RYPNX vs. RYVFX
RYPNX (Royce Opportunity Fund) and RYVFX (Royce Small-Cap Value Fund) are both Small Cap Value Equities funds from Royce Investment Partners. Over the past 10 years, RYPNX returned 14.01%/yr vs 8.84%/yr for RYVFX. Their correlation of 0.91 means they have usually moved in the same direction. RYPNX charges 1.21%/yr vs 1.49%/yr for RYVFX.
Performance
RYPNX vs. RYVFX - Performance Comparison
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Returns By Period
In the year-to-date period, RYPNX achieves a 27.11% return, which is significantly higher than RYVFX's 22.30% return. Over the past 10 years, RYPNX has outperformed RYVFX with an annualized return of 14.01%, while RYVFX has yielded a comparatively lower 8.84% annualized return.
RYPNX
- 1D
- 2.49%
- 1M
- -2.37%
- 6M
- 14.35%
- YTD
- 27.11%
- 1Y
- 44.07%
- 3Y*
- 17.73%
- 5Y*
- 10.32%
- 10Y*
- 14.01%
- ALL TIME*
- 12.54%
RYVFX
- 1D
- 1.10%
- 1M
- 2.23%
- 6M
- 13.66%
- YTD
- 22.30%
- 1Y
- 34.48%
- 3Y*
- 14.72%
- 5Y*
- 10.44%
- 10Y*
- 8.84%
- ALL TIME*
- 8.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RYPNX vs. RYVFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYPNX Royce Opportunity Fund | 27.11% | 11.95% | 10.20% | 19.72% | -17.19% | 30.34% | 26.52% | 28.24% | -20.10% | 21.69% |
RYVFX Royce Small-Cap Value Fund | 22.30% | 6.77% | 3.20% | 26.40% | -10.18% | 28.15% | -6.47% | 18.26% | -7.37% | 4.93% |
Correlation
The correlation between RYPNX and RYVFX is 0.80, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2002 | 0.91 |
The correlation between RYPNX and RYVFX shifts across timeframes, from 0.80 (1 year) to 0.92 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
RYPNX vs. RYVFX — Risk / Return Rank
RYPNX
RYVFX
RYPNX vs. RYVFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Opportunity Fund (RYPNX) and Royce Small-Cap Value Fund (RYVFX). 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.
| RYPNX | RYVFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.41 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.93 | 4.15 | -0.22 |
| Martin ratioReturn relative to average drawdown | 13.82 | 11.19 | +2.63 |
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Drawdowns
RYPNX vs. RYVFX - Drawdown Comparison
The maximum RYPNX drawdown since its inception was -69.31%, which is greater than RYVFX's maximum drawdown of -57.72%. Use the drawdown chart below to compare losses from any high point for RYPNX and RYVFX.
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Drawdown Indicators
| RYPNX | RYVFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.31% | -57.72% | -11.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.01% | -9.17% | -2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -30.23% | -28.20% | -2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -30.77% | -28.20% | -2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -50.61% | -48.56% | -2.05% |
Current DrawdownCurrent decline from peak | -5.08% | -0.50% | -4.58% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -9.74% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 3.40% | +0.01% |
Volatility
RYPNX vs. RYVFX - Volatility Comparison
Royce Opportunity Fund (RYPNX) has a higher volatility of 6.00% compared to Royce Small-Cap Value Fund (RYVFX) at 3.59%. This indicates that RYPNX's price experiences larger fluctuations and is considered to be riskier than RYVFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYPNX | RYVFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 3.59% | +2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.76% | 10.51% | +5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.17% | 16.54% | +5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.29% | 20.32% | +3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.33% | 22.39% | +2.94% |
RYPNX vs. RYVFX - Expense Ratio Comparison
RYPNX has a 1.21% expense ratio, which is lower than RYVFX's 1.49% expense ratio.
Dividends
RYPNX vs. RYVFX - Dividend Comparison
RYPNX's dividend yield for the trailing twelve months is around 7.58%, less than RYVFX's 8.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYPNX Royce Opportunity Fund | 7.58% | 9.63% | 7.95% | 4.52% | 5.12% | 22.51% | 0.00% | 1.57% | 10.21% | 14.91% | 6.89% | 10.04% |
RYVFX Royce Small-Cap Value Fund | 8.31% | 10.17% | 6.03% | 8.20% | 6.02% | 5.77% | 3.92% | 3.19% | 13.14% | 3.45% | 5.59% | 19.64% |
Frequently Asked Questions
RYPNX and RYVFX 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.
RYPNX has higher volatility (6.00%) compared to RYVFX (3.59%). In terms of maximum drawdown, RYPNX dropped -69.31% vs RYVFX's -57.72%.
RYVFX currently has the higher Sharpe Ratio (2.31 vs 2.13), 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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