VESMX Performance — VELA Small Cap Fund, Class I
Data updated: 2026-09-04
VESMX returned +6.50% year to date and +16.06% over one year to Jun 2026. Annualised returns are +10.42% over 3 years and +7.25% over 5 years. The fund trailed its US Small Value category average: $100 invested three years ago grew to $135, against $153 for the category, and to $116 over one year, against $131. Volatility over the past three years was 13.24% a year. In the 12 months to Jun 2026 the fund took in a net $26.4M, and assets reached $181.64M.
VESMX Growth of $100
What $100 invested in VELA Small Cap 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 | VESMX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $116 | $131 |
| 3 years (Jul 2023 – Jun 2026) | $135 | $153 |
| 5 years (Jul 2021 – Jun 2026) | $142 | $149 |
| Since data start (Oct 2020 – Jun 2026) | $226 | $236 |
VESMX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.50% |
| 1 year | +16.06% |
| 3 years (annualised) | +10.42% |
| 5 years (annualised) | +7.25% |
VESMX Annual Returns
Calendar-year total returns of VELA Small Cap Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +6.50% |
| 2025 | +8.13% |
| 2024 | +10.77% |
| 2023 | +11.21% |
| 2022 | −5.52% |
| 2021 | +31.59% |
| 2020 (Oct–Dec) | +28.18% |
VESMX 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 | +4.1% | +1.6% | −5.2% | +4.5% | −1.4% | +3.1% | — | — | — | — | — | — |
| 2025 | +4.3% | −4.1% | −5.0% | −3.3% | +4.2% | +3.5% | −0.9% | +5.4% | −1.4% | −0.4% | +5.3% | +0.8% |
| 2024 | −0.9% | +4.8% | +4.3% | −2.5% | +4.0% | −2.0% | +5.9% | −0.7% | −1.5% | −1.7% | +6.6% | −5.3% |
| 2023 | +5.7% | −0.6% | −5.2% | +0.5% | −2.3% | +7.7% | +3.5% | −2.5% | −2.6% | −4.3% | +4.6% | +7.4% |
| 2022 | −3.1% | +2.2% | +0.5% | −6.3% | +2.8% | −7.6% | +6.5% | −1.5% | −8.0% | +12.7% | +4.2% | −5.9% |
| 2021 | +2.0% | +13.6% | +5.7% | +1.5% | +1.3% | −1.3% | −1.9% | +0.2% | −0.7% | +5.3% | −2.8% | +5.9% |
| 2020 | — | — | — | — | — | — | — | — | — | +4.0% | +16.4% | +5.8% |
VESMX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 13.24%
- 3-year Sharpe ratio: 0.45 (vs 4.5% risk-free rate)
- Best month: +7.37% (Dec 2023)
- Worst month: −5.32% (Dec 2024)
VESMX Fund Flows
Monthly money in and out of VELA Small Cap Fund, from SEC Form N-PORT.
- 12-month net flow: $26.4M
- 12-month gross sales (incl. reinvestments): $41.3M
- Sales ÷ redemptions: 2.78×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $7.4M | $1.7M | $5.6M |
| May 2026 | $2.3M | $2.0M | $337K |
| Apr 2026 | $1.9M | $3.2M | −$1.3M |
| Mar 2026 | $6.2M | $910K | $5.3M |
| Feb 2026 | $3.1M | $736K | $2.4M |
| Jan 2026 | $6.2M | $766K | $5.5M |
| Dec 2025 | $4.2M | $1.1M | $3.2M |
| Nov 2025 | $1.2M | $602K | $572K |
| Oct 2025 | $1.1M | $1.2M | −$78K |
| Sep 2025 | $2.3M | $1.3M | $952K |
| Aug 2025 | $3.0M | $666K | $2.4M |
| Jul 2025 | $2.3M | $738K | $1.5M |
VESMX Assets Under Management
Net assets of VELA Small Cap Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $181.64M |
| 2026-03-31 | $166.53M |
| 2025-12-31 | $153.48M |
| 2025-09-30 | $143.01M |
| 2025-06-30 | $134.13M |
| 2025-03-31 | $109.39M |
| 2024-12-31 | $112.65M |
| 2024-09-30 | $107.15M |
| 2024-06-30 | $96.01M |
| 2024-03-31 | $91.55M |
| 2023-12-31 | $82.22M |
| 2023-09-30 | $75.40M |
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.