RYPNX vs. TASCX
Compare and contrast key facts about Royce Opportunity Fund (RYPNX) and Third Avenue Small Cap Value Fund (TASCX).
RYPNX is managed by Royce Investment Partners. It was launched on Nov 19, 1996. TASCX is managed by Third Avenue. It was launched on Apr 1, 1997.
Performance
RYPNX vs. TASCX - Performance Comparison
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RYPNX vs. TASCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYPNX Royce Opportunity Fund | 3.47% | 11.95% | 10.20% | 19.72% | -17.19% | 30.34% | 26.52% | 28.24% | -20.10% | 21.69% |
TASCX Third Avenue Small Cap Value Fund | 6.59% | 14.79% | 3.04% | 22.49% | -1.87% | 25.92% | -2.96% | 22.92% | -12.55% | 8.89% |
Returns By Period
In the year-to-date period, RYPNX achieves a 3.47% return, which is significantly lower than TASCX's 6.59% return. Over the past 10 years, RYPNX has outperformed TASCX with an annualized return of 12.72%, while TASCX has yielded a comparatively lower 10.22% annualized return.
RYPNX
- 1D
- -1.74%
- 1M
- -7.96%
- YTD
- 3.47%
- 6M
- 5.36%
- 1Y
- 32.91%
- 3Y*
- 12.98%
- 5Y*
- 5.69%
- 10Y*
- 12.72%
TASCX
- 1D
- 0.00%
- 1M
- -3.17%
- YTD
- 6.59%
- 6M
- 11.59%
- 1Y
- 27.41%
- 3Y*
- 14.03%
- 5Y*
- 10.00%
- 10Y*
- 10.22%
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RYPNX vs. TASCX - Expense Ratio Comparison
RYPNX has a 1.21% expense ratio, which is higher than TASCX's 1.15% expense ratio.
Return for Risk
RYPNX vs. TASCX — Risk / Return Rank
RYPNX
TASCX
RYPNX vs. TASCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Opportunity Fund (RYPNX) and Third Avenue Small Cap Value Fund (TASCX). 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 | TASCX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 1.47 | -0.27 |
Sortino ratioReturn per unit of downside risk | 1.75 | 2.15 | -0.40 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.09 | -0.33 |
Martin ratioReturn relative to average drawdown | 6.74 | 8.93 | -2.20 |
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
| RYPNX | TASCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 1.47 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.39 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.42 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.46 | +0.05 |
Correlation
The correlation between RYPNX and TASCX is 0.87, 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
RYPNX vs. TASCX - Dividend Comparison
RYPNX's dividend yield for the trailing twelve months is around 9.31%, more than TASCX's 3.54% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYPNX Royce Opportunity Fund | 9.31% | 9.63% | 7.95% | 4.52% | 5.12% | 22.51% | 0.00% | 1.57% | 10.21% | 14.91% | 6.89% | 10.04% |
TASCX Third Avenue Small Cap Value Fund | 3.54% | 3.78% | 11.87% | 14.38% | 5.40% | 8.55% | 1.50% | 7.75% | 12.67% | 13.61% | 9.15% | 14.70% |
Drawdowns
RYPNX vs. TASCX - Drawdown Comparison
The maximum RYPNX drawdown since its inception was -69.31%, which is greater than TASCX's maximum drawdown of -58.55%. Use the drawdown chart below to compare losses from any high point for RYPNX and TASCX.
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Drawdown Indicators
| RYPNX | TASCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.31% | -58.55% | -10.76% |
Max Drawdown (1Y)Largest decline over 1 year | -16.05% | -12.12% | -3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -30.77% | -30.26% | -0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -50.61% | -40.45% | -10.16% |
Current DrawdownCurrent decline from peak | -9.29% | -4.60% | -4.69% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -8.66% | -2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 2.83% | +1.36% |
Volatility
RYPNX vs. TASCX - Volatility Comparison
Royce Opportunity Fund (RYPNX) has a higher volatility of 7.51% compared to Third Avenue Small Cap Value Fund (TASCX) at 3.87%. This indicates that RYPNX's price experiences larger fluctuations and is considered to be riskier than TASCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYPNX | TASCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.51% | 3.87% | +3.64% |
Volatility (6M)Calculated over the trailing 6-month period | 16.25% | 10.66% | +5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.08% | 18.59% | +8.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.25% | 25.47% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.28% | 24.17% | +1.11% |