IIVAX vs. CSMCX

Last updated Jun 23, 2026

IIVAX (Transamerica Small/Mid Cap Value Fund) and CSMCX (Congress Small Cap Growth Fund) are both mutual funds - IIVAX is a Mid Cap Value Equities fund managed by Transamerica, while CSMCX is a Small Cap Growth Equities fund managed by Congress. Over the past 10 years, IIVAX returned 10.07%/yr vs 17.39%/yr for CSMCX. Their correlation of 0.84 suggests significant overlap in exposure. IIVAX charges 1.23%/yr vs 1.00%/yr for CSMCX.

Performance

IIVAX vs. CSMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Small/Mid Cap Value Fund (IIVAX) and Congress Small Cap Growth Fund (CSMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IIVAX achieves a 10.59% return, which is significantly lower than CSMCX's 18.84% return. Over the past 10 years, IIVAX has underperformed CSMCX with an annualized return of 10.07%, while CSMCX has yielded a comparatively higher 17.39% annualized return.

IIVAX

• 1D: 0.35%
• 1M: 0.85%
• YTD: 10.59%
• 6M: 9.23%
• 1Y: 22.78%
• 3Y*: 12.47%
• 5Y*: 7.84%
• 10Y*: 10.07%

CSMCX

• 1D: -0.34%
• 1M: 8.19%
• YTD: 18.84%
• 6M: 15.45%
• 1Y: 28.53%
• 3Y*: 17.02%
• 5Y*: 9.47%
• 10Y*: 17.39%

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

IIVAX vs. CSMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IIVAX Transamerica Small/Mid Cap Value Fund	10.59%	9.49%	8.57%	12.02%	-8.35%	27.49%	3.25%	24.62%	-11.87%	15.16%
CSMCX Congress Small Cap Growth Fund	18.84%	8.37%	18.65%	20.27%	-26.21%	39.30%	39.11%	36.12%	2.51%	22.58%

Correlation

The correlation between IIVAX and CSMCX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 30, 2001	0.84

The correlation between IIVAX and CSMCX has been stable across timeframes, ranging from 0.74 to 0.84 - a consistent structural relationship.

Return for Risk

IIVAX vs. CSMCX — Risk / Return Rank

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

IIVAX

IIVAX Risk / Return Rank: 42
IIVAX Sharpe Ratio Rank: 39
IIVAX Sortino Ratio Rank: 41
IIVAX Omega Ratio Rank: 36
IIVAX Calmar Ratio Rank: 51
IIVAX Martin Ratio Rank: 45

CSMCX

CSMCX Risk / Return Rank: 32
CSMCX Sharpe Ratio Rank: 29
CSMCX Sortino Ratio Rank: 30
CSMCX Omega Ratio Rank: 26
CSMCX Calmar Ratio Rank: 39
CSMCX Martin Ratio Rank: 34

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.

IIVAX vs. CSMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Small/Mid Cap Value Fund (IIVAX) and Congress Small Cap Growth Fund (CSMCX). 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.

	IIVAX	CSMCX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.42	+0.26
Sortino ratio: Return per unit of downside risk	2.51	2.13	+0.38
Omega ratio: Gain probability vs. loss probability	1.29	1.25	+0.05
Calmar ratio: Return relative to maximum drawdown	2.60	2.25	+0.35
Martin ratio: Return relative to average drawdown	8.98	7.26	+1.72

IIVAX vs. CSMCX - Sharpe Ratio Comparison

The current IIVAX Sharpe Ratio is 1.68, which is comparable to the CSMCX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of IIVAX and CSMCX, 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

IIVAX vs. CSMCX - Drawdown Comparison

The maximum IIVAX drawdown since its inception was -57.38%, roughly equal to the maximum CSMCX drawdown of -56.20%. Use the drawdown chart below to compare losses from any high point for IIVAX and CSMCX.

Drawdown Indicators

	IIVAX	CSMCX	Difference
Max Drawdown Largest peak-to-trough decline	-57.38%	-56.20%	-1.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-13.63%	+4.76%
Max Drawdown (3Y) Largest decline over 3 years	-19.76%	-26.10%	+6.34%
Max Drawdown (5Y) Largest decline over 5 years	-23.12%	-33.44%	+10.32%
Max Drawdown (10Y) Largest decline over 10 years	-44.13%	-33.44%	-10.69%
Current Drawdown Current decline from peak	-2.33%	-0.34%	-1.99%
Average Drawdown Average peak-to-trough decline	-8.32%	-9.38%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	4.22%	-1.66%

Volatility

IIVAX vs. CSMCX - Volatility Comparison

The current volatility for Transamerica Small/Mid Cap Value Fund (IIVAX) is 3.68%, while Congress Small Cap Growth Fund (CSMCX) has a volatility of 6.23%. This indicates that IIVAX experiences smaller price fluctuations and is considered to be less risky than CSMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIVAX	CSMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	6.23%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	16.23%	-7.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	21.67%	-7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.58%	22.68%	-4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	22.49%	-2.01%

IIVAX vs. CSMCX - Expense Ratio Comparison

IIVAX has a 1.23% expense ratio, which is higher than CSMCX's 1.00% expense ratio.

Dividends

IIVAX vs. CSMCX - Dividend Comparison

IIVAX's dividend yield for the trailing twelve months is around 9.57%, more than CSMCX's 1.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSMCX Congress Small Cap Growth Fund	1.97%	2.34%	0.00%	0.00%	0.00%	15.57%	7.05%	16.14%	10.04%	11.48%	0.00%	27.40%
IIVAX Transamerica Small/Mid Cap Value Fund	9.57%	10.58%	12.75%	4.83%	9.72%	10.94%	0.48%	3.17%	12.58%	13.20%	5.91%	9.34%

Frequently Asked Questions

Can I hold both IIVAX and CSMCX in my portfolio?

IIVAX and CSMCX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IIVAX or CSMCX?

CSMCX has higher volatility (6.23%) compared to IIVAX (3.68%). In terms of maximum drawdown, IIVAX dropped -57.38% vs CSMCX's -56.20%.

Which has better risk-adjusted returns?

IIVAX currently has the higher Sharpe Ratio (1.68 vs 1.42), 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.