IMLAX vs. TSHFX

Last updated Jun 4, 2026

IMLAX (Transamerica Asset Allocation Moderate Growth Portfolio Fund) and TSHFX (Transamerica Asset Allocation Short Horizon) are both mutual funds - IMLAX is a Diversified Portfolio fund managed by Transamerica, while TSHFX is a Intermediate Core-Plus Bond fund managed by Transamerica. Over the past 10 years, IMLAX returned 8.80%/yr vs 3.01%/yr for TSHFX. At a 0.48 correlation, their price movements are largely independent. IMLAX charges 0.47%/yr vs 0.83%/yr for TSHFX.

Performance

IMLAX vs. TSHFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Asset Allocation Moderate Growth Portfolio Fund (IMLAX) and Transamerica Asset Allocation Short Horizon (TSHFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMLAX achieves a 7.58% return, which is significantly higher than TSHFX's 1.67% return. Over the past 10 years, IMLAX has outperformed TSHFX with an annualized return of 8.80%, while TSHFX has yielded a comparatively lower 3.01% annualized return.

IMLAX

• 1D: 0.13%
• 1M: 4.04%
• YTD: 7.58%
• 6M: 8.43%
• 1Y: 20.52%
• 3Y*: 15.79%
• 5Y*: 7.30%
• 10Y*: 8.80%

TSHFX

• 1D: 0.00%
• 1M: 0.94%
• YTD: 1.67%
• 6M: 1.59%
• 1Y: 6.63%
• 3Y*: 6.00%
• 5Y*: 1.84%
• 10Y*: 3.01%

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

IMLAX vs. TSHFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMLAX Transamerica Asset Allocation Moderate Growth Portfolio Fund	7.58%	17.98%	13.11%	15.70%	-17.36%	11.37%	16.92%	17.82%	-8.54%	15.88%
TSHFX Transamerica Asset Allocation Short Horizon	1.67%	7.47%	4.35%	7.43%	-12.32%	2.59%	8.42%	9.74%	-1.62%	5.15%

Correlation

The correlation between IMLAX and TSHFX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 6, 2002	0.48

Over the past year, IMLAX and TSHFX have become more correlated (0.73) than their long-term average of 0.48, meaning their price movements have been converging.

Return for Risk

IMLAX vs. TSHFX — Risk / Return Rank

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

IMLAX

IMLAX Risk / Return Rank: 54
IMLAX Sharpe Ratio Rank: 53
IMLAX Sortino Ratio Rank: 52
IMLAX Omega Ratio Rank: 51
IMLAX Calmar Ratio Rank: 53
IMLAX Martin Ratio Rank: 62

TSHFX

TSHFX Risk / Return Rank: 48
TSHFX Sharpe Ratio Rank: 47
TSHFX Sortino Ratio Rank: 50
TSHFX Omega Ratio Rank: 50
TSHFX Calmar Ratio Rank: 43
TSHFX Martin Ratio Rank: 49

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.

IMLAX vs. TSHFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Asset Allocation Moderate Growth Portfolio Fund (IMLAX) and Transamerica Asset Allocation Short Horizon (TSHFX). 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.

	IMLAX	TSHFX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.03	+0.10
Sortino ratio: Return per unit of downside risk	3.02	3.00	+0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	2.76	2.49	+0.27
Martin ratio: Return relative to average drawdown	12.25	10.21	+2.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMLAX vs. TSHFX - Sharpe Ratio Comparison

The current IMLAX Sharpe Ratio is 2.13, which is comparable to the TSHFX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of IMLAX and TSHFX, 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

	IMLAX	TSHFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.03	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.39	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.73	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.10	+0.41

Drawdowns

IMLAX vs. TSHFX - Drawdown Comparison

The maximum IMLAX drawdown since its inception was -46.65%, which is greater than TSHFX's maximum drawdown of -23.90%. Use the drawdown chart below to compare losses from any high point for IMLAX and TSHFX.

Drawdown Indicators

	IMLAX	TSHFX	Difference
Max Drawdown Largest peak-to-trough decline	-46.65%	-23.90%	-22.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-2.77%	-4.85%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	-4.88%	-8.11%
Max Drawdown (5Y) Largest decline over 5 years	-25.32%	-15.84%	-9.48%
Max Drawdown (10Y) Largest decline over 10 years	-27.36%	-15.84%	-11.52%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.71%	-4.95%	-1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	0.68%	+1.04%

Volatility

IMLAX vs. TSHFX - Volatility Comparison

Transamerica Asset Allocation Moderate Growth Portfolio Fund (IMLAX) has a higher volatility of 2.76% compared to Transamerica Asset Allocation Short Horizon (TSHFX) at 1.26%. This indicates that IMLAX's price experiences larger fluctuations and is considered to be riskier than TSHFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMLAX	TSHFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	1.26%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	7.88%	2.67%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	9.90%	3.42%	+6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.98%	4.74%	+7.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.16%	4.13%	+8.03%

IMLAX vs. TSHFX - Expense Ratio Comparison

IMLAX has a 0.47% expense ratio, which is lower than TSHFX's 0.83% expense ratio.

Dividends

IMLAX vs. TSHFX - Dividend Comparison

IMLAX's dividend yield for the trailing twelve months is around 6.42%, more than TSHFX's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMLAX Transamerica Asset Allocation Moderate Growth Portfolio Fund	6.42%	6.90%	6.44%	3.39%	3.62%	8.40%	4.06%	7.35%	15.09%	9.95%	6.99%	7.99%
TSHFX Transamerica Asset Allocation Short Horizon	4.03%	4.22%	13.42%	3.48%	4.84%	5.63%	4.22%	2.95%	3.30%	2.20%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IMLAX and TSHFX in my portfolio?

IMLAX and TSHFX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMLAX or TSHFX?

IMLAX has higher volatility (2.76%) compared to TSHFX (1.26%). In terms of maximum drawdown, IMLAX dropped -46.65% vs TSHFX's -23.90%.

Which has better risk-adjusted returns?

IMLAX currently has the higher Sharpe Ratio (2.13 vs 2.03), 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.