IVGTX vs. OBEGX

Last updated Jun 3, 2026

IVGTX (VY Morgan Stanley Global Franchise Portfolio) and OBEGX (Oberweis Global Opportunities Fund) are both Global Equities funds. Over the past 10 years, IVGTX returned 7.48%/yr vs 11.84%/yr for OBEGX. A 0.60 correlation means they provide meaningful diversification when combined. IVGTX charges 1.20%/yr vs 1.51%/yr for OBEGX.

Performance

IVGTX vs. OBEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VY Morgan Stanley Global Franchise Portfolio (IVGTX) and Oberweis Global Opportunities Fund (OBEGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVGTX achieves a -8.38% return, which is significantly lower than OBEGX's 26.78% return. Over the past 10 years, IVGTX has underperformed OBEGX with an annualized return of 7.48%, while OBEGX has yielded a comparatively higher 11.84% annualized return.

IVGTX

• 1D: 0.69%
• 1M: -1.36%
• YTD: -8.38%
• 6M: -7.63%
• 1Y: -14.33%
• 3Y*: 2.31%
• 5Y*: 1.75%
• 10Y*: 7.48%

OBEGX

• 1D: 0.76%
• 1M: 4.95%
• YTD: 26.78%
• 6M: 26.20%
• 1Y: 47.83%
• 3Y*: 19.44%
• 5Y*: 6.30%
• 10Y*: 11.84%

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

IVGTX vs. OBEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVGTX VY Morgan Stanley Global Franchise Portfolio	-8.38%	0.16%	8.63%	16.01%	-17.63%	21.67%	13.17%	29.34%	-2.81%	25.90%
OBEGX Oberweis Global Opportunities Fund	26.78%	19.32%	10.72%	6.40%	-26.76%	20.80%	55.68%	25.67%	-25.62%	33.35%

Correlation

The correlation between IVGTX and OBEGX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since May 6, 2002	0.60

Over the past year, the correlation between IVGTX and OBEGX has dropped to 0.32 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

IVGTX vs. OBEGX — Risk / Return Rank

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

IVGTX

IVGTX Risk / Return Rank: 1
IVGTX Sharpe Ratio Rank: 0
IVGTX Sortino Ratio Rank: 0
IVGTX Omega Ratio Rank: 0
IVGTX Calmar Ratio Rank: 1
IVGTX Martin Ratio Rank: 2

OBEGX

OBEGX Risk / Return Rank: 71
OBEGX Sharpe Ratio Rank: 71
OBEGX Sortino Ratio Rank: 59
OBEGX Omega Ratio Rank: 56
OBEGX Calmar Ratio Rank: 88
OBEGX Martin Ratio Rank: 83

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.

IVGTX vs. OBEGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VY Morgan Stanley Global Franchise Portfolio (IVGTX) and Oberweis Global Opportunities Fund (OBEGX). 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.

	IVGTX	OBEGX	Difference
Sharpe ratio Return per unit of total volatility	-1.30	2.45	-3.75
Sortino ratio Return per unit of downside risk	-1.77	3.24	-5.01
Omega ratio Gain probability vs. loss probability	0.80	1.41	-0.61
Calmar ratio Return relative to maximum drawdown	-0.26	4.34	-4.60
Martin ratio Return relative to average drawdown	-0.56	15.75	-16.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVGTX vs. OBEGX - Sharpe Ratio Comparison

The current IVGTX Sharpe Ratio is -1.30, which is lower than the OBEGX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of IVGTX and OBEGX, 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

	IVGTX	OBEGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.30	2.45	-3.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.27	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.53	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.24	+0.30

Drawdowns

IVGTX vs. OBEGX - Drawdown Comparison

The maximum IVGTX drawdown since its inception was -44.75%, smaller than the maximum OBEGX drawdown of -83.07%. Use the drawdown chart below to compare losses from any high point for IVGTX and OBEGX.

Drawdown Indicators

	IVGTX	OBEGX	Difference
Max Drawdown Largest peak-to-trough decline	-44.75%	-83.07%	+38.32%
Max Drawdown (1Y) Largest decline over 1 year	-20.45%	-11.24%	-9.21%
Max Drawdown (3Y) Largest decline over 3 years	-20.45%	-25.41%	+4.96%
Max Drawdown (5Y) Largest decline over 5 years	-26.27%	-39.68%	+13.41%
Max Drawdown (10Y) Largest decline over 10 years	-30.16%	-41.54%	+11.38%
Current Drawdown Current decline from peak	-14.84%	-1.02%	-13.82%
Average Drawdown Average peak-to-trough decline	-5.78%	-33.72%	+27.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.45%	3.10%	+6.35%

Volatility

IVGTX vs. OBEGX - Volatility Comparison

The current volatility for VY Morgan Stanley Global Franchise Portfolio (IVGTX) is 2.71%, while Oberweis Global Opportunities Fund (OBEGX) has a volatility of 6.89%. This indicates that IVGTX experiences smaller price fluctuations and is considered to be less risky than OBEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVGTX	OBEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	6.89%	-4.18%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	15.97%	-6.94%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	20.46%	-8.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.08%	23.19%	-7.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	22.63%	-6.17%

IVGTX vs. OBEGX - Expense Ratio Comparison

IVGTX has a 1.20% expense ratio, which is lower than OBEGX's 1.51% expense ratio.

Dividends

IVGTX vs. OBEGX - Dividend Comparison

IVGTX's dividend yield for the trailing twelve months is around 46.71%, more than OBEGX's 9.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVGTX VY Morgan Stanley Global Franchise Portfolio	46.71%	42.80%	10.28%	8.24%	10.69%	8.69%	8.32%	11.20%	17.80%	7.06%	10.12%	14.63%
OBEGX Oberweis Global Opportunities Fund	9.98%	12.66%	0.00%	0.00%	2.64%	25.09%	5.80%	0.00%	6.68%	13.37%	1.12%	14.32%

Frequently Asked Questions

Can I hold both IVGTX and OBEGX in my portfolio?

IVGTX and OBEGX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVGTX or OBEGX?

OBEGX has higher volatility (6.89%) compared to IVGTX (2.71%). In terms of maximum drawdown, IVGTX dropped -44.75% vs OBEGX's -83.07%.

Which has better risk-adjusted returns?

OBEGX currently has the higher Sharpe Ratio (2.45 vs -1.30), 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.