Fund Evaluator:
Transamerica Small Cap Growth I2 (TSPIX)
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Best Performing in Small Growth Over the Last Year
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Fund Details
Transamerica Small Cap Growth I2 Overview
Transamerica Small Cap Growth I2 (TSPIX) is an actively managed U.S. Equity Small Growth fund. Transamerica launched the fund in 2012.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of borrowing, if any, for investment purposes) in stocks of small capitalization companies. The fund's sub-adviser primarily focuses on seeking to identify high quality, high-growth small capitalization companies. It may invest in foreign securities through American Depositary Receipts ("ADRs"), and generally will not invest more than 10% of fund assets in foreign securities.
About Transamerica Small Cap Growth I2 (TSPIX)
There are 4 members of the management team with an average tenure of 9.05 years: W. Doenges (2012), Joseph LaBate (2017), Andrew Hill (2017), Brown McCullough (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 Growth TR USD index with a weighting of 100%. Transamerica Small Cap Growth I2 has 59 securities in its portfolio. The top 10 holdings constitute 32.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Transamerica Small Cap Growth I2 is part of the Equity global asset class and is within the U.S. Equity fund group. Transamerica Small Cap Growth I2 has 1.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.7%. There is 1.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Transamerica Small Cap Growth I2 has 2.6% of the portfolio in cash.
Assets Under Management
The fund has $43 million in total assets, which is below the $431 million average for the Small Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TSPIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Transamerica Small Cap Growth I2 expense ratio is high compared to funds in the Small Growth category. Transamerica Small Cap Growth I2 has an expense ratio of 1.00%, which is 15% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Transamerica Small Cap Growth I2 has a portfolio turnover rate of 47%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Small Growth category.
Recently, in the month of July 2026, Transamerica Small Cap Growth I2 returned -8.3%, which earned it a grade of D, as the Small Growth category had an average return of -6.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Transamerica Small Cap Growth I2 has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Transamerica Small Cap Growth I2 Grades
Year to date, the fund has returned 4.7%, 8.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 5.4% over the past year (grade of F), 3.1% over the past three years (grade of F) and -1.6% per year over the past five years (grade of F) and 7.7% per year over the past 10 years (grade of F).
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TSPIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TSPIX Return (NAV) | -8.3% | 0.9% | 5.4% | 3.1% | -1.6% | 7.7% |
| TSPIX Grade | D | D | F | F | F | F |
| +/- Category | -1.5% | -2.8% | -17.3% | -9.3% | -4.9% | -3.5% |
| Small Growth Avg | -6.7% | 3.7% | 22.7% | 12.4% | 3.3% | 11.2% |
| TSPIX Tax Cost Ratio | na | na | 3.0% | 2.2% | 2.1% | 3.3% |
TSPIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TSPIX Return (NAV) | 4.7% | -2.9% | 6.3% | 20.1% | -30.8% | 17.9% | 32.3% | 29.7% | -7.4% | 15.7% | 19.6% |
| TSPIX Grade | F | F | F | B | D | A | D | C | D | F | A |
| +/- Category | -8.9% | -10.9% | -9.2% | 3.3% | -2.9% | 7.4% | -9.5% | -0.2% | -3.3% | -8.4% | 9.4% |
| Small Growth Avg | 13.6% | 8.0% | 15.5% | 16.7% | -27.9% | 10.5% | 41.8% | 29.9% | -4.1% | 24.1% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 19.0% |
| Total Risk Index: | 1.55 - High |
| Category Risk Index: | 0.92 - Below Average |
| Category Risk Grade: | B (30% Rank) |
| Beta: | 1.15 |
| R-Squared: | 63% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $80 Mil |
| Fund Total Assets: | $ 43 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 47% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.9 years | |||
| Average Tenure: 9.0 years | |||
| Managers (Year): Doenges W. (2012), LaBate Joseph (2017), Hill Andrew (2017), McCullough Brown (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 59 |
| % in Top 10 Holdings: | 32.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.7% |
Portfolio Allocation |
|
| Domestic Stock: | 95.7% |
| Foreign Stock: | 1.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.6% |
Purchase Information
| Fund Family: | Transamerica |
| Phone Number: | 888-233-4339 |
| Website: | www.transamericafunds.com |
| Status: | Open |
| Inception Date: | August 31, 2012 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.00% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | Transamerica Small Cap Growth I3 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
