RYVFX vs. ARSMX
RYVFX (Royce Small-Cap Value Fund) and ARSMX (AMG River Road Small-Mid Cap Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, RYVFX returned 9.29%/yr vs 9.82%/yr for ARSMX. Their correlation of 0.90 suggests significant overlap in exposure. RYVFX charges 1.49%/yr vs 1.27%/yr for ARSMX.
Performance
RYVFX vs. ARSMX - Performance Comparison
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Returns By Period
In the year-to-date period, RYVFX achieves a 18.40% return, which is significantly higher than ARSMX's 2.31% return. Over the past 10 years, RYVFX has underperformed ARSMX with an annualized return of 9.29%, while ARSMX has yielded a comparatively higher 9.82% annualized return.
RYVFX
- 1D
- 0.09%
- 1M
- 3.97%
- YTD
- 18.40%
- 6M
- 16.13%
- 1Y
- 35.48%
- 3Y*
- 16.49%
- 5Y*
- 9.28%
- 10Y*
- 9.29%
ARSMX
- 1D
- -0.41%
- 1M
- 1.99%
- YTD
- 2.31%
- 6M
- 0.93%
- 1Y
- 1.88%
- 3Y*
- 9.21%
- 5Y*
- 4.70%
- 10Y*
- 9.82%
RYVFX vs. ARSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYVFX Royce Small-Cap Value Fund | 18.40% | 6.77% | 3.20% | 26.40% | -10.18% | 28.15% | -6.47% | 18.26% | -7.37% | 4.93% |
ARSMX AMG River Road Small-Mid Cap Value Fund | 2.31% | -0.83% | 12.42% | 14.48% | -8.62% | 23.41% | 1.71% | 34.82% | -6.44% | 15.26% |
Correlation
The correlation between RYVFX and ARSMX 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 | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.90 |
The correlation between RYVFX and ARSMX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
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Return for Risk
RYVFX vs. ARSMX — Risk / Return Rank
RYVFX
ARSMX
RYVFX vs. ARSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Small-Cap Value Fund (RYVFX) and AMG River Road Small-Mid Cap Value Fund (ARSMX). 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.
| RYVFX | ARSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.05 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | 0.31 | +3.74 |
| Martin ratioReturn relative to average drawdown | 10.68 | 0.71 | +9.97 |
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Drawdowns
RYVFX vs. ARSMX - Drawdown Comparison
The maximum RYVFX drawdown since its inception was -57.72%, which is greater than ARSMX's maximum drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for RYVFX and ARSMX.
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Drawdown Indicators
| RYVFX | ARSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.72% | -51.75% | -5.97% |
Max Drawdown (1Y)Largest decline over 1 year | -9.17% | -10.37% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -28.20% | -19.34% | -8.86% |
Max Drawdown (5Y)Largest decline over 5 years | -28.20% | -19.34% | -8.86% |
Max Drawdown (10Y)Largest decline over 10 years | -48.56% | -42.96% | -5.60% |
Current DrawdownCurrent decline from peak | -1.71% | -5.36% | +3.65% |
Average DrawdownAverage peak-to-trough decline | -9.78% | -8.10% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 4.48% | -1.01% |
Volatility
RYVFX vs. ARSMX - Volatility Comparison
Royce Small-Cap Value Fund (RYVFX) has a higher volatility of 3.62% compared to AMG River Road Small-Mid Cap Value Fund (ARSMX) at 3.05%. This indicates that RYVFX's price experiences larger fluctuations and is considered to be riskier than ARSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYVFX | ARSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.62% | 3.05% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.04% | 10.27% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.46% | 14.45% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.43% | 17.76% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.48% | 19.58% | +2.90% |
RYVFX vs. ARSMX - Expense Ratio Comparison
RYVFX has a 1.49% expense ratio, which is higher than ARSMX's 1.27% expense ratio.
Dividends
RYVFX vs. ARSMX - Dividend Comparison
RYVFX's dividend yield for the trailing twelve months is around 8.59%, while ARSMX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARSMX AMG River Road Small-Mid Cap Value Fund | 0.00% | 0.00% | 9.27% | 3.89% | 4.85% | 5.86% | 0.00% | 3.60% | 8.60% | 15.66% | 8.03% | 17.82% |
RYVFX Royce Small-Cap Value Fund | 8.59% | 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
RYVFX and ARSMX 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.
RYVFX has higher volatility (3.62%) compared to ARSMX (3.05%). In terms of maximum drawdown, RYVFX dropped -57.72% vs ARSMX's -51.75%.
RYVFX currently has the higher Sharpe Ratio (2.13 vs 0.22), 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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