Fund Evaluator:
AMG River Road Dividend All Cap Value N (ARDEX)
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Fund Details
AMG River Road Dividend All Cap Value N Overview
AMG River Road Dividend All Cap Value N (ARDEX) is an actively managed U.S. Equity Large Value fund. AMG Funds launched the fund in 2005.
The investment seeks to provide high current income and, secondarily, long-term capital appreciation. Under normal conditions, the fund invests at least 80% of its assets in equity securities. It invests in a diversified, all-cap portfolio of income-producing equity securities with yields that the subadviser believes will exceed that of the Russell 3000 Value Index. The fund invests primarily in dividend paying common stocks, publicly traded partnerships ("PTPs"), and real estate investment trusts ("REITs").
About AMG River Road Dividend All Cap Value N (ARDEX)
There are 3 members of the management team with an average tenure of 9.14 years: Thomas Forsha (2007), Andrew McIntosh (2018), Brett Leary (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 3000 Value TR USD index with a weighting of 100%. AMG River Road Dividend All Cap Value N has 63 securities in its portfolio. The top 10 holdings constitute 29.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
AMG River Road Dividend All Cap Value N is part of the Equity global asset class and is within the U.S. Equity fund group. AMG River Road Dividend All Cap Value N has 12.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 84.7%. There is 12.1% allocated to foreign stock, and 2.9% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). AMG River Road Dividend All Cap Value N has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $24 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ARDEX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The AMG River Road Dividend All Cap Value N expense ratio is high compared to funds in the Large Value category. AMG River Road Dividend All Cap Value N has an expense ratio of 0.97%, which is 5% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. AMG River Road Dividend All Cap Value N has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, AMG River Road Dividend All Cap Value N returned 1.8%, which earned it a grade of D, as the Large Value category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
AMG River Road Dividend All Cap Value N has a trailing yield of 4.66%, which is above the 1.20% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
AMG River Road Dividend All Cap Value N Grades
Year to date, the fund has returned 13.1%, 1.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 17.3% over the past year (grade of F), 12.6% over the past three years (grade of F) and 7.9% per year over the past five years (grade of F) and 8.1% per year over the past 10 years (grade of F).
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ARDEX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ARDEX Return (NAV) | 1.8% | 4.1% | 17.3% | 12.6% | 7.9% | 8.1% |
| ARDEX Grade | D | D | F | F | F | F |
| +/- Category | -1.1% | -2.1% | -6.5% | -3.1% | -2.9% | -3.2% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| ARDEX Tax Cost Ratio | na | na | 6.4% | 6.6% | 5.5% | 3.8% |
ARDEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ARDEX Return (NAV) | 13.1% | 7.0% | 16.6% | 2.0% | -3.5% | 21.5% | -2.2% | 23.1% | -7.6% | 8.8% | 20.2% |
| ARDEX Grade | C | F | B | F | B | F | F | D | B | F | A |
| +/- Category | -1.1% | -8.2% | 2.5% | -9.8% | 2.6% | -4.3% | -6.0% | -2.5% | 0.8% | -7.6% | 5.6% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 11.9% |
| Total Risk Index: | 0.97 - Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (48% Rank) |
| Beta: | 0.62 |
| R-Squared: | 46% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.7% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $67 Mil |
| Fund Total Assets: | $ 24 Mil |
| Share Class Type: | N |
| Portfolio Turnover: | 38% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 19.1 years | |||
| Average Tenure: 9.1 years | |||
| Managers (Year): Forsha Thomas (2007), McIntosh Andrew (2018), Leary Brett (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 63 |
| % in Top 10 Holdings: | 29.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.1% |
Portfolio Allocation |
|
| Domestic Stock: | 84.7% |
| Foreign Stock: | 12.1% |
| Preferred Stock: | 2.9% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Fund Family: | AMG Funds |
| Phone Number: | 800-548-4539 |
| Website: | www.amgfunds.com |
| Status: | Open |
| Inception Date: | June 28, 2005 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.97% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | AMG River Road Dividend All Cap Value N |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
