OWLLX vs. ARSMX

Last updated Aug 1, 2026

OWLLX (Channing Intrinsic Value Small-Cap Fund) and ARSMX (AMG River Road Small-Mid Cap Value Fund) are both Small Cap Value Equities funds. Over the past 5 years, OWLLX returned 7.44%/yr vs 6.50%/yr for ARSMX. Their correlation of 0.89 means they have usually moved in the same direction. OWLLX charges 0.95%/yr vs 1.27%/yr for ARSMX.

Performance

OWLLX vs. ARSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Channing Intrinsic Value Small-Cap Fund (OWLLX) and AMG River Road Small-Mid Cap Value Fund (ARSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWLLX achieves a 18.78% return, which is significantly higher than ARSMX's 10.49% return.

OWLLX

• 1D: 0.51%
• 1M: 0.44%
• 6M: 8.20%
• YTD: 18.78%
• 1Y: 31.00%
• 3Y*: 12.82%
• 5Y*: 7.44%
• 10Y*: —
• ALL TIME*: 7.10%

ARSMX

• 1D: -1.31%
• 1M: 2.53%
• 6M: 8.11%
• YTD: 10.49%
• 1Y: 9.57%
• 3Y*: 9.29%
• 5Y*: 6.50%
• 10Y*: 10.18%
• ALL TIME*: 7.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARSMX AMG River Road Small-Mid Cap Value Fund	$0.00	$0.00	$0.00
OWLLX Channing Intrinsic Value Small-Cap Fund	$0.00	$0.00	$0.00

OWLLX vs. ARSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OWLLX Channing Intrinsic Value Small-Cap Fund	18.78%	7.46%	10.69%	19.71%	-17.53%	1.59%
ARSMX AMG River Road Small-Mid Cap Value Fund	10.49%	-0.83%	12.42%	14.48%	-8.62%	5.02%

Correlation

The correlation between OWLLX and ARSMX is 0.80, 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.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.89

The correlation between OWLLX and ARSMX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

Return for Risk

OWLLX vs. ARSMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OWLLX

OWLLX Risk / Return Rank: 48
OWLLX Sharpe Ratio Rank: 50
OWLLX Sortino Ratio Rank: 55
OWLLX Omega Ratio Rank: 45
OWLLX Calmar Ratio Rank: 50
OWLLX Martin Ratio Rank: 40

ARSMX

ARSMX Risk / Return Rank: 13
ARSMX Sharpe Ratio Rank: 13
ARSMX Sortino Ratio Rank: 13
ARSMX Omega Ratio Rank: 14
ARSMX Calmar Ratio Rank: 15
ARSMX Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OWLLX vs. ARSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Channing Intrinsic Value Small-Cap Fund (OWLLX) and AMG River Road Small-Mid Cap Value Fund (ARSMX). 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.

	OWLLX	ARSMX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	0.51	+0.92
Sortino ratio: Return per unit of downside risk	2.12	0.81	+1.31
Omega ratio: Gain probability vs. loss probability	1.25	1.10	+0.15
Calmar ratio: Return relative to maximum drawdown	1.96	0.71	+1.26
Martin ratio: Return relative to average drawdown	6.12	1.64	+4.48

OWLLX vs. ARSMX - Sharpe Ratio Comparison

The current OWLLX Sharpe Ratio is 1.43, which is higher than the ARSMX Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of OWLLX and ARSMX, 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

OWLLX vs. ARSMX - Drawdown Comparison

The maximum OWLLX drawdown since its inception was -31.16%, smaller than the maximum ARSMX drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for OWLLX and ARSMX.

Drawdown Indicators

	OWLLX	ARSMX	Difference
Max Drawdown Largest peak-to-trough decline	-31.16%	-51.75%	+20.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.10%	-10.37%	-3.73%
Max Drawdown (3Y) Largest decline over 3 years	-31.16%	-19.34%	-11.82%
Max Drawdown (5Y) Largest decline over 5 years	-31.16%	-19.34%	-11.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.96%	—
Current Drawdown Current decline from peak	-2.53%	-1.59%	-0.94%
Average Drawdown Average peak-to-trough decline	-9.08%	-8.06%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	4.47%	+0.04%

Volatility

OWLLX vs. ARSMX - Volatility Comparison

Channing Intrinsic Value Small-Cap Fund (OWLLX) has a higher volatility of 5.43% compared to AMG River Road Small-Mid Cap Value Fund (ARSMX) at 4.05%. This indicates that OWLLX's price experiences larger fluctuations and is considered to be riskier than ARSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWLLX	ARSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	4.05%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	9.15%	+5.25%
Volatility (1Y) Calculated over the trailing 1-year period	19.41%	14.41%	+5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.23%	17.71%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	19.51%	+2.72%

OWLLX vs. ARSMX - Expense Ratio Comparison

OWLLX has a 0.95% expense ratio, which is lower than ARSMX's 1.27% expense ratio.

Dividends

OWLLX vs. ARSMX - Dividend Comparison

OWLLX's dividend yield for the trailing twelve months is around 0.54%, while ARSMX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARSMX AMG River Road Small-Mid Cap Value Fund	0.00%	0.00%	9.27%	3.89%	4.85%	5.86%	0.00%	3.60%	8.60%	15.66%	8.03%	17.82%
OWLLX Channing Intrinsic Value Small-Cap Fund	0.54%	0.65%	0.45%	0.49%	0.41%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OWLLX and ARSMX in my portfolio?

OWLLX and ARSMX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWLLX or ARSMX?

OWLLX has higher volatility (5.43%) compared to ARSMX (4.05%). In terms of maximum drawdown, OWLLX dropped -31.16% vs ARSMX's -51.75%.

Which has better risk-adjusted returns?

OWLLX currently has the higher Sharpe Ratio (1.43 vs 0.51), 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.