GF vs. THOIX
GF (The New Germany Fund) and THOIX (Thornburg Global Opportunities Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, GF returned 8.02%/yr vs 13.43%/yr for THOIX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. GF charges 0.01%/yr vs 0.99%/yr for THOIX.
Performance
GF vs. THOIX - Performance Comparison
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Returns By Period
In the year-to-date period, GF achieves a -0.63% return, which is significantly lower than THOIX's 10.91% return. Over the past 10 years, GF has underperformed THOIX with an annualized return of 8.02%, while THOIX has yielded a comparatively higher 13.43% annualized return.
GF
- 1D
- -1.06%
- 1M
- -3.20%
- 6M
- -4.96%
- YTD
- -0.63%
- 1Y
- 0.16%
- 3Y*
- 8.42%
- 5Y*
- -3.94%
- 10Y*
- 8.02%
- ALL TIME*
- 3.88%
THOIX
- 1D
- -0.41%
- 1M
- 1.48%
- 6M
- 3.68%
- YTD
- 10.91%
- 1Y
- 30.28%
- 3Y*
- 21.57%
- 5Y*
- 13.48%
- 10Y*
- 13.43%
- ALL TIME*
- 10.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $342.45K | $308.40K | $485.94K | |
| $0.00 | $0.00 | $0.00 |
GF vs. THOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GF The New Germany Fund | -0.63% | 48.34% | -9.96% | 11.66% | -42.21% | 7.92% | 38.43% | 38.75% | -21.55% | 54.50% |
THOIX Thornburg Global Opportunities Fund | 10.91% | 41.04% | 13.08% | 16.26% | -10.12% | 14.72% | 22.50% | 28.74% | -20.72% | 22.03% |
Correlation
The correlation between GF and THOIX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007 | 0.67 |
Over the past year, the correlation between GF and THOIX has dropped to 0.46 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
GF vs. THOIX — Risk / Return Rank
GF
THOIX
GF vs. THOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The New Germany Fund (GF) and Thornburg Global Opportunities Fund (THOIX). 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.
| GF | THOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.45 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 3.32 | -3.45 |
| Martin ratioReturn relative to average drawdown | -0.37 | 11.52 | -11.89 |
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Drawdowns
GF vs. THOIX - Drawdown Comparison
The maximum GF drawdown since its inception was -85.97%, which is greater than THOIX's maximum drawdown of -64.58%. Use the drawdown chart below to compare losses from any high point for GF and THOIX.
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Drawdown Indicators
| GF | THOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.97% | -64.58% | -21.39% |
Max Drawdown (1Y)Largest decline over 1 year | -18.07% | -8.62% | -9.45% |
Max Drawdown (3Y)Largest decline over 3 years | -18.07% | -13.71% | -4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -53.83% | -30.18% | -23.65% |
Max Drawdown (10Y)Largest decline over 10 years | -53.83% | -35.22% | -18.61% |
Current DrawdownCurrent decline from peak | -21.10% | -3.32% | -17.78% |
Average DrawdownAverage peak-to-trough decline | -33.87% | -11.40% | -22.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 2.48% | +4.04% |
Volatility
GF vs. THOIX - Volatility Comparison
The New Germany Fund (GF) has a higher volatility of 5.23% compared to Thornburg Global Opportunities Fund (THOIX) at 3.36%. This indicates that GF's price experiences larger fluctuations and is considered to be riskier than THOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GF | THOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 3.36% | +1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 16.42% | 9.38% | +7.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.03% | 11.89% | +8.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 16.48% | +4.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.58% | 17.33% | +3.25% |
GF vs. THOIX - Expense Ratio Comparison
GF has a 0.01% expense ratio, which is lower than THOIX's 0.99% expense ratio.
Dividends
GF vs. THOIX - Dividend Comparison
GF's dividend yield for the trailing twelve months is around 2.53%, less than THOIX's 5.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GF The New Germany Fund | 2.53% | 1.30% | 0.92% | 0.80% | 9.74% | 39.51% | 12.92% | 3.29% | 31.23% | 3.82% | 9.05% | 8.37% |
THOIX Thornburg Global Opportunities Fund | 5.79% | 6.42% | 5.70% | 5.70% | 4.00% | 14.39% | 6.70% | 1.47% | 2.65% | 0.67% | 0.82% | 0.59% |
Frequently Asked Questions
GF and THOIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GF has higher volatility (5.23%) compared to THOIX (3.36%). In terms of maximum drawdown, GF dropped -85.97% vs THOIX's -64.58%.
THOIX currently has the higher Sharpe Ratio (2.41 vs -0.12), 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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