TMDIX vs. GWMIX
TMDIX (AMG TimesSquare Mid Cap Growth Fund) and GWMIX (AMG GW&K Municipal Bond Fund) are both mutual funds - TMDIX is a Mid Cap Growth Equities fund managed by AMG, while GWMIX is a Municipal Bonds fund managed by AMG. Over the past 10 years, TMDIX returned 12.70%/yr vs 2.04%/yr for GWMIX. Their -0.07 correlation means they have often moved in opposite directions in the past. TMDIX charges 0.98%/yr vs 0.39%/yr for GWMIX.
Performance
TMDIX vs. GWMIX - Performance Comparison
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Returns By Period
In the year-to-date period, TMDIX achieves a 4.53% return, which is significantly higher than GWMIX's -0.64% return. Over the past 10 years, TMDIX has outperformed GWMIX with an annualized return of 12.70%, while GWMIX has yielded a comparatively lower 2.04% annualized return.
TMDIX
- 1D
- 2.45%
- 1M
- -3.41%
- 6M
- 5.22%
- YTD
- 4.53%
- 1Y
- -6.10%
- 3Y*
- 6.58%
- 5Y*
- 2.93%
- 10Y*
- 12.70%
- ALL TIME*
- 10.91%
GWMIX
- 1D
- -0.18%
- 1M
- -1.89%
- 6M
- -1.91%
- YTD
- -0.64%
- 1Y
- 4.47%
- 3Y*
- 2.77%
- 5Y*
- 1.17%
- 10Y*
- 2.04%
- ALL TIME*
- 3.39%
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 |
TMDIX vs. GWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMDIX AMG TimesSquare Mid Cap Growth Fund | 4.53% | -1.76% | 10.84% | 25.07% | -22.26% | 16.75% | 33.42% | 63.26% | -4.28% | 22.66% |
GWMIX AMG GW&K Municipal Bond Fund | -0.64% | 5.52% | 0.04% | 6.04% | -7.45% | 4.19% | 4.70% | 7.91% | 0.87% | 4.80% |
Correlation
The correlation between TMDIX and GWMIX is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | -0.07 |
The correlation between TMDIX and GWMIX shifts across timeframes, from -0.07 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TMDIX vs. GWMIX — Risk / Return Rank
TMDIX
GWMIX
TMDIX vs. GWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG TimesSquare Mid Cap Growth Fund (TMDIX) and AMG GW&K Municipal Bond Fund (GWMIX). 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 | GWMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.41 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 1.33 | -1.64 |
| Martin ratioReturn relative to average drawdown | -0.61 | 3.51 | -4.13 |
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Drawdowns
TMDIX vs. GWMIX - Drawdown Comparison
The maximum TMDIX drawdown since its inception was -48.73%, which is greater than GWMIX's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for TMDIX and GWMIX.
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Drawdown Indicators
| TMDIX | GWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.73% | -12.27% | -36.46% |
Max Drawdown (1Y)Largest decline over 1 year | -25.45% | -3.89% | -21.56% |
Max Drawdown (3Y)Largest decline over 3 years | -25.45% | -5.18% | -20.27% |
Max Drawdown (5Y)Largest decline over 5 years | -30.53% | -12.27% | -18.26% |
Max Drawdown (10Y)Largest decline over 10 years | -35.44% | -12.27% | -23.17% |
Current DrawdownCurrent decline from peak | -12.48% | -3.21% | -9.27% |
Average DrawdownAverage peak-to-trough decline | -7.19% | -1.98% | -5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.95% | 1.47% | +11.48% |
Volatility
TMDIX vs. GWMIX - Volatility Comparison
AMG TimesSquare Mid Cap Growth Fund (TMDIX) has a higher volatility of 4.81% compared to AMG GW&K Municipal Bond Fund (GWMIX) at 1.04%. This indicates that TMDIX's price experiences larger fluctuations and is considered to be riskier than GWMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMDIX | GWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 1.04% | +3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 14.06% | 2.43% | +11.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.64% | 2.89% | +17.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.59% | 4.16% | +16.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 4.00% | +17.11% |
TMDIX vs. GWMIX - Expense Ratio Comparison
TMDIX has a 0.98% expense ratio, which is higher than GWMIX's 0.39% expense ratio.
Dividends
TMDIX vs. GWMIX - Dividend Comparison
TMDIX has not paid dividends to shareholders, while GWMIX's dividend yield for the trailing twelve months is around 2.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | 2.55% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
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 GWMIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMDIX has higher volatility (4.81%) compared to GWMIX (1.04%). In terms of maximum drawdown, TMDIX dropped -48.73% vs GWMIX's -12.27%.
GWMIX currently has the higher Sharpe Ratio (1.79 vs -0.39), 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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