RYPNX vs. JESVX

Last updated Jun 5, 2026

RYPNX (Royce Opportunity Fund) and JESVX (John Hancock Variable Insurance Trust Small Cap Value Trust) are both Small Cap Value Equities funds. Over the past 5 years, RYPNX returned 9.07%/yr vs 5.45%/yr for JESVX. Their correlation of 0.88 suggests significant overlap in exposure. RYPNX charges 1.21%/yr vs 1.04%/yr for JESVX.

Performance

RYPNX vs. JESVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Opportunity Fund (RYPNX) and John Hancock Variable Insurance Trust Small Cap Value Trust (JESVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYPNX achieves a 27.87% return, which is significantly higher than JESVX's 17.72% return.

RYPNX

• 1D: -1.36%
• 1M: 3.89%
• YTD: 27.87%
• 6M: 27.22%
• 1Y: 54.31%
• 3Y*: 21.07%
• 5Y*: 9.07%
• 10Y*: 14.79%

JESVX

• 1D: -0.96%
• 1M: 4.25%
• YTD: 17.72%
• 6M: 17.53%
• 1Y: 25.65%
• 3Y*: 11.69%
• 5Y*: 5.45%
• 10Y*: —

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

RYPNX vs. JESVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYPNX Royce Opportunity Fund	27.87%	11.95%	10.20%	19.72%	-17.19%	30.34%	26.52%	28.24%	-20.10%	20.29%
JESVX John Hancock Variable Insurance Trust Small Cap Value Trust	17.72%	0.13%	5.97%	14.02%	-9.84%	26.18%	-6.96%	26.52%	-12.98%	-3.88%

Correlation

The correlation between RYPNX and JESVX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.88

Over the past year, the correlation between RYPNX and JESVX has dropped to 0.65 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

Return for Risk

RYPNX vs. JESVX — Risk / Return Rank

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

RYPNX

RYPNX Risk / Return Rank: 76
RYPNX Sharpe Ratio Rank: 77
RYPNX Sortino Ratio Rank: 66
RYPNX Omega Ratio Rank: 57
RYPNX Calmar Ratio Rank: 90
RYPNX Martin Ratio Rank: 89

JESVX

JESVX Risk / Return Rank: 49
JESVX Sharpe Ratio Rank: 38
JESVX Sortino Ratio Rank: 42
JESVX Omega Ratio Rank: 35
JESVX Calmar Ratio Rank: 76
JESVX Martin Ratio Rank: 55

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.

RYPNX vs. JESVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Opportunity Fund (RYPNX) and John Hancock Variable Insurance Trust Small Cap Value Trust (JESVX). 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.

	RYPNX	JESVX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.74	+0.80
Sortino ratio: Return per unit of downside risk	3.37	2.61	+0.76
Omega ratio: Gain probability vs. loss probability	1.41	1.30	+0.11
Calmar ratio: Return relative to maximum drawdown	4.53	3.31	+1.22
Martin ratio: Return relative to average drawdown	17.26	10.69	+6.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYPNX vs. JESVX - Sharpe Ratio Comparison

The current RYPNX Sharpe Ratio is 2.55, which is higher than the JESVX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of RYPNX and JESVX, 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

	RYPNX	JESVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.74	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.28	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.23	+0.31

Drawdowns

RYPNX vs. JESVX - Drawdown Comparison

The maximum RYPNX drawdown since its inception was -69.31%, which is greater than JESVX's maximum drawdown of -46.09%. Use the drawdown chart below to compare losses from any high point for RYPNX and JESVX.

Drawdown Indicators

	RYPNX	JESVX	Difference
Max Drawdown Largest peak-to-trough decline	-69.31%	-46.09%	-23.22%
Max Drawdown (1Y) Largest decline over 1 year	-12.01%	-10.17%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-30.23%	-26.55%	-3.68%
Max Drawdown (5Y) Largest decline over 5 years	-30.77%	-26.55%	-4.22%
Max Drawdown (10Y) Largest decline over 10 years	-50.61%	—	—
Current Drawdown Current decline from peak	-1.36%	-1.09%	-0.27%
Average Drawdown Average peak-to-trough decline	-10.67%	-9.08%	-1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	4.27%	-1.13%

Volatility

RYPNX vs. JESVX - Volatility Comparison

The current volatility for Royce Opportunity Fund (RYPNX) is 5.54%, while John Hancock Variable Insurance Trust Small Cap Value Trust (JESVX) has a volatility of 6.00%. This indicates that RYPNX experiences smaller price fluctuations and is considered to be less risky than JESVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYPNX	JESVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	6.00%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	14.74%	14.55%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	21.47%	19.38%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.27%	20.84%	+3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.34%	23.34%	+2.00%

RYPNX vs. JESVX - Expense Ratio Comparison

RYPNX has a 1.21% expense ratio, which is higher than JESVX's 1.04% expense ratio.

Dividends

RYPNX vs. JESVX - Dividend Comparison

RYPNX's dividend yield for the trailing twelve months is around 7.53%, less than JESVX's 9.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JESVX John Hancock Variable Insurance Trust Small Cap Value Trust	9.96%	11.72%	6.53%	9.41%	21.62%	1.33%	12.54%	7.49%	16.31%	0.76%	0.00%	0.00%
RYPNX Royce Opportunity Fund	7.53%	9.63%	7.95%	4.52%	5.12%	22.51%	0.00%	1.57%	10.21%	14.91%	6.89%	10.04%

Frequently Asked Questions

Can I hold both RYPNX and JESVX in my portfolio?

RYPNX and JESVX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYPNX or JESVX?

JESVX has higher volatility (6.00%) compared to RYPNX (5.54%). In terms of maximum drawdown, RYPNX dropped -69.31% vs JESVX's -46.09%.

Which has better risk-adjusted returns?

RYPNX currently has the higher Sharpe Ratio (2.55 vs 1.74), 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.