TSHFX vs. IAAAX

Last updated Jun 24, 2026

TSHFX (Transamerica Asset Allocation Short Horizon) and IAAAX (Transamerica Asset Allocation Growth Portfolio Fund) are both mutual funds - TSHFX is a Intermediate Core-Plus Bond fund managed by Transamerica, while IAAAX is a Diversified Portfolio fund managed by Transamerica. Over the past 10 years, TSHFX returned 3.03%/yr vs 11.45%/yr for IAAAX. At a 0.43 correlation, their price movements are largely independent. TSHFX charges 0.83%/yr vs 0.49%/yr for IAAAX.

Performance

TSHFX vs. IAAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Asset Allocation Short Horizon (TSHFX) and Transamerica Asset Allocation Growth Portfolio Fund (IAAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSHFX achieves a 1.31% return, which is significantly lower than IAAAX's 9.34% return. Over the past 10 years, TSHFX has underperformed IAAAX with an annualized return of 3.03%, while IAAAX has yielded a comparatively higher 11.45% annualized return.

TSHFX

• 1D: -0.23%
• 1M: 0.47%
• YTD: 1.31%
• 6M: 1.23%
• 1Y: 5.38%
• 3Y*: 5.80%
• 5Y*: 1.64%
• 10Y*: 3.03%

IAAAX

• 1D: -0.43%
• 1M: 1.26%
• YTD: 9.34%
• 6M: 8.45%
• 1Y: 24.54%
• 3Y*: 19.38%
• 5Y*: 9.38%
• 10Y*: 11.45%

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

TSHFX vs. IAAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TSHFX Transamerica Asset Allocation Short Horizon	1.31%	7.47%	4.35%	7.43%	-12.32%	2.59%	8.42%	9.74%	-1.62%	5.15%
IAAAX Transamerica Asset Allocation Growth Portfolio Fund	9.34%	21.45%	17.37%	20.04%	-19.24%	16.14%	18.87%	21.75%	-11.48%	20.17%

Correlation

The correlation between TSHFX and IAAAX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 5, 2002	0.43

Over the past year, TSHFX and IAAAX have become more correlated (0.72) than their long-term average of 0.43, meaning their price movements have been converging.

Return for Risk

TSHFX vs. IAAAX — Risk / Return Rank

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

TSHFX

TSHFX Risk / Return Rank: 38
TSHFX Sharpe Ratio Rank: 37
TSHFX Sortino Ratio Rank: 38
TSHFX Omega Ratio Rank: 38
TSHFX Calmar Ratio Rank: 34
TSHFX Martin Ratio Rank: 42

IAAAX

IAAAX Risk / Return Rank: 50
IAAAX Sharpe Ratio Rank: 48
IAAAX Sortino Ratio Rank: 46
IAAAX Omega Ratio Rank: 47
IAAAX Calmar Ratio Rank: 51
IAAAX Martin Ratio Rank: 61

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.

TSHFX vs. IAAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Asset Allocation Short Horizon (TSHFX) and Transamerica Asset Allocation Growth Portfolio Fund (IAAAX). 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.

	TSHFX	IAAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.88	-0.25
Sortino ratio: Return per unit of downside risk	2.38	2.63	-0.25
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.09	2.61	-0.52
Martin ratio: Return relative to average drawdown	8.46	11.46	-3.00

TSHFX vs. IAAAX - Sharpe Ratio Comparison

The current TSHFX Sharpe Ratio is 1.63, which is comparable to the IAAAX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of TSHFX and IAAAX, 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

TSHFX vs. IAAAX - Drawdown Comparison

The maximum TSHFX drawdown since its inception was -23.90%, smaller than the maximum IAAAX drawdown of -56.57%. Use the drawdown chart below to compare losses from any high point for TSHFX and IAAAX.

Drawdown Indicators

	TSHFX	IAAAX	Difference
Max Drawdown Largest peak-to-trough decline	-23.90%	-56.57%	+32.67%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-9.85%	+7.08%
Max Drawdown (3Y) Largest decline over 3 years	-4.88%	-17.90%	+13.02%
Max Drawdown (5Y) Largest decline over 5 years	-15.84%	-29.29%	+13.45%
Max Drawdown (10Y) Largest decline over 10 years	-15.84%	-35.34%	+19.50%
Current Drawdown Current decline from peak	-0.46%	-0.91%	+0.45%
Average Drawdown Average peak-to-trough decline	-4.94%	-9.51%	+4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	2.24%	-1.56%

Volatility

TSHFX vs. IAAAX - Volatility Comparison

The current volatility for Transamerica Asset Allocation Short Horizon (TSHFX) is 1.35%, while Transamerica Asset Allocation Growth Portfolio Fund (IAAAX) has a volatility of 4.97%. This indicates that TSHFX experiences smaller price fluctuations and is considered to be less risky than IAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSHFX	IAAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	4.97%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	10.96%	-8.13%
Volatility (1Y) Calculated over the trailing 1-year period	3.55%	13.68%	-10.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	16.44%	-11.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.14%	16.90%	-12.76%

TSHFX vs. IAAAX - Expense Ratio Comparison

TSHFX has a 0.83% expense ratio, which is higher than IAAAX's 0.49% expense ratio.

Dividends

TSHFX vs. IAAAX - Dividend Comparison

TSHFX's dividend yield for the trailing twelve months is around 4.04%, less than IAAAX's 6.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAAAX Transamerica Asset Allocation Growth Portfolio Fund	6.60%	7.21%	5.16%	2.79%	8.74%	8.25%	4.13%	9.02%	19.05%	11.01%	8.16%	9.44%
TSHFX Transamerica Asset Allocation Short Horizon	4.04%	4.22%	13.42%	3.48%	4.84%	5.63%	4.22%	2.95%	3.30%	2.20%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSHFX and IAAAX in my portfolio?

TSHFX and IAAAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSHFX or IAAAX?

IAAAX has higher volatility (4.97%) compared to TSHFX (1.35%). In terms of maximum drawdown, TSHFX dropped -23.90% vs IAAAX's -56.57%.

Which has better risk-adjusted returns?

IAAAX currently has the higher Sharpe Ratio (1.88 vs 1.63), 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.