TGCEX vs. TGDVX

Last updated Jun 24, 2026

TGCEX (TCW Select Equities Fund) and TGDVX (TCW Relative Value Large Cap Fund) are both mutual funds - TGCEX is a Large Cap Growth Equities fund managed by TCW, while TGDVX is a Large Cap Value Equities fund managed by TCW. Over the past 10 years, TGCEX returned 15.90%/yr vs 12.65%/yr for TGDVX. A 0.75 correlation means they provide meaningful diversification when combined. TGCEX charges 0.77%/yr vs 0.90%/yr for TGDVX.

Performance

TGCEX vs. TGDVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Select Equities Fund (TGCEX) and TCW Relative Value Large Cap Fund (TGDVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGCEX achieves a 0.43% return, which is significantly lower than TGDVX's 12.17% return. Over the past 10 years, TGCEX has outperformed TGDVX with an annualized return of 15.90%, while TGDVX has yielded a comparatively lower 12.65% annualized return.

TGCEX

• 1D: -1.63%
• 1M: -2.59%
• YTD: 0.43%
• 6M: -0.70%
• 1Y: 7.64%
• 3Y*: 18.53%
• 5Y*: 7.84%
• 10Y*: 15.90%

TGDVX

• 1D: 0.73%
• 1M: 0.48%
• YTD: 12.17%
• 6M: 11.48%
• 1Y: 29.16%
• 3Y*: 20.97%
• 5Y*: 13.38%
• 10Y*: 12.65%

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

TGCEX vs. TGDVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGCEX TCW Select Equities Fund	0.43%	10.77%	30.65%	44.34%	-36.51%	25.84%	39.32%	36.03%	2.42%	32.85%
TGDVX TCW Relative Value Large Cap Fund	12.17%	19.17%	18.29%	16.05%	-6.98%	29.16%	6.30%	25.79%	-17.00%	15.02%

Correlation

The correlation between TGCEX and TGDVX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.75

Over the past year, the correlation between TGCEX and TGDVX has dropped to 0.51 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

TGCEX vs. TGDVX — Risk / Return Rank

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

TGCEX

TGCEX Risk / Return Rank: 6
TGCEX Sharpe Ratio Rank: 7
TGCEX Sortino Ratio Rank: 7
TGCEX Omega Ratio Rank: 7
TGCEX Calmar Ratio Rank: 6
TGCEX Martin Ratio Rank: 6

TGDVX

TGDVX Risk / Return Rank: 81
TGDVX Sharpe Ratio Rank: 82
TGDVX Sortino Ratio Rank: 79
TGDVX Omega Ratio Rank: 74
TGDVX Calmar Ratio Rank: 86
TGDVX Martin Ratio Rank: 85

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.

TGCEX vs. TGDVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Select Equities Fund (TGCEX) and TCW Relative Value Large Cap Fund (TGDVX). 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.

	TGCEX	TGDVX	Difference
Sharpe ratio: Return per unit of total volatility	0.52	2.49	-1.97
Sortino ratio: Return per unit of downside risk	0.80	3.45	-2.65
Omega ratio: Gain probability vs. loss probability	1.10	1.44	-0.34
Calmar ratio: Return relative to maximum drawdown	0.44	3.91	-3.48
Martin ratio: Return relative to average drawdown	1.21	14.79	-13.58

TGCEX vs. TGDVX - Sharpe Ratio Comparison

The current TGCEX Sharpe Ratio is 0.52, which is lower than the TGDVX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of TGCEX and TGDVX, 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

TGCEX vs. TGDVX - Drawdown Comparison

The maximum TGCEX drawdown since its inception was -63.61%, roughly equal to the maximum TGDVX drawdown of -60.90%. Use the drawdown chart below to compare losses from any high point for TGCEX and TGDVX.

Drawdown Indicators

	TGCEX	TGDVX	Difference
Max Drawdown Largest peak-to-trough decline	-63.61%	-60.90%	-2.71%
Max Drawdown (1Y) Largest decline over 1 year	-20.31%	-7.78%	-12.53%
Max Drawdown (3Y) Largest decline over 3 years	-22.62%	-19.23%	-3.39%
Max Drawdown (5Y) Largest decline over 5 years	-42.96%	-21.40%	-21.56%
Max Drawdown (10Y) Largest decline over 10 years	-42.96%	-42.66%	-0.30%
Current Drawdown Current decline from peak	-6.15%	-1.01%	-5.14%
Average Drawdown Average peak-to-trough decline	-16.67%	-10.11%	-6.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.34%	2.05%	+5.29%

Volatility

TGCEX vs. TGDVX - Volatility Comparison

TCW Select Equities Fund (TGCEX) has a higher volatility of 6.63% compared to TCW Relative Value Large Cap Fund (TGDVX) at 4.00%. This indicates that TGCEX's price experiences larger fluctuations and is considered to be riskier than TGDVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGCEX	TGDVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	4.00%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	13.63%	9.26%	+4.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	12.27%	+5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.22%	16.82%	+6.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	19.39%	+3.22%

TGCEX vs. TGDVX - Expense Ratio Comparison

TGCEX has a 0.77% expense ratio, which is lower than TGDVX's 0.90% expense ratio.

Dividends

TGCEX vs. TGDVX - Dividend Comparison

TGCEX's dividend yield for the trailing twelve months is around 12.53%, less than TGDVX's 22.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGCEX TCW Select Equities Fund	12.53%	12.58%	15.71%	12.24%	20.14%	12.87%	7.11%	9.06%	16.70%	26.37%	6.68%	7.52%
TGDVX TCW Relative Value Large Cap Fund	22.24%	24.95%	6.80%	4.56%	6.93%	8.25%	8.40%	60.34%	14.36%	16.19%	6.77%	5.35%

Frequently Asked Questions

Can I hold both TGCEX and TGDVX in my portfolio?

TGCEX and TGDVX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGCEX or TGDVX?

TGCEX has higher volatility (6.63%) compared to TGDVX (4.00%). In terms of maximum drawdown, TGCEX dropped -63.61% vs TGDVX's -60.90%.

Which has better risk-adjusted returns?

TGDVX currently has the higher Sharpe Ratio (2.49 vs 0.52), 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.