TNVIX vs. VSEAX

Last updated Jun 4, 2026

TNVIX (1290 GAMCO Small/Mid Cap Value Fund) and VSEAX (JPMorgan Small Cap Equity Fund) are both Small Cap Blend Equities funds. Over the past 10 years, TNVIX returned 11.51%/yr vs 8.61%/yr for VSEAX. Their correlation of 0.91 suggests significant overlap in exposure. TNVIX charges 0.95%/yr vs 1.27%/yr for VSEAX.

Performance

TNVIX vs. VSEAX - Performance Comparison

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

Returns By Period

In the year-to-date period, TNVIX achieves a 16.43% return, which is significantly higher than VSEAX's 8.78% return. Over the past 10 years, TNVIX has outperformed VSEAX with an annualized return of 11.51%, while VSEAX has yielded a comparatively lower 8.61% annualized return.

TNVIX

• 1D: 0.83%
• 1M: 1.59%
• YTD: 16.43%
• 6M: 17.46%
• 1Y: 35.41%
• 3Y*: 19.30%
• 5Y*: 9.26%
• 10Y*: 11.51%

VSEAX

• 1D: 0.54%
• 1M: 2.74%
• YTD: 8.78%
• 6M: 9.01%
• 1Y: 10.60%
• 3Y*: 9.13%
• 5Y*: 2.68%
• 10Y*: 8.61%

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

TNVIX vs. VSEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNVIX 1290 GAMCO Small/Mid Cap Value Fund	16.43%	13.91%	11.48%	21.31%	-11.37%	21.85%	11.33%	19.81%	-14.34%	19.00%
VSEAX JPMorgan Small Cap Equity Fund	8.78%	-2.63%	11.46%	11.71%	-16.27%	15.47%	18.14%	28.15%	-9.20%	15.29%

Correlation

The correlation between TNVIX and VSEAX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 1, 2014	0.91

The correlation between TNVIX and VSEAX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

TNVIX vs. VSEAX — Risk / Return Rank

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

TNVIX

TNVIX Risk / Return Rank: 63
TNVIX Sharpe Ratio Rank: 58
TNVIX Sortino Ratio Rank: 58
TNVIX Omega Ratio Rank: 49
TNVIX Calmar Ratio Rank: 81
TNVIX Martin Ratio Rank: 68

VSEAX

VSEAX Risk / Return Rank: 10
VSEAX Sharpe Ratio Rank: 9
VSEAX Sortino Ratio Rank: 10
VSEAX Omega Ratio Rank: 9
VSEAX Calmar Ratio Rank: 11
VSEAX Martin Ratio Rank: 10

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. VSEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) and JPMorgan Small Cap Equity Fund (VSEAX). 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.

	TNVIX	VSEAX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	0.73	+1.51
Sortino ratio: Return per unit of downside risk	3.22	1.18	+2.04
Omega ratio: Gain probability vs. loss probability	1.38	1.13	+0.25
Calmar ratio: Return relative to maximum drawdown	3.70	1.04	+2.67
Martin ratio: Return relative to average drawdown	13.07	2.81	+10.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNVIX vs. VSEAX - Sharpe Ratio Comparison

The current TNVIX Sharpe Ratio is 2.24, which is higher than the VSEAX Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of TNVIX and VSEAX, 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

	TNVIX	VSEAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	0.73	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.14	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.42	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.57	-0.08

Drawdowns

TNVIX vs. VSEAX - Drawdown Comparison

The maximum TNVIX drawdown since its inception was -42.75%, smaller than the maximum VSEAX drawdown of -48.86%. Use the drawdown chart below to compare losses from any high point for TNVIX and VSEAX.

Drawdown Indicators

	TNVIX	VSEAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.75%	-48.86%	+6.11%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-11.89%	+1.75%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-24.44%	+3.85%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-26.53%	+0.92%
Max Drawdown (10Y) Largest decline over 10 years	-42.75%	-41.69%	-1.06%
Current Drawdown Current decline from peak	-1.18%	-1.48%	+0.30%
Average Drawdown Average peak-to-trough decline	-6.21%	-8.08%	+1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	4.38%	-1.51%

Volatility

TNVIX vs. VSEAX - Volatility Comparison

1290 GAMCO Small/Mid Cap Value Fund (TNVIX) has a higher volatility of 5.29% compared to JPMorgan Small Cap Equity Fund (VSEAX) at 3.89%. This indicates that TNVIX's price experiences larger fluctuations and is considered to be riskier than VSEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNVIX	VSEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	3.89%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	12.17%	12.03%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	16.88%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	19.60%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.14%	20.66%	+0.48%

TNVIX vs. VSEAX - Expense Ratio Comparison

TNVIX has a 0.95% expense ratio, which is lower than VSEAX's 1.27% expense ratio.

Dividends

TNVIX vs. VSEAX - Dividend Comparison

TNVIX's dividend yield for the trailing twelve months is around 3.39%, less than VSEAX's 23.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNVIX 1290 GAMCO Small/Mid Cap Value Fund	3.39%	3.95%	8.76%	3.82%	2.51%	7.05%	0.47%	1.74%	1.58%	1.87%	1.79%	0.00%
VSEAX JPMorgan Small Cap Equity Fund	23.39%	25.45%	14.31%	4.81%	15.49%	22.80%	2.89%	4.96%	8.25%	5.99%	2.98%	8.31%

Frequently Asked Questions

Can I hold both TNVIX and VSEAX in my portfolio?

With a correlation of 0.90, TNVIX and VSEAX 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, TNVIX or VSEAX?

TNVIX has higher volatility (5.29%) compared to VSEAX (3.89%). In terms of maximum drawdown, TNVIX dropped -42.75% vs VSEAX's -48.86%.

Which has better risk-adjusted returns?

TNVIX currently has the higher Sharpe Ratio (2.24 vs 0.73), 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.