TCPYX vs. SBI
TCPYX (Touchstone Impact Bond Fund) and SBI (Western Asset Intermediate Muni Fund Inc.) are both Intermediate Core Bond funds. Over the past 10 years, TCPYX returned 1.36%/yr vs 1.25%/yr for SBI. Their 0.23 correlation means their historical movements had little consistent relationship.
Performance
TCPYX vs. SBI - Performance Comparison
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Returns By Period
In the year-to-date period, TCPYX achieves a -0.04% return, which is significantly lower than SBI's 2.77% return. Over the past 10 years, TCPYX has outperformed SBI with an annualized return of 1.36%, while SBI has yielded a comparatively lower 1.25% annualized return.
TCPYX
- 1D
- -0.34%
- 1M
- -0.78%
- 6M
- -0.27%
- YTD
- -0.04%
- 1Y
- 2.43%
- 3Y*
- 4.08%
- 5Y*
- -0.46%
- 10Y*
- 1.36%
- ALL TIME*
- 2.92%
SBI
- 1D
- 0.13%
- 1M
- -2.53%
- 6M
- -0.06%
- YTD
- 2.77%
- 1Y
- 6.27%
- 3Y*
- 5.85%
- 5Y*
- 0.04%
- 10Y*
- 1.25%
- ALL TIME*
- 3.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $556.11K | $521.21K | $405.09K | |
| $0.00 | $0.00 | $0.00 |
TCPYX vs. SBI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TCPYX Touchstone Impact Bond Fund | -0.04% | 6.75% | 1.77% | 5.32% | -13.07% | -1.01% | 6.72% | 7.91% | 0.16% | 3.94% |
SBI Western Asset Intermediate Muni Fund Inc. | 2.77% | 5.95% | 6.83% | 5.37% | -18.45% | 7.91% | 4.62% | 12.78% | -6.59% | 2.42% |
Correlation
The correlation between TCPYX and SBI is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009 | 0.23 |
The correlation between TCPYX and SBI shifts across timeframes, from 0.23 (all time) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TCPYX vs. SBI — Risk / Return Rank
TCPYX
SBI
TCPYX vs. SBI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Impact Bond Fund (TCPYX) and Western Asset Intermediate Muni Fund Inc. (SBI). 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.
| TCPYX | SBI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.53 | -0.38 |
| Martin ratioReturn relative to average drawdown | 2.95 | 5.14 | -2.20 |
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Drawdowns
TCPYX vs. SBI - Drawdown Comparison
The maximum TCPYX drawdown since its inception was -18.12%, smaller than the maximum SBI drawdown of -33.70%. Use the drawdown chart below to compare losses from any high point for TCPYX and SBI.
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Drawdown Indicators
| TCPYX | SBI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.12% | -33.70% | +15.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -4.77% | +1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.99% | -7.91% | +2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -25.21% | +7.09% |
Max Drawdown (10Y)Largest decline over 10 years | -18.12% | -25.21% | +7.09% |
Current DrawdownCurrent decline from peak | -2.53% | -2.90% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -7.66% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 1.41% | -0.28% |
Volatility
TCPYX vs. SBI - Volatility Comparison
The current volatility for Touchstone Impact Bond Fund (TCPYX) is 0.99%, while Western Asset Intermediate Muni Fund Inc. (SBI) has a volatility of 1.72%. This indicates that TCPYX experiences smaller price fluctuations and is considered to be less risky than SBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCPYX | SBI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.72% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 5.22% | -2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 6.82% | -3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.89% | 8.86% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 9.69% | -4.84% |
Dividends
TCPYX vs. SBI - Dividend Comparison
TCPYX's dividend yield for the trailing twelve months is around 4.03%, less than SBI's 6.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBI Western Asset Intermediate Muni Fund Inc. | 6.63% | 6.56% | 6.23% | 3.76% | 3.72% | 2.93% | 3.07% | 3.59% | 4.32% | 4.58% | 5.01% | 4.70% |
TCPYX Touchstone Impact Bond Fund | 4.03% | 3.52% | 3.68% | 3.22% | 2.63% | 1.91% | 2.13% | 2.63% | 2.86% | 2.77% | 2.98% | 2.91% |
Frequently Asked Questions
TCPYX and SBI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBI has higher volatility (1.72%) compared to TCPYX (0.99%). In terms of maximum drawdown, TCPYX dropped -18.12% vs SBI's -33.70%.
SBI currently has the higher Sharpe Ratio (1.07 vs 0.88), 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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