HSPGX vs. RYVPX
HSPGX (Emerald Growth Fund) and RYVPX (Royce Smaller-Companies Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, HSPGX returned 15.38%/yr vs 11.95%/yr for RYVPX. Their correlation of 0.91 means they have usually moved in the same direction. HSPGX charges 1.03%/yr vs 1.49%/yr for RYVPX.
Performance
HSPGX vs. RYVPX - Performance Comparison
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Returns By Period
In the year-to-date period, HSPGX achieves a 23.61% return, which is significantly higher than RYVPX's 18.61% return. Over the past 10 years, HSPGX has outperformed RYVPX with an annualized return of 15.38%, while RYVPX has yielded a comparatively lower 11.95% annualized return.
HSPGX
- 1D
- 3.23%
- 1M
- -7.25%
- 6M
- 17.08%
- YTD
- 23.61%
- 1Y
- 51.73%
- 3Y*
- 27.70%
- 5Y*
- 13.07%
- 10Y*
- 15.38%
- ALL TIME*
- 10.95%
RYVPX
- 1D
- 2.21%
- 1M
- -3.75%
- 6M
- 16.52%
- YTD
- 18.61%
- 1Y
- 33.19%
- 3Y*
- 18.93%
- 5Y*
- 5.18%
- 10Y*
- 11.95%
- ALL TIME*
- 11.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
HSPGX Emerald Growth Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
HSPGX vs. RYVPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSPGX Emerald Growth Fund | 23.61% | 31.62% | 28.04% | 18.66% | -24.65% | 3.59% | 38.49% | 28.33% | -12.16% | 27.72% |
RYVPX Royce Smaller-Companies Growth Fund | 18.61% | 19.53% | 21.81% | 16.97% | -32.45% | 6.61% | 49.45% | 23.68% | -10.81% | 17.71% |
Correlation
The correlation between HSPGX and RYVPX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2001 | 0.91 |
The correlation between HSPGX and RYVPX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
HSPGX vs. RYVPX — Risk / Return Rank
HSPGX
RYVPX
HSPGX vs. RYVPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Emerald Growth Fund (HSPGX) and Royce Smaller-Companies Growth Fund (RYVPX). 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.
| HSPGX | RYVPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 2.04 | +1.40 |
| Martin ratioReturn relative to average drawdown | 12.12 | 6.53 | +5.59 |
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Drawdowns
HSPGX vs. RYVPX - Drawdown Comparison
The maximum HSPGX drawdown since its inception was -60.28%, roughly equal to the maximum RYVPX drawdown of -59.03%. Use the drawdown chart below to compare losses from any high point for HSPGX and RYVPX.
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Drawdown Indicators
| HSPGX | RYVPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.28% | -59.03% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -15.22% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -28.63% | -25.76% | -2.87% |
Max Drawdown (5Y)Largest decline over 5 years | -38.65% | -48.19% | +9.54% |
Max Drawdown (10Y)Largest decline over 10 years | -41.48% | -48.19% | +6.71% |
Current DrawdownCurrent decline from peak | -10.45% | -5.71% | -4.74% |
Average DrawdownAverage peak-to-trough decline | -18.94% | -13.10% | -5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 4.75% | -0.68% |
Volatility
HSPGX vs. RYVPX - Volatility Comparison
Emerald Growth Fund (HSPGX) has a higher volatility of 8.22% compared to Royce Smaller-Companies Growth Fund (RYVPX) at 6.33%. This indicates that HSPGX's price experiences larger fluctuations and is considered to be riskier than RYVPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSPGX | RYVPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 6.33% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 21.56% | 16.62% | +4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.62% | 21.54% | +6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.90% | 26.42% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.30% | 25.00% | +0.30% |
HSPGX vs. RYVPX - Expense Ratio Comparison
HSPGX has a 1.03% expense ratio, which is lower than RYVPX's 1.49% expense ratio.
Dividends
HSPGX vs. RYVPX - Dividend Comparison
HSPGX's dividend yield for the trailing twelve months is around 10.31%, less than RYVPX's 14.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSPGX Emerald Growth Fund | 10.31% | 12.74% | 21.85% | 6.43% | 8.77% | 19.11% | 8.48% | 1.45% | 11.86% | 0.00% | 0.00% | 0.00% |
RYVPX Royce Smaller-Companies Growth Fund | 14.15% | 16.79% | 2.92% | 0.00% | 4.34% | 34.97% | 10.32% | 3.47% | 45.66% | 20.89% | 11.40% | 24.57% |
Frequently Asked Questions
HSPGX and RYVPX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSPGX has higher volatility (8.22%) compared to RYVPX (6.33%). In terms of maximum drawdown, HSPGX dropped -60.28% vs RYVPX's -59.03%.
HSPGX currently has the higher Sharpe Ratio (1.79 vs 1.44), 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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