AVALX vs. RYPNX
Compare and contrast key facts about Aegis Value Fund (AVALX) and Royce Opportunity Fund (RYPNX).
AVALX is managed by Aegis. It was launched on May 15, 1998. RYPNX is managed by Royce Investment Partners. It was launched on Nov 19, 1996.
Performance
AVALX vs. RYPNX - Performance Comparison
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Returns By Period
In the year-to-date period, AVALX achieves a 16.01% return, which is significantly higher than RYPNX's 7.57% return. Over the past 10 years, AVALX has outperformed RYPNX with an annualized return of 21.90%, while RYPNX has yielded a comparatively lower 13.31% annualized return.
AVALX
- 1D
- 0.04%
- 1M
- -1.49%
- YTD
- 16.01%
- 6M
- 25.92%
- 1Y
- 91.87%
- 3Y*
- 28.69%
- 5Y*
- 25.44%
- 10Y*
- 21.90%
RYPNX
- 1D
- 0.41%
- 1M
- -2.63%
- YTD
- 7.57%
- 6M
- 7.89%
- 1Y
- 55.97%
- 3Y*
- 14.45%
- 5Y*
- 6.16%
- 10Y*
- 13.31%
AVALX vs. RYPNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AVALX Aegis Value Fund | 16.01% | 67.06% | 8.29% | 13.11% | 10.50% | 37.67% | 18.89% | 25.67% | -16.95% | 17.37% |
RYPNX Royce Opportunity Fund | 7.57% | 11.95% | 10.20% | 19.72% | -17.19% | 30.34% | 26.52% | 28.24% | -20.10% | 21.69% |
Correlation
The correlation between AVALX and RYPNX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.
AVALX vs. RYPNX - Expense Ratio Comparison
AVALX has a 1.50% expense ratio, which is higher than RYPNX's 1.21% expense ratio.
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Return for Risk
AVALX vs. RYPNX — Risk / Return Rank
AVALX
RYPNX
AVALX vs. RYPNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aegis Value Fund (AVALX) and Royce Opportunity Fund (RYPNX). 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.
| AVALX | RYPNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.37 | 1.31 | +2.05 |
Sortino ratioReturn per unit of downside risk | 4.02 | 1.89 | +2.13 |
Omega ratioGain probability vs. loss probability | 1.61 | 1.25 | +0.35 |
Calmar ratioReturn relative to maximum drawdown | 5.55 | 2.37 | +3.19 |
Martin ratioReturn relative to average drawdown | 26.72 | 8.94 | +17.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AVALX | RYPNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.37 | 1.31 | +2.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | 0.26 | +0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 0.53 | +0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.51 | +0.02 |
Drawdowns
AVALX vs. RYPNX - Drawdown Comparison
The maximum AVALX drawdown since its inception was -73.72%, which is greater than RYPNX's maximum drawdown of -69.31%. Use the drawdown chart below to compare losses from any high point for AVALX and RYPNX.
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Drawdown Indicators
| AVALX | RYPNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.72% | -69.31% | -4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.32% | -12.01% | +3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -32.00% | -30.77% | -1.23% |
Max Drawdown (10Y)Largest decline over 10 years | -48.34% | -50.61% | +2.27% |
Current DrawdownCurrent decline from peak | -4.04% | -5.69% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -11.00% | -10.72% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 4.25% | -1.54% |
Volatility
AVALX vs. RYPNX - Volatility Comparison
The current volatility for Aegis Value Fund (AVALX) is 5.37%, while Royce Opportunity Fund (RYPNX) has a volatility of 7.77%. This indicates that AVALX experiences smaller price fluctuations and is considered to be less risky than RYPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVALX | RYPNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.37% | 7.77% | -2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 14.38% | 16.48% | -2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.22% | 27.15% | -5.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 24.27% | -1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.32% | 25.29% | -2.97% |
Dividends
AVALX vs. RYPNX - Dividend Comparison
AVALX's dividend yield for the trailing twelve months is around 2.02%, less than RYPNX's 8.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVALX Aegis Value Fund | 2.02% | 2.34% | 7.07% | 2.23% | 0.16% | 0.00% | 6.62% | 2.36% | 6.18% | 0.00% | 1.45% | 0.04% |
RYPNX Royce Opportunity Fund | 8.95% | 9.63% | 7.95% | 4.52% | 5.12% | 22.51% | 0.00% | 1.57% | 10.21% | 14.91% | 6.89% | 10.04% |