TDVFX Performance — Towle Value Fund
Data updated: 2026-02-24
TDVFX returned +1.50% over one year to Dec 2025. Annualised returns are +3.20% over 3 years and +6.28% over 5 years. The fund trailed its US Small Value category average: $100 invested three years ago grew to $110, against $135 for the category, and to $102 over one year, against $106. Volatility over the past three years was 24.16% a year. In the 12 months to Dec 2025 the fund lost a net $2.8M, and assets reached $86.72M.
TDVFX Growth of $100
What $100 invested in Towle Value Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Value category average over the same months.
| Period | TDVFX | Category average |
|---|---|---|
| 1 year (Jan 2025 – Dec 2025) | $102 | $106 |
| 3 years (Jan 2023 – Dec 2025) | $110 | $135 |
| 5 years (Jan 2021 – Dec 2025) | $136 | $155 |
| Since data start (Jan 2020 – Dec 2025) | $143 | $167 |
TDVFX Trailing Returns
Total returns to Dec 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +1.50% |
| 3 years (annualised) | +3.20% |
| 5 years (annualised) | +6.28% |
TDVFX Annual Returns
Calendar-year total returns of Towle Value Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 | +1.50% |
| 2024 | −9.01% |
| 2023 | +19.03% |
| 2022 | −2.20% |
| 2021 | +26.16% |
| 2020 | +5.59% |
TDVFX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +3.7% | −9.2% | −9.2% | −5.7% | +10.5% | +5.1% | −1.8% | +7.3% | +1.6% | +0.4% | +2.8% | −1.9% |
| 2024 | −2.1% | +1.6% | +3.3% | −7.8% | +3.2% | −6.5% | +5.5% | −6.6% | +0.2% | −4.4% | +11.0% | −5.0% |
| 2023 | +13.9% | −4.0% | −8.0% | −5.1% | −6.4% | +13.0% | +9.0% | −7.0% | −1.3% | −4.9% | +10.6% | +11.9% |
| 2022 | −3.7% | +3.4% | +2.3% | −2.9% | +6.7% | −13.4% | +8.5% | −3.2% | −11.5% | +16.5% | +8.8% | −9.2% |
| 2021 | +2.6% | +12.8% | +10.7% | +2.7% | +3.1% | −6.4% | −3.4% | +2.0% | −1.7% | +3.0% | −4.7% | +4.7% |
| 2020 | −5.8% | −13.2% | −37.8% | +23.8% | +6.9% | +5.6% | +6.6% | +5.2% | −2.2% | +4.8% | +19.7% | +8.1% |
TDVFX Risk
Risk measures from monthly returns over Jan 2023 – Dec 2025.
- 3-year volatility (annualised): 24.16%
- 3-year Sharpe ratio: -0.05 (vs 4.5% risk-free rate)
- Best month: +13.87% (Jan 2023)
- Worst month: −9.17% (Mar 2025)
TDVFX Fund Flows
Monthly money in and out of Towle Value Fund, from SEC Form N-PORT.
- 12-month net flow: −$2.8M
- 12-month gross sales (incl. reinvestments): $13.4M
- Sales ÷ redemptions: 0.83×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Dec 2025 | $416K | $2.5M | −$2.1M |
| Nov 2025 | $292K | $1.1M | −$846K |
| Oct 2025 | $22K | $281K | −$259K |
| Sep 2025 | $240K | $967K | −$727K |
| Aug 2025 | $118K | $980K | −$862K |
| Jul 2025 | $120K | $443K | −$323K |
| Jun 2025 | $455K | $424K | $31K |
| May 2025 | $2.6M | $666K | $1.9M |
| Apr 2025 | $2.6M | $1.2M | $1.5M |
| Mar 2025 | $1.3M | $2.8M | −$1.5M |
| Feb 2025 | $336K | $2.3M | −$1.9M |
| Jan 2025 | $4.9M | $2.5M | $2.3M |
TDVFX Assets Under Management
Net assets of Towle Value Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-12-31 | $86.72M |
| 2025-09-30 | $89.13M |
| 2025-06-30 | $85.13M |
| 2025-03-31 | $74.13M |
| 2024-12-31 | $88.07M |
| 2024-09-30 | $103.11M |
| 2024-06-30 | $107.53M |
| 2024-03-31 | $119.99M |
| 2023-12-31 | $120.00M |
| 2023-09-30 | $100.92M |
| 2023-06-30 | $108.01M |
| 2023-03-31 | $110.27M |
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.