ITIOX vs. THYIX

Last updated Jun 4, 2026

ITIOX (Transamerica Inflation Opportunities Fund) and THYIX (Transamerica High Yield Muni) are both mutual funds - ITIOX is a Inflation-Protected Bonds fund managed by Transamerica, while THYIX is a High Yield Muni fund managed by Transamerica. Over the past 10 years, ITIOX returned 2.80%/yr vs 2.40%/yr for THYIX. At a 0.49 correlation, their price movements are largely independent. ITIOX charges 0.65%/yr vs 0.76%/yr for THYIX.

Performance

ITIOX vs. THYIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Inflation Opportunities Fund (ITIOX) and Transamerica High Yield Muni (THYIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITIOX achieves a 1.51% return, which is significantly lower than THYIX's 2.46% return. Over the past 10 years, ITIOX has outperformed THYIX with an annualized return of 2.80%, while THYIX has yielded a comparatively lower 2.40% annualized return.

ITIOX

• 1D: 0.00%
• 1M: 0.39%
• YTD: 1.51%
• 6M: 1.14%
• 1Y: 4.99%
• 3Y*: 4.39%
• 5Y*: 1.47%
• 10Y*: 2.80%

THYIX

• 1D: 0.19%
• 1M: 0.81%
• YTD: 2.46%
• 6M: 3.05%
• 1Y: 7.30%
• 3Y*: 5.68%
• 5Y*: 0.22%
• 10Y*: 2.40%

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

ITIOX vs. THYIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITIOX Transamerica Inflation Opportunities Fund	1.51%	6.10%	2.13%	5.96%	-10.81%	4.02%	8.95%	8.79%	-1.99%	4.06%
THYIX Transamerica High Yield Muni	2.46%	3.17%	6.05%	8.24%	-18.68%	7.94%	3.15%	9.62%	0.66%	9.67%

Correlation

The correlation between ITIOX and THYIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.49

The correlation between ITIOX and THYIX shifts across timeframes, from 0.43 (1 year) to 0.57 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ITIOX vs. THYIX — Risk / Return Rank

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

ITIOX

ITIOX Risk / Return Rank: 41
ITIOX Sharpe Ratio Rank: 35
ITIOX Sortino Ratio Rank: 39
ITIOX Omega Ratio Rank: 36
ITIOX Calmar Ratio Rank: 53
ITIOX Martin Ratio Rank: 40

THYIX

THYIX Risk / Return Rank: 62
THYIX Sharpe Ratio Rank: 61
THYIX Sortino Ratio Rank: 77
THYIX Omega Ratio Rank: 82
THYIX Calmar Ratio Rank: 48
THYIX Martin Ratio Rank: 41

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.

ITIOX vs. THYIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Inflation Opportunities Fund (ITIOX) and Transamerica High Yield Muni (THYIX). 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.

	ITIOX	THYIX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.30	-0.57
Sortino ratio: Return per unit of downside risk	2.61	3.69	-1.08
Omega ratio: Gain probability vs. loss probability	1.32	1.54	-0.23
Calmar ratio: Return relative to maximum drawdown	2.80	2.63	+0.17
Martin ratio: Return relative to average drawdown	8.69	8.87	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITIOX vs. THYIX - Sharpe Ratio Comparison

The current ITIOX Sharpe Ratio is 1.73, which is comparable to the THYIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ITIOX and THYIX, 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

	ITIOX	THYIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	2.30	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.04	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.48	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.91	-0.34

Drawdowns

ITIOX vs. THYIX - Drawdown Comparison

The maximum ITIOX drawdown since its inception was -13.98%, smaller than the maximum THYIX drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for ITIOX and THYIX.

Drawdown Indicators

	ITIOX	THYIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.98%	-23.56%	+9.58%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-2.74%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-4.04%	-6.66%	+2.62%
Max Drawdown (5Y) Largest decline over 5 years	-13.98%	-23.56%	+9.58%
Max Drawdown (10Y) Largest decline over 10 years	-13.98%	-23.56%	+9.58%
Current Drawdown Current decline from peak	0.00%	-1.34%	+1.34%
Average Drawdown Average peak-to-trough decline	-2.69%	-4.58%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.81%	-0.23%

Volatility

ITIOX vs. THYIX - Volatility Comparison

The current volatility for Transamerica Inflation Opportunities Fund (ITIOX) is 0.82%, while Transamerica High Yield Muni (THYIX) has a volatility of 1.05%. This indicates that ITIOX experiences smaller price fluctuations and is considered to be less risky than THYIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITIOX	THYIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	1.05%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	2.27%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	3.16%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.98%	5.37%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	4.98%	-0.53%

ITIOX vs. THYIX - Expense Ratio Comparison

ITIOX has a 0.65% expense ratio, which is lower than THYIX's 0.76% expense ratio.

Dividends

ITIOX vs. THYIX - Dividend Comparison

ITIOX's dividend yield for the trailing twelve months is around 3.13%, less than THYIX's 4.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITIOX Transamerica Inflation Opportunities Fund	3.13%	3.98%	2.66%	3.12%	5.85%	3.60%	1.17%	1.29%	2.72%	1.56%	0.34%	0.00%
THYIX Transamerica High Yield Muni	4.37%	4.52%	3.93%	3.18%	2.81%	3.10%	3.64%	3.65%	3.81%	3.10%	4.42%	3.40%

Frequently Asked Questions

Can I hold both ITIOX and THYIX in my portfolio?

ITIOX and THYIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITIOX or THYIX?

THYIX has higher volatility (1.05%) compared to ITIOX (0.82%). In terms of maximum drawdown, ITIOX dropped -13.98% vs THYIX's -23.56%.

Which has better risk-adjusted returns?

THYIX currently has the higher Sharpe Ratio (2.30 vs 1.73), 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.