RYIPX vs. CVISX
RYIPX (Royce International Premier Fund) and CVISX (Causeway International Small Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, RYIPX returned 4.37%/yr vs 11.28%/yr for CVISX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. RYIPX charges 1.44%/yr vs 1.35%/yr for CVISX.
Performance
RYIPX vs. CVISX - 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 CVISX's 16.21% return. Over the past 10 years, RYIPX has underperformed CVISX with an annualized return of 4.37%, while CVISX has yielded a comparatively higher 11.28% 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%
CVISX
- 1D
- 2.53%
- 1M
- 4.63%
- 6M
- 7.27%
- YTD
- 16.21%
- 1Y
- 28.48%
- 3Y*
- 20.90%
- 5Y*
- 14.01%
- 10Y*
- 11.28%
- ALL TIME*
- 10.61%
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. CVISX - 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% |
CVISX Causeway International Small Cap Fund | 16.21% | 32.93% | 9.71% | 26.74% | -11.51% | 21.30% | 2.48% | 18.55% | -21.34% | 34.52% |
Correlation
The correlation between RYIPX and CVISX is 0.68, 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. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.77 |
The correlation between RYIPX and CVISX has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.
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Return for Risk
RYIPX vs. CVISX — Risk / Return Rank
RYIPX
CVISX
RYIPX vs. CVISX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce International Premier Fund (RYIPX) and Causeway International Small Cap Fund (CVISX). 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 | CVISX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.07 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.61 | -2.81 |
| Martin ratioReturn relative to average drawdown | -0.48 | 8.47 | -8.95 |
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Drawdowns
RYIPX vs. CVISX - Drawdown Comparison
The maximum RYIPX drawdown since its inception was -42.14%, smaller than the maximum CVISX drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for RYIPX and CVISX.
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Drawdown Indicators
| RYIPX | CVISX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.14% | -48.50% | +6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -15.56% | -10.77% | -4.79% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -15.17% | -2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -42.14% | -25.20% | -16.94% |
Max Drawdown (10Y)Largest decline over 10 years | -42.14% | -48.50% | +6.36% |
Current DrawdownCurrent decline from peak | -26.35% | -0.39% | -25.96% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -8.81% | -3.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 3.31% | +3.06% |
Volatility
RYIPX vs. CVISX - Volatility Comparison
The current volatility for Royce International Premier Fund (RYIPX) is 4.63%, while Causeway International Small Cap Fund (CVISX) has a volatility of 5.01%. This indicates that RYIPX experiences smaller price fluctuations and is considered to be less risky than CVISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYIPX | CVISX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 5.01% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 11.57% | 13.12% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 15.27% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 16.29% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.08% | 16.75% | -1.67% |
RYIPX vs. CVISX - Expense Ratio Comparison
RYIPX has a 1.44% expense ratio, which is higher than CVISX's 1.35% expense ratio.
Dividends
RYIPX vs. CVISX - Dividend Comparison
RYIPX's dividend yield for the trailing twelve months is around 0.78%, less than CVISX's 14.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVISX Causeway International Small Cap Fund | 14.25% | 16.56% | 10.60% | 6.14% | 2.75% | 3.48% | 3.42% | 3.57% | 2.91% | 8.23% | 2.78% | 2.00% |
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 CVISX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVISX has higher volatility (5.01%) compared to RYIPX (4.63%). In terms of maximum drawdown, RYIPX dropped -42.14% vs CVISX's -48.50%.
CVISX currently has the higher Sharpe Ratio (1.85 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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