ARSMX vs. ARSVX
ARSMX (AMG River Road Small-Mid Cap Value Fund) and ARSVX (AMG River Road Small Cap Value Fund) are both Small Cap Value Equities funds from AMG. Over the past 10 years, ARSMX returned 9.82%/yr vs 9.40%/yr for ARSVX. With a 0.98 correlation, they move nearly in lockstep. ARSMX charges 1.27%/yr vs 1.35%/yr for ARSVX.
Performance
ARSMX vs. ARSVX - Performance Comparison
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Returns By Period
In the year-to-date period, ARSMX achieves a 2.31% return, which is significantly lower than ARSVX's 3.07% return. Both investments have delivered pretty close results over the past 10 years, with ARSMX having a 9.82% annualized return and ARSVX not far behind at 9.40%.
ARSMX
- 1D
- -0.41%
- 1M
- 1.99%
- YTD
- 2.31%
- 6M
- 0.93%
- 1Y
- 1.88%
- 3Y*
- 9.21%
- 5Y*
- 4.70%
- 10Y*
- 9.82%
ARSVX
- 1D
- -0.20%
- 1M
- 3.00%
- YTD
- 3.07%
- 6M
- 1.86%
- 1Y
- -2.83%
- 3Y*
- 7.00%
- 5Y*
- 4.14%
- 10Y*
- 9.40%
ARSMX vs. ARSVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARSMX AMG River Road Small-Mid Cap Value Fund | 2.31% | -0.83% | 12.42% | 14.48% | -8.62% | 23.41% | 1.71% | 34.82% | -6.44% | 15.26% |
ARSVX AMG River Road Small Cap Value Fund | 3.07% | -7.36% | 14.05% | 14.86% | -6.49% | 21.14% | 1.84% | 38.29% | -6.96% | 11.73% |
Correlation
The correlation between ARSMX and ARSVX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.98 |
The correlation between ARSMX and ARSVX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
ARSMX vs. ARSVX — Risk / Return Rank
ARSMX
ARSVX
ARSMX vs. ARSVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG River Road Small-Mid Cap Value Fund (ARSMX) and AMG River Road Small Cap Value Fund (ARSVX). 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.
| ARSMX | ARSVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.00 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | -0.10 | +0.41 |
| Martin ratioReturn relative to average drawdown | 0.71 | -0.20 | +0.91 |
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Drawdowns
ARSMX vs. ARSVX - Drawdown Comparison
The maximum ARSMX drawdown since its inception was -51.75%, smaller than the maximum ARSVX drawdown of -54.85%. Use the drawdown chart below to compare losses from any high point for ARSMX and ARSVX.
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Drawdown Indicators
| ARSMX | ARSVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.75% | -54.85% | +3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.37% | -16.62% | +6.25% |
Max Drawdown (3Y)Largest decline over 3 years | -19.34% | -19.21% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -19.34% | -19.21% | -0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -42.96% | -40.52% | -2.44% |
Current DrawdownCurrent decline from peak | -5.36% | -10.28% | +4.92% |
Average DrawdownAverage peak-to-trough decline | -8.10% | -8.68% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.48% | 8.38% | -3.90% |
Volatility
ARSMX vs. ARSVX - Volatility Comparison
The current volatility for AMG River Road Small-Mid Cap Value Fund (ARSMX) is 3.05%, while AMG River Road Small Cap Value Fund (ARSVX) has a volatility of 3.22%. This indicates that ARSMX experiences smaller price fluctuations and is considered to be less risky than ARSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARSMX | ARSVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 3.22% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 13.85% | -3.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.45% | 17.14% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.76% | 17.85% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 19.36% | +0.22% |
ARSMX vs. ARSVX - Expense Ratio Comparison
ARSMX has a 1.27% expense ratio, which is lower than ARSVX's 1.35% expense ratio.
Dividends
ARSMX vs. ARSVX - Dividend Comparison
Neither ARSMX nor ARSVX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARSMX AMG River Road Small-Mid Cap Value Fund | 0.00% | 0.00% | 9.27% | 3.89% | 4.85% | 5.86% | 0.00% | 3.60% | 8.60% | 15.66% | 8.03% | 17.82% |
ARSVX AMG River Road Small Cap Value Fund | 0.00% | 0.00% | 8.50% | 4.78% | 3.87% | 7.75% | 0.00% | 12.10% | 13.01% | 14.96% | 4.96% | 6.51% |
Frequently Asked Questions
With a correlation of 0.97, ARSMX and ARSVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ARSVX has higher volatility (3.22%) compared to ARSMX (3.05%). In terms of maximum drawdown, ARSMX dropped -51.75% vs ARSVX's -54.85%.
ARSMX currently has the higher Sharpe Ratio (0.22 vs -0.10), 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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