RYIPX vs. BISAX
RYIPX (Royce International Premier Fund) and BISAX (Brandes International Small Cap Equity Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, RYIPX returned 4.37%/yr vs 11.60%/yr for BISAX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. RYIPX charges 1.44%/yr vs 1.36%/yr for BISAX.
Performance
RYIPX vs. BISAX - Performance Comparison
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Returns By Period
In the year-to-date period, RYIPX achieves a 1.70% return, which is significantly lower than BISAX's 7.90% return. Over the past 10 years, RYIPX has underperformed BISAX with an annualized return of 4.37%, while BISAX has yielded a comparatively higher 11.60% annualized return.
RYIPX
- 1D
- 2.17%
- 1M
- -0.26%
- 6M
- 1.04%
- YTD
- 1.70%
- 1Y
- -3.06%
- 3Y*
- 1.66%
- 5Y*
- -4.83%
- 10Y*
- 4.37%
- ALL TIME*
- 4.80%
BISAX
- 1D
- 1.47%
- 1M
- 7.60%
- 6M
- 3.33%
- YTD
- 7.90%
- 1Y
- 14.05%
- 3Y*
- 28.43%
- 5Y*
- 19.03%
- 10Y*
- 11.60%
- ALL TIME*
- 11.22%
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 |
RYIPX vs. BISAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYIPX Royce International Premier Fund | 1.70% | 9.37% | -7.37% | 7.68% | -27.27% | 5.77% | 15.74% | 34.22% | -12.76% | 39.80% |
BISAX Brandes International Small Cap Equity Fund | 7.90% | 45.50% | 23.18% | 39.03% | -8.68% | 18.39% | 4.62% | 6.80% | -20.13% | 11.52% |
Correlation
The correlation between RYIPX and BISAX is 0.72, 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. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2012 | 0.75 |
The correlation between RYIPX and BISAX has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
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Return for Risk
RYIPX vs. BISAX — Risk / Return Rank
RYIPX
BISAX
RYIPX vs. BISAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce International Premier Fund (RYIPX) and Brandes International Small Cap Equity Fund (BISAX). 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.
| RYIPX | BISAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.20 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.20 | -1.40 |
| Martin ratioReturn relative to average drawdown | -0.48 | 2.77 | -3.25 |
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Drawdowns
RYIPX vs. BISAX - Drawdown Comparison
The maximum RYIPX drawdown since its inception was -42.14%, smaller than the maximum BISAX drawdown of -47.30%. Use the drawdown chart below to compare losses from any high point for RYIPX and BISAX.
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Drawdown Indicators
| RYIPX | BISAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.14% | -47.30% | +5.16% |
Max Drawdown (1Y)Largest decline over 1 year | -15.56% | -11.63% | -3.93% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -11.63% | -5.78% |
Max Drawdown (5Y)Largest decline over 5 years | -42.14% | -31.44% | -10.70% |
Max Drawdown (10Y)Largest decline over 10 years | -42.14% | -47.30% | +5.16% |
Current DrawdownCurrent decline from peak | -26.35% | -1.00% | -25.35% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -8.04% | -4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 5.03% | +1.34% |
Volatility
RYIPX vs. BISAX - Volatility Comparison
Royce International Premier Fund (RYIPX) has a higher volatility of 4.63% compared to Brandes International Small Cap Equity Fund (BISAX) at 3.44%. This indicates that RYIPX's price experiences larger fluctuations and is considered to be riskier than BISAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYIPX | BISAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 3.44% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.57% | 10.76% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 12.86% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 13.89% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.08% | 14.13% | +0.95% |
RYIPX vs. BISAX - Expense Ratio Comparison
RYIPX has a 1.44% expense ratio, which is higher than BISAX's 1.36% expense ratio.
Dividends
RYIPX vs. BISAX - Dividend Comparison
RYIPX's dividend yield for the trailing twelve months is around 0.78%, less than BISAX's 3.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BISAX Brandes International Small Cap Equity Fund | 3.41% | 3.23% | 3.06% | 2.81% | 3.87% | 3.46% | 0.81% | 0.66% | 3.88% | 8.33% | 4.00% | 3.44% |
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
RYIPX and BISAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYIPX has higher volatility (4.63%) compared to BISAX (3.44%). In terms of maximum drawdown, RYIPX dropped -42.14% vs BISAX's -47.30%.
BISAX currently has the higher Sharpe Ratio (1.09 vs -0.22), 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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