SAGWX vs. TOHAX

Last updated Jun 5, 2026

SAGWX (Touchstone Small Company Fund) and TOHAX (Touchstone Core Municipal Bond Fund) are both mutual funds - SAGWX is a Small Cap Blend Equities fund managed by Touchstone, while TOHAX is a Municipal Bonds fund managed by Touchstone. Over the past 10 years, SAGWX returned 11.43%/yr vs 1.74%/yr for TOHAX. At a correlation of -0.06, they often move in opposite directions. SAGWX charges 1.17%/yr vs 0.82%/yr for TOHAX.

Performance

SAGWX vs. TOHAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Small Company Fund (SAGWX) and Touchstone Core Municipal Bond Fund (TOHAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAGWX achieves a 5.65% return, which is significantly higher than TOHAX's 1.05% return. Over the past 10 years, SAGWX has outperformed TOHAX with an annualized return of 11.43%, while TOHAX has yielded a comparatively lower 1.74% annualized return.

SAGWX

• 1D: -0.91%
• 1M: 1.08%
• YTD: 5.65%
• 6M: 4.57%
• 1Y: 17.94%
• 3Y*: 13.84%
• 5Y*: 6.25%
• 10Y*: 11.43%

TOHAX

• 1D: 0.00%
• 1M: 0.73%
• YTD: 1.05%
• 6M: 1.41%
• 1Y: 5.40%
• 3Y*: 3.36%
• 5Y*: 0.55%
• 10Y*: 1.74%

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

SAGWX vs. TOHAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAGWX Touchstone Small Company Fund	5.65%	9.58%	13.32%	15.71%	-14.64%	22.83%	17.58%	29.44%	-8.42%	17.32%
TOHAX Touchstone Core Municipal Bond Fund	1.05%	4.25%	1.57%	5.03%	-9.12%	1.16%	5.19%	6.76%	0.65%	4.01%

Correlation

The correlation between SAGWX and TOHAX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Mar 1, 1993	-0.06

The correlation between SAGWX and TOHAX shifts across timeframes, from -0.06 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SAGWX vs. TOHAX — Risk / Return Rank

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

SAGWX

SAGWX Risk / Return Rank: 21
SAGWX Sharpe Ratio Rank: 18
SAGWX Sortino Ratio Rank: 19
SAGWX Omega Ratio Rank: 16
SAGWX Calmar Ratio Rank: 27
SAGWX Martin Ratio Rank: 26

TOHAX

TOHAX Risk / Return Rank: 57
TOHAX Sharpe Ratio Rank: 63
TOHAX Sortino Ratio Rank: 72
TOHAX Omega Ratio Rank: 84
TOHAX Calmar Ratio Rank: 32
TOHAX Martin Ratio Rank: 35

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.

SAGWX vs. TOHAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Small Company Fund (SAGWX) and Touchstone Core Municipal Bond Fund (TOHAX). 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.

	SAGWX	TOHAX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.28	-1.11
Sortino ratio: Return per unit of downside risk	1.79	3.49	-1.70
Omega ratio: Gain probability vs. loss probability	1.21	1.56	-0.35
Calmar ratio: Return relative to maximum drawdown	1.88	2.05	-0.17
Martin ratio: Return relative to average drawdown	6.20	7.52	-1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAGWX vs. TOHAX - Sharpe Ratio Comparison

The current SAGWX Sharpe Ratio is 1.18, which is lower than the TOHAX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of SAGWX and TOHAX, 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

	SAGWX	TOHAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.28	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.15	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.50	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.96	-0.43

Drawdowns

SAGWX vs. TOHAX - Drawdown Comparison

The maximum SAGWX drawdown since its inception was -51.87%, which is greater than TOHAX's maximum drawdown of -13.74%. Use the drawdown chart below to compare losses from any high point for SAGWX and TOHAX.

Drawdown Indicators

	SAGWX	TOHAX	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-13.74%	-38.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.60%	-2.74%	-6.86%
Max Drawdown (3Y) Largest decline over 3 years	-22.69%	-5.50%	-17.19%
Max Drawdown (5Y) Largest decline over 5 years	-37.07%	-13.74%	-23.33%
Max Drawdown (10Y) Largest decline over 10 years	-41.75%	-13.74%	-28.01%
Current Drawdown Current decline from peak	-1.06%	-0.32%	-0.74%
Average Drawdown Average peak-to-trough decline	-8.88%	-2.19%	-6.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	0.75%	+2.15%

Volatility

SAGWX vs. TOHAX - Volatility Comparison

Touchstone Small Company Fund (SAGWX) has a higher volatility of 4.34% compared to Touchstone Core Municipal Bond Fund (TOHAX) at 1.02%. This indicates that SAGWX's price experiences larger fluctuations and is considered to be riskier than TOHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAGWX	TOHAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	1.02%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	1.95%	+8.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.35%	2.47%	+12.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.86%	3.56%	+19.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.64%	3.51%	+19.13%

SAGWX vs. TOHAX - Expense Ratio Comparison

SAGWX has a 1.17% expense ratio, which is higher than TOHAX's 0.82% expense ratio.

Dividends

SAGWX vs. TOHAX - Dividend Comparison

SAGWX's dividend yield for the trailing twelve months is around 5.51%, more than TOHAX's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SAGWX Touchstone Small Company Fund	5.51%	5.82%	6.03%	0.15%	2.57%	19.71%	0.10%	11.83%	14.83%	9.03%	8.71%	21.16%
TOHAX Touchstone Core Municipal Bond Fund	2.80%	3.93%	2.85%	2.08%	1.30%	1.91%	2.91%	3.13%	2.92%	2.97%	3.20%	3.32%

Frequently Asked Questions

Can I hold both SAGWX and TOHAX in my portfolio?

SAGWX and TOHAX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAGWX or TOHAX?

SAGWX has higher volatility (4.34%) compared to TOHAX (1.02%). In terms of maximum drawdown, SAGWX dropped -51.87% vs TOHAX's -13.74%.

Which has better risk-adjusted returns?

TOHAX currently has the higher Sharpe Ratio (2.28 vs 1.18), 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.