RYSEX vs. AVUV

Last updated Apr 2, 2026

Compare and contrast key facts about Royce Special Equity Fund (RYSEX) and Avantis US Small Cap Value ETF (AVUV).

RYSEX is managed by Royce Investment Partners. It was launched on May 1, 1998. AVUV is a passively managed fund by Avantis that tracks the performance of the Russell 2000 Value. It was launched on Sep 24, 2019.

Performance

RYSEX vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Special Equity Fund (RYSEX) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

RYSEX vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RYSEX Royce Special Equity Fund	4.13%	3.66%	2.93%	12.96%	-6.60%	22.24%	7.43%	8.02%
AVUV Avantis US Small Cap Value ETF	8.80%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.50%

Returns By Period

In the year-to-date period, RYSEX achieves a 4.13% return, which is significantly lower than AVUV's 8.80% return.

RYSEX

• 1D: 0.76%
• 1M: -3.12%
• YTD: 4.13%
• 6M: 6.06%
• 1Y: 17.87%
• 3Y*: 6.67%
• 5Y*: 4.40%
• 10Y*: 7.66%

AVUV

• 1D: 0.18%
• 1M: -2.36%
• YTD: 8.80%
• 6M: 11.45%
• 1Y: 28.45%
• 3Y*: 16.26%
• 5Y*: 10.42%
• 10Y*: —

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

RYSEX vs. AVUV - Expense Ratio Comparison

RYSEX has a 1.20% expense ratio, which is higher than AVUV's 0.25% expense ratio.

RYSEX

Royce Special Equity Fund

AVUV

Avantis US Small Cap Value ETF

Return for Risk

RYSEX vs. AVUV — Risk / Return Rank

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

RYSEX

RYSEX Risk / Return Rank: 54
RYSEX Sharpe Ratio Rank: 50
RYSEX Sortino Ratio Rank: 58
RYSEX Omega Ratio Rank: 43
RYSEX Calmar Ratio Rank: 66
RYSEX Martin Ratio Rank: 52

AVUV

AVUV Risk / Return Rank: 69
AVUV Sharpe Ratio Rank: 67
AVUV Sortino Ratio Rank: 69
AVUV Omega Ratio Rank: 66
AVUV Calmar Ratio Rank: 71
AVUV Martin Ratio Rank: 70

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.

RYSEX vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Special Equity Fund (RYSEX) and Avantis US Small Cap Value ETF (AVUV). 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.

	RYSEX	AVUV	Difference
Sharpe ratio Return per unit of total volatility	1.03	1.22	-0.19
Sortino ratio Return per unit of downside risk	1.61	1.78	-0.17
Omega ratio Gain probability vs. loss probability	1.20	1.25	-0.05
Calmar ratio Return relative to maximum drawdown	1.65	1.88	-0.22
Martin ratio Return relative to average drawdown	5.46	7.40	-1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYSEX vs. AVUV - Sharpe Ratio Comparison

The current RYSEX Sharpe Ratio is 1.03, which is comparable to the AVUV Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of RYSEX and AVUV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RYSEX	AVUV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.22	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.46	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.52	0.00

Correlation

The correlation between RYSEX and AVUV is 0.90, 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

RYSEX vs. AVUV - Dividend Comparison

RYSEX's dividend yield for the trailing twelve months is around 11.87%, more than AVUV's 1.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYSEX Royce Special Equity Fund	11.87%	12.36%	16.35%	5.32%	12.34%	16.53%	3.70%	11.56%	13.11%	8.24%	7.72%	11.68%
AVUV Avantis US Small Cap Value ETF	1.40%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%

Drawdowns

RYSEX vs. AVUV - Drawdown Comparison

The maximum RYSEX drawdown since its inception was -43.25%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for RYSEX and AVUV.

Drawdown Indicators

	RYSEX	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-43.25%	-49.42%	+6.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.97%	-15.43%	+4.46%
Max Drawdown (5Y) Largest decline over 5 years	-23.03%	-28.79%	+5.76%
Max Drawdown (10Y) Largest decline over 10 years	-32.13%	—	—
Current Drawdown Current decline from peak	-5.62%	-3.97%	-1.65%
Average Drawdown Average peak-to-trough decline	-6.39%	-8.14%	+1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.91%	-0.59%

Volatility

RYSEX vs. AVUV - Volatility Comparison

The current volatility for Royce Special Equity Fund (RYSEX) is 3.54%, while Avantis US Small Cap Value ETF (AVUV) has a volatility of 5.41%. This indicates that RYSEX experiences smaller price fluctuations and is considered to be less risky than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYSEX	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	5.41%	-1.87%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	13.10%	-3.44%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	23.46%	-5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	22.95%	-6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.40%	28.59%	-11.19%