MASKX vs. RYOTX
MASKX (iShares Russell 2000 Small-Cap Index Fund) and RYOTX (Royce Micro Cap Series Fund) are both Small Cap Blend Equities funds. Over the past 10 years, MASKX returned 11.12%/yr vs 13.85%/yr for RYOTX. Their correlation of 0.90 suggests significant overlap in exposure. MASKX charges 0.12%/yr vs 1.20%/yr for RYOTX.
Performance
MASKX vs. RYOTX - Performance Comparison
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Returns By Period
In the year-to-date period, MASKX achieves a 18.62% return, which is significantly lower than RYOTX's 37.74% return. Over the past 10 years, MASKX has underperformed RYOTX with an annualized return of 11.12%, while RYOTX has yielded a comparatively higher 13.85% annualized return.
MASKX
- 1D
- 0.89%
- 1M
- 4.97%
- YTD
- 18.62%
- 6M
- 17.33%
- 1Y
- 41.04%
- 3Y*
- 18.52%
- 5Y*
- 6.53%
- 10Y*
- 11.12%
RYOTX
- 1D
- 1.60%
- 1M
- 9.34%
- YTD
- 37.74%
- 6M
- 38.47%
- 1Y
- 68.90%
- 3Y*
- 26.49%
- 5Y*
- 11.46%
- 10Y*
- 13.85%
MASKX vs. RYOTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MASKX iShares Russell 2000 Small-Cap Index Fund | 18.62% | 12.76% | 11.35% | 16.99% | -20.39% | 14.54% | 19.99% | 25.54% | -11.03% | 14.61% |
RYOTX Royce Micro Cap Series Fund | 37.74% | 13.51% | 13.24% | 19.51% | -22.66% | 30.36% | 24.56% | 21.19% | -9.09% | 5.29% |
Correlation
The correlation between MASKX and RYOTX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 1997 | 0.90 |
The correlation between MASKX and RYOTX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
MASKX vs. RYOTX — Risk / Return Rank
MASKX
RYOTX
MASKX vs. RYOTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Small-Cap Index Fund (MASKX) and Royce Micro Cap Series Fund (RYOTX). 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.
| MASKX | RYOTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.49 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.95 | 6.04 | -2.09 |
| Martin ratioReturn relative to average drawdown | 14.03 | 22.08 | -8.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MASKX | RYOTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | 3.20 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.49 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.60 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.62 | -0.26 |
Drawdowns
MASKX vs. RYOTX - Drawdown Comparison
The maximum MASKX drawdown since its inception was -59.06%, roughly equal to the maximum RYOTX drawdown of -56.86%. Use the drawdown chart below to compare losses from any high point for MASKX and RYOTX.
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Drawdown Indicators
| MASKX | RYOTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.06% | -56.86% | -2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -12.10% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -27.53% | -29.83% | +2.30% |
Max Drawdown (5Y)Largest decline over 5 years | -31.98% | -35.84% | +3.86% |
Max Drawdown (10Y)Largest decline over 10 years | -41.68% | -44.87% | +3.19% |
Current DrawdownCurrent decline from peak | -0.13% | 0.00% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -11.63% | -9.43% | -2.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 3.31% | -0.22% |
Volatility
MASKX vs. RYOTX - Volatility Comparison
The current volatility for iShares Russell 2000 Small-Cap Index Fund (MASKX) is 5.60%, while Royce Micro Cap Series Fund (RYOTX) has a volatility of 6.09%. This indicates that MASKX experiences smaller price fluctuations and is considered to be less risky than RYOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MASKX | RYOTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 6.09% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.57% | 16.20% | -2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.10% | 22.83% | -3.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.16% | 23.44% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.70% | 23.14% | +0.56% |
MASKX vs. RYOTX - Expense Ratio Comparison
MASKX has a 0.12% expense ratio, which is lower than RYOTX's 1.20% expense ratio.
Dividends
MASKX vs. RYOTX - Dividend Comparison
MASKX's dividend yield for the trailing twelve months is around 2.64%, less than RYOTX's 10.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MASKX iShares Russell 2000 Small-Cap Index Fund | 2.64% | 3.13% | 4.81% | 2.92% | 1.70% | 7.64% | 1.42% | 3.43% | 4.26% | 3.15% | 4.60% | 3.63% |
RYOTX Royce Micro Cap Series Fund | 10.85% | 14.94% | 12.20% | 6.97% | 5.10% | 23.10% | 7.40% | 2.72% | 13.95% | 7.76% | 11.41% | 12.99% |
Frequently Asked Questions
With a correlation of 0.94, MASKX and RYOTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
RYOTX has higher volatility (6.09%) compared to MASKX (5.60%). In terms of maximum drawdown, MASKX dropped -59.06% vs RYOTX's -56.86%.
RYOTX currently has the higher Sharpe Ratio (3.20 vs 2.28), 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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