ARSVX vs. ARDEX

Last updated Jun 4, 2026

ARSVX (AMG River Road Small Cap Value Fund) and ARDEX (AMG River Road Dividend All Cap Value Fund) are both mutual funds - ARSVX is a Small Cap Value Equities fund managed by AMG, while ARDEX is a Large Cap Value Equities fund managed by AMG. Over the past 10 years, ARSVX returned 8.84%/yr vs 4.23%/yr for ARDEX. Their correlation of 0.85 suggests significant overlap in exposure. ARSVX charges 1.35%/yr vs 0.97%/yr for ARDEX.

Performance

ARSVX vs. ARDEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG River Road Small Cap Value Fund (ARSVX) and AMG River Road Dividend All Cap Value Fund (ARDEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARSVX achieves a -0.70% return, which is significantly lower than ARDEX's 10.84% return. Over the past 10 years, ARSVX has outperformed ARDEX with an annualized return of 8.84%, while ARDEX has yielded a comparatively lower 4.23% annualized return.

ARSVX

• 1D: 0.07%
• 1M: -0.77%
• YTD: -0.70%
• 6M: -10.33%
• 1Y: -5.57%
• 3Y*: 5.66%
• 5Y*: 3.00%
• 10Y*: 8.84%

ARDEX

• 1D: 0.73%
• 1M: 2.80%
• YTD: 10.84%
• 6M: -10.98%
• 1Y: -6.14%
• 3Y*: 5.73%
• 5Y*: -0.60%
• 10Y*: 4.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARSVX vs. ARDEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARSVX AMG River Road Small Cap Value Fund	-0.70%	-7.36%	14.05%	14.86%	-6.49%	21.14%	1.84%	38.29%	-6.96%	11.73%
ARDEX AMG River Road Dividend All Cap Value Fund	10.84%	-14.13%	16.20%	2.04%	-3.64%	4.16%	-2.18%	23.20%	-7.61%	8.78%

Correlation

The correlation between ARSVX and ARDEX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 30, 2005	0.85

The correlation between ARSVX and ARDEX shifts across timeframes, from 0.75 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ARSVX vs. ARDEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARSVX

ARSVX Risk / Return Rank: 2
ARSVX Sharpe Ratio Rank: 2
ARSVX Sortino Ratio Rank: 2
ARSVX Omega Ratio Rank: 2
ARSVX Calmar Ratio Rank: 2
ARSVX Martin Ratio Rank: 2

ARDEX

ARDEX Risk / Return Rank: 2
ARDEX Sharpe Ratio Rank: 2
ARDEX Sortino Ratio Rank: 2
ARDEX Omega Ratio Rank: 1
ARDEX Calmar Ratio Rank: 1
ARDEX Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARSVX vs. ARDEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG River Road Small Cap Value Fund (ARSVX) and AMG River Road Dividend All Cap Value Fund (ARDEX). 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.

	ARSVX	ARDEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	-0.26	0.00
Sortino ratio: Return per unit of downside risk	-0.23	-0.15	-0.08
Omega ratio: Gain probability vs. loss probability	0.97	0.95	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.27	-0.29	+0.01
Martin ratio: Return relative to average drawdown	-0.56	-0.55	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARSVX vs. ARDEX - Sharpe Ratio Comparison

The current ARSVX Sharpe Ratio is -0.27, which is comparable to the ARDEX Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of ARSVX and ARDEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARSVX	ARDEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	-0.26	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	-0.01	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.13	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.24	+0.16

Drawdowns

ARSVX vs. ARDEX - Drawdown Comparison

The maximum ARSVX drawdown since its inception was -54.85%, which is greater than ARDEX's maximum drawdown of -52.16%. Use the drawdown chart below to compare losses from any high point for ARSVX and ARDEX.

Drawdown Indicators

	ARSVX	ARDEX	Difference
Max Drawdown Largest peak-to-trough decline	-54.85%	-52.16%	-2.69%
Max Drawdown (1Y) Largest decline over 1 year	-16.62%	-20.51%	+3.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	-52.16%	+32.95%
Max Drawdown (5Y) Largest decline over 5 years	-19.21%	-52.16%	+32.95%
Max Drawdown (10Y) Largest decline over 10 years	-40.52%	-52.16%	+11.64%
Current Drawdown Current decline from peak	-13.56%	-46.77%	+33.21%
Average Drawdown Average peak-to-trough decline	-8.68%	-10.47%	+1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.08%	10.66%	-2.58%

Volatility

ARSVX vs. ARDEX - Volatility Comparison

AMG River Road Small Cap Value Fund (ARSVX) has a higher volatility of 3.58% compared to AMG River Road Dividend All Cap Value Fund (ARDEX) at 1.94%. This indicates that ARSVX's price experiences larger fluctuations and is considered to be riskier than ARDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARSVX	ARDEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	1.94%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	13.76%	23.57%	-9.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.10%	22.39%	-5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.86%	41.86%	-24.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	32.41%	-13.06%

ARSVX vs. ARDEX - Expense Ratio Comparison

ARSVX has a 1.35% expense ratio, which is higher than ARDEX's 0.97% expense ratio.

Dividends

ARSVX vs. ARDEX - Dividend Comparison

ARSVX has not paid dividends to shareholders, while ARDEX's dividend yield for the trailing twelve months is around 4.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARDEX AMG River Road Dividend All Cap Value Fund	4.65%	5.85%	79.78%	4.42%	14.36%	5.37%	2.12%	8.71%	9.10%	6.83%	9.31%	11.69%
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

Can I hold both ARSVX and ARDEX in my portfolio?

ARSVX and ARDEX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARSVX or ARDEX?

ARSVX has higher volatility (3.58%) compared to ARDEX (1.94%). In terms of maximum drawdown, ARSVX dropped -54.85% vs ARDEX's -52.16%.

Which has better risk-adjusted returns?

ARDEX currently has the higher Sharpe Ratio (-0.26 vs -0.27), 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.