GWMIX vs. DMREX
Compare and contrast key facts about AMG GW&K Municipal Bond Fund (GWMIX) and DFA Municipal Real Return Portfolio (DMREX).
GWMIX is managed by AMG. It was launched on Jun 29, 2009. DMREX is managed by Dimensional. It was launched on Nov 3, 2014.
Performance
GWMIX vs. DMREX - Performance Comparison
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GWMIX vs. DMREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | -0.90% | 5.52% | 0.04% | 6.04% | -7.45% | 4.19% | 4.70% | 7.91% | 0.87% | 4.80% |
DMREX DFA Municipal Real Return Portfolio | 1.10% | 2.77% | 3.10% | 2.56% | -1.42% | 6.75% | 4.11% | 6.64% | -0.51% | 2.57% |
Returns By Period
In the year-to-date period, GWMIX achieves a -0.90% return, which is significantly lower than DMREX's 1.10% return. Over the past 10 years, GWMIX has underperformed DMREX with an annualized return of 2.23%, while DMREX has yielded a comparatively higher 2.77% annualized return.
GWMIX
- 1D
- 0.26%
- 1M
- -3.14%
- YTD
- -0.90%
- 6M
- 1.14%
- 1Y
- 4.50%
- 3Y*
- 2.56%
- 5Y*
- 1.51%
- 10Y*
- 2.23%
DMREX
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.10%
- 6M
- 1.08%
- 1Y
- 2.48%
- 3Y*
- 2.54%
- 5Y*
- 2.66%
- 10Y*
- 2.77%
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GWMIX vs. DMREX - Expense Ratio Comparison
GWMIX has a 0.39% expense ratio, which is higher than DMREX's 0.24% expense ratio.
Return for Risk
GWMIX vs. DMREX — Risk / Return Rank
GWMIX
DMREX
GWMIX vs. DMREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Municipal Bond Fund (GWMIX) and DFA Municipal Real Return Portfolio (DMREX). 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.
| GWMIX | DMREX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.13 | 2.23 | -1.11 |
Sortino ratioReturn per unit of downside risk | 1.45 | 3.23 | -1.78 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.60 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | 1.28 | 2.90 | -1.63 |
Martin ratioReturn relative to average drawdown | 4.32 | 9.35 | -5.03 |
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
| GWMIX | DMREX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 2.23 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 1.09 | -0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.88 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.86 | +0.12 |
Correlation
The correlation between GWMIX and DMREX is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GWMIX vs. DMREX - Dividend Comparison
GWMIX's dividend yield for the trailing twelve months is around 2.71%, less than DMREX's 3.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | 2.71% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
DMREX DFA Municipal Real Return Portfolio | 3.30% | 2.95% | 3.55% | 1.96% | 1.16% | 0.98% | 1.44% | 2.26% | 1.54% | 1.32% | 1.15% | 1.09% |
Drawdowns
GWMIX vs. DMREX - Drawdown Comparison
The maximum GWMIX drawdown since its inception was -12.27%, smaller than the maximum DMREX drawdown of -13.22%. Use the drawdown chart below to compare losses from any high point for GWMIX and DMREX.
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Drawdown Indicators
| GWMIX | DMREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -13.22% | +0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -4.41% | -0.92% | -3.49% |
Max Drawdown (5Y)Largest decline over 5 years | -12.27% | -5.33% | -6.94% |
Max Drawdown (10Y)Largest decline over 10 years | -12.27% | -13.22% | +0.95% |
Current DrawdownCurrent decline from peak | -3.46% | -0.32% | -3.14% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -0.89% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.29% | +1.01% |
Volatility
GWMIX vs. DMREX - Volatility Comparison
AMG GW&K Municipal Bond Fund (GWMIX) has a higher volatility of 1.38% compared to DFA Municipal Real Return Portfolio (DMREX) at 0.48%. This indicates that GWMIX's price experiences larger fluctuations and is considered to be riskier than DMREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWMIX | DMREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 0.48% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 0.71% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.45% | 1.17% | +3.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.09% | 2.47% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.98% | 3.14% | +0.84% |