TAVFX vs. GQFPX

Last updated Aug 1, 2026

TAVFX (Third Avenue Value Fund) and GQFPX (GQG Partners Global Quality Dividend Income Fund) are both mutual funds - TAVFX is a Global Equities fund managed by Third Avenue, while GQFPX is a Quality Factor fund managed by GQG Partners. Over the past 5 years, TAVFX returned 16.88%/yr vs 10.72%/yr for GQFPX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. TAVFX charges 1.15%/yr vs 0.86%/yr for GQFPX.

Performance

TAVFX vs. GQFPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Third Avenue Value Fund (TAVFX) and GQG Partners Global Quality Dividend Income Fund (GQFPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAVFX achieves a 15.50% return, which is significantly higher than GQFPX's 11.60% return.

TAVFX

• 1D: 1.59%
• 1M: 4.97%
• 6M: 7.17%
• YTD: 15.50%
• 1Y: 39.49%
• 3Y*: 15.69%
• 5Y*: 16.88%
• 10Y*: 10.76%
• ALL TIME*: 10.45%

GQFPX

• 1D: -0.07%
• 1M: 3.13%
• 6M: 4.87%
• YTD: 11.60%
• 1Y: 18.02%
• 3Y*: 13.78%
• 5Y*: 10.72%
• 10Y*: —
• ALL TIME*: 10.59%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GQFPX GQG Partners Global Quality Dividend Income Fund	$0.00	$0.00	$0.00
TAVFX Third Avenue Value Fund	$0.00	$0.00	$0.00

TAVFX vs. GQFPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TAVFX Third Avenue Value Fund	15.50%	35.93%	-2.43%	20.26%	17.46%	-2.29%
GQFPX GQG Partners Global Quality Dividend Income Fund	11.60%	19.29%	4.81%	15.09%	-1.13%	5.03%

Correlation

The correlation between TAVFX and GQFPX is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.64

Over the past year, the correlation between TAVFX and GQFPX has dropped to 0.35 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

TAVFX vs. GQFPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TAVFX

TAVFX Risk / Return Rank: 90
TAVFX Sharpe Ratio Rank: 94
TAVFX Sortino Ratio Rank: 90
TAVFX Omega Ratio Rank: 86
TAVFX Calmar Ratio Rank: 90
TAVFX Martin Ratio Rank: 90

GQFPX

GQFPX Risk / Return Rank: 70
GQFPX Sharpe Ratio Rank: 74
GQFPX Sortino Ratio Rank: 73
GQFPX Omega Ratio Rank: 68
GQFPX Calmar Ratio Rank: 83
GQFPX Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TAVFX vs. GQFPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Third Avenue Value Fund (TAVFX) and GQG Partners Global Quality Dividend Income Fund (GQFPX). 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.

	TAVFX	GQFPX	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.73	+0.77
Sortino ratio: Return per unit of downside risk	3.37	2.48	+0.89
Omega ratio: Gain probability vs. loss probability	1.43	1.30	+0.14
Calmar ratio: Return relative to maximum drawdown	3.36	2.80	+0.56
Martin ratio: Return relative to average drawdown	12.35	7.14	+5.21

TAVFX vs. GQFPX - Sharpe Ratio Comparison

The current TAVFX Sharpe Ratio is 2.50, which is higher than the GQFPX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of TAVFX and GQFPX, 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

TAVFX vs. GQFPX - Drawdown Comparison

The maximum TAVFX drawdown since its inception was -66.11%, which is greater than GQFPX's maximum drawdown of -16.95%. Use the drawdown chart below to compare losses from any high point for TAVFX and GQFPX.

Drawdown Indicators

	TAVFX	GQFPX	Difference
Max Drawdown Largest peak-to-trough decline	-66.11%	-16.95%	-49.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-6.28%	-5.20%
Max Drawdown (3Y) Largest decline over 3 years	-66.11%	-10.57%	-55.54%
Max Drawdown (5Y) Largest decline over 5 years	-66.11%	-16.95%	-49.16%
Max Drawdown (10Y) Largest decline over 10 years	-66.11%	—	—
Current Drawdown Current decline from peak	-0.67%	-1.46%	+0.79%
Average Drawdown Average peak-to-trough decline	-9.55%	-3.03%	-6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	2.45%	+0.67%

Volatility

TAVFX vs. GQFPX - Volatility Comparison

Third Avenue Value Fund (TAVFX) has a higher volatility of 4.07% compared to GQG Partners Global Quality Dividend Income Fund (GQFPX) at 3.28%. This indicates that TAVFX's price experiences larger fluctuations and is considered to be riskier than GQFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAVFX	GQFPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.28%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	11.84%	8.32%	+3.52%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	10.18%	+5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.99%	12.78%	+69.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.27%	12.81%	+47.46%

TAVFX vs. GQFPX - Expense Ratio Comparison

TAVFX has a 1.15% expense ratio, which is higher than GQFPX's 0.86% expense ratio.

Dividends

TAVFX vs. GQFPX - Dividend Comparison

TAVFX's dividend yield for the trailing twelve months is around 6.00%, more than GQFPX's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQFPX GQG Partners Global Quality Dividend Income Fund	5.52%	5.32%	3.71%	3.69%	5.18%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAVFX Third Avenue Value Fund	6.00%	6.93%	9.86%	4.48%	5.67%	3.74%	0.70%	5.95%	4.45%	3.03%	8.24%	8.43%

Frequently Asked Questions

Can I hold both TAVFX and GQFPX in my portfolio?

TAVFX and GQFPX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAVFX or GQFPX?

TAVFX has higher volatility (4.07%) compared to GQFPX (3.28%). In terms of maximum drawdown, TAVFX dropped -66.11% vs GQFPX's -16.95%.

Which has better risk-adjusted returns?

TAVFX currently has the higher Sharpe Ratio (2.50 vs 1.73), 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.