TVRIX vs. DNVYX

Last updated Jun 6, 2026

TVRIX (Guggenheim Directional Allocation Fund) and DNVYX (Davis New York Venture Fund Class Y) are both Large Cap Growth Equities funds. Over the past 10 years, TVRIX returned 10.16%/yr vs 14.64%/yr for DNVYX. Their correlation of 0.80 suggests significant overlap in exposure. TVRIX charges 1.09%/yr vs 0.67%/yr for DNVYX.

Performance

TVRIX vs. DNVYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guggenheim Directional Allocation Fund (TVRIX) and Davis New York Venture Fund Class Y (DNVYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TVRIX having a 11.50% return and DNVYX slightly higher at 11.64%. Over the past 10 years, TVRIX has underperformed DNVYX with an annualized return of 10.16%, while DNVYX has yielded a comparatively higher 14.64% annualized return.

TVRIX

• 1D: 0.00%
• 1M: 4.56%
• YTD: 11.50%
• 6M: 11.25%
• 1Y: 26.19%
• 3Y*: 14.46%
• 5Y*: 7.36%
• 10Y*: 10.16%

DNVYX

• 1D: 0.98%
• 1M: 0.71%
• YTD: 11.64%
• 6M: 13.83%
• 1Y: 34.20%
• 3Y*: 29.65%
• 5Y*: 13.19%
• 10Y*: 14.64%

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

TVRIX vs. DNVYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TVRIX Guggenheim Directional Allocation Fund	11.50%	13.83%	7.87%	11.00%	-17.53%	27.30%	5.08%	30.45%	-7.53%	23.45%
DNVYX Davis New York Venture Fund Class Y	11.64%	27.17%	31.80%	30.49%	-17.34%	12.74%	11.68%	31.35%	-12.79%	22.51%

Correlation

The correlation between TVRIX and DNVYX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 19, 2012	0.80

The correlation between TVRIX and DNVYX shifts across timeframes, from 0.67 (5 years) to 0.80 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TVRIX vs. DNVYX — Risk / Return Rank

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

TVRIX

TVRIX Risk / Return Rank: 75
TVRIX Sharpe Ratio Rank: 80
TVRIX Sortino Ratio Rank: 76
TVRIX Omega Ratio Rank: 73
TVRIX Calmar Ratio Rank: 68
TVRIX Martin Ratio Rank: 78

DNVYX

DNVYX Risk / Return Rank: 84
DNVYX Sharpe Ratio Rank: 86
DNVYX Sortino Ratio Rank: 80
DNVYX Omega Ratio Rank: 77
DNVYX Calmar Ratio Rank: 89
DNVYX Martin Ratio Rank: 89

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.

TVRIX vs. DNVYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guggenheim Directional Allocation Fund (TVRIX) and Davis New York Venture Fund Class Y (DNVYX). 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.

	TVRIX	DNVYX	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.75	-0.17
Sortino ratio: Return per unit of downside risk	3.58	3.73	-0.15
Omega ratio: Gain probability vs. loss probability	1.47	1.49	-0.02
Calmar ratio: Return relative to maximum drawdown	3.07	4.30	-1.23
Martin ratio: Return relative to average drawdown	14.09	16.66	-2.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TVRIX vs. DNVYX - Sharpe Ratio Comparison

The current TVRIX Sharpe Ratio is 2.57, which is comparable to the DNVYX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of TVRIX and DNVYX, 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

	TVRIX	DNVYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.75	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.60	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.70	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.50	+0.11

Drawdowns

TVRIX vs. DNVYX - Drawdown Comparison

The maximum TVRIX drawdown since its inception was -39.36%, smaller than the maximum DNVYX drawdown of -58.41%. Use the drawdown chart below to compare losses from any high point for TVRIX and DNVYX.

Drawdown Indicators

	TVRIX	DNVYX	Difference
Max Drawdown Largest peak-to-trough decline	-39.36%	-58.41%	+19.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-7.97%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-24.87%	-21.44%	-3.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.87%	-31.73%	+6.86%
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	-36.97%	-2.39%
Current Drawdown Current decline from peak	-0.54%	0.00%	-0.54%
Average Drawdown Average peak-to-trough decline	-6.05%	-9.44%	+3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.05%	-0.21%

Volatility

TVRIX vs. DNVYX - Volatility Comparison

Guggenheim Directional Allocation Fund (TVRIX) has a higher volatility of 3.18% compared to Davis New York Venture Fund Class Y (DNVYX) at 2.91%. This indicates that TVRIX's price experiences larger fluctuations and is considered to be riskier than DNVYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TVRIX	DNVYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	2.91%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	8.77%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.09%	12.48%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.43%	21.91%	-7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.82%	21.12%	-3.30%

TVRIX vs. DNVYX - Expense Ratio Comparison

TVRIX has a 1.09% expense ratio, which is higher than DNVYX's 0.67% expense ratio.

Dividends

TVRIX vs. DNVYX - Dividend Comparison

TVRIX's dividend yield for the trailing twelve months is around 8.64%, less than DNVYX's 9.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNVYX Davis New York Venture Fund Class Y	9.99%	11.15%	31.98%	7.88%	7.54%	21.48%	5.93%	7.63%	23.81%	8.39%	12.88%	22.87%
TVRIX Guggenheim Directional Allocation Fund	8.64%	9.64%	0.00%	2.03%	0.71%	14.34%	0.30%	16.62%	14.33%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TVRIX and DNVYX in my portfolio?

TVRIX and DNVYX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TVRIX or DNVYX?

TVRIX has higher volatility (3.18%) compared to DNVYX (2.91%). In terms of maximum drawdown, TVRIX dropped -39.36% vs DNVYX's -58.41%.

Which has better risk-adjusted returns?

DNVYX currently has the higher Sharpe Ratio (2.75 vs 2.57), 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.