TOBAX vs. TLCIX

Last updated Jun 23, 2026

TOBAX (Touchstone Active Bond Fund) and TLCIX (Touchstone Large Cap Fund) are both mutual funds - TOBAX is a Intermediate Core-Plus Bond fund managed by Touchstone, while TLCIX is a Large Cap Blend Equities fund managed by Touchstone. Over the past 10 years, TOBAX returned 2.06%/yr vs 11.65%/yr for TLCIX. At a 0.02 correlation, their price movements are largely independent. TOBAX charges 0.83%/yr vs 0.82%/yr for TLCIX.

Performance

TOBAX vs. TLCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Active Bond Fund (TOBAX) and Touchstone Large Cap Fund (TLCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOBAX achieves a 0.44% return, which is significantly lower than TLCIX's 11.27% return. Over the past 10 years, TOBAX has underperformed TLCIX with an annualized return of 2.06%, while TLCIX has yielded a comparatively higher 11.65% annualized return.

TOBAX

• 1D: 0.11%
• 1M: 0.88%
• YTD: 0.44%
• 6M: 0.89%
• 1Y: 4.95%
• 3Y*: 4.71%
• 5Y*: 0.11%
• 10Y*: 2.06%

TLCIX

• 1D: 0.89%
• 1M: 0.89%
• YTD: 11.27%
• 6M: 10.59%
• 1Y: 20.98%
• 3Y*: 13.51%
• 5Y*: 8.83%
• 10Y*: 11.65%

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

TOBAX vs. TLCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TOBAX Touchstone Active Bond Fund	0.44%	7.66%	2.22%	6.38%	-14.20%	-1.34%	9.93%	10.11%	-1.94%	3.51%
TLCIX Touchstone Large Cap Fund	11.27%	8.16%	15.04%	14.37%	-15.02%	26.00%	10.32%	31.56%	-6.31%	21.72%

Correlation

The correlation between TOBAX and TLCIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014	0.02

Over the past year, TOBAX and TLCIX have become more correlated (0.36) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

TOBAX vs. TLCIX — Risk / Return Rank

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

TOBAX

TOBAX Risk / Return Rank: 27
TOBAX Sharpe Ratio Rank: 28
TOBAX Sortino Ratio Rank: 30
TOBAX Omega Ratio Rank: 27
TOBAX Calmar Ratio Rank: 26
TOBAX Martin Ratio Rank: 23

TLCIX

TLCIX Risk / Return Rank: 47
TLCIX Sharpe Ratio Rank: 47
TLCIX Sortino Ratio Rank: 45
TLCIX Omega Ratio Rank: 44
TLCIX Calmar Ratio Rank: 53
TLCIX Martin Ratio Rank: 47

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.

TOBAX vs. TLCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Active Bond Fund (TOBAX) and Touchstone Large Cap Fund (TLCIX). 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.

	TOBAX	TLCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.85	-0.44
Sortino ratio: Return per unit of downside risk	2.13	2.61	-0.49
Omega ratio: Gain probability vs. loss probability	1.25	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	1.80	2.67	-0.87
Martin ratio: Return relative to average drawdown	5.14	9.26	-4.12

TOBAX vs. TLCIX - Sharpe Ratio Comparison

The current TOBAX Sharpe Ratio is 1.41, which is comparable to the TLCIX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of TOBAX and TLCIX, 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

TOBAX vs. TLCIX - Drawdown Comparison

The maximum TOBAX drawdown since its inception was -19.73%, smaller than the maximum TLCIX drawdown of -34.19%. Use the drawdown chart below to compare losses from any high point for TOBAX and TLCIX.

Drawdown Indicators

	TOBAX	TLCIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-34.19%	+14.46%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-7.83%	+4.95%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-14.59%	+8.47%
Max Drawdown (5Y) Largest decline over 5 years	-19.73%	-23.26%	+3.53%
Max Drawdown (10Y) Largest decline over 10 years	-19.73%	-34.19%	+14.46%
Current Drawdown Current decline from peak	-1.26%	-0.48%	-0.78%
Average Drawdown Average peak-to-trough decline	-2.43%	-4.86%	+2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	2.25%	-1.24%

Volatility

TOBAX vs. TLCIX - Volatility Comparison

The current volatility for Touchstone Active Bond Fund (TOBAX) is 1.05%, while Touchstone Large Cap Fund (TLCIX) has a volatility of 3.38%. This indicates that TOBAX experiences smaller price fluctuations and is considered to be less risky than TLCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOBAX	TLCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	3.38%	-2.33%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	8.46%	-5.72%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	11.29%	-7.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.80%	14.85%	-9.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	16.84%	-12.03%

TOBAX vs. TLCIX - Expense Ratio Comparison

TOBAX has a 0.83% expense ratio, which is higher than TLCIX's 0.82% expense ratio.

Dividends

TOBAX vs. TLCIX - Dividend Comparison

TOBAX's dividend yield for the trailing twelve months is around 4.01%, more than TLCIX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TLCIX Touchstone Large Cap Fund	2.59%	2.88%	3.76%	1.93%	4.29%	3.01%	1.28%	13.22%	1.12%	0.73%	1.02%	0.77%
TOBAX Touchstone Active Bond Fund	4.01%	3.52%	3.72%	3.63%	3.10%	2.24%	2.58%	2.59%	2.79%	2.29%	2.65%	2.99%

Frequently Asked Questions

Can I hold both TOBAX and TLCIX in my portfolio?

TOBAX and TLCIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOBAX or TLCIX?

TLCIX has higher volatility (3.38%) compared to TOBAX (1.05%). In terms of maximum drawdown, TOBAX dropped -19.73% vs TLCIX's -34.19%.

Which has better risk-adjusted returns?

TLCIX currently has the higher Sharpe Ratio (1.85 vs 1.41), 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.