MBDFX vs. ARSVX

Last updated Jul 14, 2026

MBDFX (AMG GW&K Core Bond ESG Fund) and ARSVX (AMG River Road Small Cap Value Fund) are both mutual funds - MBDFX is a Intermediate Core Bond fund managed by AMG, while ARSVX is a Small Cap Value Equities fund managed by AMG. Over the past 10 years, MBDFX returned 1.10%/yr vs 9.54%/yr for ARSVX. At a correlation of -0.11, they often move in opposite directions. MBDFX charges 0.56%/yr vs 1.35%/yr for ARSVX.

Performance

MBDFX vs. ARSVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG GW&K Core Bond ESG Fund (MBDFX) and AMG River Road Small Cap Value Fund (ARSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBDFX achieves a -0.29% return, which is significantly lower than ARSVX's 7.32% return. Over the past 10 years, MBDFX has underperformed ARSVX with an annualized return of 1.10%, while ARSVX has yielded a comparatively higher 9.54% annualized return.

MBDFX

• 1D: 0.00%
• 1M: -0.24%
• 6M: -0.62%
• YTD: -0.29%
• 1Y: 3.63%
• 3Y*: 4.10%
• 5Y*: -0.75%
• 10Y*: 1.10%

ARSVX

• 1D: 1.12%
• 1M: 3.57%
• 6M: 3.22%
• YTD: 7.32%
• 1Y: -2.84%
• 3Y*: 7.22%
• 5Y*: 5.10%
• 10Y*: 9.54%

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

MBDFX vs. ARSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MBDFX AMG GW&K Core Bond ESG Fund	-0.29%	7.29%	1.24%	5.73%	-13.85%	-3.34%	7.33%	9.70%	-1.11%	3.88%
ARSVX AMG River Road Small Cap Value Fund	7.32%	-7.36%	14.05%	14.86%	-6.49%	21.14%	1.84%	38.29%	-6.96%	11.73%

Correlation

The correlation between MBDFX and ARSVX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jun 29, 2005	-0.11

The correlation between MBDFX and ARSVX shifts across timeframes, from -0.11 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MBDFX vs. ARSVX — Risk / Return Rank

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

MBDFX

MBDFX Risk / Return Rank: 15
MBDFX Sharpe Ratio Rank: 16
MBDFX Sortino Ratio Rank: 15
MBDFX Omega Ratio Rank: 15
MBDFX Calmar Ratio Rank: 15
MBDFX Martin Ratio Rank: 13

ARSVX

ARSVX Risk / Return Rank: 2
ARSVX Sharpe Ratio Rank: 2
ARSVX Sortino Ratio Rank: 3
ARSVX Omega Ratio Rank: 2
ARSVX Calmar Ratio Rank: 2
ARSVX Martin Ratio Rank: 3

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.

MBDFX vs. ARSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Core Bond ESG Fund (MBDFX) and AMG River Road Small Cap Value Fund (ARSVX). 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.

	MBDFX	ARSVX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	-0.17	+1.00
Sortino ratio: Return per unit of downside risk	1.21	-0.11	+1.32
Omega ratio: Gain probability vs. loss probability	1.15	0.98	+0.16
Calmar ratio: Return relative to maximum drawdown	0.98	-0.17	+1.16
Martin ratio: Return relative to average drawdown	2.55	-0.34	+2.89

MBDFX vs. ARSVX - Sharpe Ratio Comparison

The current MBDFX Sharpe Ratio is 0.83, which is higher than the ARSVX Sharpe Ratio of -0.17. The chart below compares the historical Sharpe Ratios of MBDFX and ARSVX, 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

MBDFX vs. ARSVX - Drawdown Comparison

The maximum MBDFX drawdown since its inception was -20.66%, smaller than the maximum ARSVX drawdown of -54.85%. Use the drawdown chart below to compare losses from any high point for MBDFX and ARSVX.

Drawdown Indicators

	MBDFX	ARSVX	Difference
Max Drawdown Largest peak-to-trough decline	-20.66%	-54.85%	+34.19%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-16.62%	+13.37%
Max Drawdown (3Y) Largest decline over 3 years	-6.99%	-19.21%	+12.22%
Max Drawdown (5Y) Largest decline over 5 years	-20.54%	-19.21%	-1.33%
Max Drawdown (10Y) Largest decline over 10 years	-20.66%	-40.52%	+19.86%
Current Drawdown Current decline from peak	-4.74%	-6.58%	+1.84%
Average Drawdown Average peak-to-trough decline	-3.96%	-8.68%	+4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	8.49%	-7.24%

Volatility

MBDFX vs. ARSVX - Volatility Comparison

The current volatility for AMG GW&K Core Bond ESG Fund (MBDFX) is 1.20%, while AMG River Road Small Cap Value Fund (ARSVX) has a volatility of 3.47%. This indicates that MBDFX experiences smaller price fluctuations and is considered to be less risky than ARSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBDFX	ARSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	3.47%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	9.31%	-6.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.84%	17.06%	-13.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.16%	17.84%	-11.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.06%	19.28%	-14.22%

MBDFX vs. ARSVX - Expense Ratio Comparison

MBDFX has a 0.56% expense ratio, which is lower than ARSVX's 1.35% expense ratio.

Dividends

MBDFX vs. ARSVX - Dividend Comparison

MBDFX's dividend yield for the trailing twelve months is around 3.51%, while ARSVX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARSVX AMG River Road Small Cap Value Fund	0.00%	0.00%	8.50%	4.78%	3.87%	7.75%	0.00%	12.10%	13.01%	14.96%	4.96%	6.51%
MBDFX AMG GW&K Core Bond ESG Fund	3.51%	3.66%	3.50%	2.92%	2.16%	2.35%	1.84%	2.40%	2.30%	2.10%	2.06%	4.17%

Frequently Asked Questions

Can I hold both MBDFX and ARSVX in my portfolio?

MBDFX and ARSVX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBDFX or ARSVX?

ARSVX has higher volatility (3.47%) compared to MBDFX (1.20%). In terms of maximum drawdown, MBDFX dropped -20.66% vs ARSVX's -54.85%.

Which has better risk-adjusted returns?

MBDFX currently has the higher Sharpe Ratio (0.83 vs -0.17), 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.