TLAFX vs. IIVAX

Last updated Jun 4, 2026

TLAFX (Transamerica Large Core Fund) and IIVAX (Transamerica Small/Mid Cap Value Fund) are both mutual funds - TLAFX is a Large Cap Blend Equities fund managed by Transamerica, while IIVAX is a Mid Cap Value Equities fund managed by Transamerica. Over the past 10 years, TLAFX returned 14.66%/yr vs 10.02%/yr for IIVAX. Their correlation of 0.83 suggests significant overlap in exposure. TLAFX charges 0.76%/yr vs 1.23%/yr for IIVAX.

Performance

TLAFX vs. IIVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Large Core Fund (TLAFX) and Transamerica Small/Mid Cap Value Fund (IIVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TLAFX having a 10.98% return and IIVAX slightly lower at 10.90%. Over the past 10 years, TLAFX has outperformed IIVAX with an annualized return of 14.66%, while IIVAX has yielded a comparatively lower 10.02% annualized return.

TLAFX

• 1D: 0.08%
• 1M: 6.31%
• YTD: 10.98%
• 6M: 11.55%
• 1Y: 27.76%
• 3Y*: 21.54%
• 5Y*: 13.97%
• 10Y*: 14.66%

IIVAX

• 1D: 0.21%
• 1M: 2.25%
• YTD: 10.90%
• 6M: 11.33%
• 1Y: 23.71%
• 3Y*: 13.74%
• 5Y*: 6.96%
• 10Y*: 10.02%

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

TLAFX vs. IIVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLAFX Transamerica Large Core Fund	10.98%	17.56%	22.59%	25.87%	-16.76%	29.74%	15.30%	26.68%	-7.19%	22.57%
IIVAX Transamerica Small/Mid Cap Value Fund	10.90%	9.49%	8.57%	12.02%	-8.35%	27.49%	3.25%	24.62%	-11.87%	15.16%

Correlation

The correlation between TLAFX and IIVAX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.83

The correlation between TLAFX and IIVAX shifts across timeframes, from 0.64 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TLAFX vs. IIVAX — Risk / Return Rank

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

TLAFX

TLAFX Risk / Return Rank: 69
TLAFX Sharpe Ratio Rank: 70
TLAFX Sortino Ratio Rank: 65
TLAFX Omega Ratio Rank: 62
TLAFX Calmar Ratio Rank: 70
TLAFX Martin Ratio Rank: 79

IIVAX

IIVAX Risk / Return Rank: 45
IIVAX Sharpe Ratio Rank: 41
IIVAX Sortino Ratio Rank: 43
IIVAX Omega Ratio Rank: 37
IIVAX Calmar Ratio Rank: 55
IIVAX Martin Ratio Rank: 48

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.

TLAFX vs. IIVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Large Core Fund (TLAFX) and Transamerica Small/Mid Cap Value Fund (IIVAX). 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.

	TLAFX	IIVAX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.86	+0.60
Sortino ratio: Return per unit of downside risk	3.38	2.76	+0.62
Omega ratio: Gain probability vs. loss probability	1.44	1.33	+0.12
Calmar ratio: Return relative to maximum drawdown	3.23	2.85	+0.38
Martin ratio: Return relative to average drawdown	14.87	9.86	+5.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLAFX vs. IIVAX - Sharpe Ratio Comparison

The current TLAFX Sharpe Ratio is 2.46, which is higher than the IIVAX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of TLAFX and IIVAX, 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

	TLAFX	IIVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	1.86	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.38	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.49	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.49	+0.28

Drawdowns

TLAFX vs. IIVAX - Drawdown Comparison

The maximum TLAFX drawdown since its inception was -33.94%, smaller than the maximum IIVAX drawdown of -57.38%. Use the drawdown chart below to compare losses from any high point for TLAFX and IIVAX.

Drawdown Indicators

	TLAFX	IIVAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-57.38%	+23.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-8.87%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.84%	-19.76%	+0.92%
Max Drawdown (5Y) Largest decline over 5 years	-30.72%	-23.12%	-7.60%
Max Drawdown (10Y) Largest decline over 10 years	-33.94%	-44.13%	+10.19%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.43%	-8.34%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.56%	-0.63%

Volatility

TLAFX vs. IIVAX - Volatility Comparison

The current volatility for Transamerica Large Core Fund (TLAFX) is 2.83%, while Transamerica Small/Mid Cap Value Fund (IIVAX) has a volatility of 3.06%. This indicates that TLAFX experiences smaller price fluctuations and is considered to be less risky than IIVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLAFX	IIVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.06%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	8.91%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	13.60%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.50%	18.58%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.47%	20.48%	-1.01%

TLAFX vs. IIVAX - Expense Ratio Comparison

TLAFX has a 0.76% expense ratio, which is lower than IIVAX's 1.23% expense ratio.

Dividends

TLAFX vs. IIVAX - Dividend Comparison

TLAFX's dividend yield for the trailing twelve months is around 14.24%, more than IIVAX's 9.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIVAX Transamerica Small/Mid Cap Value Fund	9.54%	10.58%	12.75%	4.83%	9.72%	10.94%	0.48%	3.17%	12.58%	13.20%	5.91%	9.34%
TLAFX Transamerica Large Core Fund	14.24%	15.89%	23.39%	7.88%	6.40%	16.53%	9.17%	1.44%	22.85%	4.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TLAFX and IIVAX in my portfolio?

TLAFX and IIVAX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLAFX or IIVAX?

IIVAX has higher volatility (3.06%) compared to TLAFX (2.83%). In terms of maximum drawdown, TLAFX dropped -33.94% vs IIVAX's -57.38%.

Which has better risk-adjusted returns?

TLAFX currently has the higher Sharpe Ratio (2.46 vs 1.86), 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.