TGWFX vs. IALAX

Last updated Jun 6, 2026

TGWFX (Transamerica Large Growth Fund) and IALAX (Transamerica Capital Growth Fund) are both Large Cap Growth Equities funds from Transamerica. Over the past 10 years, TGWFX returned 16.25%/yr vs 14.65%/yr for IALAX. Their correlation of 0.94 suggests significant overlap in exposure. TGWFX charges 0.90%/yr vs 1.01%/yr for IALAX.

Performance

TGWFX vs. IALAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Large Growth Fund (TGWFX) and Transamerica Capital Growth Fund (IALAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGWFX achieves a 3.49% return, which is significantly higher than IALAX's -1.72% return. Over the past 10 years, TGWFX has outperformed IALAX with an annualized return of 16.25%, while IALAX has yielded a comparatively lower 14.65% annualized return.

TGWFX

• 1D: 0.17%
• 1M: 2.51%
• YTD: 3.49%
• 6M: 1.52%
• 1Y: 17.07%
• 3Y*: 24.91%
• 5Y*: 7.24%
• 10Y*: 16.25%

IALAX

• 1D: 0.35%
• 1M: 1.17%
• YTD: -1.72%
• 6M: -4.94%
• 1Y: 6.05%
• 3Y*: 25.30%
• 5Y*: 0.06%
• 10Y*: 14.65%

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

TGWFX vs. IALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGWFX Transamerica Large Growth Fund	3.49%	19.57%	37.05%	43.40%	-46.00%	10.81%	72.98%	34.38%	-0.64%	32.45%
IALAX Transamerica Capital Growth Fund	-1.72%	20.54%	43.92%	47.30%	-60.39%	0.10%	111.63%	21.63%	6.59%	43.81%

Correlation

The correlation between TGWFX and IALAX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.94

The correlation between TGWFX and IALAX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

TGWFX vs. IALAX — Risk / Return Rank

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

TGWFX

TGWFX Risk / Return Rank: 9
TGWFX Sharpe Ratio Rank: 10
TGWFX Sortino Ratio Rank: 10
TGWFX Omega Ratio Rank: 10
TGWFX Calmar Ratio Rank: 9
TGWFX Martin Ratio Rank: 8

IALAX

IALAX Risk / Return Rank: 4
IALAX Sharpe Ratio Rank: 4
IALAX Sortino Ratio Rank: 5
IALAX Omega Ratio Rank: 5
IALAX Calmar Ratio Rank: 4
IALAX Martin Ratio Rank: 4

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.

TGWFX vs. IALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Large Growth Fund (TGWFX) and Transamerica Capital Growth Fund (IALAX). 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.

	TGWFX	IALAX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	0.19	+0.59
Sortino ratio: Return per unit of downside risk	1.18	0.47	+0.71
Omega ratio: Gain probability vs. loss probability	1.15	1.06	+0.09
Calmar ratio: Return relative to maximum drawdown	0.79	0.19	+0.59
Martin ratio: Return relative to average drawdown	2.09	0.40	+1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGWFX vs. IALAX - Sharpe Ratio Comparison

The current TGWFX Sharpe Ratio is 0.78, which is higher than the IALAX Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of TGWFX and IALAX, 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

	TGWFX	IALAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	0.19	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.00	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.42	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.39	+0.13

Drawdowns

TGWFX vs. IALAX - Drawdown Comparison

The maximum TGWFX drawdown since its inception was -56.40%, smaller than the maximum IALAX drawdown of -69.30%. Use the drawdown chart below to compare losses from any high point for TGWFX and IALAX.

Drawdown Indicators

	TGWFX	IALAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.40%	-69.30%	+12.90%
Max Drawdown (1Y) Largest decline over 1 year	-21.19%	-29.07%	+7.88%
Max Drawdown (3Y) Largest decline over 3 years	-28.84%	-32.33%	+3.49%
Max Drawdown (5Y) Largest decline over 5 years	-56.40%	-69.30%	+12.90%
Max Drawdown (10Y) Largest decline over 10 years	-56.40%	-69.30%	+12.90%
Current Drawdown Current decline from peak	-3.24%	-19.70%	+16.46%
Average Drawdown Average peak-to-trough decline	-13.81%	-14.84%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.93%	13.78%	-5.85%

Volatility

TGWFX vs. IALAX - Volatility Comparison

The current volatility for Transamerica Large Growth Fund (TGWFX) is 5.97%, while Transamerica Capital Growth Fund (IALAX) has a volatility of 9.08%. This indicates that TGWFX experiences smaller price fluctuations and is considered to be less risky than IALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGWFX	IALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	9.08%	-3.11%
Volatility (6M) Calculated over the trailing 6-month period	16.09%	22.39%	-6.30%
Volatility (1Y) Calculated over the trailing 1-year period	21.25%	28.75%	-7.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.42%	41.73%	-9.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.72%	34.71%	-6.99%

TGWFX vs. IALAX - Expense Ratio Comparison

TGWFX has a 0.90% expense ratio, which is lower than IALAX's 1.01% expense ratio.

Dividends

TGWFX vs. IALAX - Dividend Comparison

TGWFX's dividend yield for the trailing twelve months is around 36.08%, while IALAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IALAX Transamerica Capital Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	20.49%	5.37%	10.49%	4.92%	23.22%	22.63%	3.34%
TGWFX Transamerica Large Growth Fund	36.08%	37.34%	21.74%	0.00%	1.42%	25.01%	16.24%	21.28%	9.80%	4.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGWFX and IALAX in my portfolio?

With a correlation of 0.97, TGWFX and IALAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TGWFX or IALAX?

IALAX has higher volatility (9.08%) compared to TGWFX (5.97%). In terms of maximum drawdown, TGWFX dropped -56.40% vs IALAX's -69.30%.

Which has better risk-adjusted returns?

TGWFX currently has the higher Sharpe Ratio (0.78 vs 0.19), 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.