GTRFX vs. GVALX

Last updated Jun 3, 2026

GTRFX (Gotham Total Return Fund) and GVALX (Gotham Large Value Fund) are both mutual funds - GTRFX 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, GTRFX returned 10.80%/yr vs 9.36%/yr for GVALX. Their correlation of 0.90 suggests significant overlap in exposure. GTRFX charges 0.00%/yr vs 1.05%/yr for GVALX.

Performance

GTRFX vs. GVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Total Return Fund (GTRFX) 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, GTRFX achieves a 7.88% return, which is significantly lower than GVALX's 9.39% return.

GTRFX

• 1D: 0.28%
• 1M: 2.42%
• YTD: 7.88%
• 6M: 9.52%
• 1Y: 21.05%
• 3Y*: 17.31%
• 5Y*: 10.80%
• 10Y*: 9.25%

GVALX

• 1D: -0.26%
• 1M: 1.45%
• YTD: 9.39%
• 6M: 11.51%
• 1Y: 21.27%
• 3Y*: 15.98%
• 5Y*: 9.36%
• 10Y*: —

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

GTRFX vs. GVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GTRFX Gotham Total Return Fund	7.88%	15.31%	15.73%	15.29%	-9.82%	27.83%	-11.41%	5.09%
GVALX Gotham Large Value Fund	9.39%	13.83%	11.88%	11.74%	-6.84%	28.96%	3.42%	12.79%

Correlation

The correlation between GTRFX and GVALX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019	0.90

The correlation between GTRFX and GVALX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

GTRFX vs. GVALX — Risk / Return Rank

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

GTRFX

GTRFX Risk / Return Rank: 63
GTRFX Sharpe Ratio Rank: 55
GTRFX Sortino Ratio Rank: 58
GTRFX Omega Ratio Rank: 50
GTRFX Calmar Ratio Rank: 77
GTRFX Martin Ratio Rank: 74

GVALX

GVALX Risk / Return Rank: 47
GVALX Sharpe Ratio Rank: 43
GVALX Sortino Ratio Rank: 46
GVALX Omega Ratio Rank: 40
GVALX Calmar Ratio Rank: 57
GVALX Martin Ratio Rank: 48

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.

GTRFX vs. GVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Total Return Fund (GTRFX) 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.

	GTRFX	GVALX	Difference
Sharpe ratio Return per unit of total volatility	2.20	1.94	+0.27
Sortino ratio Return per unit of downside risk	3.21	2.85	+0.36
Omega ratio Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio Return relative to maximum drawdown	3.49	2.89	+0.60
Martin ratio Return relative to average drawdown	14.15	10.03	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GTRFX vs. GVALX - Sharpe Ratio Comparison

The current GTRFX Sharpe Ratio is 2.20, which is comparable to the GVALX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of GTRFX 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.

Sharpe Ratios by Period

	GTRFX	GVALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	1.94	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.61	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.58	+0.08

Drawdowns

GTRFX vs. GVALX - Drawdown Comparison

The maximum GTRFX drawdown since its inception was -29.58%, smaller than the maximum GVALX drawdown of -38.56%. Use the drawdown chart below to compare losses from any high point for GTRFX and GVALX.

Drawdown Indicators

	GTRFX	GVALX	Difference
Max Drawdown Largest peak-to-trough decline	-29.58%	-38.56%	+8.98%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-7.46%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-14.48%	-15.66%	+1.18%
Max Drawdown (5Y) Largest decline over 5 years	-18.51%	-18.68%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	-29.58%	—	—
Current Drawdown Current decline from peak	0.00%	-0.26%	+0.26%
Average Drawdown Average peak-to-trough decline	-4.29%	-4.48%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	2.15%	-0.56%

Volatility

GTRFX vs. GVALX - Volatility Comparison

The current volatility for Gotham Total Return Fund (GTRFX) is 2.32%, while Gotham Large Value Fund (GVALX) has a volatility of 3.19%. This indicates that GTRFX experiences smaller price fluctuations and is considered to be less risky than GVALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTRFX	GVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	3.19%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	8.06%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	9.74%	11.05%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.51%	15.39%	-1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.88%	19.51%	-5.63%

GTRFX vs. GVALX - Expense Ratio Comparison

GTRFX has a 0.00% expense ratio, which is lower than GVALX's 1.05% expense ratio.

Dividends

GTRFX vs. GVALX - Dividend Comparison

GTRFX's dividend yield for the trailing twelve months is around 8.84%, less than GVALX's 10.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GTRFX Gotham Total Return Fund	8.84%	9.53%	11.50%	7.27%	10.25%	4.66%	0.71%	6.06%	1.48%	0.33%	0.05%
GVALX Gotham Large Value Fund	10.80%	11.81%	10.72%	9.77%	7.59%	18.49%	1.61%	2.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GTRFX and GVALX in my portfolio?

GTRFX and GVALX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTRFX or GVALX?

GVALX has higher volatility (3.19%) compared to GTRFX (2.32%). In terms of maximum drawdown, GTRFX dropped -29.58% vs GVALX's -38.56%.

Which has better risk-adjusted returns?

GTRFX currently has the higher Sharpe Ratio (2.20 vs 1.94), 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.