RYPRX vs. DFAS

Last updated Jun 3, 2026

RYPRX (Royce Premier Fund) and DFAS (Dimensional U.S. Small Cap ETF) are both Small Cap Blend Equities funds. Over the past 3 years, RYPRX returned 11.99%/yr vs 15.54%/yr for DFAS. Their correlation of 0.95 suggests significant overlap in exposure. RYPRX charges 1.17%/yr vs 0.34%/yr for DFAS.

Performance

RYPRX vs. DFAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Premier Fund (RYPRX) and Dimensional U.S. Small Cap ETF (DFAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYPRX achieves a 14.95% return, which is significantly higher than DFAS's 13.73% return.

RYPRX

• 1D: -0.34%
• 1M: 1.72%
• YTD: 14.95%
• 6M: 15.60%
• 1Y: 27.89%
• 3Y*: 11.99%
• 5Y*: 6.23%
• 10Y*: 10.96%

DFAS

• 1D: 0.66%
• 1M: 2.28%
• YTD: 13.73%
• 6M: 14.66%
• 1Y: 30.61%
• 3Y*: 15.54%
• 5Y*: —
• 10Y*: —

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

RYPRX vs. DFAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RYPRX Royce Premier Fund	14.95%	5.74%	2.91%	22.76%	-15.67%	5.09%
DFAS Dimensional U.S. Small Cap ETF	13.73%	8.17%	10.21%	17.83%	-13.84%	4.94%

Correlation

The correlation between RYPRX and DFAS is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 15, 2021	0.95

The correlation between RYPRX and DFAS has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

RYPRX vs. DFAS — Risk / Return Rank

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

RYPRX

RYPRX Risk / Return Rank: 25
RYPRX Sharpe Ratio Rank: 26
RYPRX Sortino Ratio Rank: 30
RYPRX Omega Ratio Rank: 24
RYPRX Calmar Ratio Rank: 23
RYPRX Martin Ratio Rank: 22

DFAS

DFAS Risk / Return Rank: 57
DFAS Sharpe Ratio Rank: 53
DFAS Sortino Ratio Rank: 55
DFAS Omega Ratio Rank: 50
DFAS Calmar Ratio Rank: 64
DFAS Martin Ratio Rank: 61

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.

RYPRX vs. DFAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Premier Fund (RYPRX) and Dimensional U.S. Small Cap ETF (DFAS). 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.

	RYPRX	DFAS	Difference
Sharpe ratio Return per unit of total volatility	1.50	1.84	-0.34
Sortino ratio Return per unit of downside risk	2.31	2.68	-0.38
Omega ratio Gain probability vs. loss probability	1.26	1.32	-0.06
Calmar ratio Return relative to maximum drawdown	1.84	3.25	-1.40
Martin ratio Return relative to average drawdown	5.96	11.14	-5.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYPRX vs. DFAS - Sharpe Ratio Comparison

The current RYPRX Sharpe Ratio is 1.50, which is comparable to the DFAS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of RYPRX and DFAS, 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

	RYPRX	DFAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.84	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.37	+0.23

Drawdowns

RYPRX vs. DFAS - Drawdown Comparison

The maximum RYPRX drawdown since its inception was -51.47%, which is greater than DFAS's maximum drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for RYPRX and DFAS.

Drawdown Indicators

	RYPRX	DFAS	Difference
Max Drawdown Largest peak-to-trough decline	-51.47%	-26.13%	-25.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	-9.36%	-5.18%
Max Drawdown (3Y) Largest decline over 3 years	-26.14%	-26.13%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.30%	—	—
Current Drawdown Current decline from peak	-3.27%	0.00%	-3.27%
Average Drawdown Average peak-to-trough decline	-6.27%	-8.31%	+2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	2.73%	+1.77%

Volatility

RYPRX vs. DFAS - Volatility Comparison

Royce Premier Fund (RYPRX) has a higher volatility of 5.27% compared to Dimensional U.S. Small Cap ETF (DFAS) at 4.29%. This indicates that RYPRX's price experiences larger fluctuations and is considered to be riskier than DFAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYPRX	DFAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	4.29%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	13.62%	11.56%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	18.32%	16.75%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.91%	20.85%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.30%	20.85%	+0.45%

RYPRX vs. DFAS - Expense Ratio Comparison

RYPRX has a 1.17% expense ratio, which is higher than DFAS's 0.34% expense ratio.

Dividends

RYPRX vs. DFAS - Dividend Comparison

RYPRX's dividend yield for the trailing twelve months is around 10.48%, more than DFAS's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAS Dimensional U.S. Small Cap ETF	0.92%	0.99%	0.93%	1.00%	1.03%	2.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RYPRX Royce Premier Fund	10.48%	12.05%	9.52%	6.89%	9.00%	21.23%	5.55%	20.68%	29.26%	15.18%	13.42%	24.26%

Frequently Asked Questions

Can I hold both RYPRX and DFAS in my portfolio?

With a correlation of 0.92, RYPRX and DFAS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RYPRX or DFAS?

RYPRX has higher volatility (5.27%) compared to DFAS (4.29%). In terms of maximum drawdown, RYPRX dropped -51.47% vs DFAS's -26.13%.

Which has better risk-adjusted returns?

DFAS currently has the higher Sharpe Ratio (1.84 vs 1.50), 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.