RYOTX vs. IWC
Compare and contrast key facts about Royce Micro Cap Series Fund (RYOTX) and iShares Microcap ETF (IWC).
RYOTX is managed by Royce Investment Partners. It was launched on Dec 31, 1991. IWC is a passively managed fund by iShares that tracks the performance of the Russell Microcap Index. It was launched on Aug 12, 2005.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RYOTX or IWC.
Key characteristics
| RYOTX | IWC | |
|---|---|---|
| YTD Return | 6.18% | 7.26% |
| 1Y Return | 19.40% | 22.19% |
| 3Y Return (Ann) | 1.37% | -4.10% |
| 5Y Return (Ann) | 11.90% | 7.48% |
| 10Y Return (Ann) | 6.92% | 6.78% |
| Sharpe Ratio | 0.85 | 0.91 |
| Daily Std Dev | 22.25% | 23.86% |
| Max Drawdown | -56.86% | -64.61% |
| Current Drawdown | -8.01% | -18.93% |
Correlation
The correlation between RYOTX and IWC is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
RYOTX vs. IWC - Performance Comparison
In the year-to-date period, RYOTX achieves a 6.18% return, which is significantly lower than IWC's 7.26% return. Both investments have delivered pretty close results over the past 10 years, with RYOTX having a 6.92% annualized return and IWC not far behind at 6.78%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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RYOTX vs. IWC - Expense Ratio Comparison
RYOTX has a 1.20% expense ratio, which is higher than IWC's 0.60% expense ratio.
Risk-Adjusted Performance
RYOTX vs. IWC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Micro Cap Series Fund (RYOTX) and iShares Microcap ETF (IWC). 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.
Dividends
RYOTX vs. IWC - Dividend Comparison
RYOTX's dividend yield for the trailing twelve months is around 6.56%, more than IWC's 1.13% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYOTX Royce Micro Cap Series Fund | 6.56% | 6.97% | 5.10% | 23.10% | 7.40% | 2.72% | 13.95% | 7.81% | 11.41% | 12.99% | 10.25% | 7.26% |
IWC iShares Microcap ETF | 1.13% | 1.17% | 1.18% | 0.78% | 0.98% | 1.19% | 1.01% | 1.09% | 1.16% | 1.49% | 1.11% | 1.01% |
Drawdowns
RYOTX vs. IWC - Drawdown Comparison
The maximum RYOTX drawdown since its inception was -56.86%, smaller than the maximum IWC drawdown of -64.61%. Use the drawdown chart below to compare losses from any high point for RYOTX and IWC. For additional features, visit the drawdowns tool.
Volatility
RYOTX vs. IWC - Volatility Comparison
Royce Micro Cap Series Fund (RYOTX) has a higher volatility of 7.18% compared to iShares Microcap ETF (IWC) at 6.82%. This indicates that RYOTX's price experiences larger fluctuations and is considered to be riskier than IWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.