SWRLX vs. TGVIX

Last updated Jun 3, 2026

SWRLX (Touchstone International Equity Fund) and TGVIX (Thornburg International Equity I) are both Foreign Large Cap Equities funds. Over the past 10 years, SWRLX returned 10.69%/yr vs 10.64%/yr for TGVIX. Their correlation of 0.84 suggests significant overlap in exposure. SWRLX charges 1.37%/yr vs 0.90%/yr for TGVIX.

Performance

SWRLX vs. TGVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone International Equity Fund (SWRLX) and Thornburg International Equity I (TGVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWRLX achieves a 21.39% return, which is significantly higher than TGVIX's 10.87% return. Both investments have delivered pretty close results over the past 10 years, with SWRLX having a 10.69% annualized return and TGVIX not far behind at 10.64%.

SWRLX

• 1D: 0.37%
• 1M: 7.25%
• YTD: 21.39%
• 6M: 26.24%
• 1Y: 49.51%
• 3Y*: 24.68%
• 5Y*: 12.13%
• 10Y*: 10.69%

TGVIX

• 1D: 0.16%
• 1M: 2.44%
• YTD: 10.87%
• 6M: 13.55%
• 1Y: 24.44%
• 3Y*: 20.78%
• 5Y*: 8.92%
• 10Y*: 10.64%

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

SWRLX vs. TGVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWRLX Touchstone International Equity Fund	21.39%	53.78%	-1.53%	17.63%	-11.02%	3.86%	7.47%	25.87%	-16.81%	27.24%
TGVIX Thornburg International Equity I	10.87%	34.20%	11.60%	16.01%	-16.74%	7.59%	22.64%	29.09%	-19.85%	25.52%

Correlation

The correlation between SWRLX and TGVIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Apr 2, 2001	0.84

The correlation between SWRLX and TGVIX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

SWRLX vs. TGVIX — Risk / Return Rank

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

SWRLX

SWRLX Risk / Return Rank: 91
SWRLX Sharpe Ratio Rank: 97
SWRLX Sortino Ratio Rank: 92
SWRLX Omega Ratio Rank: 91
SWRLX Calmar Ratio Rank: 89
SWRLX Martin Ratio Rank: 87

TGVIX

TGVIX Risk / Return Rank: 44
TGVIX Sharpe Ratio Rank: 49
TGVIX Sortino Ratio Rank: 46
TGVIX Omega Ratio Rank: 48
TGVIX Calmar Ratio Rank: 40
TGVIX Martin Ratio Rank: 40

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.

SWRLX vs. TGVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone International Equity Fund (SWRLX) and Thornburg International Equity I (TGVIX). 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.

	SWRLX	TGVIX	Difference
Sharpe ratio Return per unit of total volatility	3.60	2.05	+1.55
Sortino ratio Return per unit of downside risk	4.64	2.86	+1.78
Omega ratio Gain probability vs. loss probability	1.66	1.38	+0.29
Calmar ratio Return relative to maximum drawdown	4.46	2.42	+2.04
Martin ratio Return relative to average drawdown	16.75	8.56	+8.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWRLX vs. TGVIX - Sharpe Ratio Comparison

The current SWRLX Sharpe Ratio is 3.60, which is higher than the TGVIX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SWRLX and TGVIX, 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

	SWRLX	TGVIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.60	2.05	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.54	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.64	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.51	-0.09

Drawdowns

SWRLX vs. TGVIX - Drawdown Comparison

The maximum SWRLX drawdown since its inception was -59.44%, which is greater than TGVIX's maximum drawdown of -56.19%. Use the drawdown chart below to compare losses from any high point for SWRLX and TGVIX.

Drawdown Indicators

	SWRLX	TGVIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.44%	-56.19%	-3.25%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-10.32%	-1.17%
Max Drawdown (3Y) Largest decline over 3 years	-14.08%	-12.03%	-2.05%
Max Drawdown (5Y) Largest decline over 5 years	-34.19%	-39.46%	+5.27%
Max Drawdown (10Y) Largest decline over 10 years	-35.95%	-39.46%	+3.51%
Current Drawdown Current decline from peak	0.00%	-1.19%	+1.19%
Average Drawdown Average peak-to-trough decline	-11.63%	-12.11%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.92%	+0.14%

Volatility

SWRLX vs. TGVIX - Volatility Comparison

Touchstone International Equity Fund (SWRLX) has a higher volatility of 4.72% compared to Thornburg International Equity I (TGVIX) at 3.76%. This indicates that SWRLX's price experiences larger fluctuations and is considered to be riskier than TGVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWRLX	TGVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	3.76%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	9.93%	+1.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.27%	12.35%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	16.50%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	16.68%	+0.17%

SWRLX vs. TGVIX - Expense Ratio Comparison

SWRLX has a 1.37% expense ratio, which is higher than TGVIX's 0.90% expense ratio.

Dividends

SWRLX vs. TGVIX - Dividend Comparison

SWRLX's dividend yield for the trailing twelve months is around 6.29%, more than TGVIX's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWRLX Touchstone International Equity Fund	6.29%	7.63%	10.53%	1.36%	1.56%	14.95%	0.46%	9.10%	15.19%	3.61%	0.66%	3.76%
TGVIX Thornburg International Equity I	3.31%	3.67%	6.91%	2.37%	2.01%	14.20%	3.11%	6.36%	1.76%	17.06%	1.90%	18.62%

Frequently Asked Questions

Can I hold both SWRLX and TGVIX in my portfolio?

SWRLX and TGVIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWRLX or TGVIX?

SWRLX has higher volatility (4.72%) compared to TGVIX (3.76%). In terms of maximum drawdown, SWRLX dropped -59.44% vs TGVIX's -56.19%.

Which has better risk-adjusted returns?

SWRLX currently has the higher Sharpe Ratio (3.60 vs 2.05), 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.