PALAX vs. SAWMX

Last updated Jun 4, 2026

PALAX (Virtus Global Allocation Fund) and SAWMX (SA Worldwide Moderate Growth Fund) are both Global Allocation funds. Over the past 10 years, PALAX returned 7.58%/yr vs 8.75%/yr for SAWMX. Their correlation of 0.83 suggests significant overlap in exposure. PALAX charges 0.52%/yr vs 0.00%/yr for SAWMX.

Performance

PALAX vs. SAWMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Global Allocation Fund (PALAX) and SA Worldwide Moderate Growth Fund (SAWMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PALAX achieves a 9.67% return, which is significantly lower than SAWMX's 10.67% return. Over the past 10 years, PALAX has underperformed SAWMX with an annualized return of 7.58%, while SAWMX has yielded a comparatively higher 8.75% annualized return.

PALAX

• 1D: 0.25%
• 1M: 3.96%
• YTD: 9.67%
• 6M: 10.89%
• 1Y: 23.16%
• 3Y*: 13.00%
• 5Y*: 6.46%
• 10Y*: 7.58%

SAWMX

• 1D: 0.50%
• 1M: 3.47%
• YTD: 10.67%
• 6M: 11.91%
• 1Y: 24.09%
• 3Y*: 14.80%
• 5Y*: 8.01%
• 10Y*: 8.75%

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

PALAX vs. SAWMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PALAX Virtus Global Allocation Fund	9.67%	17.73%	6.39%	11.78%	-15.69%	10.82%	13.99%	17.93%	-8.72%	16.92%
SAWMX SA Worldwide Moderate Growth Fund	10.67%	18.15%	6.40%	13.60%	-8.96%	16.67%	4.12%	17.03%	-7.87%	13.89%

Correlation

The correlation between PALAX and SAWMX is 0.73, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.83

The correlation between PALAX and SAWMX has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.

Return for Risk

PALAX vs. SAWMX — Risk / Return Rank

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

PALAX

PALAX Risk / Return Rank: 79
PALAX Sharpe Ratio Rank: 84
PALAX Sortino Ratio Rank: 80
PALAX Omega Ratio Rank: 79
PALAX Calmar Ratio Rank: 74
PALAX Martin Ratio Rank: 77

SAWMX

SAWMX Risk / Return Rank: 94
SAWMX Sharpe Ratio Rank: 97
SAWMX Sortino Ratio Rank: 96
SAWMX Omega Ratio Rank: 93
SAWMX Calmar Ratio Rank: 90
SAWMX Martin Ratio Rank: 91

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.

PALAX vs. SAWMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Global Allocation Fund (PALAX) and SA Worldwide Moderate Growth Fund (SAWMX). 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.

	PALAX	SAWMX	Difference
Sharpe ratio Return per unit of total volatility	2.73	3.73	-1.00
Sortino ratio Return per unit of downside risk	3.82	5.49	-1.67
Omega ratio Gain probability vs. loss probability	1.52	1.72	-0.20
Calmar ratio Return relative to maximum drawdown	3.37	4.72	-1.35
Martin ratio Return relative to average drawdown	14.53	18.74	-4.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PALAX vs. SAWMX - Sharpe Ratio Comparison

The current PALAX Sharpe Ratio is 2.73, which is comparable to the SAWMX Sharpe Ratio of 3.73. The chart below compares the historical Sharpe Ratios of PALAX and SAWMX, 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

	PALAX	SAWMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	3.73	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.83	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.80	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.80	-0.28

Drawdowns

PALAX vs. SAWMX - Drawdown Comparison

The maximum PALAX drawdown since its inception was -44.59%, which is greater than SAWMX's maximum drawdown of -30.56%. Use the drawdown chart below to compare losses from any high point for PALAX and SAWMX.

Drawdown Indicators

	PALAX	SAWMX	Difference
Max Drawdown Largest peak-to-trough decline	-44.59%	-30.56%	-14.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-5.79%	-1.14%
Max Drawdown (3Y) Largest decline over 3 years	-11.92%	-11.86%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-27.75%	-17.57%	-10.18%
Max Drawdown (10Y) Largest decline over 10 years	-27.75%	-30.56%	+2.81%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.70%	-3.69%	-3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.39%	+0.22%

Volatility

PALAX vs. SAWMX - Volatility Comparison

Virtus Global Allocation Fund (PALAX) has a higher volatility of 2.68% compared to SA Worldwide Moderate Growth Fund (SAWMX) at 2.03%. This indicates that PALAX's price experiences larger fluctuations and is considered to be riskier than SAWMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PALAX	SAWMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.03%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	5.53%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	8.55%	7.31%	+1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.85%	9.90%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	11.10%	+0.25%

PALAX vs. SAWMX - Expense Ratio Comparison

PALAX has a 0.52% expense ratio, which is higher than SAWMX's 0.00% expense ratio.

Dividends

PALAX vs. SAWMX - Dividend Comparison

PALAX's dividend yield for the trailing twelve months is around 8.31%, more than SAWMX's 5.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PALAX Virtus Global Allocation Fund	8.31%	6.94%	3.07%	2.60%	6.29%	9.15%	6.14%	10.09%	6.19%	10.69%	1.61%	5.30%
SAWMX SA Worldwide Moderate Growth Fund	5.38%	5.95%	3.34%	4.20%	8.36%	4.52%	4.88%	5.66%	6.82%	1.28%	1.96%	0.00%

Frequently Asked Questions

Can I hold both PALAX and SAWMX in my portfolio?

PALAX and SAWMX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PALAX or SAWMX?

PALAX has higher volatility (2.68%) compared to SAWMX (2.03%). In terms of maximum drawdown, PALAX dropped -44.59% vs SAWMX's -30.56%.

Which has better risk-adjusted returns?

SAWMX currently has the higher Sharpe Ratio (3.73 vs 2.73), 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.