RIPIX vs. MEFAX
RIPIX (Royce International Premier Fund Institutional Class) and MEFAX (MassMutual Mid Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, RIPIX returned -4.60%/yr vs 1.64%/yr for MEFAX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. RIPIX charges 1.04%/yr vs 1.20%/yr for MEFAX.
Performance
RIPIX vs. MEFAX - Performance Comparison
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Returns By Period
In the year-to-date period, RIPIX achieves a 1.12% return, which is significantly lower than MEFAX's 3.71% return.
RIPIX
- 1D
- -0.78%
- 1M
- -0.94%
- 6M
- 0.48%
- YTD
- 1.12%
- 1Y
- -3.41%
- 3Y*
- 2.13%
- 5Y*
- -4.60%
- 10Y*
- —
- ALL TIME*
- 2.09%
MEFAX
- 1D
- -0.29%
- 1M
- -2.73%
- 6M
- 1.57%
- YTD
- 3.71%
- 1Y
- 6.53%
- 3Y*
- 6.67%
- 5Y*
- 1.64%
- 10Y*
- 9.93%
- ALL TIME*
- 8.54%
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 |
RIPIX vs. MEFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RIPIX Royce International Premier Fund Institutional Class | 1.12% | 9.89% | -7.04% | 8.14% | -26.99% | 6.22% | 16.11% | 34.69% | -12.52% |
MEFAX MassMutual Mid Cap Growth Fund | 3.71% | 3.19% | 10.80% | 19.11% | -24.58% | 13.75% | 25.52% | 40.75% | -8.38% |
Correlation
The correlation between RIPIX and MEFAX is 0.57, 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. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 18, 2018 | 0.65 |
The correlation between RIPIX and MEFAX has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.
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Return for Risk
RIPIX vs. MEFAX — Risk / Return Rank
RIPIX
MEFAX
RIPIX vs. MEFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce International Premier Fund Institutional Class (RIPIX) and MassMutual Mid Cap Growth Fund (MEFAX). 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.
| RIPIX | MEFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.07 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 0.50 | -0.71 |
| Martin ratioReturn relative to average drawdown | -0.54 | 1.75 | -2.29 |
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Drawdowns
RIPIX vs. MEFAX - Drawdown Comparison
The maximum RIPIX drawdown since its inception was -41.89%, smaller than the maximum MEFAX drawdown of -56.04%. Use the drawdown chart below to compare losses from any high point for RIPIX and MEFAX.
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Drawdown Indicators
| RIPIX | MEFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.89% | -56.04% | +14.15% |
Max Drawdown (1Y)Largest decline over 1 year | -15.33% | -10.45% | -4.88% |
Max Drawdown (3Y)Largest decline over 3 years | -17.28% | -34.46% | +17.18% |
Max Drawdown (5Y)Largest decline over 5 years | -41.89% | -45.14% | +3.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.14% | — |
Current DrawdownCurrent decline from peak | -25.47% | -15.50% | -9.97% |
Average DrawdownAverage peak-to-trough decline | -18.16% | -11.45% | -6.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.22% | 2.95% | +3.27% |
Volatility
RIPIX vs. MEFAX - Volatility Comparison
Royce International Premier Fund Institutional Class (RIPIX) has a higher volatility of 4.63% compared to MassMutual Mid Cap Growth Fund (MEFAX) at 2.87%. This indicates that RIPIX's price experiences larger fluctuations and is considered to be riskier than MEFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RIPIX | MEFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 2.87% | +1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 11.55% | 11.81% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 15.14% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 27.51% | -11.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.12% | 23.90% | -7.78% |
RIPIX vs. MEFAX - Expense Ratio Comparison
RIPIX has a 1.04% expense ratio, which is lower than MEFAX's 1.20% expense ratio.
Dividends
RIPIX vs. MEFAX - Dividend Comparison
RIPIX's dividend yield for the trailing twelve months is around 1.44%, less than MEFAX's 32.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEFAX MassMutual Mid Cap Growth Fund | 32.93% | 34.16% | 21.40% | 7.62% | 20.71% | 29.49% | 6.92% | 12.81% | 12.06% | 7.66% | 5.32% | 10.27% |
RIPIX Royce International Premier Fund Institutional Class | 1.44% | 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
RIPIX and MEFAX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RIPIX has higher volatility (4.63%) compared to MEFAX (2.87%). In terms of maximum drawdown, RIPIX dropped -41.89% vs MEFAX's -56.04%.
MEFAX currently has the higher Sharpe Ratio (0.34 vs -0.24), 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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