PENNX vs. VB
Compare and contrast key facts about Royce Pennsylvania Mutual Fund (PENNX) and Vanguard Small-Cap ETF (VB).
PENNX is managed by Royce Investment Partners. It was launched on Oct 31, 1972. VB is a passively managed fund by Vanguard that tracks the performance of the CRSP US Small Cap. It was launched on Jan 26, 2004.
Performance
PENNX vs. VB - Performance Comparison
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PENNX vs. VB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PENNX Royce Pennsylvania Mutual Fund | 0.87% | 9.02% | 7.02% | 26.82% | -17.18% | 21.49% | 14.11% | 26.61% | -9.94% | 16.00% |
VB Vanguard Small-Cap ETF | 1.92% | 8.87% | 14.17% | 18.22% | -17.51% | 17.57% | 19.19% | 27.34% | -9.34% | 16.26% |
Returns By Period
In the year-to-date period, PENNX achieves a 0.87% return, which is significantly lower than VB's 1.92% return. Both investments have delivered pretty close results over the past 10 years, with PENNX having a 10.43% annualized return and VB not far ahead at 10.51%.
PENNX
- 1D
- -1.17%
- 1M
- -8.36%
- YTD
- 0.87%
- 6M
- 2.90%
- 1Y
- 21.24%
- 3Y*
- 11.33%
- 5Y*
- 5.76%
- 10Y*
- 10.43%
VB
- 1D
- 3.18%
- 1M
- -5.13%
- YTD
- 1.92%
- 6M
- 3.76%
- 1Y
- 19.75%
- 3Y*
- 13.04%
- 5Y*
- 5.35%
- 10Y*
- 10.51%
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PENNX vs. VB - Expense Ratio Comparison
PENNX has a 0.92% expense ratio, which is higher than VB's 0.05% expense ratio.
Return for Risk
PENNX vs. VB — Risk / Return Rank
PENNX
VB
PENNX vs. VB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Pennsylvania Mutual Fund (PENNX) and Vanguard Small-Cap ETF (VB). 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.
| PENNX | VB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 0.91 | +0.03 |
Sortino ratioReturn per unit of downside risk | 1.46 | 1.41 | +0.05 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.39 | -0.05 |
Martin ratioReturn relative to average drawdown | 5.24 | 5.97 | -0.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PENNX | VB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.91 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.26 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.49 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.42 | +0.06 |
Correlation
The correlation between PENNX and VB is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PENNX vs. VB - Dividend Comparison
PENNX's dividend yield for the trailing twelve months is around 6.64%, more than VB's 1.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PENNX Royce Pennsylvania Mutual Fund | 6.64% | 6.70% | 9.35% | 4.91% | 5.19% | 28.20% | 5.05% | 3.85% | 23.68% | 21.27% | 7.15% | 23.31% |
VB Vanguard Small-Cap ETF | 1.34% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
Drawdowns
PENNX vs. VB - Drawdown Comparison
The maximum PENNX drawdown since its inception was -57.00%, roughly equal to the maximum VB drawdown of -59.56%. Use the drawdown chart below to compare losses from any high point for PENNX and VB.
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Drawdown Indicators
| PENNX | VB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.00% | -59.56% | +2.56% |
Max Drawdown (1Y)Largest decline over 1 year | -13.65% | -14.29% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -28.15% | +0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -41.10% | -42.05% | +0.95% |
Current DrawdownCurrent decline from peak | -10.21% | -6.08% | -4.13% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -8.49% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 3.32% | +0.15% |
Volatility
PENNX vs. VB - Volatility Comparison
The current volatility for Royce Pennsylvania Mutual Fund (PENNX) is 6.36%, while Vanguard Small-Cap ETF (VB) has a volatility of 6.84%. This indicates that PENNX experiences smaller price fluctuations and is considered to be less risky than VB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PENNX | VB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 6.84% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.84% | 12.60% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.40% | 21.86% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 20.78% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.49% | 21.40% | +0.09% |