JESVX vs. RYPNX

Last updated Jun 24, 2026

JESVX (John Hancock Variable Insurance Trust Small Cap Value Trust) and RYPNX (Royce Opportunity Fund) are both Small Cap Value Equities funds. Over the past 5 years, JESVX returned 6.89%/yr vs 9.91%/yr for RYPNX. Their correlation of 0.88 suggests significant overlap in exposure. JESVX charges 1.04%/yr vs 1.21%/yr for RYPNX.

Performance

JESVX vs. RYPNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Variable Insurance Trust Small Cap Value Trust (JESVX) and Royce Opportunity Fund (RYPNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JESVX achieves a 22.68% return, which is significantly lower than RYPNX's 31.15% return.

JESVX

• 1D: 0.33%
• 1M: 6.87%
• YTD: 22.68%
• 6M: 20.62%
• 1Y: 30.64%
• 3Y*: 14.27%
• 5Y*: 6.89%
• 10Y*: —

RYPNX

• 1D: -0.48%
• 1M: 5.48%
• YTD: 31.15%
• 6M: 28.63%
• 1Y: 54.71%
• 3Y*: 21.44%
• 5Y*: 9.91%
• 10Y*: 15.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JESVX vs. RYPNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JESVX John Hancock Variable Insurance Trust Small Cap Value Trust	22.68%	0.13%	5.97%	14.02%	-9.84%	26.18%	-6.96%	26.52%	-12.98%	-3.88%
RYPNX Royce Opportunity Fund	31.15%	11.95%	10.20%	19.72%	-17.19%	30.34%	26.52%	28.24%	-20.10%	20.47%

Correlation

The correlation between JESVX and RYPNX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.88

The correlation between JESVX and RYPNX shifts across timeframes, from 0.68 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JESVX vs. RYPNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JESVX

JESVX Risk / Return Rank: 67
JESVX Sharpe Ratio Rank: 59
JESVX Sortino Ratio Rank: 63
JESVX Omega Ratio Rank: 49
JESVX Calmar Ratio Rank: 87
JESVX Martin Ratio Rank: 75

RYPNX

RYPNX Risk / Return Rank: 82
RYPNX Sharpe Ratio Rank: 85
RYPNX Sortino Ratio Rank: 76
RYPNX Omega Ratio Rank: 66
RYPNX Calmar Ratio Rank: 92
RYPNX Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JESVX vs. RYPNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Variable Insurance Trust Small Cap Value Trust (JESVX) and Royce Opportunity Fund (RYPNX). 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.

	JESVX	RYPNX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.55	-0.47
Sortino ratio: Return per unit of downside risk	3.03	3.36	-0.33
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	4.06	4.68	-0.62
Martin ratio: Return relative to average drawdown	13.25	17.73	-4.48

JESVX vs. RYPNX - Sharpe Ratio Comparison

The current JESVX Sharpe Ratio is 2.09, which is comparable to the RYPNX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of JESVX and RYPNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JESVX vs. RYPNX - Drawdown Comparison

The maximum JESVX drawdown since its inception was -46.09%, smaller than the maximum RYPNX drawdown of -69.31%. Use the drawdown chart below to compare losses from any high point for JESVX and RYPNX.

Drawdown Indicators

	JESVX	RYPNX	Difference
Max Drawdown Largest peak-to-trough decline	-46.09%	-69.31%	+23.22%
Max Drawdown (1Y) Largest decline over 1 year	-10.17%	-12.01%	+1.84%
Max Drawdown (3Y) Largest decline over 3 years	-26.55%	-30.23%	+3.68%
Max Drawdown (5Y) Largest decline over 5 years	-26.55%	-30.77%	+4.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.61%	—
Current Drawdown Current decline from peak	0.00%	-0.48%	+0.48%
Average Drawdown Average peak-to-trough decline	-9.03%	-10.65%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	3.16%	0.00%

Volatility

JESVX vs. RYPNX - Volatility Comparison

The current volatility for John Hancock Variable Insurance Trust Small Cap Value Trust (JESVX) is 6.76%, while Royce Opportunity Fund (RYPNX) has a volatility of 7.28%. This indicates that JESVX experiences smaller price fluctuations and is considered to be less risky than RYPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JESVX	RYPNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	7.28%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	14.75%	15.46%	-0.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.84%	22.04%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.89%	24.34%	-3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.34%	25.39%	-2.05%

JESVX vs. RYPNX - Expense Ratio Comparison

JESVX has a 1.04% expense ratio, which is lower than RYPNX's 1.21% expense ratio.

Dividends

JESVX vs. RYPNX - Dividend Comparison

JESVX's dividend yield for the trailing twelve months is around 9.55%, more than RYPNX's 7.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JESVX John Hancock Variable Insurance Trust Small Cap Value Trust	9.55%	11.72%	6.53%	9.41%	21.62%	1.33%	12.54%	7.49%	16.31%	0.76%	0.00%	0.00%
RYPNX Royce Opportunity Fund	7.34%	9.63%	7.95%	4.52%	5.12%	22.51%	0.00%	1.57%	10.21%	14.91%	6.89%	10.04%

Frequently Asked Questions

Can I hold both JESVX and RYPNX in my portfolio?

JESVX and RYPNX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JESVX or RYPNX?

RYPNX has higher volatility (7.28%) compared to JESVX (6.76%). In terms of maximum drawdown, JESVX dropped -46.09% vs RYPNX's -69.31%.

Which has better risk-adjusted returns?

RYPNX currently has the higher Sharpe Ratio (2.55 vs 2.09), 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.