VAW vs. TLVAX

Last updated Jun 24, 2026

VAW (Vanguard Materials ETF) and TLVAX (Timothy Plan Large/Mid Cap Value Fund) are both funds - VAW is a Materials fund tracking the MSCI US Investable Market Materials 25/50 Index, while TLVAX is a Mid Cap Blend Equities fund managed by Timothy Plan. Over the past 10 years, VAW returned 10.46%/yr vs 11.27%/yr for TLVAX. Their correlation of 0.85 suggests significant overlap in exposure. VAW charges 0.09%/yr vs 1.58%/yr for TLVAX.

Performance

VAW vs. TLVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Materials ETF (VAW) and Timothy Plan Large/Mid Cap Value Fund (TLVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VAW achieves a 11.07% return, which is significantly higher than TLVAX's 8.25% return. Over the past 10 years, VAW has underperformed TLVAX with an annualized return of 10.46%, while TLVAX has yielded a comparatively higher 11.27% annualized return.

VAW

• 1D: -1.83%
• 1M: 0.83%
• YTD: 11.07%
• 6M: 9.68%
• 1Y: 20.68%
• 3Y*: 11.22%
• 5Y*: 6.68%
• 10Y*: 10.46%

TLVAX

• 1D: 0.21%
• 1M: 0.13%
• YTD: 8.25%
• 6M: 7.26%
• 1Y: 9.89%
• 3Y*: 14.63%
• 5Y*: 9.98%
• 10Y*: 11.27%

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

VAW vs. TLVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAW Vanguard Materials ETF	11.07%	12.30%	0.48%	13.67%	-11.80%	27.43%	19.44%	23.53%	-17.49%	23.76%
TLVAX Timothy Plan Large/Mid Cap Value Fund	8.25%	4.80%	23.59%	13.21%	-11.70%	26.86%	13.07%	26.39%	-8.93%	17.50%

Correlation

The correlation between VAW and TLVAX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.85

The correlation between VAW and TLVAX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

Return for Risk

VAW vs. TLVAX — Risk / Return Rank

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

VAW

VAW Risk / Return Rank: 32
VAW Sharpe Ratio Rank: 32
VAW Sortino Ratio Rank: 32
VAW Omega Ratio Rank: 30
VAW Calmar Ratio Rank: 32
VAW Martin Ratio Rank: 34

TLVAX

TLVAX Risk / Return Rank: 14
TLVAX Sharpe Ratio Rank: 12
TLVAX Sortino Ratio Rank: 13
TLVAX Omega Ratio Rank: 11
TLVAX Calmar Ratio Rank: 18
TLVAX Martin Ratio Rank: 17

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.

VAW vs. TLVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Materials ETF (VAW) and Timothy Plan Large/Mid Cap Value Fund (TLVAX). 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.

	VAW	TLVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	0.90	+0.22
Sortino ratio: Return per unit of downside risk	1.65	1.37	+0.28
Omega ratio: Gain probability vs. loss probability	1.20	1.16	+0.04
Calmar ratio: Return relative to maximum drawdown	1.55	1.43	+0.12
Martin ratio: Return relative to average drawdown	4.90	4.19	+0.72

VAW vs. TLVAX - Sharpe Ratio Comparison

The current VAW Sharpe Ratio is 1.13, which is comparable to the TLVAX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of VAW and TLVAX, 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

VAW vs. TLVAX - Drawdown Comparison

The maximum VAW drawdown since its inception was -62.17%, which is greater than TLVAX's maximum drawdown of -55.23%. Use the drawdown chart below to compare losses from any high point for VAW and TLVAX.

Drawdown Indicators

	VAW	TLVAX	Difference
Max Drawdown Largest peak-to-trough decline	-62.17%	-55.23%	-6.94%
Max Drawdown (1Y) Largest decline over 1 year	-13.42%	-7.46%	-5.96%
Max Drawdown (3Y) Largest decline over 3 years	-23.21%	-14.96%	-8.25%
Max Drawdown (5Y) Largest decline over 5 years	-25.50%	-20.69%	-4.81%
Max Drawdown (10Y) Largest decline over 10 years	-41.13%	-37.34%	-3.79%
Current Drawdown Current decline from peak	-5.58%	-1.63%	-3.95%
Average Drawdown Average peak-to-trough decline	-9.62%	-8.21%	-1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	2.54%	+1.69%

Volatility

VAW vs. TLVAX - Volatility Comparison

Vanguard Materials ETF (VAW) has a higher volatility of 6.78% compared to Timothy Plan Large/Mid Cap Value Fund (TLVAX) at 3.89%. This indicates that VAW's price experiences larger fluctuations and is considered to be riskier than TLVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAW	TLVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.78%	3.89%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	8.98%	+5.88%
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	11.83%	+6.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.72%	16.12%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	17.37%	+3.86%

VAW vs. TLVAX - Expense Ratio Comparison

VAW has a 0.09% expense ratio, which is lower than TLVAX's 1.58% expense ratio.

Dividends

VAW vs. TLVAX - Dividend Comparison

VAW's dividend yield for the trailing twelve months is around 1.39%, less than TLVAX's 8.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TLVAX Timothy Plan Large/Mid Cap Value Fund	8.47%	9.16%	20.11%	0.86%	5.52%	4.35%	3.39%	11.83%	10.96%	6.78%	1.25%	12.89%
VAW Vanguard Materials ETF	1.39%	1.55%	1.70%	1.72%	1.98%	1.44%	1.67%	1.94%	2.03%	1.63%	1.67%	2.30%

Frequently Asked Questions

Can I hold both VAW and TLVAX in my portfolio?

VAW and TLVAX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VAW or TLVAX?

VAW has higher volatility (6.78%) compared to TLVAX (3.89%). In terms of maximum drawdown, VAW dropped -62.17% vs TLVAX's -55.23%.

Which has better risk-adjusted returns?

VAW currently has the higher Sharpe Ratio (1.13 vs 0.90), 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.