ITAAX vs. HOBEX

Last updated Jun 4, 2026

ITAAX (Transamerica Short-Term Bond Fund) and HOBEX (Holbrook Income Fund) are both Short-Term Bond funds. Over the past 5 years, ITAAX returned 2.11%/yr vs 3.84%/yr for HOBEX. At a 0.38 correlation, their price movements are largely independent. ITAAX charges 0.70%/yr vs 1.60%/yr for HOBEX.

Performance

ITAAX vs. HOBEX - Performance Comparison

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

Returns By Period

In the year-to-date period, ITAAX achieves a 0.71% return, which is significantly lower than HOBEX's 2.12% return.

ITAAX

• 1D: 0.00%
• 1M: 0.31%
• YTD: 0.71%
• 6M: 1.06%
• 1Y: 3.84%
• 3Y*: 4.57%
• 5Y*: 2.11%
• 10Y*: 2.33%

HOBEX

• 1D: 0.00%
• 1M: 0.44%
• YTD: 2.12%
• 6M: 2.62%
• 1Y: 5.97%
• 3Y*: 6.65%
• 5Y*: 3.84%
• 10Y*: —

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

ITAAX vs. HOBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITAAX Transamerica Short-Term Bond Fund	0.71%	5.50%	4.46%	4.70%	-4.04%	0.03%	3.16%	5.12%	0.76%	2.17%
HOBEX Holbrook Income Fund	2.12%	7.23%	7.16%	4.74%	-3.42%	6.25%	6.83%	7.30%	1.26%	2.42%

Correlation

The correlation between ITAAX and HOBEX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.38

The correlation between ITAAX and HOBEX shifts across timeframes, from 0.38 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ITAAX vs. HOBEX — Risk / Return Rank

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

ITAAX

ITAAX Risk / Return Rank: 68
ITAAX Sharpe Ratio Rank: 54
ITAAX Sortino Ratio Rank: 86
ITAAX Omega Ratio Rank: 79
ITAAX Calmar Ratio Rank: 60
ITAAX Martin Ratio Rank: 60

HOBEX

HOBEX Risk / Return Rank: 96
HOBEX Sharpe Ratio Rank: 89
HOBEX Sortino Ratio Rank: 99
HOBEX Omega Ratio Rank: 99
HOBEX Calmar Ratio Rank: 98
HOBEX Martin Ratio Rank: 98

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.

ITAAX vs. HOBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Short-Term Bond Fund (ITAAX) and Holbrook Income Fund (HOBEX). 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.

	ITAAX	HOBEX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.91	-0.75
Sortino ratio: Return per unit of downside risk	4.09	7.70	-3.61
Omega ratio: Gain probability vs. loss probability	1.52	2.60	-1.07
Calmar ratio: Return relative to maximum drawdown	3.00	9.89	-6.89
Martin ratio: Return relative to average drawdown	11.89	35.41	-23.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITAAX vs. HOBEX - Sharpe Ratio Comparison

The current ITAAX Sharpe Ratio is 2.15, which is comparable to the HOBEX Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of ITAAX and HOBEX, 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

	ITAAX	HOBEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.91	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	1.48	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.77	+0.81

Drawdowns

ITAAX vs. HOBEX - Drawdown Comparison

The maximum ITAAX drawdown since its inception was -10.38%, smaller than the maximum HOBEX drawdown of -23.58%. Use the drawdown chart below to compare losses from any high point for ITAAX and HOBEX.

Drawdown Indicators

	ITAAX	HOBEX	Difference
Max Drawdown Largest peak-to-trough decline	-10.38%	-23.58%	+13.20%
Max Drawdown (1Y) Largest decline over 1 year	-1.28%	-0.61%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-1.28%	-2.74%	+1.46%
Max Drawdown (5Y) Largest decline over 5 years	-6.55%	-4.57%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	-10.38%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.69%	-1.06%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	0.17%	+0.15%

Volatility

ITAAX vs. HOBEX - Volatility Comparison

Transamerica Short-Term Bond Fund (ITAAX) and Holbrook Income Fund (HOBEX) have volatilities of 0.52% and 0.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITAAX	HOBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	0.52%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.27%	1.63%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	1.79%	2.06%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.06%	2.61%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.17%	5.72%	-3.55%

ITAAX vs. HOBEX - Expense Ratio Comparison

ITAAX has a 0.70% expense ratio, which is lower than HOBEX's 1.60% expense ratio.

Dividends

ITAAX vs. HOBEX - Dividend Comparison

ITAAX's dividend yield for the trailing twelve months is around 3.98%, less than HOBEX's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HOBEX Holbrook Income Fund	5.79%	5.94%	6.58%	5.05%	4.83%	4.00%	5.44%	3.05%	3.84%	1.69%	0.00%	0.00%
ITAAX Transamerica Short-Term Bond Fund	3.98%	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 ITAAX and HOBEX in my portfolio?

ITAAX and HOBEX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITAAX or HOBEX?

HOBEX has higher volatility (0.52%) compared to ITAAX (0.52%). In terms of maximum drawdown, ITAAX dropped -10.38% vs HOBEX's -23.58%.

Which has better risk-adjusted returns?

HOBEX currently has the higher Sharpe Ratio (2.91 vs 2.15), 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.