RYOTX vs. RIPIX

Last updated Jun 4, 2026

RYOTX (Royce Micro Cap Series Fund) and RIPIX (Royce International Premier Fund Institutional Class) are both mutual funds - RYOTX is a Small Cap Blend Equities fund managed by Royce Investment Partners, while RIPIX is a Mid Cap Growth Equities fund managed by Royce Investment Partners. Over the past 5 years, RYOTX returned 11.46%/yr vs -3.05%/yr for RIPIX. A 0.61 correlation means they provide meaningful diversification when combined. RYOTX charges 1.20%/yr vs 1.04%/yr for RIPIX.

Performance

RYOTX vs. RIPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Micro Cap Series Fund (RYOTX) and Royce International Premier Fund Institutional Class (RIPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYOTX achieves a 37.74% return, which is significantly higher than RIPIX's 4.31% return.

RYOTX

• 1D: 1.60%
• 1M: 9.34%
• YTD: 37.74%
• 6M: 38.47%
• 1Y: 68.90%
• 3Y*: 26.49%
• 5Y*: 11.46%
• 10Y*: 13.85%

RIPIX

• 1D: -0.46%
• 1M: 2.83%
• YTD: 4.31%
• 6M: 5.00%
• 1Y: 3.61%
• 3Y*: 2.98%
• 5Y*: -3.05%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

RYOTX vs. RIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RYOTX Royce Micro Cap Series Fund	37.74%	13.51%	13.24%	19.51%	-22.66%	30.36%	24.56%	21.19%	-14.94%
RIPIX Royce International Premier Fund Institutional Class	4.31%	9.89%	-7.04%	8.14%	-26.99%	6.22%	16.11%	34.69%	-12.52%

Correlation

The correlation between RYOTX and RIPIX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since May 21, 2018	0.61

The correlation between RYOTX and RIPIX shifts across timeframes, from 0.52 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

RYOTX vs. RIPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RYOTX

RYOTX Risk / Return Rank: 89
RYOTX Sharpe Ratio Rank: 93
RYOTX Sortino Ratio Rank: 84
RYOTX Omega Ratio Rank: 75
RYOTX Calmar Ratio Rank: 95
RYOTX Martin Ratio Rank: 95

RIPIX

RIPIX Risk / Return Rank: 4
RIPIX Sharpe Ratio Rank: 4
RIPIX Sortino Ratio Rank: 4
RIPIX Omega Ratio Rank: 4
RIPIX Calmar Ratio Rank: 3
RIPIX Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RYOTX vs. RIPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Micro Cap Series Fund (RYOTX) and Royce International Premier Fund Institutional Class (RIPIX). 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	RIPIX	Difference
Sharpe ratio: Return per unit of total volatility	3.20	0.24	+2.96
Sortino ratio: Return per unit of downside risk	3.99	0.43	+3.56
Omega ratio: Gain probability vs. loss probability	1.49	1.05	+0.44
Calmar ratio: Return relative to maximum drawdown	6.04	0.19	+5.85
Martin ratio: Return relative to average drawdown	22.08	0.47	+21.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYOTX vs. RIPIX - Sharpe Ratio Comparison

The current RYOTX Sharpe Ratio is 3.20, which is higher than the RIPIX Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of RYOTX and RIPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RYOTX	RIPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.20	0.24	+2.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	-0.20	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.16	+0.47

Drawdowns

RYOTX vs. RIPIX - Drawdown Comparison

The maximum RYOTX drawdown since its inception was -56.86%, which is greater than RIPIX's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for RYOTX and RIPIX.

Drawdown Indicators

	RYOTX	RIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.86%	-41.89%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-12.10%	-16.38%	+4.28%
Max Drawdown (3Y) Largest decline over 3 years	-29.83%	-17.33%	-12.50%
Max Drawdown (5Y) Largest decline over 5 years	-35.84%	-41.89%	+6.05%
Max Drawdown (10Y) Largest decline over 10 years	-44.87%	—	—
Current Drawdown Current decline from peak	0.00%	-23.11%	+23.11%
Average Drawdown Average peak-to-trough decline	-9.43%	-18.01%	+8.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	6.68%	-3.37%

Volatility

RYOTX vs. RIPIX - Volatility Comparison

Royce Micro Cap Series Fund (RYOTX) has a higher volatility of 6.09% compared to Royce International Premier Fund Institutional Class (RIPIX) at 3.15%. This indicates that RYOTX's price experiences larger fluctuations and is considered to be riskier than RIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYOTX	RIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	3.15%	+2.94%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	10.56%	+5.64%
Volatility (1Y) Calculated over the trailing 1-year period	22.83%	13.08%	+9.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.44%	15.40%	+8.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.14%	16.14%	+7.00%

RYOTX vs. RIPIX - Expense Ratio Comparison

RYOTX has a 1.20% expense ratio, which is higher than RIPIX's 1.04% expense ratio.

Dividends

RYOTX vs. RIPIX - Dividend Comparison

RYOTX's dividend yield for the trailing twelve months is around 10.85%, more than RIPIX's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RIPIX Royce International Premier Fund Institutional Class	1.40%	1.46%	5.66%	3.09%	3.87%	5.02%	0.36%	0.58%	0.54%	0.00%	0.00%	0.00%
RYOTX Royce Micro Cap Series Fund	10.85%	14.94%	12.20%	6.97%	5.10%	23.10%	7.40%	2.72%	13.95%	7.76%	11.41%	12.99%

Frequently Asked Questions

Can I hold both RYOTX and RIPIX in my portfolio?

RYOTX and RIPIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYOTX or RIPIX?

RYOTX has higher volatility (6.09%) compared to RIPIX (3.15%). In terms of maximum drawdown, RYOTX dropped -56.86% vs RIPIX's -41.89%.

Which has better risk-adjusted returns?

RYOTX currently has the higher Sharpe Ratio (3.20 vs 0.24), 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.