RYOTX vs. PENNX
Compare and contrast key facts about Royce Micro Cap Series Fund (RYOTX) and Royce Pennsylvania Mutual Fund (PENNX).
RYOTX is managed by Royce Investment Partners. It was launched on Dec 31, 1991. PENNX is managed by Royce Investment Partners. It was launched on Oct 31, 1972.
Performance
RYOTX vs. PENNX - Performance Comparison
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RYOTX vs. PENNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYOTX Royce Micro Cap Series Fund | 6.06% | 13.51% | 13.24% | 19.51% | -22.66% | 30.36% | 24.56% | 21.19% | -9.09% | 5.29% |
PENNX Royce Pennsylvania Mutual Fund | 3.90% | 9.02% | 7.02% | 26.82% | -17.18% | 21.49% | 14.11% | 26.61% | -9.94% | 16.00% |
Returns By Period
In the year-to-date period, RYOTX achieves a 6.06% return, which is significantly higher than PENNX's 3.90% return. Both investments have delivered pretty close results over the past 10 years, with RYOTX having a 11.13% annualized return and PENNX not far behind at 10.76%.
RYOTX
- 1D
- -1.84%
- 1M
- -8.37%
- YTD
- 6.06%
- 6M
- 8.18%
- 1Y
- 41.43%
- 3Y*
- 16.69%
- 5Y*
- 6.90%
- 10Y*
- 11.13%
PENNX
- 1D
- 3.00%
- 1M
- -6.52%
- YTD
- 3.90%
- 6M
- 5.66%
- 1Y
- 24.43%
- 3Y*
- 12.44%
- 5Y*
- 5.97%
- 10Y*
- 10.76%
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RYOTX vs. PENNX - Expense Ratio Comparison
RYOTX has a 1.20% expense ratio, which is higher than PENNX's 0.92% expense ratio.
Return for Risk
RYOTX vs. PENNX — Risk / Return Rank
RYOTX
PENNX
RYOTX vs. PENNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Micro Cap Series Fund (RYOTX) and Royce Pennsylvania Mutual Fund (PENNX). 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.
| RYOTX | PENNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.53 | 1.11 | +0.42 |
Sortino ratioReturn per unit of downside risk | 2.14 | 1.68 | +0.46 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.22 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.80 | +0.87 |
Martin ratioReturn relative to average drawdown | 9.42 | 7.01 | +2.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RYOTX | PENNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 1.11 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.29 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.50 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.48 | +0.10 |
Correlation
The correlation between RYOTX and PENNX is 0.91, 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.
Dividends
RYOTX vs. PENNX - Dividend Comparison
RYOTX's dividend yield for the trailing twelve months is around 14.09%, more than PENNX's 6.45% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYOTX Royce Micro Cap Series Fund | 14.09% | 14.94% | 12.20% | 6.97% | 5.10% | 23.10% | 7.40% | 2.72% | 13.95% | 7.76% | 11.41% | 12.99% |
PENNX Royce Pennsylvania Mutual Fund | 6.45% | 6.70% | 9.35% | 4.91% | 5.19% | 28.20% | 5.05% | 3.85% | 23.68% | 21.27% | 7.15% | 23.31% |
Drawdowns
RYOTX vs. PENNX - Drawdown Comparison
The maximum RYOTX drawdown since its inception was -56.86%, roughly equal to the maximum PENNX drawdown of -57.00%. Use the drawdown chart below to compare losses from any high point for RYOTX and PENNX.
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Drawdown Indicators
| RYOTX | PENNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.86% | -57.00% | +0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.59% | -13.65% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -35.84% | -27.58% | -8.26% |
Max Drawdown (10Y)Largest decline over 10 years | -44.87% | -41.10% | -3.77% |
Current DrawdownCurrent decline from peak | -9.85% | -7.51% | -2.34% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -9.43% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 3.50% | +0.35% |
Volatility
RYOTX vs. PENNX - Volatility Comparison
Royce Micro Cap Series Fund (RYOTX) has a higher volatility of 8.66% compared to Royce Pennsylvania Mutual Fund (PENNX) at 7.09%. This indicates that RYOTX's price experiences larger fluctuations and is considered to be riskier than PENNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYOTX | PENNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.66% | 7.09% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 17.38% | 13.16% | +4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.43% | 22.55% | +3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.36% | 20.71% | +2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 21.51% | +1.50% |