TMDIX vs. ARSMX
TMDIX (AMG TimesSquare Mid Cap Growth Fund) and ARSMX (AMG River Road Small-Mid Cap Value Fund) are both mutual funds - TMDIX is a Mid Cap Growth Equities fund managed by AMG, while ARSMX is a Small Cap Value Equities fund managed by AMG. Over the past 10 years, TMDIX returned 13.15%/yr vs 9.92%/yr for ARSMX. Their correlation of 0.82 suggests significant overlap in exposure. TMDIX charges 0.98%/yr vs 1.27%/yr for ARSMX.
Performance
TMDIX vs. ARSMX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TMDIX having a 7.57% return and ARSMX slightly higher at 7.66%. Over the past 10 years, TMDIX has outperformed ARSMX with an annualized return of 13.15%, while ARSMX has yielded a comparatively lower 9.92% annualized return.
TMDIX
- 1D
- -0.88%
- 1M
- 3.14%
- 6M
- 4.09%
- YTD
- 7.57%
- 1Y
- -2.17%
- 3Y*
- 8.14%
- 5Y*
- 3.64%
- 10Y*
- 13.15%
ARSMX
- 1D
- 0.69%
- 1M
- 3.64%
- 6M
- 3.74%
- YTD
- 7.66%
- 1Y
- 3.53%
- 3Y*
- 9.15%
- 5Y*
- 5.84%
- 10Y*
- 9.92%
TMDIX vs. ARSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMDIX AMG TimesSquare Mid Cap Growth Fund | 7.57% | -1.76% | 10.84% | 25.07% | -22.26% | 16.75% | 33.42% | 63.26% | -4.28% | 22.66% |
ARSMX AMG River Road Small-Mid Cap Value Fund | 7.66% | -0.83% | 12.42% | 14.48% | -8.62% | 23.41% | 1.71% | 34.82% | -6.44% | 15.26% |
Correlation
The correlation between TMDIX and ARSMX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.82 |
Over the past year, the correlation between TMDIX and ARSMX has dropped to 0.62 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
TMDIX vs. ARSMX — Risk / Return Rank
TMDIX
ARSMX
TMDIX vs. ARSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG TimesSquare Mid Cap Growth Fund (TMDIX) 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.
| TMDIX | ARSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.04 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.25 | -0.38 |
| Martin ratioReturn relative to average drawdown | -0.25 | 0.58 | -0.83 |
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Drawdowns
TMDIX vs. ARSMX - Drawdown Comparison
The maximum TMDIX drawdown since its inception was -48.73%, smaller than the maximum ARSMX drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for TMDIX and ARSMX.
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Drawdown Indicators
| TMDIX | ARSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.73% | -51.75% | +3.02% |
Max Drawdown (1Y)Largest decline over 1 year | -25.45% | -10.37% | -15.08% |
Max Drawdown (3Y)Largest decline over 3 years | -25.45% | -19.34% | -6.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.53% | -19.34% | -11.19% |
Max Drawdown (10Y)Largest decline over 10 years | -35.44% | -42.96% | +7.52% |
Current DrawdownCurrent decline from peak | -9.93% | -0.41% | -9.52% |
Average DrawdownAverage peak-to-trough decline | -7.17% | -8.08% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.64% | 4.49% | +8.15% |
Volatility
TMDIX vs. ARSMX - Volatility Comparison
AMG TimesSquare Mid Cap Growth Fund (TMDIX) has a higher volatility of 5.94% compared to AMG River Road Small-Mid Cap Value Fund (ARSMX) at 3.70%. This indicates that TMDIX'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
| TMDIX | ARSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 3.70% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 9.13% | +4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.41% | 14.45% | +5.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.55% | 17.74% | +2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.08% | 19.49% | +1.59% |
TMDIX vs. ARSMX - Expense Ratio Comparison
TMDIX has a 0.98% expense ratio, which is lower than ARSMX's 1.27% expense ratio.
Dividends
TMDIX vs. ARSMX - Dividend Comparison
Neither TMDIX nor ARSMX has 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% |
TMDIX AMG TimesSquare Mid Cap Growth Fund | 0.00% | 0.00% | 8.08% | 3.98% | 3.69% | 29.72% | 18.28% | 31.06% | 16.38% | 14.44% | 5.90% | 7.73% |
Frequently Asked Questions
TMDIX and ARSMX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMDIX has higher volatility (5.94%) compared to ARSMX (3.70%). In terms of maximum drawdown, TMDIX dropped -48.73% vs ARSMX's -51.75%.
ARSMX currently has the higher Sharpe Ratio (0.18 vs -0.15), 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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