RYSEX vs. VRTVX

Last updated Jun 4, 2026

RYSEX (Royce Special Equity Fund) and VRTVX (Vanguard Russell 2000 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, RYSEX returned 8.89%/yr vs 10.48%/yr for VRTVX. Their correlation of 0.91 suggests significant overlap in exposure. RYSEX charges 1.20%/yr vs 0.08%/yr for VRTVX.

Performance

RYSEX vs. VRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Special Equity Fund (RYSEX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RYSEX having a 19.46% return and VRTVX slightly lower at 18.94%. Over the past 10 years, RYSEX has underperformed VRTVX with an annualized return of 8.89%, while VRTVX has yielded a comparatively higher 10.48% annualized return.

RYSEX

• 1D: 0.36%
• 1M: 9.11%
• YTD: 19.46%
• 6M: 19.97%
• 1Y: 34.54%
• 3Y*: 11.47%
• 5Y*: 7.28%
• 10Y*: 8.89%

VRTVX

• 1D: 0.95%
• 1M: 4.04%
• YTD: 18.94%
• 6M: 18.07%
• 1Y: 43.21%
• 3Y*: 18.32%
• 5Y*: 6.89%
• 10Y*: 10.48%

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

RYSEX vs. VRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYSEX Royce Special Equity Fund	19.46%	3.66%	2.93%	12.96%	-6.60%	22.24%	7.43%	12.73%	-9.96%	7.13%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	18.94%	12.21%	8.07%	14.71%	-14.52%	28.06%	4.81%	22.40%	-12.83%	7.91%

Correlation

The correlation between RYSEX and VRTVX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 23, 2010	0.91

The correlation between RYSEX and VRTVX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

RYSEX vs. VRTVX — Risk / Return Rank

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

RYSEX

RYSEX Risk / Return Rank: 75
RYSEX Sharpe Ratio Rank: 74
RYSEX Sortino Ratio Rank: 79
RYSEX Omega Ratio Rank: 59
RYSEX Calmar Ratio Rank: 89
RYSEX Martin Ratio Rank: 73

VRTVX

VRTVX Risk / Return Rank: 78
VRTVX Sharpe Ratio Rank: 77
VRTVX Sortino Ratio Rank: 73
VRTVX Omega Ratio Rank: 59
VRTVX Calmar Ratio Rank: 94
VRTVX Martin Ratio Rank: 90

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. VRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Special Equity Fund (RYSEX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). 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	VRTVX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.54	-0.06
Sortino ratio: Return per unit of downside risk	3.74	3.54	+0.19
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	4.44	5.34	-0.90
Martin ratio: Return relative to average drawdown	13.97	18.14	-4.17
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. VRTVX - Sharpe Ratio Comparison

The current RYSEX Sharpe Ratio is 2.49, which is comparable to the VRTVX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of RYSEX and VRTVX, 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

	RYSEX	VRTVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.54	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.32	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.44	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.48	+0.06

Drawdowns

RYSEX vs. VRTVX - Drawdown Comparison

The maximum RYSEX drawdown since its inception was -43.25%, smaller than the maximum VRTVX drawdown of -45.98%. Use the drawdown chart below to compare losses from any high point for RYSEX and VRTVX.

Drawdown Indicators

	RYSEX	VRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-43.25%	-45.98%	+2.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-8.54%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-23.03%	-26.85%	+3.82%
Max Drawdown (5Y) Largest decline over 5 years	-23.03%	-26.85%	+3.82%
Max Drawdown (10Y) Largest decline over 10 years	-32.13%	-45.98%	+13.85%
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-6.36%	-7.78%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.51%	+0.10%

Volatility

RYSEX vs. VRTVX - Volatility Comparison

The current volatility for Royce Special Equity Fund (RYSEX) is 4.44%, while Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) has a volatility of 4.90%. This indicates that RYSEX experiences smaller price fluctuations and is considered to be less risky than VRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYSEX	VRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	4.90%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	9.42%	11.98%	-2.56%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	17.95%	-3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.38%	21.67%	-5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	23.71%	-6.29%

RYSEX vs. VRTVX - Expense Ratio Comparison

RYSEX has a 1.20% expense ratio, which is higher than VRTVX's 0.08% expense ratio.

Dividends

RYSEX vs. VRTVX - Dividend Comparison

RYSEX's dividend yield for the trailing twelve months is around 10.34%, more than VRTVX's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYSEX Royce Special Equity Fund	10.34%	12.36%	16.35%	5.32%	12.34%	16.53%	3.70%	11.56%	13.11%	8.24%	7.72%	11.68%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	1.58%	1.49%	1.84%	2.08%	2.15%	1.56%	1.54%	1.87%	2.17%	1.74%	1.52%	2.16%

Frequently Asked Questions

Can I hold both RYSEX and VRTVX in my portfolio?

RYSEX and VRTVX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYSEX or VRTVX?

VRTVX has higher volatility (4.90%) compared to RYSEX (4.44%). In terms of maximum drawdown, RYSEX dropped -43.25% vs VRTVX's -45.98%.

Which has better risk-adjusted returns?

VRTVX currently has the higher Sharpe Ratio (2.54 vs 2.49), 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.