GWMEX vs. TMDIX
GWMEX (AMG GW&K Municipal Enhanced Yield Fund) and TMDIX (AMG TimesSquare Mid Cap Growth Fund) are both mutual funds - GWMEX is a High Yield Muni fund managed by AMG, while TMDIX is a Mid Cap Growth Equities fund managed by AMG. Over the past 10 years, GWMEX returned 3.13%/yr vs 12.89%/yr for TMDIX. Their -0.06 correlation means they have often moved in opposite directions in the past. GWMEX charges 0.64%/yr vs 0.98%/yr for TMDIX.
Performance
GWMEX vs. TMDIX - Performance Comparison
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Returns By Period
In the year-to-date period, GWMEX achieves a 0.65% return, which is significantly lower than TMDIX's 5.18% return. Over the past 10 years, GWMEX has underperformed TMDIX with an annualized return of 3.13%, while TMDIX has yielded a comparatively higher 12.89% annualized return.
GWMEX
- 1D
- -0.12%
- 1M
- -2.17%
- 6M
- 0.33%
- YTD
- 0.65%
- 1Y
- 6.92%
- 3Y*
- 3.37%
- 5Y*
- 1.16%
- 10Y*
- 3.13%
- ALL TIME*
- 3.64%
TMDIX
- 1D
- 0.63%
- 1M
- -2.81%
- 6M
- 6.26%
- YTD
- 5.18%
- 1Y
- -5.51%
- 3Y*
- 6.82%
- 5Y*
- 3.05%
- 10Y*
- 12.89%
- ALL TIME*
- 10.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GWMEX vs. TMDIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWMEX AMG GW&K Municipal Enhanced Yield Fund | 0.65% | 2.50% | 2.61% | 10.89% | -17.86% | 15.05% | 6.32% | 12.51% | -0.06% | 9.79% |
TMDIX AMG TimesSquare Mid Cap Growth Fund | 5.18% | -1.76% | 10.84% | 25.07% | -22.26% | 16.75% | 33.42% | 63.26% | -4.28% | 22.66% |
Correlation
The correlation between GWMEX and TMDIX is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | -0.06 |
The correlation between GWMEX and TMDIX shifts across timeframes, from -0.06 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GWMEX vs. TMDIX — Risk / Return Rank
GWMEX
TMDIX
GWMEX vs. TMDIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Municipal Enhanced Yield Fund (GWMEX) 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.
| GWMEX | TMDIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.29 | ||
| Sortino ratioReturn per unit of downside risk | +3.20 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.96 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | -0.25 | +2.22 |
| Martin ratioReturn relative to average drawdown | 7.45 | -0.49 | +7.94 |
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Drawdowns
GWMEX vs. TMDIX - Drawdown Comparison
The maximum GWMEX drawdown since its inception was -36.30%, smaller than the maximum TMDIX drawdown of -48.73%. Use the drawdown chart below to compare losses from any high point for GWMEX and TMDIX.
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Drawdown Indicators
| GWMEX | TMDIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.30% | -48.73% | +12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -25.45% | +21.50% |
Max Drawdown (3Y)Largest decline over 3 years | -8.85% | -25.45% | +16.60% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | -30.53% | +6.47% |
Max Drawdown (10Y)Largest decline over 10 years | -24.06% | -35.44% | +11.38% |
Current DrawdownCurrent decline from peak | -3.67% | -11.93% | +8.26% |
Average DrawdownAverage peak-to-trough decline | -5.67% | -7.19% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 12.97% | -11.93% |
Volatility
GWMEX vs. TMDIX - Volatility Comparison
The current volatility for AMG GW&K Municipal Enhanced Yield Fund (GWMEX) is 1.19%, while AMG TimesSquare Mid Cap Growth Fund (TMDIX) has a volatility of 4.88%. This indicates that GWMEX 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
| GWMEX | TMDIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 4.88% | -3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 13.97% | -10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 20.65% | -16.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.82% | 20.58% | -12.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.75% | 21.11% | -14.36% |
GWMEX vs. TMDIX - Expense Ratio Comparison
GWMEX has a 0.64% expense ratio, which is lower than TMDIX's 0.98% expense ratio.
Dividends
GWMEX vs. TMDIX - Dividend Comparison
GWMEX's dividend yield for the trailing twelve months is around 3.18%, while TMDIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWMEX AMG GW&K Municipal Enhanced Yield Fund | 3.18% | 3.67% | 3.38% | 3.10% | 3.33% | 13.26% | 3.63% | 4.59% | 5.82% | 2.97% | 7.96% | 4.77% |
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
GWMEX and TMDIX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMDIX has higher volatility (4.88%) compared to GWMEX (1.19%). In terms of maximum drawdown, GWMEX dropped -36.30% vs TMDIX's -48.73%.
GWMEX currently has the higher Sharpe Ratio (1.98 vs -0.31), 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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