MASPX vs. CRMAX

Last updated Jun 4, 2026

MASPX (BlackRock Advantage SMID Cap Fund, Inc.) and CRMAX (CRM Small/Mid Cap Value Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, MASPX returned 12.31%/yr vs 11.15%/yr for CRMAX. Their correlation of 0.92 suggests significant overlap in exposure. MASPX charges 0.48%/yr vs 1.19%/yr for CRMAX.

Performance

MASPX vs. CRMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Advantage SMID Cap Fund, Inc. (MASPX) and CRM Small/Mid Cap Value Fund (CRMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MASPX achieves a 21.36% return, which is significantly higher than CRMAX's 18.80% return. Over the past 10 years, MASPX has outperformed CRMAX with an annualized return of 12.31%, while CRMAX has yielded a comparatively lower 11.15% annualized return.

MASPX

• 1D: 1.15%
• 1M: 4.84%
• YTD: 21.36%
• 6M: 21.56%
• 1Y: 38.34%
• 3Y*: 20.38%
• 5Y*: 9.46%
• 10Y*: 12.31%

CRMAX

• 1D: 2.92%
• 1M: 9.96%
• YTD: 18.80%
• 6M: 18.25%
• 1Y: 37.66%
• 3Y*: 16.64%
• 5Y*: 7.27%
• 10Y*: 11.15%

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

MASPX vs. CRMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MASPX BlackRock Advantage SMID Cap Fund, Inc.	21.36%	11.36%	12.11%	18.89%	-15.73%	13.56%	19.79%	28.86%	-6.52%	8.80%
CRMAX CRM Small/Mid Cap Value Fund	18.80%	3.89%	16.52%	8.77%	-10.82%	26.46%	13.02%	25.69%	-7.84%	13.97%

Correlation

The correlation between MASPX and CRMAX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 7, 2004	0.92

The correlation between MASPX and CRMAX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

MASPX vs. CRMAX — Risk / Return Rank

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

MASPX

MASPX Risk / Return Rank: 71
MASPX Sharpe Ratio Rank: 63
MASPX Sortino Ratio Rank: 58
MASPX Omega Ratio Rank: 52
MASPX Calmar Ratio Rank: 91
MASPX Martin Ratio Rank: 89

CRMAX

CRMAX Risk / Return Rank: 51
CRMAX Sharpe Ratio Rank: 47
CRMAX Sortino Ratio Rank: 48
CRMAX Omega Ratio Rank: 41
CRMAX Calmar Ratio Rank: 65
CRMAX Martin Ratio Rank: 53

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.

MASPX vs. CRMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Advantage SMID Cap Fund, Inc. (MASPX) and CRM Small/Mid Cap Value Fund (CRMAX). 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.

	MASPX	CRMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.02	+0.32
Sortino ratio: Return per unit of downside risk	3.21	2.92	+0.28
Omega ratio: Gain probability vs. loss probability	1.40	1.35	+0.05
Calmar ratio: Return relative to maximum drawdown	4.80	3.09	+1.71
Martin ratio: Return relative to average drawdown	17.83	10.83	+7.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MASPX vs. CRMAX - Sharpe Ratio Comparison

The current MASPX Sharpe Ratio is 2.35, which is comparable to the CRMAX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of MASPX and CRMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MASPX	CRMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.02	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.36	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.54	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.48	+0.14

Drawdowns

MASPX vs. CRMAX - Drawdown Comparison

The maximum MASPX drawdown since its inception was -63.74%, which is greater than CRMAX's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for MASPX and CRMAX.

Drawdown Indicators

	MASPX	CRMAX	Difference
Max Drawdown Largest peak-to-trough decline	-63.74%	-49.36%	-14.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.38%	-12.79%	+4.41%
Max Drawdown (3Y) Largest decline over 3 years	-25.41%	-27.73%	+2.32%
Max Drawdown (5Y) Largest decline over 5 years	-26.87%	-27.73%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-34.82%	-41.56%	+6.74%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.86%	-7.94%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	3.64%	-1.39%

Volatility

MASPX vs. CRMAX - Volatility Comparison

The current volatility for BlackRock Advantage SMID Cap Fund, Inc. (MASPX) is 5.03%, while CRM Small/Mid Cap Value Fund (CRMAX) has a volatility of 6.77%. This indicates that MASPX experiences smaller price fluctuations and is considered to be less risky than CRMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MASPX	CRMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	6.77%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	14.55%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	17.13%	19.55%	-2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.16%	20.09%	+1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.94%	20.74%	+0.20%

MASPX vs. CRMAX - Expense Ratio Comparison

MASPX has a 0.48% expense ratio, which is lower than CRMAX's 1.19% expense ratio.

Dividends

MASPX vs. CRMAX - Dividend Comparison

MASPX's dividend yield for the trailing twelve months is around 4.20%, less than CRMAX's 4.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRMAX CRM Small/Mid Cap Value Fund	4.40%	5.23%	15.07%	0.64%	6.41%	35.31%	5.86%	2.68%	18.13%	29.30%	2.13%	12.11%
MASPX BlackRock Advantage SMID Cap Fund, Inc.	4.20%	5.09%	1.41%	0.95%	2.04%	40.63%	4.79%	2.73%	27.75%	16.25%	3.40%	3.26%

Frequently Asked Questions

Can I hold both MASPX and CRMAX in my portfolio?

With a correlation of 0.91, MASPX and CRMAX 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.

Which is riskier, MASPX or CRMAX?

CRMAX has higher volatility (6.77%) compared to MASPX (5.03%). In terms of maximum drawdown, MASPX dropped -63.74% vs CRMAX's -49.36%.

Which has better risk-adjusted returns?

MASPX currently has the higher Sharpe Ratio (2.35 vs 2.02), 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.