TGDVX vs. TMMAX
TGDVX (TCW Relative Value Large Cap Fund) and TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) are both mutual funds - TGDVX is a Large Cap Value Equities fund managed by TCW, while TMMAX is a Low Volatility fund managed by BlackRock. Over the past 10 years, TGDVX returned 11.99%/yr vs 9.93%/yr for TMMAX. Their correlation of 0.85 means they have usually moved in the same direction. TGDVX charges 0.90%/yr vs 1.00%/yr for TMMAX.
Performance
TGDVX vs. TMMAX - Performance Comparison
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Returns By Period
In the year-to-date period, TGDVX achieves a 12.91% return, which is significantly higher than TMMAX's 8.33% return. Over the past 10 years, TGDVX has outperformed TMMAX with an annualized return of 11.99%, while TMMAX has yielded a comparatively lower 9.93% annualized return.
TGDVX
- 1D
- 1.77%
- 1M
- 1.89%
- 6M
- 9.58%
- YTD
- 12.91%
- 1Y
- 27.71%
- 3Y*
- 18.25%
- 5Y*
- 13.09%
- 10Y*
- 11.99%
- ALL TIME*
- 7.98%
TMMAX
- 1D
- -1.22%
- 1M
- 2.01%
- 6M
- 5.67%
- YTD
- 8.33%
- 1Y
- 13.78%
- 3Y*
- 13.06%
- 5Y*
- 9.78%
- 10Y*
- 9.93%
- ALL TIME*
- 9.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TGDVX vs. TMMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TGDVX TCW Relative Value Large Cap Fund | 12.91% | 19.17% | 18.29% | 16.05% | -6.98% | 29.16% | 6.30% | 25.79% | -17.00% | 15.02% |
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 8.33% | 11.03% | 17.07% | 7.32% | -3.11% | 24.10% | 1.32% | 24.00% | -2.84% | 15.19% |
Correlation
The correlation between TGDVX and TMMAX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Dec 21, 2007 | 0.85 |
Over the past year, the correlation between TGDVX and TMMAX has dropped to 0.59 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
TGDVX vs. TMMAX — Risk / Return Rank
TGDVX
TMMAX
TGDVX vs. TMMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Relative Value Large Cap Fund (TGDVX) and SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX). 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.
| TGDVX | TMMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 2.22 | +1.10 |
| Martin ratioReturn relative to average drawdown | 12.71 | 7.56 | +5.15 |
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Drawdowns
TGDVX vs. TMMAX - Drawdown Comparison
The maximum TGDVX drawdown since its inception was -60.90%, which is greater than TMMAX's maximum drawdown of -41.50%. Use the drawdown chart below to compare losses from any high point for TGDVX and TMMAX.
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Drawdown Indicators
| TGDVX | TMMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.90% | -41.50% | -19.40% |
Max Drawdown (1Y)Largest decline over 1 year | -7.78% | -5.78% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -19.23% | -23.00% | +3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -23.00% | +1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -42.66% | -33.41% | -9.25% |
Current DrawdownCurrent decline from peak | -0.36% | -3.38% | +3.02% |
Average DrawdownAverage peak-to-trough decline | -10.08% | -5.57% | -4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 1.69% | +0.34% |
Volatility
TGDVX vs. TMMAX - Volatility Comparison
The current volatility for TCW Relative Value Large Cap Fund (TGDVX) is 2.83%, while SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) has a volatility of 3.98%. This indicates that TGDVX experiences smaller price fluctuations and is considered to be less risky than TMMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGDVX | TMMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 3.98% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 9.09% | 7.18% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 8.95% | +3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 19.13% | -2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 17.83% | +1.46% |
TGDVX vs. TMMAX - Expense Ratio Comparison
TGDVX has a 0.90% expense ratio, which is lower than TMMAX's 1.00% expense ratio.
Dividends
TGDVX vs. TMMAX - Dividend Comparison
TGDVX's dividend yield for the trailing twelve months is around 22.09%, less than TMMAX's 23.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TGDVX TCW Relative Value Large Cap Fund | 22.09% | 24.95% | 6.80% | 4.56% | 6.93% | 8.25% | 8.40% | 60.34% | 14.36% | 16.19% | 6.77% | 5.35% |
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 23.27% | 25.19% | 23.39% | 15.23% | 6.54% | 4.73% | 2.15% | 3.67% | 4.91% | 4.10% | 4.17% | 5.57% |
Frequently Asked Questions
TGDVX and TMMAX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMMAX has higher volatility (3.98%) compared to TGDVX (2.83%). In terms of maximum drawdown, TGDVX dropped -60.90% vs TMMAX's -41.50%.
TGDVX currently has the higher Sharpe Ratio (2.11 vs 1.44), 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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