THPMX vs. GTSGX

Last updated Apr 2, 2026

Compare and contrast key facts about Thompson MidCap Fund (THPMX) and Madison Mid Cap Fund (GTSGX).

THPMX is managed by Thompson IM. It was launched on Mar 31, 2008. GTSGX is managed by Madison Funds. It was launched on Jul 21, 1983.

Performance

THPMX vs. GTSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thompson MidCap Fund (THPMX) and Madison Mid Cap Fund (GTSGX). The values are adjusted to include any dividend payments, if applicable.

THPMX vs. GTSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THPMX Thompson MidCap Fund	-0.81%	20.08%	7.70%	17.01%	-14.84%	29.71%	11.97%	33.48%	-21.90%	17.10%
GTSGX Madison Mid Cap Fund	-4.35%	1.62%	10.24%	26.51%	-13.60%	26.31%	9.45%	33.53%	-1.60%	15.65%

Returns By Period

In the year-to-date period, THPMX achieves a -0.81% return, which is significantly higher than GTSGX's -4.35% return. Both investments have delivered pretty close results over the past 10 years, with THPMX having a 10.36% annualized return and GTSGX not far behind at 10.15%.

THPMX

• 1D: 2.89%
• 1M: -6.35%
• YTD: -0.81%
• 6M: 5.22%
• 1Y: 23.61%
• 3Y*: 12.97%
• 5Y*: 6.24%
• 10Y*: 10.36%

GTSGX

• 1D: 2.26%
• 1M: -6.95%
• YTD: -4.35%
• 6M: -5.69%
• 1Y: 1.28%
• 3Y*: 8.80%
• 5Y*: 6.79%
• 10Y*: 10.15%

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

THPMX vs. GTSGX - Expense Ratio Comparison

THPMX has a 1.15% expense ratio, which is higher than GTSGX's 0.95% expense ratio.

THPMX

Thompson MidCap Fund

GTSGX

Madison Mid Cap Fund

Return for Risk

THPMX vs. GTSGX — Risk / Return Rank

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

THPMX

THPMX Risk / Return Rank: 56
THPMX Sharpe Ratio Rank: 53
THPMX Sortino Ratio Rank: 56
THPMX Omega Ratio Rank: 53
THPMX Calmar Ratio Rank: 58
THPMX Martin Ratio Rank: 60

GTSGX

GTSGX Risk / Return Rank: 6
GTSGX Sharpe Ratio Rank: 5
GTSGX Sortino Ratio Rank: 6
GTSGX Omega Ratio Rank: 6
GTSGX Calmar Ratio Rank: 8
GTSGX Martin Ratio Rank: 8

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.

THPMX vs. GTSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thompson MidCap Fund (THPMX) and Madison Mid Cap Fund (GTSGX). 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.

	THPMX	GTSGX	Difference
Sharpe ratio Return per unit of total volatility	1.10	0.07	+1.03
Sortino ratio Return per unit of downside risk	1.63	0.25	+1.38
Omega ratio Gain probability vs. loss probability	1.24	1.03	+0.20
Calmar ratio Return relative to maximum drawdown	1.59	0.16	+1.43
Martin ratio Return relative to average drawdown	6.61	0.47	+6.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THPMX vs. GTSGX - Sharpe Ratio Comparison

The current THPMX Sharpe Ratio is 1.10, which is higher than the GTSGX Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of THPMX and GTSGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	THPMX	GTSGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	0.07	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.39	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.57	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.14	+0.40

Correlation

The correlation between THPMX and GTSGX is 0.88, 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

THPMX vs. GTSGX - Dividend Comparison

THPMX's dividend yield for the trailing twelve months is around 9.56%, more than GTSGX's 3.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
THPMX Thompson MidCap Fund	9.56%	9.48%	8.04%	7.60%	12.04%	9.76%	0.33%	2.93%	7.29%	7.51%	4.84%	9.46%
GTSGX Madison Mid Cap Fund	3.52%	3.37%	5.76%	1.25%	1.96%	4.38%	3.43%	3.74%	7.57%	3.58%	4.34%	6.09%

Drawdowns

THPMX vs. GTSGX - Drawdown Comparison

The maximum THPMX drawdown since its inception was -47.55%, smaller than the maximum GTSGX drawdown of -73.82%. Use the drawdown chart below to compare losses from any high point for THPMX and GTSGX.

Drawdown Indicators

	THPMX	GTSGX	Difference
Max Drawdown Largest peak-to-trough decline	-47.55%	-73.82%	+26.27%
Max Drawdown (1Y) Largest decline over 1 year	-14.82%	-11.99%	-2.83%
Max Drawdown (5Y) Largest decline over 5 years	-25.29%	-21.94%	-3.35%
Max Drawdown (10Y) Largest decline over 10 years	-47.55%	-38.25%	-9.30%
Current Drawdown Current decline from peak	-7.30%	-10.00%	+2.70%
Average Drawdown Average peak-to-trough decline	-6.82%	-29.79%	+22.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	4.07%	-0.50%

Volatility

THPMX vs. GTSGX - Volatility Comparison

Thompson MidCap Fund (THPMX) has a higher volatility of 5.91% compared to Madison Mid Cap Fund (GTSGX) at 4.73%. This indicates that THPMX's price experiences larger fluctuations and is considered to be riskier than GTSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THPMX	GTSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	4.73%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	11.39%	10.17%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	21.13%	19.05%	+2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.64%	17.36%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	18.01%	+4.77%