ATLAX vs. TCMSX

Last updated Aug 4, 2026

ATLAX (Atlas U.S. Tactical Income Fund) and TCMSX (Voya Small Cap Growth Fund) are both mutual funds - ATLAX is a Diversified Portfolio fund managed by Voya, while TCMSX is a Small Cap Growth Equities fund managed by Voya. Over the past 10 years, ATLAX returned -0.35%/yr vs 14.15%/yr for TCMSX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. ATLAX charges 1.18%/yr vs 0.93%/yr for TCMSX.

Performance

ATLAX vs. TCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlas U.S. Tactical Income Fund (ATLAX) and Voya Small Cap Growth Fund (TCMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATLAX achieves a -0.21% return, which is significantly lower than TCMSX's 13.63% return. Over the past 10 years, ATLAX has underperformed TCMSX with an annualized return of -0.35%, while TCMSX has yielded a comparatively higher 14.15% annualized return.

ATLAX

• 1D: -0.57%
• 1M: -1.71%
• 6M: -0.72%
• YTD: -0.21%
• 1Y: 5.25%
• 3Y*: 8.02%
• 5Y*: -0.64%
• 10Y*: -0.35%
• ALL TIME*: 0.18%

TCMSX

• 1D: -0.81%
• 1M: -7.13%
• 6M: 6.01%
• YTD: 13.63%
• 1Y: 32.26%
• 3Y*: 16.88%
• 5Y*: 8.21%
• 10Y*: 14.15%
• ALL TIME*: 11.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ATLAX Atlas U.S. Tactical Income Fund	$0.00	$0.00	$0.00
TCMSX Voya Small Cap Growth Fund	$0.00	$0.00	$0.00

ATLAX vs. TCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATLAX Atlas U.S. Tactical Income Fund	-0.21%	13.62%	4.51%	9.92%	-23.76%	-1.25%	1.46%	4.27%	-8.13%	2.39%
TCMSX Voya Small Cap Growth Fund	13.63%	14.32%	18.46%	20.32%	-23.60%	18.45%	27.99%	33.27%	-6.04%	24.78%

Correlation

The correlation between ATLAX and TCMSX is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (5Y) Shows whether the relationship held over a longer period.	0.51
Correlation (10Y) Provides a long-term view across more market conditions.	0.51
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015	0.51

The correlation between ATLAX and TCMSX shifts across timeframes, from 0.38 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ATLAX vs. TCMSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ATLAX

ATLAX Risk / Return Rank: 28
ATLAX Sharpe Ratio Rank: 28
ATLAX Sortino Ratio Rank: 27
ATLAX Omega Ratio Rank: 26
ATLAX Calmar Ratio Rank: 27
ATLAX Martin Ratio Rank: 31

TCMSX

TCMSX Risk / Return Rank: 48
TCMSX Sharpe Ratio Rank: 49
TCMSX Sortino Ratio Rank: 47
TCMSX Omega Ratio Rank: 43
TCMSX Calmar Ratio Rank: 54
TCMSX Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ATLAX vs. TCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlas U.S. Tactical Income Fund (ATLAX) and Voya Small Cap Growth Fund (TCMSX). 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.

	ATLAX	TCMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.45	-0.44
Sortino ratio: Return per unit of downside risk	1.48	2.04	-0.56
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.32	2.09	-0.78
Martin ratio: Return relative to average drawdown	4.89	7.32	-2.43

ATLAX vs. TCMSX - Sharpe Ratio Comparison

The current ATLAX Sharpe Ratio is 1.01, which is lower than the TCMSX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of ATLAX and TCMSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ATLAX vs. TCMSX - Drawdown Comparison

The maximum ATLAX drawdown since its inception was -39.28%, smaller than the maximum TCMSX drawdown of -55.98%. Use the drawdown chart below to compare losses from any high point for ATLAX and TCMSX.

Drawdown Indicators

	ATLAX	TCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-55.98%	+16.70%
Max Drawdown (1Y) Largest decline over 1 year	-4.66%	-16.86%	+12.20%
Max Drawdown (3Y) Largest decline over 3 years	-10.20%	-30.74%	+20.54%
Max Drawdown (5Y) Largest decline over 5 years	-31.49%	-34.60%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	-39.28%	-39.29%	+0.01%
Current Drawdown Current decline from peak	-14.66%	-10.18%	-4.48%
Average Drawdown Average peak-to-trough decline	-14.56%	-11.71%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	4.65%	-3.40%

Volatility

ATLAX vs. TCMSX - Volatility Comparison

The current volatility for Atlas U.S. Tactical Income Fund (ATLAX) is 1.90%, while Voya Small Cap Growth Fund (TCMSX) has a volatility of 5.80%. This indicates that ATLAX experiences smaller price fluctuations and is considered to be less risky than TCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATLAX	TCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	5.80%	-3.90%
Volatility (6M) Calculated over the trailing 6-month period	5.01%	19.23%	-14.22%
Volatility (1Y) Calculated over the trailing 1-year period	6.07%	24.38%	-18.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.00%	24.60%	-15.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.47%	23.73%	-7.26%

ATLAX vs. TCMSX - Expense Ratio Comparison

ATLAX has a 1.18% expense ratio, which is higher than TCMSX's 0.93% expense ratio.

Dividends

ATLAX vs. TCMSX - Dividend Comparison

ATLAX's dividend yield for the trailing twelve months is around 5.11%, more than TCMSX's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATLAX Atlas U.S. Tactical Income Fund	5.11%	4.68%	5.15%	3.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TCMSX Voya Small Cap Growth Fund	4.90%	5.57%	10.53%	0.00%	0.00%	20.02%	6.69%	1.40%	14.82%	16.10%	0.00%	16.82%

Frequently Asked Questions

Can I hold both ATLAX and TCMSX in my portfolio?

ATLAX and TCMSX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATLAX or TCMSX?

TCMSX has higher volatility (5.80%) compared to ATLAX (1.90%). In terms of maximum drawdown, ATLAX dropped -39.28% vs TCMSX's -55.98%.

Which has better risk-adjusted returns?

TCMSX currently has the higher Sharpe Ratio (1.45 vs 1.01), 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.