TSLTX vs. ITAAX

Last updated Jun 24, 2026

TSLTX (Transamerica Small Cap Value) and ITAAX (Transamerica Short-Term Bond Fund) are both mutual funds - TSLTX is a Small Cap Value Equities fund managed by Transamerica, while ITAAX is a Short-Term Bond fund managed by Transamerica. Over the past 5 years, TSLTX returned 9.46%/yr vs 2.07%/yr for ITAAX. At a 0.04 correlation, their price movements are largely independent. TSLTX charges 0.80%/yr vs 0.70%/yr for ITAAX.

Performance

TSLTX vs. ITAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Small Cap Value (TSLTX) and Transamerica Short-Term Bond Fund (ITAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLTX achieves a 25.53% return, which is significantly higher than ITAAX's 0.41% return.

TSLTX

• 1D: 0.78%
• 1M: 4.51%
• YTD: 25.53%
• 6M: 23.62%
• 1Y: 46.06%
• 3Y*: 19.98%
• 5Y*: 9.46%
• 10Y*: —

ITAAX

• 1D: -0.10%
• 1M: 0.21%
• YTD: 0.41%
• 6M: 0.86%
• 1Y: 3.32%
• 3Y*: 4.54%
• 5Y*: 2.07%
• 10Y*: 2.28%

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

TSLTX vs. ITAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TSLTX Transamerica Small Cap Value	25.53%	9.56%	12.59%	8.84%	-12.51%	31.10%	5.99%	20.91%	-16.42%
ITAAX Transamerica Short-Term Bond Fund	0.41%	5.50%	4.46%	4.70%	-4.04%	0.03%	3.16%	5.12%	1.30%

Correlation

The correlation between TSLTX and ITAAX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.04

Over the past year, TSLTX and ITAAX have become more correlated (0.26) than their long-term average of 0.04, meaning their price movements have been converging.

Return for Risk

TSLTX vs. ITAAX — Risk / Return Rank

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

TSLTX

TSLTX Risk / Return Rank: 91
TSLTX Sharpe Ratio Rank: 93
TSLTX Sortino Ratio Rank: 89
TSLTX Omega Ratio Rank: 82
TSLTX Calmar Ratio Rank: 97
TSLTX Martin Ratio Rank: 95

ITAAX

ITAAX Risk / Return Rank: 62
ITAAX Sharpe Ratio Rank: 48
ITAAX Sortino Ratio Rank: 80
ITAAX Omega Ratio Rank: 75
ITAAX Calmar Ratio Rank: 53
ITAAX Martin Ratio Rank: 55

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.

TSLTX vs. ITAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Small Cap Value (TSLTX) and Transamerica Short-Term Bond Fund (ITAAX). 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.

	TSLTX	ITAAX	Difference
Sharpe ratio: Return per unit of total volatility	2.90	1.90	+1.01
Sortino ratio: Return per unit of downside risk	4.02	3.48	+0.54
Omega ratio: Gain probability vs. loss probability	1.50	1.45	+0.05
Calmar ratio: Return relative to maximum drawdown	6.23	2.67	+3.56
Martin ratio: Return relative to average drawdown	20.75	10.45	+10.31

TSLTX vs. ITAAX - Sharpe Ratio Comparison

The current TSLTX Sharpe Ratio is 2.90, which is higher than the ITAAX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of TSLTX and ITAAX, 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

TSLTX vs. ITAAX - Drawdown Comparison

The maximum TSLTX drawdown since its inception was -55.58%, which is greater than ITAAX's maximum drawdown of -10.38%. Use the drawdown chart below to compare losses from any high point for TSLTX and ITAAX.

Drawdown Indicators

	TSLTX	ITAAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.58%	-10.38%	-45.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-1.28%	-6.45%
Max Drawdown (3Y) Largest decline over 3 years	-26.62%	-1.28%	-25.34%
Max Drawdown (5Y) Largest decline over 5 years	-55.58%	-6.55%	-49.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-10.38%	—
Current Drawdown Current decline from peak	-15.32%	-0.42%	-14.90%
Average Drawdown Average peak-to-trough decline	-28.37%	-0.69%	-27.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	0.33%	+1.99%

Volatility

TSLTX vs. ITAAX - Volatility Comparison

Transamerica Small Cap Value (TSLTX) has a higher volatility of 4.60% compared to Transamerica Short-Term Bond Fund (ITAAX) at 0.57%. This indicates that TSLTX's price experiences larger fluctuations and is considered to be riskier than ITAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLTX	ITAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	0.57%	+4.03%
Volatility (6M) Calculated over the trailing 6-month period	11.19%	1.32%	+9.87%
Volatility (1Y) Calculated over the trailing 1-year period	16.65%	1.82%	+14.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.01%	2.07%	+47.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.48%	2.18%	+41.30%

TSLTX vs. ITAAX - Expense Ratio Comparison

TSLTX has a 0.80% expense ratio, which is higher than ITAAX's 0.70% expense ratio.

Dividends

TSLTX vs. ITAAX - Dividend Comparison

TSLTX's dividend yield for the trailing twelve months is around 4.29%, more than ITAAX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITAAX Transamerica Short-Term Bond Fund	3.99%	4.03%	3.75%	2.72%	1.39%	1.30%	1.81%	2.52%	2.35%	1.96%	2.23%	2.10%
TSLTX Transamerica Small Cap Value	4.29%	5.38%	27.99%	2.99%	21.70%	77.67%	0.24%	4.26%	11.17%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLTX and ITAAX in my portfolio?

TSLTX and ITAAX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLTX or ITAAX?

TSLTX has higher volatility (4.60%) compared to ITAAX (0.57%). In terms of maximum drawdown, TSLTX dropped -55.58% vs ITAAX's -10.38%.

Which has better risk-adjusted returns?

TSLTX currently has the higher Sharpe Ratio (2.90 vs 1.90), 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.