TNVIX vs. SOXX
TNVIX (1290 GAMCO Small/Mid Cap Value Fund) and SOXX (iShares Semiconductor ETF) are both funds - TNVIX is a Small Cap Blend Equities fund managed by 1290 Funds, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Over the past 10 years, TNVIX returned 12.08%/yr vs 36.08%/yr for SOXX. A 0.60 correlation means they provide meaningful diversification when combined. TNVIX charges 0.95%/yr vs 0.34%/yr for SOXX.
Performance
TNVIX vs. SOXX - Performance Comparison
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Returns By Period
In the year-to-date period, TNVIX achieves a 19.59% return, which is significantly lower than SOXX's 100.58% return. Over the past 10 years, TNVIX has underperformed SOXX with an annualized return of 12.08%, while SOXX has yielded a comparatively higher 36.08% annualized return.
TNVIX
- 1D
- -0.53%
- 1M
- 4.69%
- YTD
- 19.59%
- 6M
- 17.76%
- 1Y
- 36.79%
- 3Y*
- 19.58%
- 5Y*
- 10.38%
- 10Y*
- 12.08%
SOXX
- 1D
- -7.88%
- 1M
- 12.35%
- YTD
- 100.58%
- 6M
- 98.07%
- 1Y
- 167.63%
- 3Y*
- 56.18%
- 5Y*
- 33.69%
- 10Y*
- 36.08%
TNVIX vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNVIX 1290 GAMCO Small/Mid Cap Value Fund | 19.59% | 13.91% | 11.48% | 21.31% | -11.37% | 21.85% | 11.33% | 19.81% | -14.34% | 19.00% |
SOXX iShares Semiconductor ETF | 100.58% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
Correlation
The correlation between TNVIX and SOXX is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2014 | 0.60 |
The correlation between TNVIX and SOXX has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.
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Return for Risk
TNVIX vs. SOXX — Risk / Return Rank
TNVIX
SOXX
TNVIX vs. SOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) and iShares Semiconductor ETF (SOXX). 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.
| TNVIX | SOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.60 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | 10.70 | -6.86 |
| Martin ratioReturn relative to average drawdown | 13.56 | 38.46 | -24.90 |
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Drawdowns
TNVIX vs. SOXX - Drawdown Comparison
The maximum TNVIX drawdown since its inception was -42.75%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for TNVIX and SOXX.
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Drawdown Indicators
| TNVIX | SOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.75% | -70.21% | +27.46% |
Max Drawdown (1Y)Largest decline over 1 year | -10.14% | -15.77% | +5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -20.59% | -41.36% | +20.77% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -45.75% | +20.14% |
Max Drawdown (10Y)Largest decline over 10 years | -42.75% | -45.75% | +3.00% |
Current DrawdownCurrent decline from peak | -0.53% | -7.88% | +7.35% |
Average DrawdownAverage peak-to-trough decline | -6.18% | -19.94% | +13.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 4.38% | -1.51% |
Volatility
TNVIX vs. SOXX - Volatility Comparison
The current volatility for 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) is 5.02%, while iShares Semiconductor ETF (SOXX) has a volatility of 22.75%. This indicates that TNVIX experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TNVIX | SOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 22.75% | -17.73% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 33.44% | -21.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.02% | 39.42% | -22.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.83% | 37.21% | -17.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.16% | 34.00% | -12.84% |
TNVIX vs. SOXX - Expense Ratio Comparison
TNVIX has a 0.95% expense ratio, which is higher than SOXX's 0.34% expense ratio.
Dividends
TNVIX vs. SOXX - Dividend Comparison
TNVIX's dividend yield for the trailing twelve months is around 3.30%, more than SOXX's 0.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 0.24% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
TNVIX 1290 GAMCO Small/Mid Cap Value Fund | 3.30% | 3.95% | 8.76% | 3.82% | 2.51% | 7.05% | 0.47% | 1.74% | 1.58% | 1.87% | 1.79% | 0.00% |
Frequently Asked Questions
TNVIX and SOXX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXX has higher volatility (22.75%) compared to TNVIX (5.02%). In terms of maximum drawdown, TNVIX dropped -42.75% vs SOXX's -70.21%.
SOXX currently has the higher Sharpe Ratio (4.28 vs 2.29), 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.
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