GWGIX vs. TMDIX
GWGIX (AMG GW&K Small/Mid Cap Fund) and TMDIX (AMG TimesSquare Mid Cap Growth Fund) are both Mid Cap Growth Equities funds from AMG. Over the past 10 years, GWGIX returned 11.71%/yr vs 13.50%/yr for TMDIX. Their correlation of 0.87 suggests significant overlap in exposure. GWGIX charges 0.87%/yr vs 0.98%/yr for TMDIX.
Performance
GWGIX vs. TMDIX - Performance Comparison
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Returns By Period
In the year-to-date period, GWGIX achieves a 18.23% return, which is significantly higher than TMDIX's 4.95% return. Over the past 10 years, GWGIX has underperformed TMDIX with an annualized return of 11.71%, while TMDIX has yielded a comparatively higher 13.50% annualized return.
GWGIX
- 1D
- 1.25%
- 1M
- 2.75%
- YTD
- 18.23%
- 6M
- 15.65%
- 1Y
- 26.37%
- 3Y*
- 14.30%
- 5Y*
- 6.21%
- 10Y*
- 11.71%
TMDIX
- 1D
- 0.34%
- 1M
- 3.22%
- YTD
- 4.95%
- 6M
- 2.74%
- 1Y
- -3.40%
- 3Y*
- 8.72%
- 5Y*
- 3.39%
- 10Y*
- 13.50%
GWGIX vs. TMDIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWGIX AMG GW&K Small/Mid Cap Fund | 18.23% | 1.53% | 10.85% | 14.76% | -18.09% | 26.01% | 23.31% | 31.02% | -8.14% | 15.44% |
TMDIX AMG TimesSquare Mid Cap Growth Fund | 4.95% | -1.76% | 10.84% | 25.07% | -22.26% | 16.75% | 33.42% | 63.26% | -4.28% | 22.66% |
Correlation
The correlation between GWGIX and TMDIX is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.87 |
The correlation between GWGIX and TMDIX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
GWGIX vs. TMDIX — Risk / Return Rank
GWGIX
TMDIX
GWGIX vs. TMDIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Small/Mid Cap Fund (GWGIX) and AMG TimesSquare Mid Cap Growth Fund (TMDIX). 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.
| GWGIX | TMDIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.98 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | -0.16 | +2.72 |
| Martin ratioReturn relative to average drawdown | 8.77 | -0.33 | +9.10 |
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Drawdowns
GWGIX vs. TMDIX - Drawdown Comparison
The maximum GWGIX drawdown since its inception was -37.41%, smaller than the maximum TMDIX drawdown of -48.73%. Use the drawdown chart below to compare losses from any high point for GWGIX and TMDIX.
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Drawdown Indicators
| GWGIX | TMDIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.41% | -48.73% | +11.32% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -25.45% | +15.55% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -25.45% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -27.18% | -30.53% | +3.35% |
Max Drawdown (10Y)Largest decline over 10 years | -37.41% | -35.44% | -1.97% |
Current DrawdownCurrent decline from peak | -0.35% | -12.13% | +11.78% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -7.17% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 12.48% | -9.61% |
Volatility
GWGIX vs. TMDIX - Volatility Comparison
The current volatility for AMG GW&K Small/Mid Cap Fund (GWGIX) is 5.76%, while AMG TimesSquare Mid Cap Growth Fund (TMDIX) has a volatility of 6.34%. This indicates that GWGIX experiences smaller price fluctuations and is considered to be less risky than TMDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWGIX | TMDIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 6.34% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 13.26% | 13.65% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.86% | 20.23% | -2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.99% | 20.52% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.24% | 21.11% | -0.87% |
GWGIX vs. TMDIX - Expense Ratio Comparison
GWGIX has a 0.87% expense ratio, which is lower than TMDIX's 0.98% expense ratio.
Dividends
GWGIX vs. TMDIX - Dividend Comparison
Neither GWGIX nor TMDIX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWGIX AMG GW&K Small/Mid Cap Fund | 0.00% | 0.00% | 0.95% | 0.19% | 4.22% | 5.45% | 0.12% | 0.37% | 2.48% | 1.46% | 0.05% | 0.00% |
TMDIX AMG TimesSquare Mid Cap Growth Fund | 0.00% | 0.00% | 8.08% | 3.98% | 3.69% | 29.72% | 18.28% | 31.06% | 16.38% | 14.44% | 5.90% | 7.73% |
Frequently Asked Questions
GWGIX and TMDIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMDIX has higher volatility (6.34%) compared to GWGIX (5.76%). In terms of maximum drawdown, GWGIX dropped -37.41% vs TMDIX's -48.73%.
GWGIX currently has the higher Sharpe Ratio (1.42 vs -0.20), 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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