ARSVX vs. ARSMX
ARSVX (AMG River Road Small Cap Value Fund) and ARSMX (AMG River Road Small-Mid Cap Value Fund) are both Small Cap Value Equities funds from AMG. Over the past 10 years, ARSVX returned 9.53%/yr vs 9.93%/yr for ARSMX. With a 0.98 correlation, they move nearly in lockstep. ARSVX charges 1.35%/yr vs 1.27%/yr for ARSMX.
Performance
ARSVX vs. ARSMX - Performance Comparison
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Returns By Period
In the year-to-date period, ARSVX achieves a 8.37% return, which is significantly higher than ARSMX's 7.87% return. Both investments have delivered pretty close results over the past 10 years, with ARSVX having a 9.53% annualized return and ARSMX not far ahead at 9.93%.
ARSVX
- 1D
- 0.19%
- 1M
- 4.58%
- 6M
- 5.21%
- YTD
- 8.37%
- 1Y
- -2.08%
- 3Y*
- 7.24%
- 5Y*
- 5.61%
- 10Y*
- 9.53%
ARSMX
- 1D
- 0.19%
- 1M
- 3.84%
- 6M
- 4.47%
- YTD
- 7.87%
- 1Y
- 3.52%
- 3Y*
- 9.26%
- 5Y*
- 6.23%
- 10Y*
- 9.93%
ARSVX vs. ARSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARSVX AMG River Road Small Cap Value Fund | 8.37% | -7.36% | 14.05% | 14.86% | -6.49% | 21.14% | 1.84% | 38.29% | -6.96% | 11.73% |
ARSMX AMG River Road Small-Mid Cap Value Fund | 7.87% | -0.83% | 12.42% | 14.48% | -8.62% | 23.41% | 1.71% | 34.82% | -6.44% | 15.26% |
Correlation
The correlation between ARSVX and ARSMX 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 ARSVX and ARSMX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
ARSVX vs. ARSMX — Risk / Return Rank
ARSVX
ARSMX
ARSVX vs. ARSMX - 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 Small-Mid Cap Value Fund (ARSMX). 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.
| ARSVX | ARSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.06 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.36 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.22 | 0.84 | -1.06 |
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Drawdowns
ARSVX vs. ARSMX - Drawdown Comparison
The maximum ARSVX drawdown since its inception was -54.85%, which is greater than ARSMX's maximum drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for ARSVX and ARSMX.
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Drawdown Indicators
| ARSVX | ARSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.85% | -51.75% | -3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -16.62% | -10.37% | -6.25% |
Max Drawdown (3Y)Largest decline over 3 years | -19.21% | -19.34% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -19.21% | -19.34% | +0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -40.52% | -42.96% | +2.44% |
Current DrawdownCurrent decline from peak | -5.67% | -0.22% | -5.45% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -8.08% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 4.49% | +4.01% |
Volatility
ARSVX vs. ARSMX - Volatility Comparison
The current volatility for AMG River Road Small Cap Value Fund (ARSVX) is 3.39%, while AMG River Road Small-Mid Cap Value Fund (ARSMX) has a volatility of 3.68%. This indicates that ARSVX experiences smaller price fluctuations and is considered to be less risky than ARSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARSVX | ARSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 3.68% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 9.08% | 8.97% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 14.43% | +2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.83% | 17.73% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 19.49% | -0.20% |
ARSVX vs. ARSMX - Expense Ratio Comparison
ARSVX has a 1.35% expense ratio, which is higher than ARSMX's 1.27% expense ratio.
Dividends
ARSVX vs. ARSMX - Dividend Comparison
Neither ARSVX nor ARSMX 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, ARSVX and ARSMX 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.
ARSMX has higher volatility (3.68%) compared to ARSVX (3.39%). In terms of maximum drawdown, ARSVX dropped -54.85% vs ARSMX's -51.75%.
ARSMX currently has the higher Sharpe Ratio (0.26 vs -0.11), 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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