GWMIX vs. MEQFX
GWMIX (AMG GW&K Municipal Bond Fund) and MEQFX (AMG River Road Large Cap Value Select Fund) are both mutual funds - GWMIX is a Municipal Bonds fund managed by AMG, while MEQFX is a Large Cap Blend Equities fund managed by AMG. Over the past 10 years, GWMIX returned 2.24%/yr vs 10.61%/yr for MEQFX. At a correlation of -0.08, they often move in opposite directions. GWMIX charges 0.39%/yr vs 0.64%/yr for MEQFX.
Performance
GWMIX vs. MEQFX - Performance Comparison
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Returns By Period
In the year-to-date period, GWMIX achieves a 1.00% return, which is significantly higher than MEQFX's -1.43% return. Over the past 10 years, GWMIX has underperformed MEQFX with an annualized return of 2.24%, while MEQFX has yielded a comparatively higher 10.61% annualized return.
GWMIX
- 1D
- -0.09%
- 1M
- 0.17%
- 6M
- -0.03%
- YTD
- 1.00%
- 1Y
- 6.47%
- 3Y*
- 3.37%
- 5Y*
- 1.52%
- 10Y*
- 2.24%
MEQFX
- 1D
- 0.16%
- 1M
- 1.89%
- 6M
- -4.16%
- YTD
- -1.43%
- 1Y
- -8.59%
- 3Y*
- 9.78%
- 5Y*
- 9.54%
- 10Y*
- 10.61%
GWMIX vs. MEQFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | 1.00% | 5.52% | 0.04% | 6.04% | -7.45% | 4.19% | 4.70% | 7.91% | 0.87% | 4.80% |
MEQFX AMG River Road Large Cap Value Select Fund | -1.43% | -2.58% | 24.99% | 19.53% | -9.50% | 43.58% | -4.00% | 16.01% | 8.16% | 15.35% |
Correlation
The correlation between GWMIX and MEQFX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | -0.08 |
The correlation between GWMIX and MEQFX shifts across timeframes, from -0.08 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GWMIX vs. MEQFX — Risk / Return Rank
GWMIX
MEQFX
GWMIX vs. MEQFX - 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 Large Cap Value Select Fund (MEQFX). 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 | MEQFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.92 | ||
| Sortino ratioReturn per unit of downside risk | +3.89 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 0.92 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | -0.50 | +2.18 |
| Martin ratioReturn relative to average drawdown | 4.93 | -0.88 | +5.81 |
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Drawdowns
GWMIX vs. MEQFX - Drawdown Comparison
The maximum GWMIX drawdown since its inception was -12.27%, smaller than the maximum MEQFX drawdown of -55.38%. Use the drawdown chart below to compare losses from any high point for GWMIX and MEQFX.
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Drawdown Indicators
| GWMIX | MEQFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -55.38% | +43.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -17.43% | +13.54% |
Max Drawdown (3Y)Largest decline over 3 years | -5.41% | -17.43% | +12.02% |
Max Drawdown (5Y)Largest decline over 5 years | -12.27% | -19.48% | +7.21% |
Max Drawdown (10Y)Largest decline over 10 years | -12.27% | -28.69% | +16.42% |
Current DrawdownCurrent decline from peak | -1.61% | -13.03% | +11.42% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -12.19% | +10.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 9.97% | -8.65% |
Volatility
GWMIX vs. MEQFX - Volatility Comparison
The current volatility for AMG GW&K Municipal Bond Fund (GWMIX) is 0.48%, while AMG River Road Large Cap Value Select Fund (MEQFX) has a volatility of 4.20%. This indicates that GWMIX experiences smaller price fluctuations and is considered to be less risky than MEQFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWMIX | MEQFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 4.20% | -3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 9.56% | -7.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 17.15% | -14.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 17.55% | -13.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 19.59% | -15.60% |
GWMIX vs. MEQFX - Expense Ratio Comparison
GWMIX has a 0.39% expense ratio, which is lower than MEQFX's 0.64% expense ratio.
Dividends
GWMIX vs. MEQFX - Dividend Comparison
GWMIX's dividend yield for the trailing twelve months is around 2.74%, while MEQFX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | 2.74% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
MEQFX AMG River Road Large Cap Value Select Fund | 0.00% | 0.00% | 4.48% | 0.98% | 2.13% | 27.90% | 0.00% | 9.17% | 3.40% | 30.28% | 5.96% | 11.63% |
Frequently Asked Questions
GWMIX and MEQFX 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.
MEQFX has higher volatility (4.20%) compared to GWMIX (0.48%). In terms of maximum drawdown, GWMIX dropped -12.27% vs MEQFX's -55.38%.
GWMIX currently has the higher Sharpe Ratio (2.40 vs -0.51), 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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