PENNX vs. RYIPX
PENNX (Royce Pennsylvania Mutual Fund) and RYIPX (Royce International Premier Fund) are both mutual funds - PENNX is a Small Cap Blend Equities fund managed by Royce Investment Partners, while RYIPX is a Foreign Small & Mid Cap Equities fund managed by Royce Investment Partners. Over the past 10 years, PENNX returned 11.82%/yr vs 4.57%/yr for RYIPX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. PENNX charges 0.92%/yr vs 1.44%/yr for RYIPX.
Performance
PENNX vs. RYIPX - Performance Comparison
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Returns By Period
In the year-to-date period, PENNX achieves a 21.65% return, which is significantly higher than RYIPX's 2.09% return. Over the past 10 years, PENNX has outperformed RYIPX with an annualized return of 11.82%, while RYIPX has yielded a comparatively lower 4.57% annualized return.
PENNX
- 1D
- 1.81%
- 1M
- 0.27%
- 6M
- 12.18%
- YTD
- 21.65%
- 1Y
- 31.30%
- 3Y*
- 15.11%
- 5Y*
- 9.61%
- 10Y*
- 11.82%
- ALL TIME*
- 9.16%
RYIPX
- 1D
- 1.17%
- 1M
- 0.13%
- 6M
- 2.22%
- YTD
- 2.09%
- 1Y
- -3.29%
- 3Y*
- 2.64%
- 5Y*
- -5.06%
- 10Y*
- 4.57%
- ALL TIME*
- 4.82%
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 |
PENNX vs. RYIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PENNX Royce Pennsylvania Mutual Fund | 21.65% | 9.02% | 7.02% | 26.82% | -17.18% | 21.49% | 14.11% | 26.61% | -9.94% | 16.00% |
RYIPX Royce International Premier Fund | 2.09% | 9.37% | -7.37% | 7.68% | -27.27% | 5.77% | 15.74% | 34.22% | -12.76% | 39.80% |
Correlation
The correlation between PENNX and RYIPX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.61 |
The correlation between PENNX and RYIPX shifts across timeframes, from 0.48 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PENNX vs. RYIPX — Risk / Return Rank
PENNX
RYIPX
PENNX vs. RYIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Pennsylvania Mutual Fund (PENNX) and Royce International Premier Fund (RYIPX). 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.
| PENNX | RYIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.98 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | -0.17 | +3.48 |
| Martin ratioReturn relative to average drawdown | 11.22 | -0.42 | +11.65 |
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Drawdowns
PENNX vs. RYIPX - Drawdown Comparison
The maximum PENNX drawdown since its inception was -57.00%, which is greater than RYIPX's maximum drawdown of -42.14%. Use the drawdown chart below to compare losses from any high point for PENNX and RYIPX.
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Drawdown Indicators
| PENNX | RYIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.00% | -42.14% | -14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -15.56% | +5.35% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | -17.41% | -9.01% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -42.14% | +14.56% |
Max Drawdown (10Y)Largest decline over 10 years | -41.10% | -42.14% | +1.04% |
Current DrawdownCurrent decline from peak | -1.75% | -26.06% | +24.31% |
Average DrawdownAverage peak-to-trough decline | -9.38% | -12.51% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 6.39% | -3.38% |
Volatility
PENNX vs. RYIPX - Volatility Comparison
Royce Pennsylvania Mutual Fund (PENNX) and Royce International Premier Fund (RYIPX) have volatilities of 4.50% and 4.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PENNX | RYIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 4.59% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.53% | 11.52% | +2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 13.86% | +4.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.75% | 15.57% | +5.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 15.09% | +6.46% |
PENNX vs. RYIPX - Expense Ratio Comparison
PENNX has a 0.92% expense ratio, which is lower than RYIPX's 1.44% expense ratio.
Dividends
PENNX vs. RYIPX - Dividend Comparison
PENNX's dividend yield for the trailing twelve months is around 5.51%, more than RYIPX's 0.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PENNX Royce Pennsylvania Mutual Fund | 5.51% | 6.70% | 9.35% | 4.91% | 5.19% | 28.20% | 5.05% | 3.85% | 23.68% | 21.27% | 7.15% | 23.31% |
RYIPX Royce International Premier Fund | 0.78% | 0.79% | 4.10% | 2.18% | 3.18% | 4.51% | 0.00% | 0.20% | 0.00% | 0.71% | 2.40% | 2.61% |
Frequently Asked Questions
PENNX and RYIPX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYIPX has higher volatility (4.59%) compared to PENNX (4.50%). In terms of maximum drawdown, PENNX dropped -57.00% vs RYIPX's -42.14%.
PENNX currently has the higher Sharpe Ratio (1.85 vs -0.20), 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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