GWMIX vs. TMDIX
GWMIX (AMG GW&K Municipal Bond Fund) and TMDIX (AMG TimesSquare Mid Cap Growth Fund) are both mutual funds - GWMIX is a Municipal Bonds fund managed by AMG, while TMDIX is a Mid Cap Growth Equities fund managed by AMG. Over the past 10 years, GWMIX returned 2.04%/yr vs 12.70%/yr for TMDIX. Their -0.07 correlation means they have often moved in opposite directions in the past. GWMIX charges 0.39%/yr vs 0.98%/yr for TMDIX.
Performance
GWMIX vs. TMDIX - 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 TMDIX's 4.53% return. Over the past 10 years, GWMIX has underperformed TMDIX with an annualized return of 2.04%, while TMDIX has yielded a comparatively higher 12.70% 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%
TMDIX
- 1D
- 2.45%
- 1M
- -3.41%
- 6M
- 5.22%
- YTD
- 4.53%
- 1Y
- -6.10%
- 3Y*
- 6.58%
- 5Y*
- 2.93%
- 10Y*
- 12.70%
- ALL TIME*
- 10.91%
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. TMDIX - 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% |
TMDIX AMG TimesSquare Mid Cap Growth Fund | 4.53% | -1.76% | 10.84% | 25.07% | -22.26% | 16.75% | 33.42% | 63.26% | -4.28% | 22.66% |
Correlation
The correlation between GWMIX and TMDIX is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | -0.07 |
The correlation between GWMIX and TMDIX shifts across timeframes, from -0.07 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GWMIX vs. TMDIX — Risk / Return Rank
GWMIX
TMDIX
GWMIX vs. TMDIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Municipal Bond Fund (GWMIX) 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.
| GWMIX | TMDIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.80 | ||
| 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 | -0.61 | +4.13 |
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Drawdowns
GWMIX vs. TMDIX - Drawdown Comparison
The maximum GWMIX drawdown since its inception was -12.27%, smaller than the maximum TMDIX drawdown of -48.73%. Use the drawdown chart below to compare losses from any high point for GWMIX and TMDIX.
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Drawdown Indicators
| GWMIX | TMDIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -48.73% | +36.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -25.45% | +21.56% |
Max Drawdown (3Y)Largest decline over 3 years | -5.18% | -25.45% | +20.27% |
Max Drawdown (5Y)Largest decline over 5 years | -12.27% | -30.53% | +18.26% |
Max Drawdown (10Y)Largest decline over 10 years | -12.27% | -35.44% | +23.17% |
Current DrawdownCurrent decline from peak | -3.21% | -12.48% | +9.27% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -7.19% | +5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 12.95% | -11.48% |
Volatility
GWMIX vs. TMDIX - Volatility Comparison
The current volatility for AMG GW&K Municipal Bond Fund (GWMIX) is 1.04%, while AMG TimesSquare Mid Cap Growth Fund (TMDIX) has a volatility of 4.81%. This indicates that GWMIX 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
| GWMIX | TMDIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 4.81% | -3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 14.06% | -11.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 20.64% | -17.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 20.59% | -16.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 21.11% | -17.11% |
GWMIX vs. TMDIX - Expense Ratio Comparison
GWMIX has a 0.39% expense ratio, which is lower than TMDIX's 0.98% expense ratio.
Dividends
GWMIX vs. TMDIX - Dividend Comparison
GWMIX's dividend yield for the trailing twelve months is around 2.55%, while TMDIX 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 | 2.55% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
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
GWMIX and TMDIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMDIX has higher volatility (4.81%) compared to GWMIX (1.04%). In terms of maximum drawdown, GWMIX dropped -12.27% vs TMDIX's -48.73%.
GWMIX currently has the higher Sharpe Ratio (1.79 vs -0.39), 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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