GWETX vs. CSMDX

Last updated Jun 23, 2026

GWETX (AMG GW&K Small Cap Core Fund) and CSMDX (Copeland SMID Cap Dividend Growth Fund) are both Small Cap Blend Equities funds. Over the past 5 years, GWETX returned 4.54%/yr vs 5.64%/yr for CSMDX. Their correlation of 0.92 suggests significant overlap in exposure. GWETX charges 1.30%/yr vs 0.95%/yr for CSMDX.

Performance

GWETX vs. CSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG GW&K Small Cap Core Fund (GWETX) and Copeland SMID Cap Dividend Growth Fund (CSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GWETX achieves a 14.63% return, which is significantly higher than CSMDX's 12.52% return.

GWETX

• 1D: 1.81%
• 1M: 4.09%
• YTD: 14.63%
• 6M: 11.77%
• 1Y: 20.12%
• 3Y*: 11.00%
• 5Y*: 4.54%
• 10Y*: 10.11%

CSMDX

• 1D: 1.36%
• 1M: 1.48%
• YTD: 12.52%
• 6M: 10.28%
• 1Y: 17.42%
• 3Y*: 7.83%
• 5Y*: 5.64%
• 10Y*: —

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

GWETX vs. CSMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GWETX AMG GW&K Small Cap Core Fund	14.63%	-0.62%	13.60%	8.03%	-16.60%	21.09%	17.72%	38.10%	-14.03%	14.41%
CSMDX Copeland SMID Cap Dividend Growth Fund	12.52%	2.72%	2.24%	18.89%	-14.89%	22.60%	8.29%	29.90%	-5.20%	10.44%

Correlation

The correlation between GWETX and CSMDX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 27, 2017	0.92

The correlation between GWETX and CSMDX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

GWETX vs. CSMDX — Risk / Return Rank

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

GWETX

GWETX Risk / Return Rank: 17
GWETX Sharpe Ratio Rank: 15
GWETX Sortino Ratio Rank: 14
GWETX Omega Ratio Rank: 16
GWETX Calmar Ratio Rank: 20
GWETX Martin Ratio Rank: 17

CSMDX

CSMDX Risk / Return Rank: 23
CSMDX Sharpe Ratio Rank: 20
CSMDX Sortino Ratio Rank: 22
CSMDX Omega Ratio Rank: 18
CSMDX Calmar Ratio Rank: 28
CSMDX Martin Ratio Rank: 26

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.

GWETX vs. CSMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Small Cap Core Fund (GWETX) and Copeland SMID Cap Dividend Growth Fund (CSMDX). 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.

	GWETX	CSMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.18	-0.15
Sortino ratio: Return per unit of downside risk	1.45	1.83	-0.38
Omega ratio: Gain probability vs. loss probability	1.20	1.21	-0.01
Calmar ratio: Return relative to maximum drawdown	1.53	1.88	-0.34
Martin ratio: Return relative to average drawdown	4.32	5.74	-1.42

GWETX vs. CSMDX - Sharpe Ratio Comparison

The current GWETX Sharpe Ratio is 1.03, which is comparable to the CSMDX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of GWETX and CSMDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GWETX vs. CSMDX - Drawdown Comparison

The maximum GWETX drawdown since its inception was -67.27%, which is greater than CSMDX's maximum drawdown of -37.28%. Use the drawdown chart below to compare losses from any high point for GWETX and CSMDX.

Drawdown Indicators

	GWETX	CSMDX	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-37.28%	-29.99%
Max Drawdown (1Y) Largest decline over 1 year	-13.26%	-9.20%	-4.06%
Max Drawdown (3Y) Largest decline over 3 years	-24.48%	-24.60%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-30.50%	-24.60%	-5.90%
Max Drawdown (10Y) Largest decline over 10 years	-41.37%	—	—
Current Drawdown Current decline from peak	0.00%	-0.23%	+0.23%
Average Drawdown Average peak-to-trough decline	-19.27%	-5.75%	-13.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	3.00%	+1.67%

Volatility

GWETX vs. CSMDX - Volatility Comparison

AMG GW&K Small Cap Core Fund (GWETX) has a higher volatility of 5.60% compared to Copeland SMID Cap Dividend Growth Fund (CSMDX) at 4.29%. This indicates that GWETX's price experiences larger fluctuations and is considered to be riskier than CSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GWETX	CSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.60%	4.29%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	15.80%	10.59%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.71%	14.66%	+5.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.38%	18.20%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.24%	19.15%	+3.09%

GWETX vs. CSMDX - Expense Ratio Comparison

GWETX has a 1.30% expense ratio, which is higher than CSMDX's 0.95% expense ratio.

Dividends

GWETX vs. CSMDX - Dividend Comparison

GWETX has not paid dividends to shareholders, while CSMDX's dividend yield for the trailing twelve months is around 2.79%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSMDX Copeland SMID Cap Dividend Growth Fund	2.79%	3.14%	1.33%	0.81%	4.07%	6.67%	0.38%	2.61%	4.40%	0.13%	0.00%	0.00%
GWETX AMG GW&K Small Cap Core Fund	0.00%	0.00%	4.04%	0.70%	0.75%	9.16%	2.43%	10.50%	14.38%	5.46%	4.24%	4.10%

Frequently Asked Questions

Can I hold both GWETX and CSMDX in my portfolio?

GWETX and CSMDX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GWETX or CSMDX?

GWETX has higher volatility (5.60%) compared to CSMDX (4.29%). In terms of maximum drawdown, GWETX dropped -67.27% vs CSMDX's -37.28%.

Which has better risk-adjusted returns?

CSMDX currently has the higher Sharpe Ratio (1.18 vs 1.03), 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.