THYIX vs. ITAAX

Last updated Jun 3, 2026

THYIX (Transamerica High Yield Muni) and ITAAX (Transamerica Short-Term Bond Fund) are both mutual funds - THYIX is a High Yield Muni fund managed by Transamerica, while ITAAX is a Short-Term Bond fund managed by Transamerica. Over the past 10 years, THYIX returned 2.38%/yr vs 2.33%/yr for ITAAX. At a 0.44 correlation, their price movements are largely independent. THYIX charges 0.76%/yr vs 0.70%/yr for ITAAX.

Performance

THYIX vs. ITAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica High Yield Muni (THYIX) and Transamerica Short-Term Bond Fund (ITAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THYIX achieves a 2.27% return, which is significantly higher than ITAAX's 0.71% return. Both investments have delivered pretty close results over the past 10 years, with THYIX having a 2.38% annualized return and ITAAX not far behind at 2.33%.

THYIX

• 1D: -0.10%
• 1M: 0.52%
• YTD: 2.27%
• 6M: 2.86%
• 1Y: 6.99%
• 3Y*: 5.61%
• 5Y*: 0.19%
• 10Y*: 2.38%

ITAAX

• 1D: 0.00%
• 1M: 0.21%
• YTD: 0.71%
• 6M: 1.06%
• 1Y: 3.84%
• 3Y*: 4.57%
• 5Y*: 2.09%
• 10Y*: 2.33%

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

THYIX vs. ITAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THYIX Transamerica High Yield Muni	2.27%	3.17%	6.05%	8.24%	-18.68%	7.94%	3.15%	9.62%	0.66%	9.67%
ITAAX Transamerica Short-Term Bond Fund	0.71%	5.50%	4.46%	4.70%	-4.04%	0.03%	3.16%	5.12%	0.76%	2.17%

Correlation

The correlation between THYIX and ITAAX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.44

The correlation between THYIX and ITAAX shifts across timeframes, from 0.44 (all time) to 0.55 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

THYIX vs. ITAAX — Risk / Return Rank

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

THYIX

THYIX Risk / Return Rank: 56
THYIX Sharpe Ratio Rank: 52
THYIX Sortino Ratio Rank: 66
THYIX Omega Ratio Rank: 76
THYIX Calmar Ratio Rank: 45
THYIX Martin Ratio Rank: 40

ITAAX

ITAAX Risk / Return Rank: 71
ITAAX Sharpe Ratio Rank: 53
ITAAX Sortino Ratio Rank: 86
ITAAX Omega Ratio Rank: 79
ITAAX Calmar Ratio Rank: 70
ITAAX Martin Ratio Rank: 67

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.

THYIX vs. ITAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica High Yield Muni (THYIX) and Transamerica Short-Term Bond Fund (ITAAX). 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.

	THYIX	ITAAX	Difference
Sharpe ratio Return per unit of total volatility	2.12	2.15	-0.03
Sortino ratio Return per unit of downside risk	3.39	4.09	-0.70
Omega ratio Gain probability vs. loss probability	1.49	1.52	-0.03
Calmar ratio Return relative to maximum drawdown	2.58	3.25	-0.67
Martin ratio Return relative to average drawdown	8.71	12.92	-4.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THYIX vs. ITAAX - Sharpe Ratio Comparison

The current THYIX Sharpe Ratio is 2.12, which is comparable to the ITAAX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of THYIX and ITAAX, 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

	THYIX	ITAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.15	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	1.02	-0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	1.08	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.58	-0.68

Drawdowns

THYIX vs. ITAAX - Drawdown Comparison

The maximum THYIX drawdown since its inception was -23.56%, which is greater than ITAAX's maximum drawdown of -10.38%. Use the drawdown chart below to compare losses from any high point for THYIX and ITAAX.

Drawdown Indicators

	THYIX	ITAAX	Difference
Max Drawdown Largest peak-to-trough decline	-23.56%	-10.38%	-13.18%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-1.28%	-1.46%
Max Drawdown (3Y) Largest decline over 3 years	-6.66%	-1.28%	-5.38%
Max Drawdown (5Y) Largest decline over 5 years	-23.56%	-6.55%	-17.01%
Max Drawdown (10Y) Largest decline over 10 years	-23.56%	-10.38%	-13.18%
Current Drawdown Current decline from peak	-1.53%	-0.12%	-1.41%
Average Drawdown Average peak-to-trough decline	-4.58%	-0.69%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.32%	+0.49%

Volatility

THYIX vs. ITAAX - Volatility Comparison

Transamerica High Yield Muni (THYIX) has a higher volatility of 1.04% compared to Transamerica Short-Term Bond Fund (ITAAX) at 0.52%. This indicates that THYIX's price experiences larger fluctuations and is considered to be riskier than ITAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THYIX	ITAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	0.52%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	1.29%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.16%	1.79%	+1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	2.06%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	2.18%	+2.80%

THYIX vs. ITAAX - Expense Ratio Comparison

THYIX has a 0.76% expense ratio, which is higher than ITAAX's 0.70% expense ratio.

Dividends

THYIX vs. ITAAX - Dividend Comparison

THYIX's dividend yield for the trailing twelve months is around 4.37%, more than ITAAX's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITAAX Transamerica Short-Term Bond Fund	3.98%	4.03%	3.75%	2.72%	1.39%	1.30%	1.81%	2.52%	2.35%	1.96%	2.23%	2.10%
THYIX Transamerica High Yield Muni	4.37%	4.52%	3.93%	3.18%	2.81%	3.10%	3.64%	3.65%	3.81%	3.10%	4.42%	3.40%

Frequently Asked Questions

Can I hold both THYIX and ITAAX in my portfolio?

THYIX and ITAAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THYIX or ITAAX?

THYIX has higher volatility (1.04%) compared to ITAAX (0.52%). In terms of maximum drawdown, THYIX dropped -23.56% vs ITAAX's -10.38%.

Which has better risk-adjusted returns?

ITAAX currently has the higher Sharpe Ratio (2.15 vs 2.12), 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.