RYIPX vs. MWNIX
RYIPX (Royce International Premier Fund) and MWNIX (MFS International New Discovery Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, RYIPX returned 4.69%/yr vs 6.67%/yr for MWNIX. Their correlation of 0.88 suggests significant overlap in exposure. RYIPX charges 1.44%/yr vs 1.03%/yr for MWNIX.
Performance
RYIPX vs. MWNIX - Performance Comparison
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Returns By Period
In the year-to-date period, RYIPX achieves a -1.11% return, which is significantly lower than MWNIX's 4.54% return. Over the past 10 years, RYIPX has underperformed MWNIX with an annualized return of 4.69%, while MWNIX has yielded a comparatively higher 6.67% annualized return.
RYIPX
- 1D
- -1.05%
- 1M
- -4.42%
- YTD
- -1.11%
- 6M
- -1.37%
- 1Y
- -5.04%
- 3Y*
- 1.21%
- 5Y*
- -4.90%
- 10Y*
- 4.69%
MWNIX
- 1D
- -2.41%
- 1M
- -1.51%
- YTD
- 4.54%
- 6M
- 4.20%
- 1Y
- 7.55%
- 3Y*
- 9.71%
- 5Y*
- 2.39%
- 10Y*
- 6.67%
RYIPX vs. MWNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYIPX Royce International Premier Fund | -1.11% | 9.37% | -7.37% | 7.68% | -27.27% | 5.77% | 15.74% | 34.22% | -12.76% | 39.80% |
MWNIX MFS International New Discovery Fund | 4.54% | 16.88% | 0.90% | 13.03% | -18.63% | 5.06% | 9.98% | 22.85% | -10.41% | 30.67% |
Correlation
The correlation between RYIPX and MWNIX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.88 |
The correlation between RYIPX and MWNIX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.
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Return for Risk
RYIPX vs. MWNIX — Risk / Return Rank
RYIPX
MWNIX
RYIPX vs. MWNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce International Premier Fund (RYIPX) and MFS International New Discovery Fund (MWNIX). 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 | MWNIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.14 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 0.76 | -1.00 |
| Martin ratioReturn relative to average drawdown | -0.56 | 2.56 | -3.12 |
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Drawdowns
RYIPX vs. MWNIX - Drawdown Comparison
The maximum RYIPX drawdown since its inception was -42.14%, smaller than the maximum MWNIX drawdown of -58.38%. Use the drawdown chart below to compare losses from any high point for RYIPX and MWNIX.
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Drawdown Indicators
| RYIPX | MWNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.14% | -58.38% | +16.24% |
Max Drawdown (1Y)Largest decline over 1 year | -16.68% | -11.78% | -4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -15.12% | -2.29% |
Max Drawdown (5Y)Largest decline over 5 years | -42.14% | -33.67% | -8.47% |
Max Drawdown (10Y)Largest decline over 10 years | -42.14% | -34.72% | -7.42% |
Current DrawdownCurrent decline from peak | -28.38% | -3.83% | -24.55% |
Average DrawdownAverage peak-to-trough decline | -12.40% | -9.56% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.05% | 3.48% | +3.57% |
Volatility
RYIPX vs. MWNIX - Volatility Comparison
The current volatility for Royce International Premier Fund (RYIPX) is 4.15%, while MFS International New Discovery Fund (MWNIX) has a volatility of 4.81%. This indicates that RYIPX experiences smaller price fluctuations and is considered to be less risky than MWNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYIPX | MWNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 4.81% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 11.15% | 10.36% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.32% | 12.16% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.50% | 13.30% | +2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.09% | 13.82% | +1.27% |
RYIPX vs. MWNIX - Expense Ratio Comparison
RYIPX has a 1.44% expense ratio, which is higher than MWNIX's 1.03% expense ratio.
Dividends
RYIPX vs. MWNIX - Dividend Comparison
RYIPX's dividend yield for the trailing twelve months is around 0.80%, less than MWNIX's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MWNIX MFS International New Discovery Fund | 3.10% | 3.24% | 7.61% | 4.05% | 5.68% | 5.06% | 3.90% | 2.67% | 6.68% | 1.63% | 1.09% | 1.12% |
RYIPX Royce International Premier Fund | 0.80% | 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 MWNIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWNIX has higher volatility (4.81%) compared to RYIPX (4.15%). In terms of maximum drawdown, RYIPX dropped -42.14% vs MWNIX's -58.38%.
MWNIX currently has the higher Sharpe Ratio (0.74 vs -0.30), 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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