TLOFX vs. IIVAX

Last updated Jun 4, 2026

TLOFX (Transamerica Large Value Opportunities) and IIVAX (Transamerica Small/Mid Cap Value Fund) are both mutual funds - TLOFX is a Large Cap Value Equities fund managed by Transamerica, while IIVAX is a Mid Cap Value Equities fund managed by Transamerica. Over the past 5 years, TLOFX returned 9.58%/yr vs 6.96%/yr for IIVAX. Their correlation of 0.91 suggests significant overlap in exposure. TLOFX charges 0.75%/yr vs 1.23%/yr for IIVAX.

Performance

TLOFX vs. IIVAX - Performance Comparison

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

Returns By Period

In the year-to-date period, TLOFX achieves a 7.78% return, which is significantly lower than IIVAX's 10.90% return.

TLOFX

• 1D: 0.21%
• 1M: 3.26%
• YTD: 7.78%
• 6M: 8.75%
• 1Y: 15.69%
• 3Y*: 15.43%
• 5Y*: 9.58%
• 10Y*: —

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)

TLOFX vs. IIVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLOFX Transamerica Large Value Opportunities	7.78%	9.67%	18.60%	7.98%	-3.84%	28.85%	-1.14%	23.15%	-9.05%	14.24%
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%	12.07%

Correlation

The correlation between TLOFX and IIVAX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Mar 23, 2017	0.91

The correlation between TLOFX and IIVAX has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

Return for Risk

TLOFX vs. IIVAX — Risk / Return Rank

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

TLOFX

TLOFX Risk / Return Rank: 31
TLOFX Sharpe Ratio Rank: 31
TLOFX Sortino Ratio Rank: 32
TLOFX Omega Ratio Rank: 29
TLOFX Calmar Ratio Rank: 29
TLOFX Martin Ratio Rank: 37

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.

TLOFX vs. IIVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Large Value Opportunities (TLOFX) 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.

	TLOFX	IIVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.86	-0.26
Sortino ratio: Return per unit of downside risk	2.34	2.76	-0.42
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.00	2.85	-0.85
Martin ratio: Return relative to average drawdown	8.16	9.86	-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.

TLOFX vs. IIVAX - Sharpe Ratio Comparison

The current TLOFX Sharpe Ratio is 1.60, which is comparable to the IIVAX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of TLOFX 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

	TLOFX	IIVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	1.86	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.38	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.49	+0.03

Drawdowns

TLOFX vs. IIVAX - Drawdown Comparison

The maximum TLOFX drawdown since its inception was -37.99%, smaller than the maximum IIVAX drawdown of -57.38%. Use the drawdown chart below to compare losses from any high point for TLOFX and IIVAX.

Drawdown Indicators

	TLOFX	IIVAX	Difference
Max Drawdown Largest peak-to-trough decline	-37.99%	-57.38%	+19.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-8.87%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-15.28%	-19.76%	+4.48%
Max Drawdown (5Y) Largest decline over 5 years	-24.34%	-23.12%	-1.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.13%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.31%	-8.34%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.56%	-0.56%

Volatility

TLOFX vs. IIVAX - Volatility Comparison

The current volatility for Transamerica Large Value Opportunities (TLOFX) is 2.20%, while Transamerica Small/Mid Cap Value Fund (IIVAX) has a volatility of 3.06%. This indicates that TLOFX 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

	TLOFX	IIVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	3.06%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	8.91%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	13.60%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	18.58%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	20.48%	-1.77%

TLOFX vs. IIVAX - Expense Ratio Comparison

TLOFX has a 0.75% expense ratio, which is lower than IIVAX's 1.23% expense ratio.

Dividends

TLOFX vs. IIVAX - Dividend Comparison

TLOFX's dividend yield for the trailing twelve months is around 13.89%, 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%
TLOFX Transamerica Large Value Opportunities	13.89%	15.11%	23.72%	1.73%	8.52%	17.26%	2.02%	2.52%	23.00%	3.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TLOFX and IIVAX in my portfolio?

TLOFX and IIVAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLOFX or IIVAX?

IIVAX has higher volatility (3.06%) compared to TLOFX (2.20%). In terms of maximum drawdown, TLOFX dropped -37.99% vs IIVAX's -57.38%.

Which has better risk-adjusted returns?

IIVAX currently has the higher Sharpe Ratio (1.86 vs 1.60), 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.