LSVQX vs. RYSEX

Last updated Jul 14, 2026

LSVQX (LSV Small Cap Value Fund) and RYSEX (Royce Special Equity Fund) are both Small Cap Value Equities funds. Over the past 10 years, LSVQX returned 9.02%/yr vs 8.79%/yr for RYSEX. Their correlation of 0.91 suggests significant overlap in exposure. LSVQX charges 0.83%/yr vs 1.20%/yr for RYSEX.

Performance

LSVQX vs. RYSEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Small Cap Value Fund (LSVQX) and Royce Special Equity Fund (RYSEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSVQX achieves a 19.13% return, which is significantly lower than RYSEX's 22.31% return. Both investments have delivered pretty close results over the past 10 years, with LSVQX having a 9.02% annualized return and RYSEX not far behind at 8.79%.

LSVQX

• 1D: 0.37%
• 1M: 1.52%
• 6M: 15.02%
• YTD: 19.13%
• 1Y: 26.01%
• 3Y*: 14.16%
• 5Y*: 9.56%
• 10Y*: 9.02%

RYSEX

• 1D: 0.82%
• 1M: -0.29%
• 6M: 17.61%
• YTD: 22.31%
• 1Y: 29.08%
• 3Y*: 10.96%
• 5Y*: 8.30%
• 10Y*: 8.79%

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

LSVQX vs. RYSEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSVQX LSV Small Cap Value Fund	19.13%	7.31%	4.23%	19.02%	-6.24%	34.54%	-5.98%	20.59%	-17.41%	6.12%
RYSEX Royce Special Equity Fund	22.31%	3.66%	2.93%	12.96%	-6.60%	22.24%	7.43%	12.73%	-9.96%	7.13%

Correlation

The correlation between LSVQX and RYSEX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Mar 1, 2013	0.91

The correlation between LSVQX and RYSEX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

LSVQX vs. RYSEX — Risk / Return Rank

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

LSVQX

LSVQX Risk / Return Rank: 60
LSVQX Sharpe Ratio Rank: 53
LSVQX Sortino Ratio Rank: 60
LSVQX Omega Ratio Rank: 50
LSVQX Calmar Ratio Rank: 80
LSVQX Martin Ratio Rank: 56

RYSEX

RYSEX Risk / Return Rank: 78
RYSEX Sharpe Ratio Rank: 76
RYSEX Sortino Ratio Rank: 81
RYSEX Omega Ratio Rank: 70
RYSEX Calmar Ratio Rank: 88
RYSEX Martin Ratio Rank: 76

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.

LSVQX vs. RYSEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Small Cap Value Fund (LSVQX) and Royce Special Equity Fund (RYSEX). 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.

	LSVQX	RYSEX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.97	-0.33
Sortino ratio: Return per unit of downside risk	2.45	3.04	-0.59
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.05
Calmar ratio: Return relative to maximum drawdown	2.95	3.43	-0.48
Martin ratio: Return relative to average drawdown	8.77	10.89	-2.12

LSVQX vs. RYSEX - Sharpe Ratio Comparison

The current LSVQX Sharpe Ratio is 1.64, which is comparable to the RYSEX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of LSVQX and RYSEX, 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

LSVQX vs. RYSEX - Drawdown Comparison

The maximum LSVQX drawdown since its inception was -54.77%, which is greater than RYSEX's maximum drawdown of -43.25%. Use the drawdown chart below to compare losses from any high point for LSVQX and RYSEX.

Drawdown Indicators

	LSVQX	RYSEX	Difference
Max Drawdown Largest peak-to-trough decline	-54.77%	-43.25%	-11.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.20%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-25.76%	-23.03%	-2.73%
Max Drawdown (5Y) Largest decline over 5 years	-25.76%	-23.03%	-2.73%
Max Drawdown (10Y) Largest decline over 10 years	-54.77%	-32.13%	-22.64%
Current Drawdown Current decline from peak	0.00%	-1.32%	+1.32%
Average Drawdown Average peak-to-trough decline	-7.39%	-6.33%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.61%	+0.25%

Volatility

LSVQX vs. RYSEX - Volatility Comparison

The current volatility for LSV Small Cap Value Fund (LSVQX) is 3.46%, while Royce Special Equity Fund (RYSEX) has a volatility of 3.78%. This indicates that LSVQX experiences smaller price fluctuations and is considered to be less risky than RYSEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSVQX	RYSEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.78%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.40%	9.28%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	14.30%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	16.35%	+3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.22%	17.36%	+6.86%

LSVQX vs. RYSEX - Expense Ratio Comparison

LSVQX has a 0.83% expense ratio, which is lower than RYSEX's 1.20% expense ratio.

Dividends

LSVQX vs. RYSEX - Dividend Comparison

LSVQX's dividend yield for the trailing twelve months is around 6.82%, less than RYSEX's 10.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSVQX LSV Small Cap Value Fund	6.82%	8.13%	1.78%	4.73%	2.02%	1.45%	1.83%	2.04%	7.00%	4.78%	2.35%	3.59%
RYSEX Royce Special Equity Fund	10.10%	12.36%	16.35%	5.32%	12.34%	16.53%	3.70%	11.56%	13.11%	8.24%	7.72%	11.68%

Frequently Asked Questions

Can I hold both LSVQX and RYSEX in my portfolio?

LSVQX and RYSEX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSVQX or RYSEX?

RYSEX has higher volatility (3.78%) compared to LSVQX (3.46%). In terms of maximum drawdown, LSVQX dropped -54.77% vs RYSEX's -43.25%.

Which has better risk-adjusted returns?

RYSEX currently has the higher Sharpe Ratio (1.97 vs 1.64), 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.