TAVFX vs. TASCX
TAVFX (Third Avenue Value Fund) and TASCX (Third Avenue Small Cap Value Fund) are both mutual funds - TAVFX is a Global Equities fund managed by Third Avenue, while TASCX is a Small Cap Value Equities fund managed by Third Avenue. Over the past 10 years, TAVFX returned 11.06%/yr vs 11.00%/yr for TASCX. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 1.15% expense ratio.
Performance
TAVFX vs. TASCX - Performance Comparison
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Returns By Period
In the year-to-date period, TAVFX achieves a 10.91% return, which is significantly lower than TASCX's 16.38% return. Both investments have delivered pretty close results over the past 10 years, with TAVFX having a 11.06% annualized return and TASCX not far behind at 11.00%.
TAVFX
- 1D
- -0.31%
- 1M
- -2.08%
- YTD
- 10.91%
- 6M
- 10.76%
- 1Y
- 38.11%
- 3Y*
- 18.25%
- 5Y*
- 15.02%
- 10Y*
- 11.06%
TASCX
- 1D
- 0.00%
- 1M
- 1.35%
- YTD
- 16.38%
- 6M
- 14.39%
- 1Y
- 31.55%
- 3Y*
- 17.24%
- 5Y*
- 11.39%
- 10Y*
- 11.00%
TAVFX vs. TASCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAVFX Third Avenue Value Fund | 10.91% | 35.93% | -2.43% | 20.26% | 17.46% | 22.39% | 7.76% | 12.95% | -25.95% | 8.81% |
TASCX Third Avenue Small Cap Value Fund | 16.38% | 14.79% | 3.04% | 22.49% | -1.87% | 25.92% | -2.96% | 22.92% | -12.55% | 8.89% |
Correlation
The correlation between TAVFX and TASCX is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 1997 | 0.79 |
The correlation between TAVFX and TASCX shifts across timeframes, from 0.60 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TAVFX vs. TASCX — Risk / Return Rank
TAVFX
TASCX
TAVFX vs. TASCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Third Avenue Value Fund (TAVFX) and Third Avenue Small Cap Value Fund (TASCX). 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 | TASCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.40 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 5.19 | -1.85 |
| Martin ratioReturn relative to average drawdown | 13.26 | 16.34 | -3.08 |
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Drawdowns
TAVFX vs. TASCX - Drawdown Comparison
The maximum TAVFX drawdown since its inception was -66.11%, which is greater than TASCX's maximum drawdown of -58.55%. Use the drawdown chart below to compare losses from any high point for TAVFX and TASCX.
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Drawdown Indicators
| TAVFX | TASCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.11% | -58.55% | -7.56% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -6.29% | -5.19% |
Max Drawdown (3Y)Largest decline over 3 years | -66.11% | -30.26% | -35.85% |
Max Drawdown (5Y)Largest decline over 5 years | -66.11% | -30.26% | -35.85% |
Max Drawdown (10Y)Largest decline over 10 years | -66.11% | -40.45% | -25.66% |
Current DrawdownCurrent decline from peak | -4.62% | -1.64% | -2.98% |
Average DrawdownAverage peak-to-trough decline | -9.56% | -8.60% | -0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.00% | +0.89% |
Volatility
TAVFX vs. TASCX - Volatility Comparison
Third Avenue Value Fund (TAVFX) has a higher volatility of 5.15% compared to Third Avenue Small Cap Value Fund (TASCX) at 2.97%. This indicates that TAVFX's price experiences larger fluctuations and is considered to be riskier than TASCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAVFX | TASCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 2.97% | +2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 9.04% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 14.31% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.03% | 25.34% | +56.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.33% | 24.14% | +36.19% |
TAVFX vs. TASCX - Expense Ratio Comparison
Both TAVFX and TASCX have an expense ratio of 1.15%.
Dividends
TAVFX vs. TASCX - Dividend Comparison
TAVFX's dividend yield for the trailing twelve months is around 6.25%, more than TASCX's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TASCX Third Avenue Small Cap Value Fund | 3.24% | 3.78% | 11.87% | 14.38% | 5.40% | 8.55% | 1.50% | 7.75% | 12.67% | 13.61% | 9.15% | 14.70% |
TAVFX Third Avenue Value Fund | 6.25% | 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
TAVFX and TASCX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAVFX has higher volatility (5.15%) compared to TASCX (2.97%). In terms of maximum drawdown, TAVFX dropped -66.11% vs TASCX's -58.55%.
TAVFX currently has the higher Sharpe Ratio (2.43 vs 2.29), 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.
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