AWAYX vs. TAVFX

Last updated Jun 5, 2026

AWAYX (AB Wealth Appreciation Strategy) and TAVFX (Third Avenue Value Fund) are both Global Equities funds. Over the past 10 years, AWAYX returned 12.09%/yr vs 10.75%/yr for TAVFX. A 0.79 correlation means they provide meaningful diversification when combined. AWAYX charges 0.40%/yr vs 1.15%/yr for TAVFX.

Performance

AWAYX vs. TAVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Wealth Appreciation Strategy (AWAYX) and Third Avenue Value Fund (TAVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWAYX achieves a 11.56% return, which is significantly lower than TAVFX's 14.83% return. Over the past 10 years, AWAYX has outperformed TAVFX with an annualized return of 12.09%, while TAVFX has yielded a comparatively lower 10.75% annualized return.

AWAYX

• 1D: -0.68%
• 1M: 2.30%
• YTD: 11.56%
• 6M: 12.31%
• 1Y: 28.36%
• 3Y*: 21.11%
• 5Y*: 11.12%
• 10Y*: 12.09%

TAVFX

• 1D: -1.25%
• 1M: 3.24%
• YTD: 14.83%
• 6M: 16.25%
• 1Y: 42.31%
• 3Y*: 19.17%
• 5Y*: 14.48%
• 10Y*: 10.75%

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

AWAYX vs. TAVFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWAYX AB Wealth Appreciation Strategy	11.56%	21.59%	19.08%	21.06%	-18.42%	20.57%	13.04%	25.57%	-9.68%	22.02%
TAVFX Third Avenue Value Fund	14.83%	35.93%	-2.43%	20.26%	17.46%	22.39%	7.76%	12.95%	-25.95%	8.81%

Correlation

The correlation between AWAYX and TAVFX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 4, 2003	0.79

The correlation between AWAYX and TAVFX shifts across timeframes, from 0.64 (3 years) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AWAYX vs. TAVFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AWAYX

AWAYX Risk / Return Rank: 59
AWAYX Sharpe Ratio Rank: 57
AWAYX Sortino Ratio Rank: 54
AWAYX Omega Ratio Rank: 56
AWAYX Calmar Ratio Rank: 63
AWAYX Martin Ratio Rank: 67

TAVFX

TAVFX Risk / Return Rank: 80
TAVFX Sharpe Ratio Rank: 85
TAVFX Sortino Ratio Rank: 77
TAVFX Omega Ratio Rank: 73
TAVFX Calmar Ratio Rank: 81
TAVFX Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AWAYX vs. TAVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Wealth Appreciation Strategy (AWAYX) and Third Avenue Value Fund (TAVFX). 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.

	AWAYX	TAVFX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.78	-0.59
Sortino ratio: Return per unit of downside risk	3.06	3.73	-0.67
Omega ratio: Gain probability vs. loss probability	1.41	1.48	-0.08
Calmar ratio: Return relative to maximum drawdown	3.00	3.71	-0.71
Martin ratio: Return relative to average drawdown	12.80	15.17	-2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWAYX vs. TAVFX - Sharpe Ratio Comparison

The current AWAYX Sharpe Ratio is 2.19, which is comparable to the TAVFX Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of AWAYX and TAVFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AWAYX	TAVFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.78	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.18	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.18	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.30	+0.15

Drawdowns

AWAYX vs. TAVFX - Drawdown Comparison

The maximum AWAYX drawdown since its inception was -60.32%, smaller than the maximum TAVFX drawdown of -66.11%. Use the drawdown chart below to compare losses from any high point for AWAYX and TAVFX.

Drawdown Indicators

	AWAYX	TAVFX	Difference
Max Drawdown Largest peak-to-trough decline	-60.32%	-66.11%	+5.79%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-11.48%	+1.81%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-66.11%	+48.52%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	-66.11%	+39.71%
Max Drawdown (10Y) Largest decline over 10 years	-34.32%	-66.11%	+31.79%
Current Drawdown Current decline from peak	-0.68%	-1.25%	+0.57%
Average Drawdown Average peak-to-trough decline	-9.74%	-9.57%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.80%	-0.54%

Volatility

AWAYX vs. TAVFX - Volatility Comparison

AB Wealth Appreciation Strategy (AWAYX) and Third Avenue Value Fund (TAVFX) have volatilities of 3.68% and 3.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWAYX	TAVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.80%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	10.85%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	15.35%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	81.99%	-65.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	60.30%	-43.48%

AWAYX vs. TAVFX - Expense Ratio Comparison

AWAYX has a 0.40% expense ratio, which is lower than TAVFX's 1.15% expense ratio.

Dividends

AWAYX vs. TAVFX - Dividend Comparison

AWAYX's dividend yield for the trailing twelve months is around 6.60%, more than TAVFX's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWAYX AB Wealth Appreciation Strategy	6.60%	7.36%	5.97%	2.54%	7.90%	9.02%	3.05%	4.11%	3.94%	7.73%	6.17%	1.87%
TAVFX Third Avenue Value Fund	6.04%	6.93%	9.86%	4.48%	5.67%	3.74%	0.70%	5.95%	4.45%	3.03%	8.24%	8.43%

Frequently Asked Questions

Can I hold both AWAYX and TAVFX in my portfolio?

AWAYX and TAVFX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWAYX or TAVFX?

TAVFX has higher volatility (3.80%) compared to AWAYX (3.68%). In terms of maximum drawdown, AWAYX dropped -60.32% vs TAVFX's -66.11%.

Which has better risk-adjusted returns?

TAVFX currently has the higher Sharpe Ratio (2.78 vs 2.19), 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.