TVOAX vs. TSDOX

Last updated Aug 4, 2026

TVOAX (Touchstone Small Cap Value Fund) and TSDOX (Touchstone Ultra Short Duration Fixed Income Fund) are both mutual funds - TVOAX is a Small Cap Value Equities fund managed by Touchstone, while TSDOX is a Ultrashort Bond fund managed by Touchstone. Over the past 10 years, TVOAX returned 9.68%/yr vs 2.65%/yr for TSDOX. Their -0.05 correlation means they have often moved in opposite directions in the past. TVOAX charges 1.38%/yr vs 0.69%/yr for TSDOX.

Performance

TVOAX vs. TSDOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Small Cap Value Fund (TVOAX) and Touchstone Ultra Short Duration Fixed Income Fund (TSDOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TVOAX achieves a 19.00% return, which is significantly higher than TSDOX's 1.91% return. Over the past 10 years, TVOAX has outperformed TSDOX with an annualized return of 9.68%, while TSDOX has yielded a comparatively lower 2.65% annualized return.

TVOAX

• 1D: 0.45%
• 1M: 0.69%
• 6M: 11.16%
• YTD: 19.00%
• 1Y: 35.17%
• 3Y*: 14.05%
• 5Y*: 9.44%
• 10Y*: 9.68%
• ALL TIME*: 7.92%

TSDOX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 1.47%
• YTD: 1.91%
• 1Y: 3.84%
• 3Y*: 5.48%
• 5Y*: 3.73%
• 10Y*: 2.65%
• ALL TIME*: 2.61%

*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)
TSDOX Touchstone Ultra Short Duration Fixed Income Fund	$0.00	$0.00	$0.00
TVOAX Touchstone Small Cap Value Fund	$0.00	$0.00	$0.00

TVOAX vs. TSDOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TVOAX Touchstone Small Cap Value Fund	19.00%	10.39%	9.64%	10.16%	-8.60%	30.20%	3.18%	24.48%	-15.71%	7.21%
TSDOX Touchstone Ultra Short Duration Fixed Income Fund	1.91%	4.73%	6.87%	5.75%	-0.37%	0.20%	1.25%	3.07%	1.63%	1.32%

Correlation

The correlation between TVOAX and TSDOX is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	0.04
Correlation (10Y) Provides a long-term view across more market conditions.	-0.00
Correlation (All Time) Calculated using the full available price history since Feb 28, 2002	-0.05

The correlation between TVOAX and TSDOX shifts across timeframes, from -0.05 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TVOAX vs. TSDOX — Risk / Return Rank

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

TVOAX

TVOAX Risk / Return Rank: 86
TVOAX Sharpe Ratio Rank: 84
TVOAX Sortino Ratio Rank: 86
TVOAX Omega Ratio Rank: 77
TVOAX Calmar Ratio Rank: 92
TVOAX Martin Ratio Rank: 90

TSDOX

TSDOX Risk / Return Rank: 99
TSDOX Sharpe Ratio Rank: 96
TSDOX Sortino Ratio Rank: 99
TSDOX Omega Ratio Rank: 99
TSDOX Calmar Ratio Rank: 100
TSDOX Martin Ratio Rank: 99

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.

TVOAX vs. TSDOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Small Cap Value Fund (TVOAX) and Touchstone Ultra Short Duration Fixed Income Fund (TSDOX). 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.

	TVOAX	TSDOX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.77	-0.70
Sortino ratio: Return per unit of downside risk	3.12	7.83	-4.71
Omega ratio: Gain probability vs. loss probability	1.36	2.94	-1.58
Calmar ratio: Return relative to maximum drawdown	3.80	17.83	-14.03
Martin ratio: Return relative to average drawdown	12.97	54.11	-41.14

TVOAX vs. TSDOX - Sharpe Ratio Comparison

The current TVOAX Sharpe Ratio is 2.08, which is comparable to the TSDOX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of TVOAX and TSDOX, 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

TVOAX vs. TSDOX - Drawdown Comparison

The maximum TVOAX drawdown since its inception was -61.78%, which is greater than TSDOX's maximum drawdown of -5.27%. Use the drawdown chart below to compare losses from any high point for TVOAX and TSDOX.

Drawdown Indicators

	TVOAX	TSDOX	Difference
Max Drawdown Largest peak-to-trough decline	-61.78%	-5.27%	-56.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-0.22%	-8.59%
Max Drawdown (3Y) Largest decline over 3 years	-23.90%	-0.32%	-23.58%
Max Drawdown (5Y) Largest decline over 5 years	-23.90%	-1.50%	-22.40%
Max Drawdown (10Y) Largest decline over 10 years	-44.53%	-5.27%	-39.26%
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-11.80%	-0.18%	-11.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	0.07%	+2.51%

Volatility

TVOAX vs. TSDOX - Volatility Comparison

Touchstone Small Cap Value Fund (TVOAX) has a higher volatility of 3.14% compared to Touchstone Ultra Short Duration Fixed Income Fund (TSDOX) at 0.25%. This indicates that TVOAX's price experiences larger fluctuations and is considered to be riskier than TSDOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TVOAX	TSDOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	0.25%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	10.89%	0.96%	+9.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.15%	1.44%	+14.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.22%	1.38%	+17.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	1.33%	+20.11%

TVOAX vs. TSDOX - Expense Ratio Comparison

TVOAX has a 1.38% expense ratio, which is higher than TSDOX's 0.69% expense ratio.

Dividends

TVOAX vs. TSDOX - Dividend Comparison

TVOAX's dividend yield for the trailing twelve months is around 0.46%, less than TSDOX's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSDOX Touchstone Ultra Short Duration Fixed Income Fund	3.87%	4.51%	5.64%	4.11%	1.61%	0.86%	1.66%	2.48%	2.16%	1.64%	1.29%	1.27%
TVOAX Touchstone Small Cap Value Fund	0.46%	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 TSDOX in my portfolio?

TVOAX and TSDOX have a correlation of 0.17, 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 TSDOX?

TVOAX has higher volatility (3.14%) compared to TSDOX (0.25%). In terms of maximum drawdown, TVOAX dropped -61.78% vs TSDOX's -5.27%.

Which has better risk-adjusted returns?

TSDOX currently has the higher Sharpe Ratio (2.77 vs 2.08), 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.