AAIIX vs. AATIX

Last updated Jun 4, 2026

AAIIX (Ancora Income Fund) and AATIX (Ancora/Thelen Small-Mid Cap Fund) are both mutual funds - AAIIX is a Intermediate Core-Plus Bond fund managed by Ancora, while AATIX is a Small Cap Blend Equities fund managed by Ancora. Over the past 10 years, AAIIX returned 3.17%/yr vs 8.94%/yr for AATIX. At a 0.50 correlation, their price movements are largely independent. AAIIX charges 2.20%/yr vs 1.22%/yr for AATIX.

Performance

AAIIX vs. AATIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ancora Income Fund (AAIIX) and Ancora/Thelen Small-Mid Cap Fund (AATIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAIIX achieves a 2.39% return, which is significantly lower than AATIX's 4.10% return. Over the past 10 years, AAIIX has underperformed AATIX with an annualized return of 3.17%, while AATIX has yielded a comparatively higher 8.94% annualized return.

AAIIX

• 1D: -0.28%
• 1M: -0.35%
• YTD: 2.39%
• 6M: 2.46%
• 1Y: 7.71%
• 3Y*: 6.83%
• 5Y*: 2.02%
• 10Y*: 3.17%

AATIX

• 1D: 0.37%
• 1M: 1.62%
• YTD: 4.10%
• 6M: 5.98%
• 1Y: 12.84%
• 3Y*: 11.58%
• 5Y*: 3.68%
• 10Y*: 8.94%

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

AAIIX vs. AATIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAIIX Ancora Income Fund	2.39%	2.28%	9.23%	9.46%	-14.32%	9.21%	3.72%	11.08%	-5.60%	6.57%
AATIX Ancora/Thelen Small-Mid Cap Fund	4.10%	4.07%	10.12%	21.23%	-17.34%	24.46%	12.14%	24.90%	-12.42%	19.06%

Correlation

The correlation between AAIIX and AATIX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 8, 2013	0.50

The correlation between AAIIX and AATIX shifts across timeframes, from 0.50 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AAIIX vs. AATIX — Risk / Return Rank

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

AAIIX

AAIIX Risk / Return Rank: 34
AAIIX Sharpe Ratio Rank: 39
AAIIX Sortino Ratio Rank: 39
AAIIX Omega Ratio Rank: 41
AAIIX Calmar Ratio Rank: 27
AAIIX Martin Ratio Rank: 25

AATIX

AATIX Risk / Return Rank: 11
AATIX Sharpe Ratio Rank: 11
AATIX Sortino Ratio Rank: 11
AATIX Omega Ratio Rank: 10
AATIX Calmar Ratio Rank: 11
AATIX Martin Ratio Rank: 11

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.

AAIIX vs. AATIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ancora Income Fund (AAIIX) and Ancora/Thelen Small-Mid Cap Fund (AATIX). 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.

	AAIIX	AATIX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	0.84	+0.96
Sortino ratio: Return per unit of downside risk	2.62	1.32	+1.30
Omega ratio: Gain probability vs. loss probability	1.34	1.15	+0.19
Calmar ratio: Return relative to maximum drawdown	1.92	1.11	+0.82
Martin ratio: Return relative to average drawdown	6.20	3.24	+2.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAIIX vs. AATIX - Sharpe Ratio Comparison

The current AAIIX Sharpe Ratio is 1.80, which is higher than the AATIX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of AAIIX and AATIX, 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

	AAIIX	AATIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	0.84	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.19	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.00	0.43	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.48	-0.48

Drawdowns

AAIIX vs. AATIX - Drawdown Comparison

The maximum AAIIX drawdown since its inception was -98.01%, which is greater than AATIX's maximum drawdown of -43.17%. Use the drawdown chart below to compare losses from any high point for AAIIX and AATIX.

Drawdown Indicators

	AAIIX	AATIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.01%	-43.17%	-54.84%
Max Drawdown (1Y) Largest decline over 1 year	-4.19%	-13.22%	+9.03%
Max Drawdown (3Y) Largest decline over 3 years	-98.01%	-29.94%	-68.07%
Max Drawdown (5Y) Largest decline over 5 years	-98.01%	-29.94%	-68.07%
Max Drawdown (10Y) Largest decline over 10 years	-98.01%	-43.17%	-54.84%
Current Drawdown Current decline from peak	-97.78%	-7.31%	-90.47%
Average Drawdown Average peak-to-trough decline	-12.34%	-7.38%	-4.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	4.51%	-3.21%

Volatility

AAIIX vs. AATIX - Volatility Comparison

The current volatility for Ancora Income Fund (AAIIX) is 1.15%, while Ancora/Thelen Small-Mid Cap Fund (AATIX) has a volatility of 5.05%. This indicates that AAIIX experiences smaller price fluctuations and is considered to be less risky than AATIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAIIX	AATIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	5.05%	-3.90%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	12.61%	-9.39%
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	17.35%	-12.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2,044.45%	19.77%	+2,024.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1,445.64%	20.89%	+1,424.75%

AAIIX vs. AATIX - Expense Ratio Comparison

AAIIX has a 2.20% expense ratio, which is higher than AATIX's 1.22% expense ratio.

Dividends

AAIIX vs. AATIX - Dividend Comparison

AAIIX's dividend yield for the trailing twelve months is around 5.20%, less than AATIX's 8.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIIX Ancora Income Fund	5.20%	4.09%	4.57%	4.77%	4.52%	4.46%	5.68%	3.96%	4.36%	5.69%	6.40%	6.99%
AATIX Ancora/Thelen Small-Mid Cap Fund	8.43%	8.77%	0.00%	1.88%	2.21%	23.11%	0.28%	0.05%	7.60%	7.54%	0.14%	1.01%

Frequently Asked Questions

Can I hold both AAIIX and AATIX in my portfolio?

AAIIX and AATIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAIIX or AATIX?

AATIX has higher volatility (5.05%) compared to AAIIX (1.15%). In terms of maximum drawdown, AAIIX dropped -98.01% vs AATIX's -43.17%.

Which has better risk-adjusted returns?

AAIIX currently has the higher Sharpe Ratio (1.80 vs 0.84), 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.