TWQZX vs. IIVAX

Last updated Jun 5, 2026

TWQZX (Transamerica Large Cap Value Fund) and IIVAX (Transamerica Small/Mid Cap Value Fund) are both mutual funds - TWQZX is a Large Cap Value Equities fund managed by Transamerica, while IIVAX is a Mid Cap Value Equities fund managed by Transamerica. Over the past 10 years, TWQZX returned 11.43%/yr vs 9.93%/yr for IIVAX. Their correlation of 0.90 suggests significant overlap in exposure. TWQZX charges 0.61%/yr vs 1.23%/yr for IIVAX.

Performance

TWQZX vs. IIVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Large Cap Value Fund (TWQZX) and Transamerica Small/Mid Cap Value Fund (IIVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWQZX achieves a 8.76% return, which is significantly lower than IIVAX's 9.97% return. Over the past 10 years, TWQZX has outperformed IIVAX with an annualized return of 11.43%, while IIVAX has yielded a comparatively lower 9.93% annualized return.

TWQZX

• 1D: -0.21%
• 1M: 1.52%
• YTD: 8.76%
• 6M: 11.22%
• 1Y: 29.66%
• 3Y*: 20.51%
• 5Y*: 12.33%
• 10Y*: 11.43%

IIVAX

• 1D: -0.84%
• 1M: 0.78%
• YTD: 9.97%
• 6M: 10.55%
• 1Y: 23.25%
• 3Y*: 13.42%
• 5Y*: 6.71%
• 10Y*: 9.93%

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

TWQZX vs. IIVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWQZX Transamerica Large Cap Value Fund	8.76%	23.94%	17.19%	13.20%	-7.13%	31.23%	1.29%	18.09%	-10.40%	12.48%
IIVAX Transamerica Small/Mid Cap Value Fund	9.97%	9.49%	8.57%	12.02%	-8.35%	27.49%	3.25%	24.62%	-11.87%	15.16%

Correlation

The correlation between TWQZX and IIVAX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 17, 2010	0.90

The correlation between TWQZX and IIVAX shifts across timeframes, from 0.79 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TWQZX vs. IIVAX — Risk / Return Rank

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

TWQZX

TWQZX Risk / Return Rank: 82
TWQZX Sharpe Ratio Rank: 82
TWQZX Sortino Ratio Rank: 80
TWQZX Omega Ratio Rank: 74
TWQZX Calmar Ratio Rank: 84
TWQZX Martin Ratio Rank: 90

IIVAX

IIVAX Risk / Return Rank: 39
IIVAX Sharpe Ratio Rank: 35
IIVAX Sortino Ratio Rank: 37
IIVAX Omega Ratio Rank: 33
IIVAX Calmar Ratio Rank: 46
IIVAX Martin Ratio Rank: 43

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.

TWQZX vs. IIVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Large Cap Value Fund (TWQZX) and Transamerica Small/Mid Cap Value Fund (IIVAX). 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.

	TWQZX	IIVAX	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.68	+0.97
Sortino ratio: Return per unit of downside risk	3.78	2.51	+1.27
Omega ratio: Gain probability vs. loss probability	1.48	1.29	+0.18
Calmar ratio: Return relative to maximum drawdown	3.88	2.57	+1.31
Martin ratio: Return relative to average drawdown	17.40	8.87	+8.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWQZX vs. IIVAX - Sharpe Ratio Comparison

The current TWQZX Sharpe Ratio is 2.64, which is higher than the IIVAX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TWQZX and IIVAX, 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

	TWQZX	IIVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.68	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.36	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.49	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.49	+0.22

Drawdowns

TWQZX vs. IIVAX - Drawdown Comparison

The maximum TWQZX drawdown since its inception was -42.44%, smaller than the maximum IIVAX drawdown of -57.38%. Use the drawdown chart below to compare losses from any high point for TWQZX and IIVAX.

Drawdown Indicators

	TWQZX	IIVAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.44%	-57.38%	+14.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-8.87%	+1.26%
Max Drawdown (3Y) Largest decline over 3 years	-15.22%	-19.76%	+4.54%
Max Drawdown (5Y) Largest decline over 5 years	-18.69%	-23.12%	+4.43%
Max Drawdown (10Y) Largest decline over 10 years	-42.44%	-44.13%	+1.69%
Current Drawdown Current decline from peak	-0.53%	-0.84%	+0.31%
Average Drawdown Average peak-to-trough decline	-4.40%	-8.34%	+3.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	2.56%	-0.87%

Volatility

TWQZX vs. IIVAX - Volatility Comparison

Transamerica Large Cap Value Fund (TWQZX) and Transamerica Small/Mid Cap Value Fund (IIVAX) have volatilities of 3.14% and 3.08%, 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

	TWQZX	IIVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	3.08%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	8.96%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.18%	13.63%	-2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	18.58%	-2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	20.48%	-2.23%

TWQZX vs. IIVAX - Expense Ratio Comparison

TWQZX has a 0.61% expense ratio, which is lower than IIVAX's 1.23% expense ratio.

Dividends

TWQZX vs. IIVAX - Dividend Comparison

TWQZX's dividend yield for the trailing twelve months is around 3.66%, less than IIVAX's 9.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIVAX Transamerica Small/Mid Cap Value Fund	9.62%	10.58%	12.75%	4.83%	9.72%	10.94%	0.48%	3.17%	12.58%	13.20%	5.91%	9.34%
TWQZX Transamerica Large Cap Value Fund	3.66%	4.01%	3.06%	8.74%	7.07%	2.41%	1.97%	4.88%	13.02%	13.17%	9.91%	13.44%

Frequently Asked Questions

Can I hold both TWQZX and IIVAX in my portfolio?

TWQZX and IIVAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWQZX or IIVAX?

TWQZX has higher volatility (3.14%) compared to IIVAX (3.08%). In terms of maximum drawdown, TWQZX dropped -42.44% vs IIVAX's -57.38%.

Which has better risk-adjusted returns?

TWQZX currently has the higher Sharpe Ratio (2.64 vs 1.68), 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.