VSMVX vs. ARSMX
VSMVX (Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares) and ARSMX (AMG River Road Small-Mid Cap Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, VSMVX returned 10.18%/yr vs 10.18%/yr for ARSMX. Their correlation of 0.91 means they have usually moved in the same direction. VSMVX charges 0.08%/yr vs 1.27%/yr for ARSMX.
Performance
VSMVX vs. ARSMX - Performance Comparison
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Returns By Period
In the year-to-date period, VSMVX achieves a 20.21% return, which is significantly higher than ARSMX's 10.49% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: VSMVX at 10.18% and ARSMX at 10.18%.
VSMVX
- 1D
- 0.00%
- 1M
- 0.29%
- 6M
- 12.92%
- YTD
- 20.21%
- 1Y
- 39.48%
- 3Y*
- 12.36%
- 5Y*
- 8.02%
- 10Y*
- 10.18%
- ALL TIME*
- 11.29%
ARSMX
- 1D
- -1.31%
- 1M
- 2.53%
- 6M
- 8.11%
- YTD
- 10.49%
- 1Y
- 9.57%
- 3Y*
- 9.29%
- 5Y*
- 6.50%
- 10Y*
- 10.18%
- ALL TIME*
- 7.70%
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 |
VSMVX vs. ARSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares | 20.21% | 6.38% | 7.53% | 14.85% | -11.12% | 30.85% | 2.79% | 24.47% | -12.67% | 11.64% |
ARSMX AMG River Road Small-Mid Cap Value Fund | 10.49% | -0.83% | 12.42% | 14.48% | -8.62% | 23.41% | 1.71% | 34.82% | -6.44% | 15.26% |
Correlation
The correlation between VSMVX and ARSMX is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2012 | 0.91 |
The correlation between VSMVX and ARSMX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
VSMVX vs. ARSMX — Risk / Return Rank
VSMVX
ARSMX
VSMVX vs. ARSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) 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.
| VSMVX | ARSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.10 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | 0.71 | +3.13 |
| Martin ratioReturn relative to average drawdown | 13.25 | 1.64 | +11.62 |
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Drawdowns
VSMVX vs. ARSMX - Drawdown Comparison
The maximum VSMVX drawdown since its inception was -47.61%, smaller than the maximum ARSMX drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for VSMVX and ARSMX.
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Drawdown Indicators
| VSMVX | ARSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.61% | -51.75% | +4.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -10.37% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -28.81% | -19.34% | -9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -28.81% | -19.34% | -9.47% |
Max Drawdown (10Y)Largest decline over 10 years | -47.61% | -42.96% | -4.65% |
Current DrawdownCurrent decline from peak | -1.61% | -1.59% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -8.06% | +0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 4.47% | -1.77% |
Volatility
VSMVX vs. ARSMX - Volatility Comparison
The current volatility for Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) is 3.51%, while AMG River Road Small-Mid Cap Value Fund (ARSMX) has a volatility of 4.05%. This indicates that VSMVX experiences smaller price fluctuations and is considered to be less risky 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
| VSMVX | ARSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 4.05% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 11.21% | 9.15% | +2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 14.41% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.76% | 17.71% | +4.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.07% | 19.51% | +4.56% |
VSMVX vs. ARSMX - Expense Ratio Comparison
VSMVX has a 0.08% expense ratio, which is lower than ARSMX's 1.27% expense ratio.
Dividends
VSMVX vs. ARSMX - Dividend Comparison
VSMVX's dividend yield for the trailing twelve months is around 1.74%, while ARSMX has not 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% |
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares | 1.74% | 1.45% | 1.85% | 1.92% | 1.88% | 1.66% | 1.46% | 1.65% | 1.89% | 1.55% | 1.26% | 1.42% |
Frequently Asked Questions
VSMVX and ARSMX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARSMX has higher volatility (4.05%) compared to VSMVX (3.51%). In terms of maximum drawdown, VSMVX dropped -47.61% vs ARSMX's -51.75%.
VSMVX currently has the higher Sharpe Ratio (2.01 vs 0.51), 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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