TNBIX vs. VGPMX

Last updated Jun 24, 2026

TNBIX (1290 SmartBeta Equity Fund) and VGPMX (Vanguard Global Capital Cycles Fund) are both Global Equities funds. Over the past 10 years, TNBIX returned 10.84%/yr vs 10.59%/yr for VGPMX. A 0.55 correlation means they provide meaningful diversification when combined. TNBIX charges 0.85%/yr vs 0.36%/yr for VGPMX.

Performance

TNBIX vs. VGPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1290 SmartBeta Equity Fund (TNBIX) and Vanguard Global Capital Cycles Fund (VGPMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNBIX achieves a 2.82% return, which is significantly lower than VGPMX's 14.50% return. Both investments have delivered pretty close results over the past 10 years, with TNBIX having a 10.84% annualized return and VGPMX not far behind at 10.59%.

TNBIX

• 1D: -0.57%
• 1M: -1.47%
• YTD: 2.82%
• 6M: 2.16%
• 1Y: 11.00%
• 3Y*: 14.00%
• 5Y*: 8.72%
• 10Y*: 10.84%

VGPMX

• 1D: -0.56%
• 1M: -1.37%
• YTD: 14.50%
• 6M: 15.06%
• 1Y: 54.65%
• 3Y*: 29.12%
• 5Y*: 20.35%
• 10Y*: 10.59%

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

TNBIX vs. VGPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNBIX 1290 SmartBeta Equity Fund	2.82%	13.93%	16.70%	16.79%	-14.43%	22.84%	11.09%	26.66%	-5.66%	19.93%
VGPMX Vanguard Global Capital Cycles Fund	14.50%	65.96%	5.78%	10.06%	7.34%	19.50%	17.21%	20.67%	-32.26%	13.75%

Correlation

The correlation between TNBIX and VGPMX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 28, 2014	0.55

The correlation between TNBIX and VGPMX shifts across timeframes, from 0.55 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TNBIX vs. VGPMX — Risk / Return Rank

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

TNBIX

TNBIX Risk / Return Rank: 26
TNBIX Sharpe Ratio Rank: 26
TNBIX Sortino Ratio Rank: 26
TNBIX Omega Ratio Rank: 25
TNBIX Calmar Ratio Rank: 21
TNBIX Martin Ratio Rank: 33

VGPMX

VGPMX Risk / Return Rank: 90
VGPMX Sharpe Ratio Rank: 96
VGPMX Sortino Ratio Rank: 87
VGPMX Omega Ratio Rank: 86
VGPMX Calmar Ratio Rank: 90
VGPMX Martin Ratio Rank: 92

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.

TNBIX vs. VGPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 SmartBeta Equity Fund (TNBIX) and Vanguard Global Capital Cycles Fund (VGPMX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TNBIX	VGPMX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	3.15	-1.82
Sortino ratio: Return per unit of downside risk	1.93	3.83	-1.90
Omega ratio: Gain probability vs. loss probability	1.24	1.54	-0.30
Calmar ratio: Return relative to maximum drawdown	1.56	4.36	-2.80
Martin ratio: Return relative to average drawdown	6.88	17.29	-10.41

TNBIX vs. VGPMX - Sharpe Ratio Comparison

The current TNBIX Sharpe Ratio is 1.34, which is lower than the VGPMX Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of TNBIX and VGPMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TNBIX vs. VGPMX - Drawdown Comparison

The maximum TNBIX drawdown since its inception was -30.11%, smaller than the maximum VGPMX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for TNBIX and VGPMX.

Drawdown Indicators

	TNBIX	VGPMX	Difference
Max Drawdown Largest peak-to-trough decline	-30.11%	-78.85%	+48.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-12.80%	+5.04%
Max Drawdown (3Y) Largest decline over 3 years	-12.07%	-14.63%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	-23.13%	-22.71%	-0.42%
Max Drawdown (10Y) Largest decline over 10 years	-30.11%	-54.59%	+24.48%
Current Drawdown Current decline from peak	-1.61%	-5.49%	+3.88%
Average Drawdown Average peak-to-trough decline	-3.95%	-34.51%	+30.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	3.22%	-1.46%

Volatility

TNBIX vs. VGPMX - Volatility Comparison

The current volatility for 1290 SmartBeta Equity Fund (TNBIX) is 2.69%, while Vanguard Global Capital Cycles Fund (VGPMX) has a volatility of 6.91%. This indicates that TNBIX experiences smaller price fluctuations and is considered to be less risky than VGPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNBIX	VGPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	6.91%	-4.22%
Volatility (6M) Calculated over the trailing 6-month period	7.21%	15.08%	-7.87%
Volatility (1Y) Calculated over the trailing 1-year period	9.10%	17.74%	-8.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	17.50%	-4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.79%	20.89%	-6.10%

TNBIX vs. VGPMX - Expense Ratio Comparison

TNBIX has a 0.85% expense ratio, which is higher than VGPMX's 0.36% expense ratio.

Dividends

TNBIX vs. VGPMX - Dividend Comparison

TNBIX's dividend yield for the trailing twelve months is around 4.66%, more than VGPMX's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNBIX 1290 SmartBeta Equity Fund	4.66%	4.80%	4.47%	1.44%	1.08%	7.47%	1.31%	2.27%	5.45%	1.59%	1.32%	0.00%
VGPMX Vanguard Global Capital Cycles Fund	3.41%	2.59%	2.68%	3.22%	3.27%	3.26%	2.03%	2.39%	3.02%	0.02%	1.72%	2.32%

Frequently Asked Questions

Can I hold both TNBIX and VGPMX in my portfolio?

TNBIX and VGPMX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TNBIX or VGPMX?

VGPMX has higher volatility (6.91%) compared to TNBIX (2.69%). In terms of maximum drawdown, TNBIX dropped -30.11% vs VGPMX's -78.85%.

Which has better risk-adjusted returns?

VGPMX currently has the higher Sharpe Ratio (3.15 vs 1.34), 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.