SAWMX vs. PALAX

Last updated Jun 4, 2026

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

Performance

SAWMX vs. PALAX - Performance Comparison

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

Returns By Period

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

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%

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%

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

SAWMX vs. PALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

SAWMX vs. PALAX — Risk / Return Rank

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

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

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

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.

SAWMX vs. PALAX - Risk-Adjusted Trends Comparison

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

	SAWMX	PALAX	Difference
Sharpe ratio: Return per unit of total volatility	3.73	2.73	+1.00
Sortino ratio: Return per unit of downside risk	5.49	3.82	+1.67
Omega ratio: Gain probability vs. loss probability	1.72	1.52	+0.20
Calmar ratio: Return relative to maximum drawdown	4.72	3.37	+1.35
Martin ratio: Return relative to average drawdown	18.74	14.53	+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.

SAWMX vs. PALAX - Sharpe Ratio Comparison

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

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

Drawdowns

SAWMX vs. PALAX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

SAWMX vs. PALAX - Volatility Comparison

The current volatility for SA Worldwide Moderate Growth Fund (SAWMX) is 2.03%, while Virtus Global Allocation Fund (PALAX) has a volatility of 2.68%. This indicates that SAWMX experiences smaller price fluctuations and is considered to be less risky than PALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

SAWMX vs. PALAX - Expense Ratio Comparison

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

Dividends

SAWMX vs. PALAX - Dividend Comparison

SAWMX's dividend yield for the trailing twelve months is around 5.38%, less than PALAX's 8.31% 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 SAWMX and PALAX in my portfolio?

SAWMX and PALAX 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, SAWMX or PALAX?

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

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.