RMT vs. VSIAX

Last updated Jun 5, 2026

RMT (Royce Micro-Cap Trust, Inc.) is a stock, while VSIAX (Vanguard Small-Cap Value Index Fund Admiral Shares) is Small Cap Value Equities fund managed by Vanguard. Over the past 10 years, RMT returned 15.45%/yr vs 10.52%/yr for VSIAX. Their correlation of 0.81 suggests significant overlap in exposure.

Performance

RMT vs. VSIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Micro-Cap Trust, Inc. (RMT) and Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMT achieves a 38.67% return, which is significantly higher than VSIAX's 11.64% return. Over the past 10 years, RMT has outperformed VSIAX with an annualized return of 15.45%, while VSIAX has yielded a comparatively lower 10.52% annualized return.

RMT

• 1D: 0.92%
• 1M: 4.79%
• YTD: 38.67%
• 6M: 39.80%
• 1Y: 72.72%
• 3Y*: 28.61%
• 5Y*: 11.91%
• 10Y*: 15.45%

VSIAX

• 1D: -0.37%
• 1M: 1.33%
• YTD: 11.64%
• 6M: 11.86%
• 1Y: 26.38%
• 3Y*: 16.45%
• 5Y*: 7.96%
• 10Y*: 10.52%

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

RMT vs. VSIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMT Royce Micro-Cap Trust, Inc.	38.67%	16.10%	13.97%	15.81%	-16.82%	22.56%	27.97%	25.05%	-14.88%	25.27%
VSIAX Vanguard Small-Cap Value Index Fund Admiral Shares	11.64%	9.09%	11.34%	17.06%	-9.31%	28.10%	5.80%	22.76%	-12.24%	11.80%

Correlation

The correlation between RMT and VSIAX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 28, 2011	0.81

The correlation between RMT and VSIAX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

RMT vs. VSIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RMT

RMT Risk / Return Rank: 96
RMT Sharpe Ratio Rank: 97
RMT Sortino Ratio Rank: 97
RMT Omega Ratio Rank: 95
RMT Calmar Ratio Rank: 94
RMT Martin Ratio Rank: 96

VSIAX

VSIAX Risk / Return Rank: 42
VSIAX Sharpe Ratio Rank: 35
VSIAX Sortino Ratio Rank: 36
VSIAX Omega Ratio Rank: 32
VSIAX Calmar Ratio Rank: 58
VSIAX Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RMT vs. VSIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Micro-Cap Trust, Inc. (RMT) and Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX). 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.

	RMT	VSIAX	Difference
Sharpe ratio: Return per unit of total volatility	3.68	1.71	+1.97
Sortino ratio: Return per unit of downside risk	4.59	2.52	+2.07
Omega ratio: Gain probability vs. loss probability	1.58	1.30	+0.29
Calmar ratio: Return relative to maximum drawdown	6.43	2.92	+3.52
Martin ratio: Return relative to average drawdown	23.17	10.34	+12.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMT vs. VSIAX - Sharpe Ratio Comparison

The current RMT Sharpe Ratio is 3.68, which is higher than the VSIAX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of RMT and VSIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RMT	VSIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.68	1.71	+1.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.40	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.47	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.59	-0.18

Drawdowns

RMT vs. VSIAX - Drawdown Comparison

The maximum RMT drawdown since its inception was -73.94%, which is greater than VSIAX's maximum drawdown of -45.39%. Use the drawdown chart below to compare losses from any high point for RMT and VSIAX.

Drawdown Indicators

	RMT	VSIAX	Difference
Max Drawdown Largest peak-to-trough decline	-73.94%	-45.39%	-28.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.36%	-8.87%	-2.49%
Max Drawdown (3Y) Largest decline over 3 years	-26.41%	-24.09%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-30.73%	-24.09%	-6.64%
Max Drawdown (10Y) Largest decline over 10 years	-50.40%	-45.39%	-5.01%
Current Drawdown Current decline from peak	0.00%	-0.37%	+0.37%
Average Drawdown Average peak-to-trough decline	-14.11%	-5.49%	-8.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	2.50%	+0.65%

Volatility

RMT vs. VSIAX - Volatility Comparison

Royce Micro-Cap Trust, Inc. (RMT) has a higher volatility of 5.51% compared to Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) at 3.97%. This indicates that RMT's price experiences larger fluctuations and is considered to be riskier than VSIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMT	VSIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	3.97%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	10.43%	+4.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.85%	15.19%	+4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	19.77%	+1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.33%	22.45%	-0.12%

Dividends

RMT vs. VSIAX - Dividend Comparison

RMT's dividend yield for the trailing twelve months is around 5.55%, more than VSIAX's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RMT Royce Micro-Cap Trust, Inc.	5.55%	7.57%	7.59%	8.01%	10.94%	7.27%	6.03%	7.96%	10.11%	7.31%	7.84%	17.36%
VSIAX Vanguard Small-Cap Value Index Fund Admiral Shares	1.76%	1.95%	1.98%	2.10%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both RMT and VSIAX in my portfolio?

RMT and VSIAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMT or VSIAX?

RMT has higher volatility (5.51%) compared to VSIAX (3.97%). In terms of maximum drawdown, RMT dropped -73.94% vs VSIAX's -45.39%.

Which has better risk-adjusted returns?

RMT currently has the higher Sharpe Ratio (3.68 vs 1.71), 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.