IIVAX vs. TBLRX

Last updated Jun 4, 2026

IIVAX (Transamerica Small/Mid Cap Value Fund) and TBLRX (Transamerica Balanced II) are both mutual funds - IIVAX is a Mid Cap Value Equities fund managed by Transamerica, while TBLRX is a Diversified Portfolio fund managed by Transamerica. Over the past 5 years, IIVAX returned 6.96%/yr vs 8.00%/yr for TBLRX. A 0.76 correlation means they provide meaningful diversification when combined. IIVAX charges 1.23%/yr vs 1.07%/yr for TBLRX.

Performance

IIVAX vs. TBLRX - Performance Comparison

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

Returns By Period

In the year-to-date period, IIVAX achieves a 10.90% return, which is significantly higher than TBLRX's 5.63% return.

IIVAX

• 1D: 0.21%
• 1M: 2.25%
• YTD: 10.90%
• 6M: 11.33%
• 1Y: 23.71%
• 3Y*: 13.74%
• 5Y*: 6.96%
• 10Y*: 10.02%

TBLRX

• 1D: 0.00%
• 1M: 2.90%
• YTD: 5.63%
• 6M: 5.83%
• 1Y: 17.09%
• 3Y*: 14.10%
• 5Y*: 8.00%
• 10Y*: —

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

IIVAX vs. TBLRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IIVAX Transamerica Small/Mid Cap Value Fund	10.90%	9.49%	8.57%	12.02%	-8.35%	27.49%	3.25%	24.62%	-10.56%
TBLRX Transamerica Balanced II	5.63%	12.78%	14.47%	18.18%	-16.46%	16.57%	15.11%	21.34%	-2.23%

Correlation

The correlation between IIVAX and TBLRX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018	0.76

The correlation between IIVAX and TBLRX shifts across timeframes, from 0.65 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IIVAX vs. TBLRX — Risk / Return Rank

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

IIVAX

IIVAX Risk / Return Rank: 45
IIVAX Sharpe Ratio Rank: 41
IIVAX Sortino Ratio Rank: 43
IIVAX Omega Ratio Rank: 37
IIVAX Calmar Ratio Rank: 55
IIVAX Martin Ratio Rank: 48

TBLRX

TBLRX Risk / Return Rank: 62
TBLRX Sharpe Ratio Rank: 62
TBLRX Sortino Ratio Rank: 62
TBLRX Omega Ratio Rank: 62
TBLRX Calmar Ratio Rank: 56
TBLRX Martin Ratio Rank: 68

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. TBLRX - Risk-Adjusted Trends Comparison

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

	IIVAX	TBLRX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.32	-0.46
Sortino ratio: Return per unit of downside risk	2.76	3.30	-0.54
Omega ratio: Gain probability vs. loss probability	1.33	1.44	-0.11
Calmar ratio: Return relative to maximum drawdown	2.85	2.87	-0.02
Martin ratio: Return relative to average drawdown	9.86	13.18	-3.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIVAX vs. TBLRX - Sharpe Ratio Comparison

The current IIVAX Sharpe Ratio is 1.86, which is comparable to the TBLRX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of IIVAX and TBLRX, 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

	IIVAX	TBLRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	2.32	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.57	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.70	-0.21

Drawdowns

IIVAX vs. TBLRX - Drawdown Comparison

The maximum IIVAX drawdown since its inception was -57.38%, which is greater than TBLRX's maximum drawdown of -25.35%. Use the drawdown chart below to compare losses from any high point for IIVAX and TBLRX.

Drawdown Indicators

	IIVAX	TBLRX	Difference
Max Drawdown Largest peak-to-trough decline	-57.38%	-25.35%	-32.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-6.11%	-2.76%
Max Drawdown (3Y) Largest decline over 3 years	-19.76%	-19.88%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-23.12%	-25.35%	+2.23%
Max Drawdown (10Y) Largest decline over 10 years	-44.13%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.34%	-6.07%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	1.33%	+1.23%

Volatility

IIVAX vs. TBLRX - Volatility Comparison

Transamerica Small/Mid Cap Value Fund (IIVAX) has a higher volatility of 3.06% compared to Transamerica Balanced II (TBLRX) at 2.15%. This indicates that IIVAX's price experiences larger fluctuations and is considered to be riskier than TBLRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIVAX	TBLRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.15%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	5.85%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	7.58%	+6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.58%	14.13%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	13.92%	+6.56%

IIVAX vs. TBLRX - Expense Ratio Comparison

IIVAX has a 1.23% expense ratio, which is higher than TBLRX's 1.07% expense ratio.

Dividends

IIVAX vs. TBLRX - Dividend Comparison

IIVAX's dividend yield for the trailing twelve months is around 9.54%, less than TBLRX's 29.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIVAX Transamerica Small/Mid Cap Value Fund	9.54%	10.58%	12.75%	4.83%	9.72%	10.94%	0.48%	3.17%	12.58%	13.20%	5.91%	9.34%
TBLRX Transamerica Balanced II	29.15%	30.86%	14.76%	3.31%	5.67%	9.15%	4.58%	3.60%	4.51%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IIVAX and TBLRX in my portfolio?

IIVAX and TBLRX have a correlation of 0.65, 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 TBLRX?

IIVAX has higher volatility (3.06%) compared to TBLRX (2.15%). In terms of maximum drawdown, IIVAX dropped -57.38% vs TBLRX's -25.35%.

Which has better risk-adjusted returns?

TBLRX currently has the higher Sharpe Ratio (2.32 vs 1.86), 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.