TNVDX vs. TNXAX

Last updated Jun 3, 2026

TNVDX (1290 DoubleLine Dynamic Allocation Fund) and TNXAX (1290 Loomis Sayles Multi-Asset Income Fund Class A) are both Diversified Portfolio funds from 1290 Funds. Over the past 5 years, TNVDX returned 5.68%/yr vs 5.41%/yr for TNXAX. With a 0.98 correlation, they move nearly in lockstep. TNVDX charges 1.27%/yr vs 1.14%/yr for TNXAX.

Performance

TNVDX vs. TNXAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1290 DoubleLine Dynamic Allocation Fund (TNVDX) and 1290 Loomis Sayles Multi-Asset Income Fund Class A (TNXAX). 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 TNVDX having a 5.12% return and TNXAX slightly lower at 4.92%.

TNVDX

• 1D: -0.09%
• 1M: 1.74%
• YTD: 5.12%
• 6M: 6.15%
• 1Y: 13.95%
• 3Y*: 10.09%
• 5Y*: 5.68%
• 10Y*: —

TNXAX

• 1D: -0.18%
• 1M: 1.63%
• YTD: 4.92%
• 6M: 5.93%
• 1Y: 13.58%
• 3Y*: 9.80%
• 5Y*: 5.41%
• 10Y*: —

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

TNVDX vs. TNXAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNVDX 1290 DoubleLine Dynamic Allocation Fund	5.12%	10.45%	8.62%	9.34%	-8.50%	10.36%	13.50%	18.37%	-3.93%	8.11%
TNXAX 1290 Loomis Sayles Multi-Asset Income Fund Class A	4.92%	10.19%	8.37%	9.11%	-8.74%	10.02%	13.24%	18.22%	-4.28%	8.13%

Correlation

The correlation between TNVDX and TNXAX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.98

The correlation between TNVDX and TNXAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

TNVDX vs. TNXAX — Risk / Return Rank

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

TNVDX

TNVDX Risk / Return Rank: 65
TNVDX Sharpe Ratio Rank: 79
TNVDX Sortino Ratio Rank: 73
TNVDX Omega Ratio Rank: 81
TNVDX Calmar Ratio Rank: 46
TNVDX Martin Ratio Rank: 48

TNXAX

TNXAX Risk / Return Rank: 61
TNXAX Sharpe Ratio Rank: 74
TNXAX Sortino Ratio Rank: 68
TNXAX Omega Ratio Rank: 79
TNXAX Calmar Ratio Rank: 42
TNXAX Martin Ratio Rank: 45

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.

TNVDX vs. TNXAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 DoubleLine Dynamic Allocation Fund (TNVDX) and 1290 Loomis Sayles Multi-Asset Income Fund Class A (TNXAX). 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.

	TNVDX	TNXAX	Difference
Sharpe ratio Return per unit of total volatility	2.57	2.50	+0.07
Sortino ratio Return per unit of downside risk	3.55	3.46	+0.10
Omega ratio Gain probability vs. loss probability	1.54	1.52	+0.02
Calmar ratio Return relative to maximum drawdown	2.59	2.47	+0.12
Martin ratio Return relative to average drawdown	9.86	9.46	+0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNVDX vs. TNXAX - Sharpe Ratio Comparison

The current TNVDX Sharpe Ratio is 2.57, which is comparable to the TNXAX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of TNVDX and TNXAX, 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

	TNVDX	TNXAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.50	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.69	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.79	+0.05

Drawdowns

TNVDX vs. TNXAX - Drawdown Comparison

The maximum TNVDX drawdown since its inception was -20.14%, roughly equal to the maximum TNXAX drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for TNVDX and TNXAX.

Drawdown Indicators

	TNVDX	TNXAX	Difference
Max Drawdown Largest peak-to-trough decline	-20.14%	-20.07%	-0.07%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-5.58%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-6.21%	-9.89%	+3.68%
Max Drawdown (5Y) Largest decline over 5 years	-17.69%	-17.80%	+0.11%
Current Drawdown Current decline from peak	-0.09%	-0.18%	+0.09%
Average Drawdown Average peak-to-trough decline	-2.64%	-2.94%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	1.46%	-0.02%

Volatility

TNVDX vs. TNXAX - Volatility Comparison

1290 DoubleLine Dynamic Allocation Fund (TNVDX) and 1290 Loomis Sayles Multi-Asset Income Fund Class A (TNXAX) have volatilities of 1.82% and 1.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNVDX	TNXAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	1.77%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	4.69%	4.70%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	5.51%	5.52%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	7.86%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.71%	9.00%	-0.29%

TNVDX vs. TNXAX - Expense Ratio Comparison

TNVDX has a 1.27% expense ratio, which is higher than TNXAX's 1.14% expense ratio.

Dividends

TNVDX vs. TNXAX - Dividend Comparison

TNVDX's dividend yield for the trailing twelve months is around 8.12%, more than TNXAX's 7.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNVDX 1290 DoubleLine Dynamic Allocation Fund	8.12%	7.69%	9.73%	5.52%	4.67%	10.18%	8.15%	5.58%	5.02%	6.06%
TNXAX 1290 Loomis Sayles Multi-Asset Income Fund Class A	7.89%	7.45%	9.48%	5.31%	4.42%	9.95%	7.91%	5.34%	4.75%	6.06%

Frequently Asked Questions

Can I hold both TNVDX and TNXAX in my portfolio?

With a correlation of 0.97, TNVDX and TNXAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TNVDX or TNXAX?

TNVDX has higher volatility (1.82%) compared to TNXAX (1.77%). In terms of maximum drawdown, TNVDX dropped -20.14% vs TNXAX's -20.07%.

Which has better risk-adjusted returns?

TNVDX currently has the higher Sharpe Ratio (2.57 vs 2.50), 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.