TGVAX vs. PZRIX
Compare and contrast key facts about Thornburg International Equity Fund (TGVAX) and PIMCO RAE Global ex-US Fund (PZRIX).
TGVAX is managed by Thornburg. It was launched on May 28, 1998. PZRIX is managed by PIMCO. It was launched on Jun 4, 2015.
Performance
TGVAX vs. PZRIX - Performance Comparison
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TGVAX vs. PZRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TGVAX Thornburg International Equity Fund | 3.01% | 33.81% | 11.24% | 15.77% | -17.04% | 7.25% | 22.59% | 28.67% | -20.08% | 25.03% |
PZRIX PIMCO RAE Global ex-US Fund | 9.93% | 34.05% | 3.29% | 19.31% | -9.11% | 12.08% | 1.74% | 15.94% | -14.93% | 26.00% |
Returns By Period
In the year-to-date period, TGVAX achieves a 3.01% return, which is significantly lower than PZRIX's 9.93% return. Both investments have delivered pretty close results over the past 10 years, with TGVAX having a 9.85% annualized return and PZRIX not far ahead at 10.15%.
TGVAX
- 1D
- 2.44%
- 1M
- -6.16%
- YTD
- 3.01%
- 6M
- 6.88%
- 1Y
- 25.17%
- 3Y*
- 18.03%
- 5Y*
- 8.40%
- 10Y*
- 9.85%
PZRIX
- 1D
- 1.89%
- 1M
- -4.32%
- YTD
- 9.93%
- 6M
- 17.91%
- 1Y
- 37.11%
- 3Y*
- 19.65%
- 5Y*
- 10.81%
- 10Y*
- 10.15%
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TGVAX vs. PZRIX - Expense Ratio Comparison
TGVAX has a 1.25% expense ratio, which is higher than PZRIX's 0.00% expense ratio.
Return for Risk
TGVAX vs. PZRIX — Risk / Return Rank
TGVAX
PZRIX
TGVAX vs. PZRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg International Equity Fund (TGVAX) and PIMCO RAE Global ex-US Fund (PZRIX). 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.
| TGVAX | PZRIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.74 | 2.67 | -0.94 |
Sortino ratioReturn per unit of downside risk | 2.28 | 3.39 | -1.12 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.52 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.09 | -0.75 |
Martin ratioReturn relative to average drawdown | 8.68 | 14.29 | -5.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TGVAX | PZRIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 2.67 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.69 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.60 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.59 | -0.07 |
Correlation
The correlation between TGVAX and PZRIX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TGVAX vs. PZRIX - Dividend Comparison
TGVAX's dividend yield for the trailing twelve months is around 3.44%, less than PZRIX's 5.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TGVAX Thornburg International Equity Fund | 3.44% | 3.54% | 6.90% | 2.23% | 1.69% | 14.24% | 2.98% | 6.60% | 1.45% | 17.24% | 1.67% | 18.63% |
PZRIX PIMCO RAE Global ex-US Fund | 5.96% | 6.56% | 6.70% | 9.19% | 8.80% | 11.99% | 2.04% | 6.32% | 2.80% | 4.13% | 2.58% | 0.00% |
Drawdowns
TGVAX vs. PZRIX - Drawdown Comparison
The maximum TGVAX drawdown since its inception was -56.44%, which is greater than PZRIX's maximum drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for TGVAX and PZRIX.
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Drawdown Indicators
| TGVAX | PZRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.44% | -43.53% | -12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -10.68% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -39.96% | -30.85% | -9.11% |
Max Drawdown (10Y)Largest decline over 10 years | -39.96% | -43.53% | +3.57% |
Current DrawdownCurrent decline from peak | -8.15% | -5.20% | -2.95% |
Average DrawdownAverage peak-to-trough decline | -12.52% | -9.00% | -3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.45% | +0.34% |
Volatility
TGVAX vs. PZRIX - Volatility Comparison
Thornburg International Equity Fund (TGVAX) has a higher volatility of 5.73% compared to PIMCO RAE Global ex-US Fund (PZRIX) at 5.45%. This indicates that TGVAX's price experiences larger fluctuations and is considered to be riskier than PZRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGVAX | PZRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 5.45% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 8.92% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.80% | 14.17% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.56% | 15.85% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.67% | 17.02% | -0.35% |