LOGOX vs. VTMFX

Last updated Jun 24, 2026

LOGOX (Scharf Multi-Asset Opportunity Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, LOGOX returned 8.05%/yr vs 8.70%/yr for VTMFX. Their correlation of 0.84 suggests significant overlap in exposure. LOGOX charges 0.97%/yr vs 0.05%/yr for VTMFX.

Performance

LOGOX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Scharf Multi-Asset Opportunity Fund (LOGOX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LOGOX achieves a 0.03% return, which is significantly lower than VTMFX's 5.23% return. Over the past 10 years, LOGOX has underperformed VTMFX with an annualized return of 8.05%, while VTMFX has yielded a comparatively higher 8.70% annualized return.

LOGOX

• 1D: -0.65%
• 1M: -2.39%
• YTD: 0.03%
• 6M: -0.33%
• 1Y: 6.02%
• 3Y*: 9.58%
• 5Y*: 5.75%
• 10Y*: 8.05%

VTMFX

• 1D: -0.19%
• 1M: 0.76%
• YTD: 5.23%
• 6M: 4.83%
• 1Y: 14.99%
• 3Y*: 12.08%
• 5Y*: 7.01%
• 10Y*: 8.70%

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

LOGOX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LOGOX Scharf Multi-Asset Opportunity Fund	0.03%	12.37%	7.49%	13.40%	-9.25%	15.52%	11.67%	20.95%	-2.65%	10.36%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.23%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between LOGOX and VTMFX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.84

Over the past year, the correlation between LOGOX and VTMFX has dropped to 0.58 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

LOGOX vs. VTMFX — Risk / Return Rank

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

LOGOX

LOGOX Risk / Return Rank: 8
LOGOX Sharpe Ratio Rank: 8
LOGOX Sortino Ratio Rank: 8
LOGOX Omega Ratio Rank: 8
LOGOX Calmar Ratio Rank: 8
LOGOX Martin Ratio Rank: 8

VTMFX

VTMFX Risk / Return Rank: 76
VTMFX Sharpe Ratio Rank: 80
VTMFX Sortino Ratio Rank: 78
VTMFX Omega Ratio Rank: 78
VTMFX Calmar Ratio Rank: 63
VTMFX Martin Ratio Rank: 78

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.

LOGOX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Scharf Multi-Asset Opportunity Fund (LOGOX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	LOGOX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	0.65	2.43	-1.78
Sortino ratio: Return per unit of downside risk	0.91	3.42	-2.52
Omega ratio: Gain probability vs. loss probability	1.12	1.46	-0.34
Calmar ratio: Return relative to maximum drawdown	0.68	2.91	-2.23
Martin ratio: Return relative to average drawdown	1.96	13.60	-11.65

LOGOX vs. VTMFX - Sharpe Ratio Comparison

The current LOGOX Sharpe Ratio is 0.65, which is lower than the VTMFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of LOGOX and VTMFX, 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

LOGOX vs. VTMFX - Drawdown Comparison

The maximum LOGOX drawdown since its inception was -22.16%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for LOGOX and VTMFX.

Drawdown Indicators

	LOGOX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-22.16%	-28.49%	+6.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	-5.38%	-4.16%
Max Drawdown (3Y) Largest decline over 3 years	-9.54%	-10.61%	+1.07%
Max Drawdown (5Y) Largest decline over 5 years	-16.84%	-17.40%	+0.56%
Max Drawdown (10Y) Largest decline over 10 years	-22.16%	-21.87%	-0.29%
Current Drawdown Current decline from peak	-6.88%	-0.75%	-6.13%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.54%	+0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	1.15%	+2.17%

Volatility

LOGOX vs. VTMFX - Volatility Comparison

Scharf Multi-Asset Opportunity Fund (LOGOX) has a higher volatility of 3.59% compared to Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) at 2.45%. This indicates that LOGOX's price experiences larger fluctuations and is considered to be riskier than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOGOX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	2.45%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	8.51%	5.18%	+3.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.07%	6.46%	+3.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.79%	8.57%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.30%	9.15%	+1.15%

LOGOX vs. VTMFX - Expense Ratio Comparison

LOGOX has a 0.97% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

LOGOX vs. VTMFX - Dividend Comparison

LOGOX's dividend yield for the trailing twelve months is around 2.05%, less than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LOGOX Scharf Multi-Asset Opportunity Fund	2.05%	2.05%	5.22%	8.67%	3.45%	9.33%	3.76%	7.50%	7.21%	2.18%	1.41%	4.19%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.12%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both LOGOX and VTMFX in my portfolio?

LOGOX and VTMFX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOGOX or VTMFX?

LOGOX has higher volatility (3.59%) compared to VTMFX (2.45%). In terms of maximum drawdown, LOGOX dropped -22.16% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.43 vs 0.65), 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.