NCTWX vs. RIPIX
NCTWX (Nicholas II Fund) and RIPIX (Royce International Premier Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, NCTWX returned 2.70%/yr vs -4.45%/yr for RIPIX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. NCTWX charges 0.59%/yr vs 1.04%/yr for RIPIX.
Performance
NCTWX vs. RIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, NCTWX achieves a 5.91% return, which is significantly higher than RIPIX's 1.92% return.
NCTWX
- 1D
- -0.42%
- 1M
- 2.38%
- 6M
- 4.02%
- YTD
- 5.91%
- 1Y
- 3.38%
- 3Y*
- 5.49%
- 5Y*
- 2.70%
- 10Y*
- 9.76%
- ALL TIME*
- 9.92%
RIPIX
- 1D
- 2.16%
- 1M
- -0.16%
- 6M
- 1.27%
- YTD
- 1.92%
- 1Y
- -2.65%
- 3Y*
- 2.08%
- 5Y*
- -4.45%
- 10Y*
- —
- ALL TIME*
- 2.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
NCTWX Nicholas II Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
NCTWX vs. RIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NCTWX Nicholas II Fund | 5.91% | -1.27% | 6.74% | 19.89% | -18.03% | 21.58% | 15.73% | 34.90% | -7.61% |
RIPIX Royce International Premier Fund Institutional Class | 1.92% | 9.89% | -7.04% | 8.14% | -26.99% | 6.22% | 16.11% | 34.69% | -12.52% |
Correlation
The correlation between NCTWX and RIPIX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 18, 2018 | 0.64 |
The correlation between NCTWX and RIPIX shifts across timeframes, from 0.51 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NCTWX vs. RIPIX — Risk / Return Rank
NCTWX
RIPIX
NCTWX vs. RIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas II Fund (NCTWX) and Royce International Premier Fund Institutional Class (RIPIX). 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.
| NCTWX | RIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.98 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.05 | -0.17 | +0.23 |
| Martin ratioReturn relative to average drawdown | 0.13 | -0.43 | +0.56 |
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Drawdowns
NCTWX vs. RIPIX - Drawdown Comparison
The maximum NCTWX drawdown since its inception was -46.46%, which is greater than RIPIX's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for NCTWX and RIPIX.
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Drawdown Indicators
| NCTWX | RIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.46% | -41.89% | -4.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.83% | -15.33% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -20.63% | -17.28% | -3.35% |
Max Drawdown (5Y)Largest decline over 5 years | -25.89% | -41.89% | +16.00% |
Max Drawdown (10Y)Largest decline over 10 years | -36.61% | — | — |
Current DrawdownCurrent decline from peak | -2.83% | -24.88% | +22.05% |
Average DrawdownAverage peak-to-trough decline | -6.89% | -18.16% | +11.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.07% | 6.21% | -0.14% |
Volatility
NCTWX vs. RIPIX - Volatility Comparison
The current volatility for Nicholas II Fund (NCTWX) is 3.85%, while Royce International Premier Fund Institutional Class (RIPIX) has a volatility of 4.62%. This indicates that NCTWX experiences smaller price fluctuations and is considered to be less risky than RIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCTWX | RIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.85% | 4.62% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 11.56% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.43% | 13.80% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.18% | 15.54% | +2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 16.13% | +2.12% |
NCTWX vs. RIPIX - Expense Ratio Comparison
NCTWX has a 0.59% expense ratio, which is lower than RIPIX's 1.04% expense ratio.
Dividends
NCTWX vs. RIPIX - Dividend Comparison
NCTWX's dividend yield for the trailing twelve months is around 11.74%, more than RIPIX's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCTWX Nicholas II Fund | 11.74% | 12.43% | 5.21% | 0.72% | 3.92% | 9.86% | 3.79% | 11.36% | 12.57% | 11.02% | 5.11% | 6.40% |
RIPIX Royce International Premier Fund Institutional Class | 1.43% | 1.46% | 5.66% | 3.09% | 3.87% | 5.02% | 0.36% | 0.58% | 0.54% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NCTWX and RIPIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RIPIX has higher volatility (4.62%) compared to NCTWX (3.85%). In terms of maximum drawdown, NCTWX dropped -46.46% vs RIPIX's -41.89%.
NCTWX currently has the higher Sharpe Ratio (0.05 vs -0.19), 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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