3% | −15.5% | +9.5% | +6.2% | +4.7% | +4.4% | +4.9% | −1.5% | −2.3% | +13.8% | +6.8% |
| 2019 | — | — | — | — | — | — | −1.4% | −1.6% | +2.0% | +3.1% | +2.1% | +4.3% |
QCVAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 13.53%
- 3-year Sharpe ratio: 0.87 (vs 4.5% risk-free rate)
- Best month: +9.95% (Nov 2023)
- Worst month: −8.35% (Mar 2026)
QCVAX Fund Flows
Monthly money in and out of Clearwater International Fund, from SEC Form N-PORT.
- 12-month net flow: $35.5M
- 12-month gross sales (incl. reinvestments): $126.0M
- Sales ÷ redemptions: 1.39×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $269K | $4.7M | −$4.4M |
| May 2026 | $372K | $3.2M | −$2.9M |
| Apr 2026 | $7K | $11.8M | −$11.8M |
| Mar 2026 | $279K | $7.2M | −$6.9M |
| Feb 2026 | $139K | $2.6M | −$2.5M |
| Jan 2026 | $1.1M | $7.2M | −$6.0M |
| Dec 2025 | $119.3M | $25.5M | $93.7M |
| Nov 2025 | $1.4M | $5.3M | −$3.9M |
| Oct 2025 | $610K | $6.2M | −$5.6M |
| Sep 2025 | $111K | $9.1M | −$9.0M |
| Aug 2025 | $2.2M | $2.4M | −$187K |
| Jul 2025 | $138K | $5.2M | −$5.0M |
QCVAX Assets Under Management
Net assets of Clearwater International Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.31B |
| 2026-03-31 | $1.16B |
| 2025-12-31 | $1.17B |
| 2025-09-30 | $1.21B |
| 2025-06-30 | $1.19B |
| 2025-03-31 | $1.06B |
| 2024-12-31 | $1.02B |
| 2024-09-30 | $1.11B |
| 2024-06-28 | $1.04B |
| 2024-03-28 | $1.05B |
| 2023-12-29 | $1.02B |
| 2023-09-29 | $912.77M |
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.