MGSEX vs. ARDEX
MGSEX (AMG Veritas Asia Pacific Fund) and ARDEX (AMG River Road Dividend All Cap Value Fund) are both mutual funds - MGSEX is a Asia Pacific Equities fund managed by AMG, while ARDEX is a Large Cap Value Equities fund managed by AMG. Over the past 10 years, MGSEX returned 15.16%/yr vs 4.19%/yr for ARDEX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. MGSEX charges 1.18%/yr vs 0.97%/yr for ARDEX.
Performance
MGSEX vs. ARDEX - Performance Comparison
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Returns By Period
In the year-to-date period, MGSEX achieves a 24.78% return, which is significantly higher than ARDEX's 13.13% return. Over the past 10 years, MGSEX has outperformed ARDEX with an annualized return of 15.16%, while ARDEX has yielded a comparatively lower 4.19% annualized return.
MGSEX
- 1D
- 2.49%
- 1M
- -9.54%
- 6M
- 13.39%
- YTD
- 24.78%
- 1Y
- 48.70%
- 3Y*
- 21.18%
- 5Y*
- 4.64%
- 10Y*
- 15.16%
- ALL TIME*
- 10.68%
ARDEX
- 1D
- -0.18%
- 1M
- -0.18%
- 6M
- 7.77%
- YTD
- 13.13%
- 1Y
- -5.09%
- 3Y*
- 4.70%
- 5Y*
- 0.03%
- 10Y*
- 4.19%
- ALL TIME*
- 6.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MGSEX vs. ARDEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGSEX AMG Veritas Asia Pacific Fund | 24.78% | 41.56% | 7.23% | -4.82% | -27.91% | 0.83% | 38.74% | 80.58% | -3.77% | 20.26% |
ARDEX AMG River Road Dividend All Cap Value Fund | 13.13% | -14.13% | 16.20% | 2.04% | -3.64% | 4.16% | -2.18% | 23.20% | -7.61% | 8.78% |
Correlation
The correlation between MGSEX and ARDEX is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2005 | 0.73 |
Over the past year, the correlation between MGSEX and ARDEX has dropped to 0.19 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.
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Return for Risk
MGSEX vs. ARDEX — Risk / Return Rank
MGSEX
ARDEX
MGSEX vs. ARDEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG Veritas Asia Pacific Fund (MGSEX) and AMG River Road Dividend All Cap Value Fund (ARDEX). 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.
| MGSEX | ARDEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.95 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | -0.29 | +2.11 |
| Martin ratioReturn relative to average drawdown | 6.71 | -0.51 | +7.22 |
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Drawdowns
MGSEX vs. ARDEX - Drawdown Comparison
The maximum MGSEX drawdown since its inception was -62.06%, which is greater than ARDEX's maximum drawdown of -52.16%. Use the drawdown chart below to compare losses from any high point for MGSEX and ARDEX.
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Drawdown Indicators
| MGSEX | ARDEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.06% | -52.16% | -9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -25.18% | -20.51% | -4.67% |
Max Drawdown (3Y)Largest decline over 3 years | -25.18% | -52.16% | +26.98% |
Max Drawdown (5Y)Largest decline over 5 years | -42.34% | -52.16% | +9.82% |
Max Drawdown (10Y)Largest decline over 10 years | -45.32% | -52.16% | +6.84% |
Current DrawdownCurrent decline from peak | -19.66% | -45.66% | +26.00% |
Average DrawdownAverage peak-to-trough decline | -13.87% | -10.74% | -3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.82% | 11.48% | -4.66% |
Volatility
MGSEX vs. ARDEX - Volatility Comparison
AMG Veritas Asia Pacific Fund (MGSEX) has a higher volatility of 12.88% compared to AMG River Road Dividend All Cap Value Fund (ARDEX) at 3.01%. This indicates that MGSEX's price experiences larger fluctuations and is considered to be riskier than ARDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGSEX | ARDEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.88% | 3.01% | +9.87% |
Volatility (6M)Calculated over the trailing 6-month period | 29.09% | 6.78% | +22.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.00% | 22.40% | +9.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.83% | 41.84% | -20.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.72% | 32.38% | -5.66% |
MGSEX vs. ARDEX - Expense Ratio Comparison
MGSEX has a 1.18% expense ratio, which is higher than ARDEX's 0.97% expense ratio.
Dividends
MGSEX vs. ARDEX - Dividend Comparison
MGSEX's dividend yield for the trailing twelve months is around 0.11%, less than ARDEX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDEX AMG River Road Dividend All Cap Value Fund | 3.80% | 5.85% | 79.78% | 4.42% | 14.36% | 5.37% | 2.12% | 8.71% | 9.10% | 6.83% | 9.31% | 11.69% |
MGSEX AMG Veritas Asia Pacific Fund | 0.11% | 0.14% | 0.47% | 0.11% | 0.00% | 83.77% | 4.35% | 59.30% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MGSEX and ARDEX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGSEX has higher volatility (12.88%) compared to ARDEX (3.01%). In terms of maximum drawdown, MGSEX dropped -62.06% vs ARDEX's -52.16%.
MGSEX currently has the higher Sharpe Ratio (1.43 vs -0.27), 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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