RFISX vs. ETMGX
RFISX (Ranger Small Cap Fund) and ETMGX (Eaton Vance Tax-Managed Small-Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, RFISX returned 8.23%/yr vs 8.13%/yr for ETMGX. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 1.11% expense ratio.
Performance
RFISX vs. ETMGX - Performance Comparison
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Returns By Period
In the year-to-date period, RFISX achieves a 9.03% return, which is significantly higher than ETMGX's 7.18% return. Both investments have delivered pretty close results over the past 10 years, with RFISX having a 8.23% annualized return and ETMGX not far behind at 8.13%.
RFISX
- 1D
- 1.58%
- 1M
- -0.29%
- 6M
- 2.78%
- YTD
- 9.03%
- 1Y
- 11.01%
- 3Y*
- 5.65%
- 5Y*
- -0.67%
- 10Y*
- 8.23%
ETMGX
- 1D
- 0.95%
- 1M
- 2.23%
- 6M
- 2.09%
- YTD
- 7.18%
- 1Y
- 0.99%
- 3Y*
- 4.59%
- 5Y*
- 2.11%
- 10Y*
- 8.13%
RFISX vs. ETMGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RFISX Ranger Small Cap Fund | 9.03% | -3.01% | 6.32% | 20.25% | -30.89% | 17.29% | 32.82% | 29.66% | -7.80% | 15.38% |
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 7.18% | -6.63% | 11.43% | 11.06% | -16.53% | 20.91% | 12.33% | 27.32% | -5.86% | 15.26% |
Correlation
The correlation between RFISX and ETMGX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.89 |
The correlation between RFISX and ETMGX shifts across timeframes, from 0.77 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RFISX vs. ETMGX — Risk / Return Rank
RFISX
ETMGX
RFISX vs. ETMGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ranger Small Cap Fund (RFISX) and Eaton Vance Tax-Managed Small-Cap Fund (ETMGX). 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.
| RFISX | ETMGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.02 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 0.05 | +0.60 |
| Martin ratioReturn relative to average drawdown | 2.22 | 0.11 | +2.11 |
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Drawdowns
RFISX vs. ETMGX - Drawdown Comparison
The maximum RFISX drawdown since its inception was -72.32%, which is greater than ETMGX's maximum drawdown of -37.02%. Use the drawdown chart below to compare losses from any high point for RFISX and ETMGX.
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Drawdown Indicators
| RFISX | ETMGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.32% | -37.02% | -35.30% |
Max Drawdown (1Y)Largest decline over 1 year | -14.67% | -13.14% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -72.32% | -22.28% | -50.04% |
Max Drawdown (5Y)Largest decline over 5 years | -72.32% | -25.14% | -47.18% |
Max Drawdown (10Y)Largest decline over 10 years | -72.32% | -37.02% | -35.30% |
Current DrawdownCurrent decline from peak | -63.76% | -8.13% | -55.63% |
Average DrawdownAverage peak-to-trough decline | -14.94% | -6.60% | -8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 5.97% | -1.69% |
Volatility
RFISX vs. ETMGX - Volatility Comparison
Ranger Small Cap Fund (RFISX) has a higher volatility of 6.86% compared to Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) at 5.15%. This indicates that RFISX's price experiences larger fluctuations and is considered to be riskier than ETMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFISX | ETMGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.86% | 5.15% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 15.52% | 11.69% | +3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.71% | 16.35% | +3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.06% | 18.79% | +68.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.49% | 19.87% | +43.62% |
RFISX vs. ETMGX - Expense Ratio Comparison
Both RFISX and ETMGX have an expense ratio of 1.11%.
Dividends
RFISX vs. ETMGX - Dividend Comparison
RFISX's dividend yield for the trailing twelve months is around 9.88%, more than ETMGX's 6.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 6.57% | 7.04% | 2.85% | 1.36% | 2.80% | 8.28% | 0.09% | 6.50% | 7.75% | 11.87% | 6.00% | 5.50% |
RFISX Ranger Small Cap Fund | 9.88% | 10.77% | 0.00% | 6.35% | 3.76% | 10.05% | 6.71% | 6.62% | 16.25% | 8.08% | 9.32% | 6.87% |
Frequently Asked Questions
RFISX and ETMGX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFISX has higher volatility (6.86%) compared to ETMGX (5.15%). In terms of maximum drawdown, RFISX dropped -72.32% vs ETMGX's -37.02%.
RFISX currently has the higher Sharpe Ratio (0.48 vs 0.04), 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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