IIVAX vs. SMMD
IIVAX (Transamerica Small/Mid Cap Value Fund) and SMMD (iShares Russell 2500 ETF) are both funds - IIVAX is a Mid Cap Value Equities fund managed by Transamerica, while SMMD is a Small Cap Growth Equities fund tracking the Russell 2500 Index. Over the past 5 years, IIVAX returned 7.38%/yr vs 7.71%/yr for SMMD. Their correlation of 0.88 suggests significant overlap in exposure. IIVAX charges 1.23%/yr vs 0.15%/yr for SMMD.
Performance
IIVAX vs. SMMD - Performance Comparison
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Returns By Period
In the year-to-date period, IIVAX achieves a 10.39% return, which is significantly lower than SMMD's 20.07% return.
IIVAX
- 1D
- -0.18%
- 1M
- 0.67%
- YTD
- 10.39%
- 6M
- 9.54%
- 1Y
- 21.67%
- 3Y*
- 13.50%
- 5Y*
- 7.38%
- 10Y*
- 10.40%
SMMD
- 1D
- -1.43%
- 1M
- 3.19%
- YTD
- 20.07%
- 6M
- 17.51%
- 1Y
- 36.34%
- 3Y*
- 19.02%
- 5Y*
- 7.71%
- 10Y*
- —
IIVAX vs. SMMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIVAX Transamerica Small/Mid Cap Value Fund | 10.39% | 9.49% | 8.57% | 12.02% | -8.35% | 27.49% | 3.25% | 24.62% | -11.87% | 8.84% |
SMMD iShares Russell 2500 ETF | 20.07% | 11.72% | 11.87% | 17.71% | -18.53% | 18.30% | 19.98% | 28.01% | -10.58% | 11.27% |
Correlation
The correlation between IIVAX and SMMD is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2017 | 0.88 |
The correlation between IIVAX and SMMD has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.
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Return for Risk
IIVAX vs. SMMD — Risk / Return Rank
IIVAX
SMMD
IIVAX vs. SMMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Transamerica Small/Mid Cap Value Fund (IIVAX) and iShares Russell 2500 ETF (SMMD). 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 | SMMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.35 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 3.78 | -1.22 |
| Martin ratioReturn relative to average drawdown | 8.81 | 14.32 | -5.51 |
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Drawdowns
IIVAX vs. SMMD - Drawdown Comparison
The maximum IIVAX drawdown since its inception was -57.38%, which is greater than SMMD's maximum drawdown of -41.06%. Use the drawdown chart below to compare losses from any high point for IIVAX and SMMD.
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Drawdown Indicators
| IIVAX | SMMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.38% | -41.06% | -16.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -9.66% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -19.76% | -25.50% | +5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -28.26% | +5.14% |
Max Drawdown (10Y)Largest decline over 10 years | -44.13% | — | — |
Current DrawdownCurrent decline from peak | -2.50% | -1.43% | -1.07% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -8.33% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.54% | +0.03% |
Volatility
IIVAX vs. SMMD - Volatility Comparison
The current volatility for Transamerica Small/Mid Cap Value Fund (IIVAX) is 3.52%, while iShares Russell 2500 ETF (SMMD) has a volatility of 5.96%. This indicates that IIVAX experiences smaller price fluctuations and is considered to be less risky than SMMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIVAX | SMMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 5.96% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 9.11% | 13.39% | -4.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 17.77% | -4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.56% | 20.91% | -2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 22.37% | -1.89% |
IIVAX vs. SMMD - Expense Ratio Comparison
IIVAX has a 1.23% expense ratio, which is higher than SMMD's 0.15% expense ratio.
Dividends
IIVAX vs. SMMD - Dividend Comparison
IIVAX's dividend yield for the trailing twelve months is around 9.59%, more than SMMD's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIVAX Transamerica Small/Mid Cap Value Fund | 9.59% | 10.58% | 12.75% | 4.83% | 9.72% | 10.94% | 0.48% | 3.17% | 12.58% | 13.20% | 5.91% | 9.34% |
SMMD iShares Russell 2500 ETF | 1.07% | 1.28% | 1.27% | 1.44% | 1.79% | 1.12% | 1.31% | 1.50% | 2.45% | 0.68% | 0.00% | 0.00% |
Frequently Asked Questions
IIVAX and SMMD have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMMD has higher volatility (5.96%) compared to IIVAX (3.52%). In terms of maximum drawdown, IIVAX dropped -57.38% vs SMMD's -41.06%.
SMMD currently has the higher Sharpe Ratio (2.06 vs 1.65), 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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