MMCFX vs. ARDEX
MMCFX (AMG Veritas China Fund) and ARDEX (AMG River Road Dividend All Cap Value Fund) are both mutual funds - MMCFX is a China Equities fund managed by AMG, while ARDEX is a Large Cap Value Equities fund managed by AMG. Over the past 10 years, MMCFX returned 4.04%/yr vs 4.19%/yr for ARDEX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. MMCFX charges 1.14%/yr vs 0.97%/yr for ARDEX.
Performance
MMCFX vs. ARDEX - Performance Comparison
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Returns By Period
In the year-to-date period, MMCFX achieves a -0.70% return, which is significantly lower than ARDEX's 13.13% return. Both investments have delivered pretty close results over the past 10 years, with MMCFX having a 4.04% annualized return and ARDEX not far ahead at 4.19%.
MMCFX
- 1D
- 1.48%
- 1M
- -3.61%
- 6M
- -3.93%
- YTD
- -0.70%
- 1Y
- 10.83%
- 3Y*
- 1.21%
- 5Y*
- -7.55%
- 10Y*
- 4.04%
- ALL TIME*
- 7.47%
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 |
MMCFX vs. ARDEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMCFX AMG Veritas China Fund | -0.70% | 27.88% | -0.59% | -18.35% | -26.33% | -0.49% | 17.79% | 27.49% | -5.22% | 24.07% |
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 MMCFX and ARDEX is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2005 | 0.68 |
Over the past year, the correlation between MMCFX and ARDEX has dropped to 0.18 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
MMCFX vs. ARDEX — Risk / Return Rank
MMCFX
ARDEX
MMCFX vs. ARDEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG Veritas China Fund (MMCFX) 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.
| MMCFX | ARDEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.95 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | -0.29 | +0.73 |
| Martin ratioReturn relative to average drawdown | 0.89 | -0.51 | +1.41 |
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Drawdowns
MMCFX vs. ARDEX - Drawdown Comparison
The maximum MMCFX drawdown since its inception was -70.40%, which is greater than ARDEX's maximum drawdown of -52.16%. Use the drawdown chart below to compare losses from any high point for MMCFX and ARDEX.
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Drawdown Indicators
| MMCFX | ARDEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.40% | -52.16% | -18.24% |
Max Drawdown (1Y)Largest decline over 1 year | -18.42% | -20.51% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -26.79% | -52.16% | +25.37% |
Max Drawdown (5Y)Largest decline over 5 years | -54.07% | -52.16% | -1.91% |
Max Drawdown (10Y)Largest decline over 10 years | -57.48% | -52.16% | -5.32% |
Current DrawdownCurrent decline from peak | -38.92% | -45.66% | +6.74% |
Average DrawdownAverage peak-to-trough decline | -26.72% | -10.74% | -15.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.17% | 11.48% | -2.31% |
Volatility
MMCFX vs. ARDEX - Volatility Comparison
AMG Veritas China Fund (MMCFX) has a higher volatility of 10.36% compared to AMG River Road Dividend All Cap Value Fund (ARDEX) at 3.01%. This indicates that MMCFX'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
| MMCFX | ARDEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.36% | 3.01% | +7.35% |
Volatility (6M)Calculated over the trailing 6-month period | 20.59% | 6.78% | +13.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.47% | 22.40% | +3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.57% | 41.84% | -16.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.05% | 32.38% | -7.33% |
MMCFX vs. ARDEX - Expense Ratio Comparison
MMCFX has a 1.14% expense ratio, which is higher than ARDEX's 0.97% expense ratio.
Dividends
MMCFX vs. ARDEX - Dividend Comparison
MMCFX's dividend yield for the trailing twelve months is around 0.33%, 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% |
MMCFX AMG Veritas China Fund | 0.33% | 0.32% | 1.34% | 0.83% | 0.00% | 114.57% | 4.66% | 9.14% | 25.03% | 12.44% | 0.35% | 12.74% |
Frequently Asked Questions
MMCFX and ARDEX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMCFX has higher volatility (10.36%) compared to ARDEX (3.01%). In terms of maximum drawdown, MMCFX dropped -70.40% vs ARDEX's -52.16%.
MMCFX currently has the higher Sharpe Ratio (0.32 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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