GWMIX vs. ARDEX
GWMIX (AMG GW&K Municipal Bond Fund) and ARDEX (AMG River Road Dividend All Cap Value Fund) are both mutual funds - GWMIX is a Municipal Bonds fund managed by AMG, while ARDEX is a Large Cap Value Equities fund managed by AMG. Over the past 10 years, GWMIX returned 2.04%/yr vs 4.13%/yr for ARDEX. Their -0.09 correlation means they have often moved in opposite directions in the past. GWMIX charges 0.39%/yr vs 0.97%/yr for ARDEX.
Performance
GWMIX vs. ARDEX - Performance Comparison
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Returns By Period
In the year-to-date period, GWMIX achieves a -0.64% return, which is significantly lower than ARDEX's 13.34% return. Over the past 10 years, GWMIX has underperformed ARDEX with an annualized return of 2.04%, while ARDEX has yielded a comparatively higher 4.13% annualized return.
GWMIX
- 1D
- -0.18%
- 1M
- -1.89%
- 6M
- -1.91%
- YTD
- -0.64%
- 1Y
- 4.47%
- 3Y*
- 2.77%
- 5Y*
- 1.17%
- 10Y*
- 2.04%
- ALL TIME*
- 3.39%
ARDEX
- 1D
- -0.54%
- 1M
- 0.00%
- 6M
- 8.37%
- YTD
- 13.34%
- 1Y
- -4.92%
- 3Y*
- 4.58%
- 5Y*
- 0.07%
- 10Y*
- 4.13%
- ALL TIME*
- 6.17%
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 |
GWMIX vs. ARDEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | -0.64% | 5.52% | 0.04% | 6.04% | -7.45% | 4.19% | 4.70% | 7.91% | 0.87% | 4.80% |
ARDEX AMG River Road Dividend All Cap Value Fund | 13.34% | -14.13% | 16.20% | 2.04% | -3.64% | 4.16% | -2.18% | 23.20% | -7.61% | 8.78% |
Correlation
The correlation between GWMIX and ARDEX is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | -0.09 |
The correlation between GWMIX and ARDEX shifts across timeframes, from -0.09 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GWMIX vs. ARDEX — Risk / Return Rank
GWMIX
ARDEX
GWMIX vs. ARDEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Municipal Bond Fund (GWMIX) and AMG River Road Dividend All Cap Value Fund (ARDEX). 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.
| GWMIX | ARDEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.95 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | -0.31 | +1.64 |
| Martin ratioReturn relative to average drawdown | 3.51 | -0.55 | +4.07 |
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Drawdowns
GWMIX vs. ARDEX - Drawdown Comparison
The maximum GWMIX drawdown since its inception was -12.27%, smaller than the maximum ARDEX drawdown of -52.16%. Use the drawdown chart below to compare losses from any high point for GWMIX and ARDEX.
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Drawdown Indicators
| GWMIX | ARDEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -52.16% | +39.89% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -20.51% | +16.62% |
Max Drawdown (3Y)Largest decline over 3 years | -5.18% | -52.16% | +46.98% |
Max Drawdown (5Y)Largest decline over 5 years | -12.27% | -52.16% | +39.89% |
Max Drawdown (10Y)Largest decline over 10 years | -12.27% | -52.16% | +39.89% |
Current DrawdownCurrent decline from peak | -3.21% | -45.57% | +42.36% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -10.74% | +8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 11.47% | -10.00% |
Volatility
GWMIX vs. ARDEX - Volatility Comparison
The current volatility for AMG GW&K Municipal Bond Fund (GWMIX) is 1.04%, while AMG River Road Dividend All Cap Value Fund (ARDEX) has a volatility of 3.04%. This indicates that GWMIX experiences smaller price fluctuations and is considered to be less risky than ARDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWMIX | ARDEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 3.04% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 6.78% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 22.41% | -19.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 41.85% | -37.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 32.38% | -28.38% |
GWMIX vs. ARDEX - Expense Ratio Comparison
GWMIX has a 0.39% expense ratio, which is lower than ARDEX's 0.97% expense ratio.
Dividends
GWMIX vs. ARDEX - Dividend Comparison
GWMIX's dividend yield for the trailing twelve months is around 2.55%, less than ARDEX's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDEX AMG River Road Dividend All Cap Value Fund | 3.79% | 5.85% | 79.78% | 4.42% | 14.36% | 5.37% | 2.12% | 8.71% | 9.10% | 6.83% | 9.31% | 11.69% |
GWMIX AMG GW&K Municipal Bond Fund | 2.55% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
Frequently Asked Questions
GWMIX and ARDEX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARDEX has higher volatility (3.04%) compared to GWMIX (1.04%). In terms of maximum drawdown, GWMIX dropped -12.27% vs ARDEX's -52.16%.
GWMIX currently has the higher Sharpe Ratio (1.79 vs -0.28), 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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