TNVIX vs. VFIAX

Last updated Jun 24, 2026

TNVIX (1290 GAMCO Small/Mid Cap Value Fund) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - TNVIX is a Small Cap Blend Equities fund managed by 1290 Funds, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, TNVIX returned 12.08%/yr vs 15.76%/yr for VFIAX. A 0.76 correlation means they provide meaningful diversification when combined. TNVIX charges 0.95%/yr vs 0.04%/yr for VFIAX.

Performance

TNVIX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNVIX achieves a 19.59% return, which is significantly higher than VFIAX's 9.77% return. Over the past 10 years, TNVIX has underperformed VFIAX with an annualized return of 12.08%, while VFIAX has yielded a comparatively higher 15.76% 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%

VFIAX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.77%
• 6M: 8.77%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.57%
• 10Y*: 15.76%

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

TNVIX vs. VFIAX - 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%
VFIAX Vanguard 500 Index Fund Admiral Shares	9.77%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between TNVIX and VFIAX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Nov 28, 2014	0.76

The correlation between TNVIX and VFIAX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

Return for Risk

TNVIX vs. VFIAX — Risk / Return Rank

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

TNVIX

TNVIX Risk / Return Rank: 74
TNVIX Sharpe Ratio Rank: 73
TNVIX Sortino Ratio Rank: 75
TNVIX Omega Ratio Rank: 60
TNVIX Calmar Ratio Rank: 85
TNVIX Martin Ratio Rank: 77

VFIAX

VFIAX Risk / Return Rank: 65
VFIAX Sharpe Ratio Rank: 63
VFIAX Sortino Ratio Rank: 57
VFIAX Omega Ratio Rank: 59
VFIAX Calmar Ratio Rank: 68
VFIAX Martin Ratio Rank: 78

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.

TNVIX vs. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.29	2.15	+0.14
Sortino ratio: Return per unit of downside risk	3.31	2.91	+0.41
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	3.84	3.01	+0.83
Martin ratio: Return relative to average drawdown	13.56	13.60	-0.04

TNVIX vs. VFIAX - Sharpe Ratio Comparison

The current TNVIX Sharpe Ratio is 2.29, which is comparable to the VFIAX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of TNVIX and VFIAX, 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

TNVIX vs. VFIAX - Drawdown Comparison

The maximum TNVIX drawdown since its inception was -42.75%, smaller than the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for TNVIX and VFIAX.

Drawdown Indicators

	TNVIX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.75%	-55.20%	+12.45%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-8.90%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-18.75%	-1.84%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-24.53%	-1.08%
Max Drawdown (10Y) Largest decline over 10 years	-42.75%	-33.83%	-8.92%
Current Drawdown Current decline from peak	-0.53%	-1.72%	+1.19%
Average Drawdown Average peak-to-trough decline	-6.18%	-9.38%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	1.97%	+0.90%

Volatility

TNVIX vs. VFIAX - Volatility Comparison

1290 GAMCO Small/Mid Cap Value Fund (TNVIX) has a higher volatility of 5.02% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 4.67%. This indicates that TNVIX's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNVIX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	4.67%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	12.42%	9.84%	+2.58%
Volatility (1Y) Calculated over the trailing 1-year period	17.02%	12.50%	+4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	16.99%	+2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.16%	18.11%	+3.05%

TNVIX vs. VFIAX - Expense Ratio Comparison

TNVIX has a 0.95% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

TNVIX vs. VFIAX - Dividend Comparison

TNVIX's dividend yield for the trailing twelve months is around 3.30%, more than VFIAX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.03%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both TNVIX and VFIAX in my portfolio?

TNVIX and VFIAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TNVIX or VFIAX?

TNVIX has higher volatility (5.02%) compared to VFIAX (4.67%). In terms of maximum drawdown, TNVIX dropped -42.75% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

TNVIX currently has the higher Sharpe Ratio (2.29 vs 2.15), 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.