RYVFX vs. DFEMX
RYVFX (Royce Small-Cap Value Fund) and DFEMX (DFA Emerging Markets Portfolio) are both mutual funds - RYVFX is a Small Cap Value Equities fund managed by Royce Investment Partners, while DFEMX is a Emerging Markets Equities fund managed by Dimensional. Over the past 10 years, RYVFX returned 8.87%/yr vs 9.27%/yr for DFEMX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. RYVFX charges 1.49%/yr vs 0.36%/yr for DFEMX.
Performance
RYVFX vs. DFEMX - Performance Comparison
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Returns By Period
In the year-to-date period, RYVFX achieves a 21.07% return, which is significantly higher than DFEMX's 17.07% return. Both investments have delivered pretty close results over the past 10 years, with RYVFX having a 8.87% annualized return and DFEMX not far ahead at 9.27%.
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%
DFEMX
- 1D
- 3.65%
- 1M
- -4.00%
- 6M
- 8.21%
- YTD
- 17.07%
- 1Y
- 35.53%
- 3Y*
- 18.43%
- 5Y*
- 9.18%
- 10Y*
- 9.27%
- ALL TIME*
- 7.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RYVFX vs. DFEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYVFX Royce Small-Cap Value Fund | 21.07% | 6.77% | 3.20% | 26.40% | -10.18% | 28.15% | -6.47% | 18.26% | -7.37% | 4.93% |
DFEMX DFA Emerging Markets Portfolio | 17.07% | 33.57% | 6.90% | 13.08% | -16.91% | 2.53% | 13.89% | 16.02% | -13.62% | 36.57% |
Correlation
The correlation between RYVFX and DFEMX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2002 | 0.62 |
Over the past year, the correlation between RYVFX and DFEMX has dropped to 0.32 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
RYVFX vs. DFEMX — Risk / Return Rank
RYVFX
DFEMX
RYVFX vs. DFEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Small-Cap Value Fund (RYVFX) and DFA Emerging Markets Portfolio (DFEMX). 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 | DFEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 2.33 | +1.32 |
| Martin ratioReturn relative to average drawdown | 9.82 | 7.75 | +2.08 |
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Drawdowns
RYVFX vs. DFEMX - Drawdown Comparison
The maximum RYVFX drawdown since its inception was -57.72%, smaller than the maximum DFEMX drawdown of -62.43%. Use the drawdown chart below to compare losses from any high point for RYVFX and DFEMX.
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Drawdown Indicators
| RYVFX | DFEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.72% | -62.43% | +4.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.17% | -14.29% | +5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -28.20% | -16.12% | -12.08% |
Max Drawdown (5Y)Largest decline over 5 years | -28.20% | -29.53% | +1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -48.56% | -40.44% | -8.12% |
Current DrawdownCurrent decline from peak | -1.51% | -11.16% | +9.65% |
Average DrawdownAverage peak-to-trough decline | -9.74% | -15.29% | +5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 4.28% | -0.88% |
Volatility
RYVFX vs. DFEMX - Volatility Comparison
The current volatility for Royce Small-Cap Value Fund (RYVFX) is 3.54%, while DFA Emerging Markets Portfolio (DFEMX) has a volatility of 9.34%. This indicates that RYVFX experiences smaller price fluctuations and is considered to be less risky than DFEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYVFX | DFEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 9.34% | -5.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 20.34% | -9.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.70% | 21.83% | -5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 16.81% | +3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.39% | 17.01% | +5.38% |
RYVFX vs. DFEMX - Expense Ratio Comparison
RYVFX has a 1.49% expense ratio, which is higher than DFEMX's 0.36% expense ratio.
Dividends
RYVFX vs. DFEMX - Dividend Comparison
RYVFX's dividend yield for the trailing twelve months is around 8.40%, more than DFEMX's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEMX DFA Emerging Markets Portfolio | 2.09% | 2.55% | 3.14% | 3.34% | 3.90% | 6.13% | 1.45% | 2.33% | 2.14% | 1.74% | 1.92% | 2.08% |
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
RYVFX and DFEMX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEMX has higher volatility (9.34%) compared to RYVFX (3.54%). In terms of maximum drawdown, RYVFX dropped -57.72% vs DFEMX's -62.43%.
RYVFX currently has the higher Sharpe Ratio (2.01 vs 1.53), 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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