ARDEX vs. GWMIX
ARDEX (AMG River Road Dividend All Cap Value Fund) and GWMIX (AMG GW&K Municipal Bond Fund) are both mutual funds - ARDEX is a Large Cap Value Equities fund managed by AMG, while GWMIX is a Municipal Bonds fund managed by AMG. Over the past 10 years, ARDEX returned 4.23%/yr vs 2.20%/yr for GWMIX. At a correlation of -0.09, they often move in opposite directions. ARDEX charges 0.97%/yr vs 0.39%/yr for GWMIX.
Performance
ARDEX vs. GWMIX - Performance Comparison
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Returns By Period
In the year-to-date period, ARDEX achieves a 12.93% return, which is significantly higher than GWMIX's 1.09% return. Over the past 10 years, ARDEX has outperformed GWMIX with an annualized return of 4.23%, while GWMIX has yielded a comparatively lower 2.20% annualized return.
ARDEX
- 1D
- 0.36%
- 1M
- 1.33%
- 6M
- 11.16%
- YTD
- 12.93%
- 1Y
- -6.79%
- 3Y*
- 5.46%
- 5Y*
- -0.14%
- 10Y*
- 4.23%
GWMIX
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 0.14%
- YTD
- 1.09%
- 1Y
- 6.56%
- 3Y*
- 3.58%
- 5Y*
- 1.54%
- 10Y*
- 2.20%
ARDEX vs. GWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARDEX AMG River Road Dividend All Cap Value Fund | 12.93% | -14.13% | 16.20% | 2.04% | -3.64% | 4.16% | -2.18% | 23.20% | -7.61% | 8.78% |
GWMIX AMG GW&K Municipal Bond Fund | 1.09% | 5.52% | 0.04% | 6.04% | -7.45% | 4.19% | 4.70% | 7.91% | 0.87% | 4.80% |
Correlation
The correlation between ARDEX and GWMIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | -0.09 |
The correlation between ARDEX and GWMIX shifts across timeframes, from -0.09 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ARDEX vs. GWMIX — Risk / Return Rank
ARDEX
GWMIX
ARDEX vs. GWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG River Road Dividend All Cap Value Fund (ARDEX) and AMG GW&K Municipal Bond Fund (GWMIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARDEX | GWMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.53 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.57 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 1.65 | -2.03 |
| Martin ratioReturn relative to average drawdown | -0.68 | 4.87 | -5.55 |
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Drawdowns
ARDEX vs. GWMIX - Drawdown Comparison
The maximum ARDEX drawdown since its inception was -52.16%, which is greater than GWMIX's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for ARDEX and GWMIX.
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Drawdown Indicators
| ARDEX | GWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.16% | -12.27% | -39.89% |
Max Drawdown (1Y)Largest decline over 1 year | -20.51% | -3.89% | -16.62% |
Max Drawdown (3Y)Largest decline over 3 years | -52.16% | -5.41% | -46.75% |
Max Drawdown (5Y)Largest decline over 5 years | -52.16% | -12.27% | -39.89% |
Max Drawdown (10Y)Largest decline over 10 years | -52.16% | -12.27% | -39.89% |
Current DrawdownCurrent decline from peak | -45.76% | -1.52% | -44.24% |
Average DrawdownAverage peak-to-trough decline | -10.64% | -1.97% | -8.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.23% | 1.31% | +9.92% |
Volatility
ARDEX vs. GWMIX - Volatility Comparison
AMG River Road Dividend All Cap Value Fund (ARDEX) has a higher volatility of 2.90% compared to AMG GW&K Municipal Bond Fund (GWMIX) at 0.51%. This indicates that ARDEX's price experiences larger fluctuations and is considered to be riskier than GWMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARDEX | GWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 0.51% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 2.25% | +4.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.38% | 2.72% | +19.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.86% | 4.13% | +37.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.38% | 3.99% | +28.39% |
ARDEX vs. GWMIX - Expense Ratio Comparison
ARDEX has a 0.97% expense ratio, which is higher than GWMIX's 0.39% expense ratio.
Dividends
ARDEX vs. GWMIX - Dividend Comparison
ARDEX's dividend yield for the trailing twelve months is around 3.81%, more than GWMIX's 2.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDEX AMG River Road Dividend All Cap Value Fund | 3.81% | 5.85% | 79.78% | 4.42% | 14.36% | 5.37% | 2.12% | 8.71% | 9.10% | 6.83% | 9.31% | 11.69% |
GWMIX AMG GW&K Municipal Bond Fund | 2.74% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
Frequently Asked Questions
ARDEX and GWMIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARDEX has higher volatility (2.90%) compared to GWMIX (0.51%). In terms of maximum drawdown, ARDEX dropped -52.16% vs GWMIX's -12.27%.
GWMIX currently has the higher Sharpe Ratio (2.36 vs -0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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