TQCAX vs. TORYX

Last updated Aug 4, 2026

TQCAX (Touchstone Dividend Equity Fund) and TORYX (Torray Equity Income Fund) are both Large Cap Value Equities funds. Over the past 5 years, TQCAX returned 10.53%/yr vs 12.03%/yr for TORYX. Their correlation of 0.91 means they have usually moved in the same direction. TQCAX charges 1.04%/yr vs 1.07%/yr for TORYX.

Performance

TQCAX vs. TORYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Dividend Equity Fund (TQCAX) and Torray Equity Income Fund (TORYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQCAX achieves a 12.94% return, which is significantly lower than TORYX's 16.89% return.

TQCAX

• 1D: -0.05%
• 1M: 0.73%
• 6M: 8.11%
• YTD: 12.94%
• 1Y: 23.01%
• 3Y*: 15.23%
• 5Y*: 10.53%
• 10Y*: —
• ALL TIME*: 10.76%

TORYX

• 1D: 0.29%
• 1M: 5.22%
• 6M: 14.45%
• YTD: 16.89%
• 1Y: 25.80%
• 3Y*: 16.60%
• 5Y*: 12.03%
• 10Y*: 9.93%
• ALL TIME*: 9.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TORYX Torray Equity Income Fund	$0.00	$0.00	$0.00
TQCAX Touchstone Dividend Equity Fund	$0.00	$0.00	$0.00

TQCAX vs. TORYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TQCAX Touchstone Dividend Equity Fund	12.94%	16.36%	12.60%	10.89%	-5.76%	8.12%
TORYX Torray Equity Income Fund	16.89%	14.89%	13.77%	12.57%	-0.69%	6.68%

Correlation

The correlation between TQCAX and TORYX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Jul 20, 2021	0.91

The correlation between TQCAX and TORYX shifts across timeframes, from 0.81 (1 year) to 0.92 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TQCAX vs. TORYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TQCAX

TQCAX Risk / Return Rank: 84
TQCAX Sharpe Ratio Rank: 86
TQCAX Sortino Ratio Rank: 85
TQCAX Omega Ratio Rank: 81
TQCAX Calmar Ratio Rank: 83
TQCAX Martin Ratio Rank: 87

TORYX

TORYX Risk / Return Rank: 91
TORYX Sharpe Ratio Rank: 91
TORYX Sortino Ratio Rank: 91
TORYX Omega Ratio Rank: 84
TORYX Calmar Ratio Rank: 97
TORYX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TQCAX vs. TORYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Dividend Equity Fund (TQCAX) and Torray Equity Income Fund (TORYX). 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.

	TQCAX	TORYX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.33	-0.19
Sortino ratio: Return per unit of downside risk	3.03	3.47	-0.44
Omega ratio: Gain probability vs. loss probability	1.39	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	2.95	5.55	-2.61
Martin ratio: Return relative to average drawdown	11.71	15.44	-3.74

TQCAX vs. TORYX - Sharpe Ratio Comparison

The current TQCAX Sharpe Ratio is 2.13, which is comparable to the TORYX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of TQCAX and TORYX, 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

TQCAX vs. TORYX - Drawdown Comparison

The maximum TQCAX drawdown since its inception was -18.84%, smaller than the maximum TORYX drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for TQCAX and TORYX.

Drawdown Indicators

	TQCAX	TORYX	Difference
Max Drawdown Largest peak-to-trough decline	-18.84%	-56.55%	+37.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-4.50%	-2.87%
Max Drawdown (3Y) Largest decline over 3 years	-15.96%	-14.64%	-1.32%
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	-16.53%	-2.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.31%	—
Current Drawdown Current decline from peak	-0.76%	-0.17%	-0.59%
Average Drawdown Average peak-to-trough decline	-3.63%	-7.31%	+3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.62%	+0.23%

Volatility

TQCAX vs. TORYX - Volatility Comparison

Touchstone Dividend Equity Fund (TQCAX) has a higher volatility of 2.63% compared to Torray Equity Income Fund (TORYX) at 2.39%. This indicates that TQCAX's price experiences larger fluctuations and is considered to be riskier than TORYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQCAX	TORYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	2.39%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.44%	7.66%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	10.20%	10.85%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	15.03%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	17.55%	-2.98%

TQCAX vs. TORYX - Expense Ratio Comparison

TQCAX has a 1.04% expense ratio, which is lower than TORYX's 1.07% expense ratio.

Dividends

TQCAX vs. TORYX - Dividend Comparison

TQCAX's dividend yield for the trailing twelve months is around 5.69%, less than TORYX's 28.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TORYX Torray Equity Income Fund	28.54%	32.38%	7.32%	6.47%	10.55%	10.80%	3.22%	2.66%	2.21%	7.34%	8.93%	4.30%
TQCAX Touchstone Dividend Equity Fund	5.69%	6.40%	7.16%	4.69%	5.30%	2.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TQCAX and TORYX in my portfolio?

TQCAX and TORYX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQCAX or TORYX?

TQCAX has higher volatility (2.63%) compared to TORYX (2.39%). In terms of maximum drawdown, TQCAX dropped -18.84% vs TORYX's -56.55%.

Which has better risk-adjusted returns?

TORYX currently has the higher Sharpe Ratio (2.33 vs 2.13), 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.