TSWIX vs. IMLAX

Last updated Jun 24, 2026

TSWIX (Transamerica International Equity) and IMLAX (Transamerica Asset Allocation Moderate Growth Portfolio Fund) are both mutual funds - TSWIX is a Foreign Large Cap Equities fund managed by Transamerica, while IMLAX is a Diversified Portfolio fund managed by Transamerica. Over the past 10 years, TSWIX returned 9.69%/yr vs 9.02%/yr for IMLAX. A 0.77 correlation means they provide meaningful diversification when combined. TSWIX charges 0.84%/yr vs 0.47%/yr for IMLAX.

Performance

TSWIX vs. IMLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica International Equity (TSWIX) and Transamerica Asset Allocation Moderate Growth Portfolio Fund (IMLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSWIX achieves a 12.68% return, which is significantly higher than IMLAX's 6.87% return. Over the past 10 years, TSWIX has outperformed IMLAX with an annualized return of 9.69%, while IMLAX has yielded a comparatively lower 9.02% annualized return.

TSWIX

• 1D: -0.18%
• 1M: 1.70%
• YTD: 12.68%
• 6M: 12.55%
• 1Y: 27.18%
• 3Y*: 18.31%
• 5Y*: 9.45%
• 10Y*: 9.69%

IMLAX

• 1D: -0.40%
• 1M: 1.21%
• YTD: 6.87%
• 6M: 6.30%
• 1Y: 18.75%
• 3Y*: 15.31%
• 5Y*: 6.93%
• 10Y*: 9.02%

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

TSWIX vs. IMLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TSWIX Transamerica International Equity	12.68%	32.53%	3.55%	16.09%	-14.05%	13.23%	6.75%	21.14%	-15.95%	22.58%
IMLAX Transamerica Asset Allocation Moderate Growth Portfolio Fund	6.87%	17.98%	13.11%	15.70%	-17.36%	11.37%	16.92%	17.82%	-8.54%	15.88%

Correlation

The correlation between TSWIX and IMLAX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 5, 2002	0.77

The correlation between TSWIX and IMLAX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

TSWIX vs. IMLAX — Risk / Return Rank

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

TSWIX

TSWIX Risk / Return Rank: 43
TSWIX Sharpe Ratio Rank: 44
TSWIX Sortino Ratio Rank: 44
TSWIX Omega Ratio Rank: 45
TSWIX Calmar Ratio Rank: 41
TSWIX Martin Ratio Rank: 43

IMLAX

IMLAX Risk / Return Rank: 51
IMLAX Sharpe Ratio Rank: 48
IMLAX Sortino Ratio Rank: 48
IMLAX Omega Ratio Rank: 48
IMLAX Calmar Ratio Rank: 49
IMLAX Martin Ratio Rank: 60

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.

TSWIX vs. IMLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica International Equity (TSWIX) and Transamerica Asset Allocation Moderate Growth Portfolio Fund (IMLAX). 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.

	TSWIX	IMLAX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.88	-0.08
Sortino ratio: Return per unit of downside risk	2.57	2.67	-0.09
Omega ratio: Gain probability vs. loss probability	1.33	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	2.31	2.58	-0.26
Martin ratio: Return relative to average drawdown	8.66	11.22	-2.57

TSWIX vs. IMLAX - Sharpe Ratio Comparison

The current TSWIX Sharpe Ratio is 1.81, which is comparable to the IMLAX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of TSWIX and IMLAX, 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

TSWIX vs. IMLAX - Drawdown Comparison

The maximum TSWIX drawdown since its inception was -58.76%, which is greater than IMLAX's maximum drawdown of -46.65%. Use the drawdown chart below to compare losses from any high point for TSWIX and IMLAX.

Drawdown Indicators

	TSWIX	IMLAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.76%	-46.65%	-12.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-7.62%	-4.45%
Max Drawdown (3Y) Largest decline over 3 years	-16.33%	-12.99%	-3.34%
Max Drawdown (5Y) Largest decline over 5 years	-30.25%	-25.32%	-4.93%
Max Drawdown (10Y) Largest decline over 10 years	-39.58%	-27.36%	-12.22%
Current Drawdown Current decline from peak	-0.18%	-0.66%	+0.48%
Average Drawdown Average peak-to-trough decline	-13.81%	-6.69%	-7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	1.75%	+1.47%

Volatility

TSWIX vs. IMLAX - Volatility Comparison

Transamerica International Equity (TSWIX) has a higher volatility of 4.62% compared to Transamerica Asset Allocation Moderate Growth Portfolio Fund (IMLAX) at 3.85%. This indicates that TSWIX's price experiences larger fluctuations and is considered to be riskier than IMLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSWIX	IMLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	3.85%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	12.62%	8.50%	+4.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.46%	10.44%	+5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	12.07%	+4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	12.20%	+5.14%

TSWIX vs. IMLAX - Expense Ratio Comparison

TSWIX has a 0.84% expense ratio, which is higher than IMLAX's 0.47% expense ratio.

Dividends

TSWIX vs. IMLAX - Dividend Comparison

TSWIX's dividend yield for the trailing twelve months is around 6.82%, more than IMLAX's 6.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMLAX Transamerica Asset Allocation Moderate Growth Portfolio Fund	6.46%	6.90%	6.44%	3.39%	3.62%	8.40%	4.06%	7.35%	15.09%	9.95%	6.99%	7.99%
TSWIX Transamerica International Equity	6.82%	7.68%	3.03%	3.16%	1.12%	3.55%	1.22%	2.75%	5.56%	3.08%	1.90%	2.64%

Frequently Asked Questions

Can I hold both TSWIX and IMLAX in my portfolio?

TSWIX and IMLAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSWIX or IMLAX?

TSWIX has higher volatility (4.62%) compared to IMLAX (3.85%). In terms of maximum drawdown, TSWIX dropped -58.76% vs IMLAX's -46.65%.

Which has better risk-adjusted returns?

IMLAX currently has the higher Sharpe Ratio (1.88 vs 1.81), 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.