SMEAX vs. RYOTX
Compare and contrast key facts about Invesco Small Cap Equity Fund Class A (SMEAX) and Royce Micro Cap Series Fund (RYOTX).
SMEAX is managed by Invesco. It was launched on Aug 31, 2000. RYOTX is managed by Royce Investment Partners. It was launched on Dec 31, 1991.
Performance
SMEAX vs. RYOTX - Performance Comparison
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SMEAX vs. RYOTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMEAX Invesco Small Cap Equity Fund Class A | -5.14% | 7.84% | 17.80% | 15.95% | -20.62% | 19.62% | 27.25% | 26.05% | -15.42% | 13.59% |
RYOTX Royce Micro Cap Series Fund | 6.06% | 13.51% | 13.24% | 19.51% | -22.66% | 30.36% | 24.56% | 21.19% | -9.09% | 5.29% |
Returns By Period
In the year-to-date period, SMEAX achieves a -5.14% return, which is significantly lower than RYOTX's 6.06% return. Over the past 10 years, SMEAX has underperformed RYOTX with an annualized return of 8.47%, while RYOTX has yielded a comparatively higher 11.13% annualized return.
SMEAX
- 1D
- -2.22%
- 1M
- -10.78%
- YTD
- -5.14%
- 6M
- -5.53%
- 1Y
- 9.81%
- 3Y*
- 9.72%
- 5Y*
- 3.23%
- 10Y*
- 8.47%
RYOTX
- 1D
- -1.84%
- 1M
- -8.37%
- YTD
- 6.06%
- 6M
- 8.18%
- 1Y
- 41.43%
- 3Y*
- 16.69%
- 5Y*
- 6.90%
- 10Y*
- 11.13%
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SMEAX vs. RYOTX - Expense Ratio Comparison
SMEAX has a 1.22% expense ratio, which is higher than RYOTX's 1.20% expense ratio.
Return for Risk
SMEAX vs. RYOTX — Risk / Return Rank
SMEAX
RYOTX
SMEAX vs. RYOTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Small Cap Equity Fund Class A (SMEAX) and Royce Micro Cap Series Fund (RYOTX). 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.
| SMEAX | RYOTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.44 | 1.53 | -1.09 |
Sortino ratioReturn per unit of downside risk | 0.76 | 2.14 | -1.38 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.27 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 0.54 | 2.67 | -2.13 |
Martin ratioReturn relative to average drawdown | 1.83 | 9.42 | -7.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMEAX | RYOTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.53 | -1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.30 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.49 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.58 | -0.26 |
Correlation
The correlation between SMEAX and RYOTX is 0.91, 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
SMEAX vs. RYOTX - Dividend Comparison
SMEAX's dividend yield for the trailing twelve months is around 9.85%, less than RYOTX's 14.09% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMEAX Invesco Small Cap Equity Fund Class A | 9.85% | 9.34% | 8.09% | 0.40% | 2.95% | 19.02% | 6.03% | 11.18% | 18.53% | 5.38% | 5.38% | 6.51% |
RYOTX Royce Micro Cap Series Fund | 14.09% | 14.94% | 12.20% | 6.97% | 5.10% | 23.10% | 7.40% | 2.72% | 13.95% | 7.76% | 11.41% | 12.99% |
Drawdowns
SMEAX vs. RYOTX - Drawdown Comparison
The maximum SMEAX drawdown since its inception was -56.69%, roughly equal to the maximum RYOTX drawdown of -56.86%. Use the drawdown chart below to compare losses from any high point for SMEAX and RYOTX.
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Drawdown Indicators
| SMEAX | RYOTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.69% | -56.86% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -13.59% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -31.42% | -35.84% | +4.42% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -44.87% | -0.14% |
Current DrawdownCurrent decline from peak | -13.43% | -9.85% | -3.58% |
Average DrawdownAverage peak-to-trough decline | -10.47% | -9.47% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 3.85% | +0.17% |
Volatility
SMEAX vs. RYOTX - Volatility Comparison
Invesco Small Cap Equity Fund Class A (SMEAX) and Royce Micro Cap Series Fund (RYOTX) have volatilities of 8.73% and 8.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMEAX | RYOTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.73% | 8.66% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 17.38% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.47% | 26.43% | -2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 23.36% | -1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 23.01% | 0.00% |