SMVSX vs. RYSEX
SMVSX (Invesco Small Cap Value Fund Class R6) and RYSEX (Royce Special Equity Fund) are both Small Cap Value Equities funds. Over the past 5 years, SMVSX returned 19.98%/yr vs 9.15%/yr for RYSEX. Their correlation of 0.81 means they have usually moved in the same direction. SMVSX charges 0.72%/yr vs 1.20%/yr for RYSEX.
Performance
SMVSX vs. RYSEX - Performance Comparison
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Returns By Period
In the year-to-date period, SMVSX achieves a 21.87% return, which is significantly lower than RYSEX's 27.23% return.
SMVSX
- 1D
- 2.73%
- 1M
- -4.62%
- 6M
- 10.52%
- YTD
- 21.87%
- 1Y
- 43.67%
- 3Y*
- 24.48%
- 5Y*
- 19.98%
- 10Y*
- —
- ALL TIME*
- 15.53%
RYSEX
- 1D
- -1.82%
- 1M
- 4.02%
- 6M
- 18.92%
- YTD
- 27.23%
- 1Y
- 42.08%
- 3Y*
- 11.95%
- 5Y*
- 9.15%
- 10Y*
- 9.26%
- ALL TIME*
- 9.42%
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 |
SMVSX vs. RYSEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMVSX Invesco Small Cap Value Fund Class R6 | 21.87% | 18.12% | 25.01% | 23.40% | 4.70% | 36.84% | 11.30% | 32.52% | -25.30% | 11.88% |
RYSEX Royce Special Equity Fund | 27.23% | 3.66% | 2.93% | 12.96% | -6.60% | 22.24% | 7.43% | 12.73% | -9.96% | 11.06% |
Correlation
The correlation between SMVSX and RYSEX is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017 | 0.81 |
Over the past year, the correlation between SMVSX and RYSEX has dropped to 0.50 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
SMVSX vs. RYSEX — Risk / Return Rank
SMVSX
RYSEX
SMVSX vs. RYSEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Small Cap Value Fund Class R6 (SMVSX) and Royce Special Equity Fund (RYSEX). 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.
| SMVSX | RYSEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.46 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 4.63 | -1.32 |
| Martin ratioReturn relative to average drawdown | 10.41 | 15.56 | -5.15 |
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Drawdowns
SMVSX vs. RYSEX - Drawdown Comparison
The maximum SMVSX drawdown since its inception was -57.41%, which is greater than RYSEX's maximum drawdown of -43.25%. Use the drawdown chart below to compare losses from any high point for SMVSX and RYSEX.
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Drawdown Indicators
| SMVSX | RYSEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.41% | -43.25% | -14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -8.20% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -25.23% | -23.03% | -2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -25.23% | -23.03% | -2.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.13% | — |
Current DrawdownCurrent decline from peak | -9.69% | -2.25% | -7.44% |
Average DrawdownAverage peak-to-trough decline | -8.50% | -6.32% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 2.45% | +1.39% |
Volatility
SMVSX vs. RYSEX - Volatility Comparison
Invesco Small Cap Value Fund Class R6 (SMVSX) has a higher volatility of 7.93% compared to Royce Special Equity Fund (RYSEX) at 4.86%. This indicates that SMVSX's price experiences larger fluctuations and is considered to be riskier than RYSEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMVSX | RYSEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.93% | 4.86% | +3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 18.52% | 9.81% | +8.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.31% | 14.53% | +8.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.44% | 16.41% | +7.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.10% | 17.42% | +9.68% |
SMVSX vs. RYSEX - Expense Ratio Comparison
SMVSX has a 0.72% expense ratio, which is lower than RYSEX's 1.20% expense ratio.
Dividends
SMVSX vs. RYSEX - Dividend Comparison
SMVSX's dividend yield for the trailing twelve months is around 7.01%, less than RYSEX's 9.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYSEX Royce Special Equity Fund | 9.71% | 12.36% | 16.35% | 5.32% | 12.34% | 16.53% | 3.70% | 11.56% | 13.11% | 8.24% | 7.72% | 11.68% |
SMVSX Invesco Small Cap Value Fund Class R6 | 7.01% | 8.54% | 7.42% | 4.78% | 9.57% | 15.80% | 0.48% | 2.36% | 26.72% | 15.91% | 0.00% | 0.00% |
Frequently Asked Questions
SMVSX and RYSEX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMVSX has higher volatility (7.93%) compared to RYSEX (4.86%). In terms of maximum drawdown, SMVSX dropped -57.41% vs RYSEX's -43.25%.
RYSEX currently has the higher Sharpe Ratio (2.62 vs 1.72), 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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