IIVAX vs. ITAAX

Last updated Aug 1, 2026

IIVAX (Transamerica Small/Mid Cap Value Fund) and ITAAX (Transamerica Short-Term Bond Fund) are both mutual funds - IIVAX is a Mid Cap Value Equities fund managed by Transamerica, while ITAAX is a Short-Term Bond fund managed by Transamerica. Over the past 10 years, IIVAX returned 10.22%/yr vs 2.25%/yr for ITAAX. Their -0.03 correlation means they have often moved in opposite directions in the past. IIVAX charges 1.23%/yr vs 0.70%/yr for ITAAX.

Performance

IIVAX vs. ITAAX - Performance Comparison

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

Returns By Period

In the year-to-date period, IIVAX achieves a 15.66% return, which is significantly higher than ITAAX's 0.65% return. Over the past 10 years, IIVAX has outperformed ITAAX with an annualized return of 10.22%, while ITAAX has yielded a comparatively lower 2.25% annualized return.

IIVAX

• 1D: -0.67%
• 1M: 1.95%
• 6M: 9.91%
• YTD: 15.66%
• 1Y: 26.07%
• 3Y*: 12.12%
• 5Y*: 8.48%
• 10Y*: 10.22%
• ALL TIME*: 10.81%

ITAAX

• 1D: 0.00%
• 1M: -0.30%
• 6M: 0.34%
• YTD: 0.65%
• 1Y: 2.55%
• 3Y*: 4.39%
• 5Y*: 2.05%
• 10Y*: 2.25%
• ALL TIME*: 3.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IIVAX Transamerica Small/Mid Cap Value Fund	$0.00	$0.00	$0.00
ITAAX Transamerica Short-Term Bond Fund	$0.00	$0.00	$0.00

IIVAX vs. ITAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IIVAX Transamerica Small/Mid Cap Value Fund	15.66%	9.49%	8.57%	12.02%	-8.35%	27.49%	3.25%	24.62%	-11.87%	15.16%
ITAAX Transamerica Short-Term Bond Fund	0.65%	5.50%	4.46%	4.70%	-4.04%	0.03%	3.16%	5.12%	0.76%	2.17%

Correlation

The correlation between IIVAX and ITAAX is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.14
Correlation (10Y) Provides a long-term view across more market conditions.	0.05
Correlation (All Time) Calculated using the full available price history since Nov 2, 2007	-0.03

The correlation between IIVAX and ITAAX shifts across timeframes, from -0.03 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IIVAX vs. ITAAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IIVAX

IIVAX Risk / Return Rank: 76
IIVAX Sharpe Ratio Rank: 75
IIVAX Sortino Ratio Rank: 77
IIVAX Omega Ratio Rank: 71
IIVAX Calmar Ratio Rank: 81
IIVAX Martin Ratio Rank: 78

ITAAX

ITAAX Risk / Return Rank: 82
ITAAX Sharpe Ratio Rank: 78
ITAAX Sortino Ratio Rank: 90
ITAAX Omega Ratio Rank: 86
ITAAX Calmar Ratio Rank: 78
ITAAX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IIVAX vs. ITAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Small/Mid Cap Value Fund (IIVAX) and Transamerica Short-Term Bond Fund (ITAAX). 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	ITAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.88	-0.11
Sortino ratio: Return per unit of downside risk	2.66	3.38	-0.72
Omega ratio: Gain probability vs. loss probability	1.31	1.44	-0.13
Calmar ratio: Return relative to maximum drawdown	2.67	2.59	+0.08
Martin ratio: Return relative to average drawdown	9.49	9.98	-0.49

IIVAX vs. ITAAX - Sharpe Ratio Comparison

The current IIVAX Sharpe Ratio is 1.77, which is comparable to the ITAAX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of IIVAX and ITAAX, 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. ITAAX - Drawdown Comparison

The maximum IIVAX drawdown since its inception was -57.38%, which is greater than ITAAX's maximum drawdown of -10.38%. Use the drawdown chart below to compare losses from any high point for IIVAX and ITAAX.

Drawdown Indicators

	IIVAX	ITAAX	Difference
Max Drawdown Largest peak-to-trough decline	-57.38%	-10.38%	-47.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-1.28%	-7.59%
Max Drawdown (3Y) Largest decline over 3 years	-19.76%	-1.28%	-18.48%
Max Drawdown (5Y) Largest decline over 5 years	-23.12%	-6.55%	-16.57%
Max Drawdown (10Y) Largest decline over 10 years	-44.13%	-10.38%	-33.75%
Current Drawdown Current decline from peak	-1.06%	-0.30%	-0.76%
Average Drawdown Average peak-to-trough decline	-8.29%	-0.68%	-7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	0.33%	+2.17%

Volatility

IIVAX vs. ITAAX - Volatility Comparison

Transamerica Small/Mid Cap Value Fund (IIVAX) has a higher volatility of 3.32% compared to Transamerica Short-Term Bond Fund (ITAAX) at 0.38%. This indicates that IIVAX's price experiences larger fluctuations and is considered to be riskier than ITAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIVAX	ITAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	0.38%	+2.94%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	1.35%	+7.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	1.77%	+11.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.48%	2.07%	+16.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.34%	2.18%	+18.16%

IIVAX vs. ITAAX - Expense Ratio Comparison

IIVAX has a 1.23% expense ratio, which is higher than ITAAX's 0.70% expense ratio.

Dividends

IIVAX vs. ITAAX - Dividend Comparison

IIVAX's dividend yield for the trailing twelve months is around 9.15%, more than ITAAX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIVAX Transamerica Small/Mid Cap Value Fund	9.15%	10.58%	12.75%	4.83%	9.72%	10.94%	0.48%	3.17%	12.58%	13.20%	5.91%	9.34%
ITAAX Transamerica Short-Term Bond Fund	3.64%	4.03%	3.75%	2.72%	1.39%	1.30%	1.81%	2.52%	2.35%	1.96%	2.23%	2.10%

Frequently Asked Questions

Can I hold both IIVAX and ITAAX in my portfolio?

IIVAX and ITAAX have a correlation of 0.32, 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 ITAAX?

IIVAX has higher volatility (3.32%) compared to ITAAX (0.38%). In terms of maximum drawdown, IIVAX dropped -57.38% vs ITAAX's -10.38%.

Which has better risk-adjusted returns?

ITAAX currently has the higher Sharpe Ratio (1.88 vs 1.77), 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.