LBWIX vs. VALAX

Last updated Jun 25, 2026

LBWIX (BrandywineGLOBAL - Diversified US Large Cap Value Fund) and VALAX (Al Frank Fund) are both Large Cap Value Equities funds. Over the past 10 years, LBWIX returned 12.62%/yr vs 14.87%/yr for VALAX. Their correlation of 0.94 suggests significant overlap in exposure. LBWIX charges 0.84%/yr vs 1.24%/yr for VALAX.

Performance

LBWIX vs. VALAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - Diversified US Large Cap Value Fund (LBWIX) and Al Frank Fund (VALAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LBWIX achieves a 12.11% return, which is significantly lower than VALAX's 23.37% return. Over the past 10 years, LBWIX has underperformed VALAX with an annualized return of 12.62%, while VALAX has yielded a comparatively higher 14.87% annualized return.

LBWIX

• 1D: -0.21%
• 1M: 2.45%
• YTD: 12.11%
• 6M: 10.68%
• 1Y: 26.29%
• 3Y*: 19.68%
• 5Y*: 12.07%
• 10Y*: 12.62%

VALAX

• 1D: -1.45%
• 1M: 2.94%
• YTD: 23.37%
• 6M: 21.66%
• 1Y: 46.96%
• 3Y*: 24.44%
• 5Y*: 12.28%
• 10Y*: 14.87%

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

LBWIX vs. VALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LBWIX BrandywineGLOBAL - Diversified US Large Cap Value Fund	12.11%	17.38%	18.59%	7.42%	-1.56%	29.74%	-1.41%	25.66%	-9.05%	17.79%
VALAX Al Frank Fund	23.37%	23.57%	13.35%	14.05%	-13.50%	24.97%	10.22%	33.98%	-7.87%	18.09%

Correlation

The correlation between LBWIX and VALAX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011	0.94

The correlation between LBWIX and VALAX shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LBWIX vs. VALAX — Risk / Return Rank

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

LBWIX

LBWIX Risk / Return Rank: 85
LBWIX Sharpe Ratio Rank: 86
LBWIX Sortino Ratio Rank: 86
LBWIX Omega Ratio Rank: 78
LBWIX Calmar Ratio Rank: 88
LBWIX Martin Ratio Rank: 85

VALAX

VALAX Risk / Return Rank: 95
VALAX Sharpe Ratio Rank: 98
VALAX Sortino Ratio Rank: 94
VALAX Omega Ratio Rank: 90
VALAX Calmar Ratio Rank: 96
VALAX Martin Ratio Rank: 96

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.

LBWIX vs. VALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - Diversified US Large Cap Value Fund (LBWIX) and Al Frank Fund (VALAX). 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.

	LBWIX	VALAX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	3.38	-0.87
Sortino ratio: Return per unit of downside risk	3.66	4.47	-0.81
Omega ratio: Gain probability vs. loss probability	1.44	1.60	-0.15
Calmar ratio: Return relative to maximum drawdown	4.01	5.70	-1.69
Martin ratio: Return relative to average drawdown	14.25	22.34	-8.08

LBWIX vs. VALAX - Sharpe Ratio Comparison

The current LBWIX Sharpe Ratio is 2.51, which is comparable to the VALAX Sharpe Ratio of 3.38. The chart below compares the historical Sharpe Ratios of LBWIX and VALAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LBWIX vs. VALAX - Drawdown Comparison

The maximum LBWIX drawdown since its inception was -38.22%, smaller than the maximum VALAX drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for LBWIX and VALAX.

Drawdown Indicators

	LBWIX	VALAX	Difference
Max Drawdown Largest peak-to-trough decline	-38.22%	-61.26%	+23.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-8.56%	+1.76%
Max Drawdown (3Y) Largest decline over 3 years	-14.05%	-25.81%	+11.76%
Max Drawdown (5Y) Largest decline over 5 years	-17.87%	-25.81%	+7.94%
Max Drawdown (10Y) Largest decline over 10 years	-38.22%	-38.22%	0.00%
Current Drawdown Current decline from peak	-0.42%	-1.45%	+1.03%
Average Drawdown Average peak-to-trough decline	-3.94%	-10.72%	+6.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	2.18%	-0.27%

Volatility

LBWIX vs. VALAX - Volatility Comparison

The current volatility for BrandywineGLOBAL - Diversified US Large Cap Value Fund (LBWIX) is 3.29%, while Al Frank Fund (VALAX) has a volatility of 5.62%. This indicates that LBWIX experiences smaller price fluctuations and is considered to be less risky than VALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LBWIX	VALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	5.62%	-2.33%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	11.59%	-3.59%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	14.44%	-3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	17.87%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	19.34%	-1.53%

LBWIX vs. VALAX - Expense Ratio Comparison

LBWIX has a 0.84% expense ratio, which is lower than VALAX's 1.24% expense ratio.

Dividends

LBWIX vs. VALAX - Dividend Comparison

LBWIX's dividend yield for the trailing twelve months is around 11.11%, more than VALAX's 7.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LBWIX BrandywineGLOBAL - Diversified US Large Cap Value Fund	11.11%	12.45%	11.18%	1.90%	13.87%	16.48%	2.89%	11.13%	11.30%	6.47%	6.95%	6.82%
VALAX Al Frank Fund	7.02%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Frequently Asked Questions

Can I hold both LBWIX and VALAX in my portfolio?

LBWIX and VALAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LBWIX or VALAX?

VALAX has higher volatility (5.62%) compared to LBWIX (3.29%). In terms of maximum drawdown, LBWIX dropped -38.22% vs VALAX's -61.26%.

Which has better risk-adjusted returns?

VALAX currently has the higher Sharpe Ratio (3.38 vs 2.51), 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.