GARIX vs. GVALX

Last updated Jun 24, 2026

GARIX (Gotham Absolute Return Fund) and GVALX (Gotham Large Value Fund) are both mutual funds - GARIX is a Long-Short fund managed by Gotham, while GVALX is a Large Cap Value Equities fund managed by Gotham. Over the past 5 years, GARIX returned 14.44%/yr vs 10.04%/yr for GVALX. Their correlation of 0.81 suggests significant overlap in exposure. GARIX charges 1.50%/yr vs 1.05%/yr for GVALX.

Performance

GARIX vs. GVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Absolute Return Fund (GARIX) and Gotham Large Value Fund (GVALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GARIX achieves a 10.85% return, which is significantly higher than GVALX's 9.74% return.

GARIX

• 1D: 0.42%
• 1M: 1.71%
• YTD: 10.85%
• 6M: 10.49%
• 1Y: 19.39%
• 3Y*: 18.84%
• 5Y*: 14.44%
• 10Y*: 10.09%

GVALX

• 1D: 0.13%
• 1M: 0.39%
• YTD: 9.74%
• 6M: 8.89%
• 1Y: 19.88%
• 3Y*: 15.76%
• 5Y*: 10.04%
• 10Y*: —

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

GARIX vs. GVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GARIX Gotham Absolute Return Fund	10.85%	16.18%	20.46%	17.70%	-5.04%	26.87%	-6.19%	5.73%
GVALX Gotham Large Value Fund	9.74%	13.83%	11.88%	11.74%	-6.84%	28.96%	3.42%	12.79%

Correlation

The correlation between GARIX and GVALX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019	0.81

Over the past year, the correlation between GARIX and GVALX has dropped to 0.59 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

GARIX vs. GVALX — Risk / Return Rank

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

GARIX

GARIX Risk / Return Rank: 84
GARIX Sharpe Ratio Rank: 80
GARIX Sortino Ratio Rank: 78
GARIX Omega Ratio Rank: 70
GARIX Calmar Ratio Rank: 95
GARIX Martin Ratio Rank: 95

GVALX

GVALX Risk / Return Rank: 50
GVALX Sharpe Ratio Rank: 48
GVALX Sortino Ratio Rank: 51
GVALX Omega Ratio Rank: 44
GVALX Calmar Ratio Rank: 59
GVALX Martin Ratio Rank: 50

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.

GARIX vs. GVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Absolute Return Fund (GARIX) and Gotham Large Value Fund (GVALX). 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.

	GARIX	GVALX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.88	+0.54
Sortino ratio: Return per unit of downside risk	3.40	2.76	+0.64
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	5.31	2.83	+2.49
Martin ratio: Return relative to average drawdown	20.84	9.76	+11.08

GARIX vs. GVALX - Sharpe Ratio Comparison

The current GARIX Sharpe Ratio is 2.42, which is comparable to the GVALX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of GARIX and GVALX, 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

GARIX vs. GVALX - Drawdown Comparison

The maximum GARIX drawdown since its inception was -26.49%, smaller than the maximum GVALX drawdown of -38.56%. Use the drawdown chart below to compare losses from any high point for GARIX and GVALX.

Drawdown Indicators

	GARIX	GVALX	Difference
Max Drawdown Largest peak-to-trough decline	-26.49%	-38.56%	+12.07%
Max Drawdown (1Y) Largest decline over 1 year	-3.85%	-7.46%	+3.61%
Max Drawdown (3Y) Largest decline over 3 years	-23.15%	-15.66%	-7.49%
Max Drawdown (5Y) Largest decline over 5 years	-23.15%	-18.68%	-4.47%
Max Drawdown (10Y) Largest decline over 10 years	-26.49%	—	—
Current Drawdown Current decline from peak	-0.83%	-1.78%	+0.95%
Average Drawdown Average peak-to-trough decline	-4.50%	-4.45%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	2.15%	-1.17%

Volatility

GARIX vs. GVALX - Volatility Comparison

Gotham Absolute Return Fund (GARIX) and Gotham Large Value Fund (GVALX) have volatilities of 3.58% and 3.43%, 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

	GARIX	GVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	3.43%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	6.81%	8.36%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	8.49%	11.26%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.39%	15.39%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.92%	19.47%	-5.55%

GARIX vs. GVALX - Expense Ratio Comparison

GARIX has a 1.50% expense ratio, which is higher than GVALX's 1.05% expense ratio.

Dividends

GARIX vs. GVALX - Dividend Comparison

GARIX's dividend yield for the trailing twelve months is around 6.47%, less than GVALX's 10.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GARIX Gotham Absolute Return Fund	6.47%	7.18%	18.74%	5.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.36%
GVALX Gotham Large Value Fund	10.76%	11.81%	10.72%	9.77%	7.59%	18.49%	1.61%	2.40%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GARIX and GVALX in my portfolio?

GARIX and GVALX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GARIX or GVALX?

GARIX has higher volatility (3.58%) compared to GVALX (3.43%). In terms of maximum drawdown, GARIX dropped -26.49% vs GVALX's -38.56%.

Which has better risk-adjusted returns?

GARIX currently has the higher Sharpe Ratio (2.42 vs 1.88), 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.