ARSVX vs. GWMEX
ARSVX (AMG River Road Small Cap Value Fund) and GWMEX (AMG GW&K Municipal Enhanced Yield Fund) are both mutual funds - ARSVX is a Small Cap Value Equities fund managed by AMG, while GWMEX is a High Yield Muni fund managed by AMG. Over the past 10 years, ARSVX returned 9.24%/yr vs 3.40%/yr for GWMEX. At a correlation of -0.10, they often move in opposite directions. ARSVX charges 1.35%/yr vs 0.64%/yr for GWMEX.
Performance
ARSVX vs. GWMEX - Performance Comparison
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Returns By Period
In the year-to-date period, ARSVX achieves a 3.28% return, which is significantly higher than GWMEX's 2.65% return. Over the past 10 years, ARSVX has outperformed GWMEX with an annualized return of 9.24%, while GWMEX has yielded a comparatively lower 3.40% annualized return.
ARSVX
- 1D
- 1.23%
- 1M
- 3.21%
- YTD
- 3.28%
- 6M
- 1.65%
- 1Y
- -1.46%
- 3Y*
- 6.53%
- 5Y*
- 4.51%
- 10Y*
- 9.24%
GWMEX
- 1D
- 0.11%
- 1M
- 2.40%
- YTD
- 2.65%
- 6M
- 3.00%
- 1Y
- 8.44%
- 3Y*
- 4.23%
- 5Y*
- 1.74%
- 10Y*
- 3.40%
ARSVX vs. GWMEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARSVX AMG River Road Small Cap Value Fund | 3.28% | -7.36% | 14.05% | 14.86% | -6.49% | 21.14% | 1.84% | 38.29% | -6.96% | 11.73% |
GWMEX AMG GW&K Municipal Enhanced Yield Fund | 2.65% | 2.50% | 2.61% | 10.89% | -17.86% | 15.05% | 6.32% | 12.51% | -0.06% | 9.79% |
Correlation
The correlation between ARSVX and GWMEX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | -0.10 |
The correlation between ARSVX and GWMEX shifts across timeframes, from -0.10 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ARSVX vs. GWMEX — Risk / Return Rank
ARSVX
GWMEX
ARSVX vs. GWMEX - 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 GW&K Municipal Enhanced Yield Fund (GWMEX). 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 | GWMEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.52 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.19 | -2.24 |
| Martin ratioReturn relative to average drawdown | -0.10 | 7.78 | -7.88 |
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Drawdowns
ARSVX vs. GWMEX - Drawdown Comparison
The maximum ARSVX drawdown since its inception was -54.85%, which is greater than GWMEX's maximum drawdown of -36.30%. Use the drawdown chart below to compare losses from any high point for ARSVX and GWMEX.
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Drawdown Indicators
| ARSVX | GWMEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.85% | -36.30% | -18.55% |
Max Drawdown (1Y)Largest decline over 1 year | -16.62% | -3.95% | -12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -19.21% | -9.08% | -10.13% |
Max Drawdown (5Y)Largest decline over 5 years | -19.21% | -24.06% | +4.85% |
Max Drawdown (10Y)Largest decline over 10 years | -40.52% | -24.06% | -16.46% |
Current DrawdownCurrent decline from peak | -10.10% | -1.75% | -8.35% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -5.69% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.36% | 1.11% | +7.25% |
Volatility
ARSVX vs. GWMEX - Volatility Comparison
AMG River Road Small Cap Value Fund (ARSVX) has a higher volatility of 3.35% compared to AMG GW&K Municipal Enhanced Yield Fund (GWMEX) at 0.91%. This indicates that ARSVX's price experiences larger fluctuations and is considered to be riskier than GWMEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARSVX | GWMEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 0.91% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 13.85% | 2.93% | +10.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.13% | 3.90% | +13.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.85% | 7.80% | +10.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.36% | 6.75% | +12.61% |
ARSVX vs. GWMEX - Expense Ratio Comparison
ARSVX has a 1.35% expense ratio, which is higher than GWMEX's 0.64% expense ratio.
Dividends
ARSVX vs. GWMEX - Dividend Comparison
ARSVX has not paid dividends to shareholders, while GWMEX's dividend yield for the trailing twelve months is around 3.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GWMEX AMG GW&K Municipal Enhanced Yield Fund | 3.40% | 3.67% | 3.38% | 3.10% | 3.33% | 13.26% | 3.63% | 4.59% | 5.82% | 2.97% | 7.96% | 4.77% |
Frequently Asked Questions
ARSVX and GWMEX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARSVX has higher volatility (3.35%) compared to GWMEX (0.91%). In terms of maximum drawdown, ARSVX dropped -54.85% vs GWMEX's -36.30%.
GWMEX currently has the higher Sharpe Ratio (2.21 vs -0.05), 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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