IVGTX vs. PGVFX
IVGTX (VY Morgan Stanley Global Franchise Portfolio) and PGVFX (Polaris Global Value Fund) are both Global Equities funds. Over the past 10 years, IVGTX returned 7.31%/yr vs 11.32%/yr for PGVFX. A 0.67 correlation means they provide meaningful diversification when combined. IVGTX charges 1.20%/yr vs 0.99%/yr for PGVFX.
Performance
IVGTX vs. PGVFX - Performance Comparison
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Returns By Period
In the year-to-date period, IVGTX achieves a -8.22% return, which is significantly lower than PGVFX's 21.67% return. Over the past 10 years, IVGTX has underperformed PGVFX with an annualized return of 7.31%, while PGVFX has yielded a comparatively higher 11.32% annualized return.
IVGTX
- 1D
- 1.37%
- 1M
- 1.37%
- 6M
- -8.47%
- YTD
- -8.22%
- 1Y
- -13.19%
- 3Y*
- 0.76%
- 5Y*
- 0.60%
- 10Y*
- 7.31%
PGVFX
- 1D
- 1.27%
- 1M
- 0.71%
- 6M
- 17.06%
- YTD
- 21.67%
- 1Y
- 36.51%
- 3Y*
- 20.27%
- 5Y*
- 11.09%
- 10Y*
- 11.32%
IVGTX vs. PGVFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVGTX VY Morgan Stanley Global Franchise Portfolio | -8.22% | 0.16% | 8.63% | 16.01% | -17.63% | 21.67% | 13.17% | 29.34% | -2.81% | 25.90% |
PGVFX Polaris Global Value Fund | 21.67% | 27.01% | 5.33% | 14.76% | -12.00% | 15.38% | 6.65% | 22.83% | -12.64% | 20.60% |
Correlation
The correlation between IVGTX and PGVFX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 3, 2002 | 0.67 |
Over the past year, the correlation between IVGTX and PGVFX has dropped to 0.26 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
IVGTX vs. PGVFX — Risk / Return Rank
IVGTX
PGVFX
IVGTX vs. PGVFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY Morgan Stanley Global Franchise Portfolio (IVGTX) and Polaris Global Value Fund (PGVFX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IVGTX | PGVFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.08 | ||
| Sortino ratioReturn per unit of downside risk | -5.61 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.55 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 4.21 | -4.93 |
| Martin ratioReturn relative to average drawdown | -1.31 | 15.21 | -16.52 |
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Drawdowns
IVGTX vs. PGVFX - Drawdown Comparison
The maximum IVGTX drawdown since its inception was -44.75%, smaller than the maximum PGVFX drawdown of -68.09%. Use the drawdown chart below to compare losses from any high point for IVGTX and PGVFX.
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Drawdown Indicators
| IVGTX | PGVFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.75% | -68.09% | +23.34% |
Max Drawdown (1Y)Largest decline over 1 year | -19.45% | -8.76% | -10.69% |
Max Drawdown (3Y)Largest decline over 3 years | -20.45% | -12.53% | -7.92% |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | -27.58% | +1.31% |
Max Drawdown (10Y)Largest decline over 10 years | -30.16% | -41.26% | +11.10% |
Current DrawdownCurrent decline from peak | -14.69% | 0.00% | -14.69% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -11.26% | +5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.05% | 2.42% | +8.63% |
Volatility
IVGTX vs. PGVFX - Volatility Comparison
VY Morgan Stanley Global Franchise Portfolio (IVGTX) has a higher volatility of 4.72% compared to Polaris Global Value Fund (PGVFX) at 4.05%. This indicates that IVGTX's price experiences larger fluctuations and is considered to be riskier than PGVFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVGTX | PGVFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 4.05% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 10.67% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.48% | 12.52% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 13.90% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 15.63% | +0.77% |
IVGTX vs. PGVFX - Expense Ratio Comparison
IVGTX has a 1.20% expense ratio, which is higher than PGVFX's 0.99% expense ratio.
Dividends
IVGTX vs. PGVFX - Dividend Comparison
IVGTX's dividend yield for the trailing twelve months is around 68.59%, more than PGVFX's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVGTX VY Morgan Stanley Global Franchise Portfolio | 68.59% | 42.80% | 10.28% | 8.24% | 10.69% | 8.69% | 8.32% | 11.20% | 17.80% | 7.06% | 10.12% | 14.63% |
PGVFX Polaris Global Value Fund | 4.25% | 5.17% | 5.65% | 1.68% | 3.55% | 4.05% | 1.55% | 3.69% | 3.39% | 1.50% | 1.32% | 1.26% |
Frequently Asked Questions
IVGTX and PGVFX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVGTX has higher volatility (4.72%) compared to PGVFX (4.05%). In terms of maximum drawdown, IVGTX dropped -44.75% vs PGVFX's -68.09%.
PGVFX currently has the higher Sharpe Ratio (2.96 vs -1.12), 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.
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