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AMG Veritas China Fund (MMCFX) Sharpe Ratio: 1.29

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

The investment seeks to achieve long-term capital appreciation. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of issuers located in China or issuers that are not located in China but derive a majority (over 50%) of their income from China. It primarily invests in equity securities. Under normal circumstances, the adviser considers equity securities to include common and preferred stocks, as well as securities with equity characteristics, including, but not limited to, equity-linked notes and participation notes.

MMCFX's Sharpe Ratio of 1.29 indicates that for each unit of volatility, it generates 1.29 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 24, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

MMCFX Sharpe Ratio Rank

MMCFX Sharpe Ratio Rank: 24.424
Below Average

MMCFX ranks above 24.4% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

MMCFX Sharpe Ratio Market Positioning

The chart shows MMCFX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.30 or lower
  • Yellow zone (middle 50%): 1.30 to 2.32
  • Green zone (top 25%): 2.32 or higher
  • Top 1%: 4.30+
  • Median: 1.93 — half of all investments score higher

How it compares to other similar mutual funds

The table compares AMG Veritas China Fund's Sharpe Ratio with other mutual funds in the China Equities category across multiple time periods, showing how MMCFX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 24, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
TRCLXT. Rowe Price China Evolution Equity Fund4.01
MCSMXMatthews China Small Companies Fund3.77
FIQFXFidelity Advisor China Region Fund Class Z3.57
FHKIXFidelity Advisor China Region Fund Class I3.56
FHKCXFidelity China Region Fund3.56
FHKAXFidelity Advisor China Region Fund Class A3.54
FHKTXFidelity Advisor China Region Fund Class M3.52
FCHKXFidelity Advisor China Region Fund Class C3.48
OBCHXOberweis China Opportunities Fund2.97
CAFMorgan Stanley China A Share Fund2.69
MMCFXAMG Veritas China Fund1.29

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows MMCFX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when MMCFX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does MMCFX fit in your portfolio?

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