THPGX vs. VALAX

Last updated Jun 4, 2026

THPGX (Thompson LargeCap Fund) and VALAX (Al Frank Fund) are both Large Cap Value Equities funds. Over the past 10 years, THPGX returned 14.89%/yr vs 14.40%/yr for VALAX. Their correlation of 0.94 suggests significant overlap in exposure. THPGX charges 0.99%/yr vs 1.24%/yr for VALAX.

Performance

THPGX vs. VALAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thompson LargeCap Fund (THPGX) and Al Frank Fund (VALAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THPGX achieves a 12.02% return, which is significantly lower than VALAX's 23.13% return. Both investments have delivered pretty close results over the past 10 years, with THPGX having a 14.89% annualized return and VALAX not far behind at 14.40%.

THPGX

• 1D: 0.31%
• 1M: 4.18%
• YTD: 12.02%
• 6M: 14.47%
• 1Y: 40.27%
• 3Y*: 22.75%
• 5Y*: 12.38%
• 10Y*: 14.89%

VALAX

• 1D: 1.32%
• 1M: 7.50%
• YTD: 23.13%
• 6M: 24.47%
• 1Y: 52.39%
• 3Y*: 24.89%
• 5Y*: 11.74%
• 10Y*: 14.40%

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

THPGX vs. VALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THPGX Thompson LargeCap Fund	12.02%	27.10%	17.14%	22.06%	-15.78%	28.09%	15.49%	33.59%	-12.31%	18.24%
VALAX Al Frank Fund	23.13%	23.57%	13.35%	14.05%	-13.50%	24.97%	10.22%	33.98%	-7.87%	18.09%

Correlation

The correlation between THPGX and VALAX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.94

The correlation between THPGX and VALAX has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

Return for Risk

THPGX vs. VALAX — Risk / Return Rank

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

THPGX

THPGX Risk / Return Rank: 92
THPGX Sharpe Ratio Rank: 94
THPGX Sortino Ratio Rank: 92
THPGX Omega Ratio Rank: 86
THPGX Calmar Ratio Rank: 92
THPGX Martin Ratio Rank: 93

VALAX

VALAX Risk / Return Rank: 96
VALAX Sharpe Ratio Rank: 98
VALAX Sortino Ratio Rank: 96
VALAX Omega Ratio Rank: 93
VALAX Calmar Ratio Rank: 96
VALAX Martin Ratio Rank: 96

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.

THPGX vs. VALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thompson LargeCap Fund (THPGX) and Al Frank Fund (VALAX). 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.

	THPGX	VALAX	Difference
Sharpe ratio: Return per unit of total volatility	3.31	3.96	-0.64
Sortino ratio: Return per unit of downside risk	4.60	5.30	-0.69
Omega ratio: Gain probability vs. loss probability	1.60	1.70	-0.11
Calmar ratio: Return relative to maximum drawdown	5.04	6.32	-1.28
Martin ratio: Return relative to average drawdown	20.55	25.24	-4.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THPGX vs. VALAX - Sharpe Ratio Comparison

The current THPGX Sharpe Ratio is 3.31, which is comparable to the VALAX Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of THPGX and VALAX, 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

	THPGX	VALAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	3.96	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.66	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.75	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.44	+0.06

Drawdowns

THPGX vs. VALAX - Drawdown Comparison

The maximum THPGX drawdown since its inception was -65.52%, which is greater than VALAX's maximum drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for THPGX and VALAX.

Drawdown Indicators

	THPGX	VALAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.52%	-61.26%	-4.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-8.56%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-25.81%	+7.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.49%	-25.81%	-0.68%
Max Drawdown (10Y) Largest decline over 10 years	-40.68%	-38.22%	-2.46%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.58%	-10.75%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.14%	-0.14%

Volatility

THPGX vs. VALAX - Volatility Comparison

The current volatility for Thompson LargeCap Fund (THPGX) is 2.63%, while Al Frank Fund (VALAX) has a volatility of 4.18%. This indicates that THPGX experiences smaller price fluctuations and is considered to be less risky than VALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THPGX	VALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	4.18%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	8.86%	10.72%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	12.41%	13.67%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	17.78%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.94%	19.34%	+0.60%

THPGX vs. VALAX - Expense Ratio Comparison

THPGX has a 0.99% expense ratio, which is lower than VALAX's 1.24% expense ratio.

Dividends

THPGX vs. VALAX - Dividend Comparison

THPGX's dividend yield for the trailing twelve months is around 5.00%, less than VALAX's 7.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
THPGX Thompson LargeCap Fund	5.00%	5.60%	11.97%	8.38%	5.06%	4.95%	0.90%	2.73%	0.89%	0.82%	0.80%	0.72%
VALAX Al Frank Fund	7.03%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Frequently Asked Questions

Can I hold both THPGX and VALAX in my portfolio?

THPGX and VALAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THPGX or VALAX?

VALAX has higher volatility (4.18%) compared to THPGX (2.63%). In terms of maximum drawdown, THPGX dropped -65.52% vs VALAX's -61.26%.

Which has better risk-adjusted returns?

VALAX currently has the higher Sharpe Ratio (3.96 vs 3.31), 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.