TGVFX vs. MXIIX

Last updated Jun 5, 2026

TGVFX (Touchstone Growth Opportunities Fund) and MXIIX (Touchstone Flexible Income Fund) are both mutual funds - TGVFX is a Large Cap Growth Equities fund managed by Touchstone, while MXIIX is a Multisector Bonds fund managed by Touchstone. Over the past 10 years, TGVFX returned 19.73%/yr vs 3.61%/yr for MXIIX. At a 0.32 correlation, their price movements are largely independent. TGVFX charges 1.25%/yr vs 0.79%/yr for MXIIX.

Performance

TGVFX vs. MXIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Growth Opportunities Fund (TGVFX) and Touchstone Flexible Income Fund (MXIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGVFX achieves a 7.52% return, which is significantly higher than MXIIX's 0.99% return. Over the past 10 years, TGVFX has outperformed MXIIX with an annualized return of 19.73%, while MXIIX has yielded a comparatively lower 3.61% annualized return.

TGVFX

• 1D: -1.29%
• 1M: 5.25%
• YTD: 7.52%
• 6M: 6.75%
• 1Y: 26.00%
• 3Y*: 24.67%
• 5Y*: 13.97%
• 10Y*: 19.73%

MXIIX

• 1D: -0.19%
• 1M: 0.27%
• YTD: 0.99%
• 6M: 1.11%
• 1Y: 5.43%
• 3Y*: 5.84%
• 5Y*: 2.44%
• 10Y*: 3.61%

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

TGVFX vs. MXIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGVFX Touchstone Growth Opportunities Fund	7.52%	17.61%	32.50%	42.73%	-28.62%	22.55%	33.12%	72.37%	-4.05%	28.05%
MXIIX Touchstone Flexible Income Fund	0.99%	6.11%	4.82%	7.96%	-8.14%	3.17%	8.15%	8.73%	-1.47%	6.75%

Correlation

The correlation between TGVFX and MXIIX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 21, 1998	0.32

The correlation between TGVFX and MXIIX shifts across timeframes, from 0.17 (3 years) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TGVFX vs. MXIIX — Risk / Return Rank

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

TGVFX

TGVFX Risk / Return Rank: 29
TGVFX Sharpe Ratio Rank: 35
TGVFX Sortino Ratio Rank: 32
TGVFX Omega Ratio Rank: 32
TGVFX Calmar Ratio Rank: 22
TGVFX Martin Ratio Rank: 23

MXIIX

MXIIX Risk / Return Rank: 39
MXIIX Sharpe Ratio Rank: 40
MXIIX Sortino Ratio Rank: 43
MXIIX Omega Ratio Rank: 41
MXIIX Calmar Ratio Rank: 37
MXIIX Martin Ratio Rank: 35

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.

TGVFX vs. MXIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Growth Opportunities Fund (TGVFX) and Touchstone Flexible Income Fund (MXIIX). 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.

	TGVFX	MXIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.79	-0.12
Sortino ratio: Return per unit of downside risk	2.29	2.69	-0.40
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	1.67	2.24	-0.57
Martin ratio: Return relative to average drawdown	5.67	7.63	-1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGVFX vs. MXIIX - Sharpe Ratio Comparison

The current TGVFX Sharpe Ratio is 1.67, which is comparable to the MXIIX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of TGVFX and MXIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TGVFX	MXIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.79	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.72	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.82	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.70	-0.20

Drawdowns

TGVFX vs. MXIIX - Drawdown Comparison

The maximum TGVFX drawdown since its inception was -69.41%, which is greater than MXIIX's maximum drawdown of -37.45%. Use the drawdown chart below to compare losses from any high point for TGVFX and MXIIX.

Drawdown Indicators

	TGVFX	MXIIX	Difference
Max Drawdown Largest peak-to-trough decline	-69.41%	-37.45%	-31.96%
Max Drawdown (1Y) Largest decline over 1 year	-16.01%	-2.66%	-13.35%
Max Drawdown (3Y) Largest decline over 3 years	-23.50%	-2.66%	-20.84%
Max Drawdown (5Y) Largest decline over 5 years	-40.77%	-11.59%	-29.18%
Max Drawdown (10Y) Largest decline over 10 years	-40.77%	-15.21%	-25.56%
Current Drawdown Current decline from peak	-1.52%	-0.84%	-0.68%
Average Drawdown Average peak-to-trough decline	-22.72%	-3.44%	-19.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	0.78%	+3.93%

Volatility

TGVFX vs. MXIIX - Volatility Comparison

Touchstone Growth Opportunities Fund (TGVFX) has a higher volatility of 3.86% compared to Touchstone Flexible Income Fund (MXIIX) at 1.21%. This indicates that TGVFX's price experiences larger fluctuations and is considered to be riskier than MXIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGVFX	MXIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	1.21%	+2.65%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	2.45%	+9.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	3.34%	+12.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.01%	3.43%	+20.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	4.41%	+19.13%

TGVFX vs. MXIIX - Expense Ratio Comparison

TGVFX has a 1.25% expense ratio, which is higher than MXIIX's 0.79% expense ratio.

Dividends

TGVFX vs. MXIIX - Dividend Comparison

TGVFX's dividend yield for the trailing twelve months is around 17.89%, more than MXIIX's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXIIX Touchstone Flexible Income Fund	5.25%	4.66%	4.03%	3.77%	4.70%	3.49%	4.66%	3.84%	4.04%	2.72%	2.91%	3.30%
TGVFX Touchstone Growth Opportunities Fund	17.89%	19.24%	6.16%	2.66%	2.40%	17.21%	10.29%	34.44%	11.32%	9.98%	3.67%	10.49%

Frequently Asked Questions

Can I hold both TGVFX and MXIIX in my portfolio?

TGVFX and MXIIX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGVFX or MXIIX?

TGVFX has higher volatility (3.86%) compared to MXIIX (1.21%). In terms of maximum drawdown, TGVFX dropped -69.41% vs MXIIX's -37.45%.

Which has better risk-adjusted returns?

MXIIX currently has the higher Sharpe Ratio (1.79 vs 1.67), 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.