TVOAX vs. TEGAX

Last updated Jun 4, 2026

TVOAX (Touchstone Small Cap Value Fund) and TEGAX (Touchstone Mid Cap Growth Fund) are both mutual funds - TVOAX is a Small Cap Value Equities fund managed by Touchstone, while TEGAX is a Mid Cap Growth Equities fund managed by Touchstone. Over the past 10 years, TVOAX returned 9.42%/yr vs 13.95%/yr for TEGAX. Their correlation of 0.82 suggests significant overlap in exposure. TVOAX charges 1.38%/yr vs 1.21%/yr for TEGAX.

Performance

TVOAX vs. TEGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Small Cap Value Fund (TVOAX) and Touchstone Mid Cap Growth Fund (TEGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TVOAX having a 14.20% return and TEGAX slightly lower at 13.57%. Over the past 10 years, TVOAX has underperformed TEGAX with an annualized return of 9.42%, while TEGAX has yielded a comparatively higher 13.95% annualized return.

TVOAX

• 1D: 1.56%
• 1M: 0.72%
• YTD: 14.20%
• 6M: 13.54%
• 1Y: 31.29%
• 3Y*: 15.52%
• 5Y*: 7.62%
• 10Y*: 9.42%

TEGAX

• 1D: 0.91%
• 1M: 6.26%
• YTD: 13.57%
• 6M: 12.60%
• 1Y: 19.02%
• 3Y*: 17.68%
• 5Y*: 7.99%
• 10Y*: 13.95%

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

TVOAX vs. TEGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TVOAX Touchstone Small Cap Value Fund	14.20%	10.39%	9.64%	10.16%	-8.60%	30.20%	3.18%	24.48%	-15.71%	7.21%
TEGAX Touchstone Mid Cap Growth Fund	13.57%	9.28%	15.99%	24.20%	-26.18%	15.51%	27.10%	53.26%	-3.71%	24.17%

Correlation

The correlation between TVOAX and TEGAX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 1, 2002	0.82

Over the past year, the correlation between TVOAX and TEGAX has dropped to 0.61 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

TVOAX vs. TEGAX — Risk / Return Rank

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

TVOAX

TVOAX Risk / Return Rank: 57
TVOAX Sharpe Ratio Rank: 47
TVOAX Sortino Ratio Rank: 50
TVOAX Omega Ratio Rank: 42
TVOAX Calmar Ratio Rank: 82
TVOAX Martin Ratio Rank: 65

TEGAX

TEGAX Risk / Return Rank: 19
TEGAX Sharpe Ratio Rank: 17
TEGAX Sortino Ratio Rank: 18
TEGAX Omega Ratio Rank: 15
TEGAX Calmar Ratio Rank: 24
TEGAX Martin Ratio Rank: 23

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.

TVOAX vs. TEGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Small Cap Value Fund (TVOAX) and Touchstone Mid Cap Growth Fund (TEGAX). 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.

	TVOAX	TEGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.16	+0.86
Sortino ratio: Return per unit of downside risk	2.98	1.75	+1.23
Omega ratio: Gain probability vs. loss probability	1.35	1.20	+0.15
Calmar ratio: Return relative to maximum drawdown	3.78	1.84	+1.94
Martin ratio: Return relative to average drawdown	12.65	5.76	+6.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TVOAX vs. TEGAX - Sharpe Ratio Comparison

The current TVOAX Sharpe Ratio is 2.02, which is higher than the TEGAX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of TVOAX and TEGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TVOAX	TEGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.16	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.32	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.60	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.60	-0.25

Drawdowns

TVOAX vs. TEGAX - Drawdown Comparison

The maximum TVOAX drawdown since its inception was -61.78%, which is greater than TEGAX's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for TVOAX and TEGAX.

Drawdown Indicators

	TVOAX	TEGAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.78%	-53.30%	-8.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-10.89%	+2.08%
Max Drawdown (3Y) Largest decline over 3 years	-23.90%	-27.79%	+3.89%
Max Drawdown (5Y) Largest decline over 5 years	-23.90%	-41.38%	+17.48%
Max Drawdown (10Y) Largest decline over 10 years	-44.53%	-41.38%	-3.15%
Current Drawdown Current decline from peak	-1.16%	0.00%	-1.16%
Average Drawdown Average peak-to-trough decline	-11.87%	-9.23%	-2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	3.47%	-0.84%

Volatility

TVOAX vs. TEGAX - Volatility Comparison

Touchstone Small Cap Value Fund (TVOAX) and Touchstone Mid Cap Growth Fund (TEGAX) have volatilities of 4.67% and 4.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TVOAX	TEGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	4.86%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	11.32%	13.83%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.49%	17.30%	-0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.46%	24.99%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	23.20%	-1.67%

TVOAX vs. TEGAX - Expense Ratio Comparison

TVOAX has a 1.38% expense ratio, which is higher than TEGAX's 1.21% expense ratio.

Dividends

TVOAX vs. TEGAX - Dividend Comparison

TVOAX's dividend yield for the trailing twelve months is around 0.48%, less than TEGAX's 10.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TEGAX Touchstone Mid Cap Growth Fund	10.04%	11.40%	2.97%	0.00%	2.69%	16.97%	6.67%	13.97%	8.53%	10.06%	2.59%	8.72%
TVOAX Touchstone Small Cap Value Fund	0.48%	0.55%	0.31%	0.53%	0.02%	0.36%	0.29%	0.24%	8.30%	0.04%	0.51%	5.64%

Frequently Asked Questions

Can I hold both TVOAX and TEGAX in my portfolio?

TVOAX and TEGAX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TVOAX or TEGAX?

TEGAX has higher volatility (4.86%) compared to TVOAX (4.67%). In terms of maximum drawdown, TVOAX dropped -61.78% vs TEGAX's -53.30%.

Which has better risk-adjusted returns?

TVOAX currently has the higher Sharpe Ratio (2.02 vs 1.16), 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.