MFQTX vs. TVRIX

Last updated Jun 26, 2026

MFQTX (AMG Veritas Global Focus Fund) and TVRIX (Guggenheim Directional Allocation Fund) are both Large Cap Growth Equities funds. Over the past 10 years, MFQTX returned 8.87%/yr vs 10.28%/yr for TVRIX. Their correlation of 0.84 suggests significant overlap in exposure. MFQTX charges 0.88%/yr vs 1.09%/yr for TVRIX.

Performance

MFQTX vs. TVRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG Veritas Global Focus Fund (MFQTX) and Guggenheim Directional Allocation Fund (TVRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFQTX achieves a -4.73% return, which is significantly lower than TVRIX's 9.02% return. Over the past 10 years, MFQTX has underperformed TVRIX with an annualized return of 8.87%, while TVRIX has yielded a comparatively higher 10.28% annualized return.

MFQTX

• 1D: 0.44%
• 1M: -0.06%
• YTD: -4.73%
• 6M: -5.07%
• 1Y: -10.76%
• 3Y*: 7.55%
• 5Y*: 2.86%
• 10Y*: 8.87%

TVRIX

• 1D: -0.20%
• 1M: -1.10%
• YTD: 9.02%
• 6M: 7.96%
• 1Y: 20.89%
• 3Y*: 13.98%
• 5Y*: 6.40%
• 10Y*: 10.28%

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

MFQTX vs. TVRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFQTX AMG Veritas Global Focus Fund	-4.73%	-1.59%	23.14%	22.81%	-21.08%	17.63%	8.44%	28.37%	-3.66%	18.28%
TVRIX Guggenheim Directional Allocation Fund	9.02%	13.83%	7.87%	11.00%	-17.53%	27.30%	5.08%	30.45%	-7.53%	23.45%

Correlation

The correlation between MFQTX and TVRIX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 18, 2012	0.84

Over the past year, the correlation between MFQTX and TVRIX has dropped to 0.63 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

MFQTX vs. TVRIX — Risk / Return Rank

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

MFQTX

MFQTX Risk / Return Rank: 1
MFQTX Sharpe Ratio Rank: 1
MFQTX Sortino Ratio Rank: 1
MFQTX Omega Ratio Rank: 1
MFQTX Calmar Ratio Rank: 1
MFQTX Martin Ratio Rank: 1

TVRIX

TVRIX Risk / Return Rank: 60
TVRIX Sharpe Ratio Rank: 61
TVRIX Sortino Ratio Rank: 56
TVRIX Omega Ratio Rank: 58
TVRIX Calmar Ratio Rank: 57
TVRIX Martin Ratio Rank: 66

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.

MFQTX vs. TVRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG Veritas Global Focus Fund (MFQTX) and Guggenheim Directional Allocation Fund (TVRIX). 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.

	MFQTX	TVRIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	1.88	-2.54
Sortino ratio: Return per unit of downside risk	-0.73	2.57	-3.30
Omega ratio: Gain probability vs. loss probability	0.89	1.34	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.48	2.48	-2.97
Martin ratio: Return relative to average drawdown	-1.00	10.82	-11.82

MFQTX vs. TVRIX - Sharpe Ratio Comparison

The current MFQTX Sharpe Ratio is -0.66, which is lower than the TVRIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MFQTX and TVRIX, 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

MFQTX vs. TVRIX - Drawdown Comparison

The maximum MFQTX drawdown since its inception was -57.67%, which is greater than TVRIX's maximum drawdown of -39.36%. Use the drawdown chart below to compare losses from any high point for MFQTX and TVRIX.

Drawdown Indicators

	MFQTX	TVRIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.67%	-39.36%	-18.31%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	-8.45%	-14.55%
Max Drawdown (3Y) Largest decline over 3 years	-23.60%	-24.87%	+1.27%
Max Drawdown (5Y) Largest decline over 5 years	-27.69%	-24.87%	-2.82%
Max Drawdown (10Y) Largest decline over 10 years	-37.58%	-39.36%	+1.78%
Current Drawdown Current decline from peak	-16.12%	-2.76%	-13.36%
Average Drawdown Average peak-to-trough decline	-10.32%	-6.04%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.01%	1.94%	+9.07%

Volatility

MFQTX vs. TVRIX - Volatility Comparison

The current volatility for AMG Veritas Global Focus Fund (MFQTX) is 4.41%, while Guggenheim Directional Allocation Fund (TVRIX) has a volatility of 5.44%. This indicates that MFQTX experiences smaller price fluctuations and is considered to be less risky than TVRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFQTX	TVRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	5.44%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	9.23%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	11.19%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	14.57%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	17.84%	+1.14%

MFQTX vs. TVRIX - Expense Ratio Comparison

MFQTX has a 0.88% expense ratio, which is lower than TVRIX's 1.09% expense ratio.

Dividends

MFQTX vs. TVRIX - Dividend Comparison

MFQTX has not paid dividends to shareholders, while TVRIX's dividend yield for the trailing twelve months is around 8.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFQTX AMG Veritas Global Focus Fund	0.00%	0.00%	18.87%	2.45%	5.59%	139.81%	1.67%	0.72%	1.95%	0.47%	1.19%	0.57%
TVRIX Guggenheim Directional Allocation Fund	8.84%	9.64%	0.00%	2.03%	0.71%	14.34%	0.30%	16.62%	14.33%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MFQTX and TVRIX in my portfolio?

MFQTX and TVRIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFQTX or TVRIX?

TVRIX has higher volatility (5.44%) compared to MFQTX (4.41%). In terms of maximum drawdown, MFQTX dropped -57.67% vs TVRIX's -39.36%.

Which has better risk-adjusted returns?

TVRIX currently has the higher Sharpe Ratio (1.88 vs -0.66), 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.