RYVFX vs. AVUV
RYVFX (Royce Small-Cap Value Fund) and AVUV (Avantis US Small Cap Value ETF) are both Small Cap Value Equities funds. Over the past 5 years, RYVFX returned 9.87%/yr vs 13.16%/yr for AVUV. Their 0.95 correlation means they have historically moved very closely together. RYVFX charges 1.49%/yr vs 0.25%/yr for AVUV.
Performance
RYVFX vs. AVUV - Performance Comparison
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Returns By Period
In the year-to-date period, RYVFX achieves a 21.07% return, which is significantly lower than AVUV's 23.62% return.
RYVFX
- 1D
- -0.67%
- 1M
- 1.20%
- 6M
- 15.26%
- YTD
- 21.07%
- 1Y
- 36.49%
- 3Y*
- 13.88%
- 5Y*
- 9.87%
- 10Y*
- 8.87%
- ALL TIME*
- 8.58%
AVUV
- 1D
- 0.03%
- 1M
- 1.43%
- 6M
- 15.37%
- YTD
- 23.62%
- 1Y
- 40.65%
- 3Y*
- 16.14%
- 5Y*
- 13.16%
- 10Y*
- —
- ALL TIME*
- 16.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $143.14M | $148.43M | $155.85M | |
| $0.00 | $0.00 | $0.00 |
RYVFX vs. AVUV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RYVFX Royce Small-Cap Value Fund | 21.07% | 6.77% | 3.20% | 26.40% | -10.18% | 28.15% | -6.47% | 5.59% |
AVUV Avantis US Small Cap Value ETF | 23.62% | 7.44% | 9.28% | 22.82% | -4.91% | 42.20% | 6.43% | 8.54% |
Correlation
The correlation between RYVFX and AVUV is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.95 |
The correlation between RYVFX and AVUV has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
RYVFX vs. AVUV — Risk / Return Rank
RYVFX
AVUV
RYVFX vs. AVUV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Small-Cap Value Fund (RYVFX) 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.
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 | AVUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.40 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 4.74 | -1.10 |
| Martin ratioReturn relative to average drawdown | 9.82 | 14.98 | -5.16 |
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Drawdowns
RYVFX vs. AVUV - Drawdown Comparison
The maximum RYVFX drawdown since its inception was -57.72%, which is greater than AVUV's maximum drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for RYVFX and AVUV.
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Drawdown Indicators
| RYVFX | AVUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.72% | -49.42% | -8.30% |
Max Drawdown (1Y)Largest decline over 1 year | -9.17% | -7.95% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -28.20% | -28.79% | +0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -28.20% | -28.79% | +0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -48.56% | — | — |
Current DrawdownCurrent decline from peak | -1.51% | -0.72% | -0.79% |
Average DrawdownAverage peak-to-trough decline | -9.74% | -7.78% | -1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 2.52% | +0.88% |
Volatility
RYVFX vs. AVUV - Volatility Comparison
Royce Small-Cap Value Fund (RYVFX) has a higher volatility of 3.54% compared to Avantis US Small Cap Value ETF (AVUV) at 2.88%. This indicates that RYVFX's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYVFX | AVUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 2.88% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 10.51% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.70% | 16.90% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 22.40% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.39% | 28.02% | -5.63% |
RYVFX vs. AVUV - Expense Ratio Comparison
RYVFX has a 1.49% expense ratio, which is higher than AVUV's 0.25% expense ratio.
Dividends
RYVFX vs. AVUV - Dividend Comparison
RYVFX's dividend yield for the trailing twelve months is around 8.40%, more than AVUV's 1.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVUV Avantis US Small Cap Value ETF | 1.25% | 1.58% | 1.61% | 1.65% | 1.74% | 1.28% | 1.21% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% |
RYVFX Royce Small-Cap Value Fund | 8.40% | 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
With a correlation of 0.91, RYVFX and AVUV 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.
RYVFX has higher volatility (3.54%) compared to AVUV (2.88%). In terms of maximum drawdown, RYVFX dropped -57.72% vs AVUV's -49.42%.
AVUV currently has the higher Sharpe Ratio (2.24 vs 2.01), 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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