ARSMX vs. HWSAX
ARSMX (AMG River Road Small-Mid Cap Value Fund) and HWSAX (Hotchkis & Wiley Small Cap Value Fund Class A) are both Small Cap Value Equities funds. Over the past 10 years, ARSMX returned 9.82%/yr vs 10.92%/yr for HWSAX. Their correlation of 0.90 suggests significant overlap in exposure. ARSMX charges 1.27%/yr vs 1.21%/yr for HWSAX.
Performance
ARSMX vs. HWSAX - 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 HWSAX's 15.10% return. Over the past 10 years, ARSMX has underperformed HWSAX with an annualized return of 9.82%, while HWSAX has yielded a comparatively higher 10.92% annualized return.
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%
HWSAX
- 1D
- -0.20%
- 1M
- 0.71%
- YTD
- 15.10%
- 6M
- 13.57%
- 1Y
- 22.58%
- 3Y*
- 12.41%
- 5Y*
- 9.56%
- 10Y*
- 10.92%
ARSMX vs. HWSAX - 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% |
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A | 15.10% | 1.38% | 4.77% | 18.56% | 2.81% | 35.32% | -0.50% | 20.26% | -15.23% | 7.39% |
Correlation
The correlation between ARSMX and HWSAX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.90 |
The correlation between ARSMX and HWSAX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
ARSMX vs. HWSAX — Risk / Return Rank
ARSMX
HWSAX
ARSMX vs. HWSAX - 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 Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). 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 | HWSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.25 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 2.34 | -2.03 |
| Martin ratioReturn relative to average drawdown | 0.71 | 7.65 | -6.93 |
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Drawdowns
ARSMX vs. HWSAX - Drawdown Comparison
The maximum ARSMX drawdown since its inception was -51.75%, smaller than the maximum HWSAX drawdown of -72.14%. Use the drawdown chart below to compare losses from any high point for ARSMX and HWSAX.
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Drawdown Indicators
| ARSMX | HWSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.75% | -72.14% | +20.39% |
Max Drawdown (1Y)Largest decline over 1 year | -10.37% | -10.06% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -19.34% | -26.98% | +7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -19.34% | -26.98% | +7.64% |
Max Drawdown (10Y)Largest decline over 10 years | -42.96% | -53.82% | +10.86% |
Current DrawdownCurrent decline from peak | -5.36% | -2.78% | -2.58% |
Average DrawdownAverage peak-to-trough decline | -8.10% | -10.94% | +2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.48% | 3.07% | +1.41% |
Volatility
ARSMX vs. HWSAX - Volatility Comparison
The current volatility for AMG River Road Small-Mid Cap Value Fund (ARSMX) is 3.05%, while Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) has a volatility of 3.90%. This indicates that ARSMX experiences smaller price fluctuations and is considered to be less risky than HWSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARSMX | HWSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 3.90% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 11.15% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.45% | 17.18% | -2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.76% | 21.48% | -3.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 24.62% | -5.04% |
ARSMX vs. HWSAX - Expense Ratio Comparison
ARSMX has a 1.27% expense ratio, which is higher than HWSAX's 1.21% expense ratio.
Dividends
ARSMX vs. HWSAX - Dividend Comparison
ARSMX has not paid dividends to shareholders, while HWSAX's dividend yield for the trailing twelve months is around 0.60%.
| 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% |
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A | 0.60% | 0.69% | 8.19% | 1.79% | 13.39% | 0.22% | 0.63% | 4.62% | 9.45% | 4.80% | 0.00% | 11.67% |
Frequently Asked Questions
ARSMX and HWSAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HWSAX has higher volatility (3.90%) compared to ARSMX (3.05%). In terms of maximum drawdown, ARSMX dropped -51.75% vs HWSAX's -72.14%.
HWSAX currently has the higher Sharpe Ratio (1.37 vs 0.22), 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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