Ariel Appreciation Fund

Frequently Asked Questions About CAAPX

What does CAAPX invest in?

The Ariel Appreciation Fund primarily allocates its capital to mid-capitalization companies deemed undervalued but possessing robust growth potential. Its portfolio predominantly consists of shares in American firms whose market capitalization falls within the typical range of constituents of the Russell Midcap® Index, as assessed at the moment of the initial investment. The investment approach employed by the fund is grounded in the Adviser's contrarian philosophy, a method underpinned by three core, interconnected principles: patience, focus, and independent thinking.

What is the expense ratio of CAAPX?

Ariel Appreciation Fund (CAAPX) charges an expense ratio of 1.15%. This is the annual fee deducted from fund assets to cover management and operations.

How big is CAAPX?

Ariel Appreciation Fund (CAAPX) manages $960.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is CAAPX actively managed or an index fund?

CAAPX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was CAAPX launched?

Ariel Appreciation Fund (CAAPX) launched in November 1989 and is managed by the fund issuer.

How has CAAPX performed?

CAAPX's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.