AAS.L vs. TIBAX

Last updated Jun 10, 2026

AAS.L (Abrdn Asia Focus plc) is a stock, while TIBAX (Thornburg Investment Income Builder Fund) is Global Allocation fund managed by Thornburg. Over the past 10 years, AAS.L returned 16.32%/yr vs 13.01%/yr for TIBAX. At a 0.28 correlation, their price movements are largely independent.

Performance

AAS.L vs. TIBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Abrdn Asia Focus plc (AAS.L) and Thornburg Investment Income Builder Fund (TIBAX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AAS.L is traded in GBp, while TIBAX is traded in USD. To make them comparable, the TIBAX values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with AAS.L having a 15.99% return and TIBAX slightly higher at 16.29%. Over the past 10 years, AAS.L has outperformed TIBAX with an annualized return of 16.32%, while TIBAX has yielded a comparatively lower 13.01% annualized return.

AAS.L

• 1D: 0.24%
• 1M: -8.18%
• YTD: 15.99%
• 6M: 15.36%
• 1Y: 37.00%
• 3Y*: 20.94%
• 5Y*: 13.50%
• 10Y*: 16.32%

TIBAX

• 1D: 0.21%
• 1M: 1.60%
• YTD: 16.29%
• 6M: 18.20%
• 1Y: 37.84%
• 3Y*: 22.89%
• 5Y*: 16.88%
• 10Y*: 13.01%

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

AAS.L vs. TIBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAS.L Abrdn Asia Focus plc	15.99%	26.73%	13.15%	6.64%	-10.14%	28.05%	19.52%	16.63%	4.69%	20.45%
TIBAX Thornburg Investment Income Builder Fund	16.29%	26.89%	15.20%	12.11%	2.99%	21.22%	-3.58%	13.24%	1.12%	4.90%

Correlation

The correlation between AAS.L and TIBAX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jul 6, 2007	0.28

Return for Risk

AAS.L vs. TIBAX — Risk / Return Rank

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

AAS.L

AAS.L Risk / Return Rank: 87
AAS.L Sharpe Ratio Rank: 89
AAS.L Sortino Ratio Rank: 88
AAS.L Omega Ratio Rank: 88
AAS.L Calmar Ratio Rank: 83
AAS.L Martin Ratio Rank: 87

TIBAX

TIBAX Risk / Return Rank: 97
TIBAX Sharpe Ratio Rank: 99
TIBAX Sortino Ratio Rank: 98
TIBAX Omega Ratio Rank: 96
TIBAX Calmar Ratio Rank: 97
TIBAX Martin Ratio Rank: 97

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.

AAS.L vs. TIBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Abrdn Asia Focus plc (AAS.L) and Thornburg Investment Income Builder Fund (TIBAX). 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.

	AAS.L	TIBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	4.51	-2.52
Sortino ratio: Return per unit of downside risk	2.77	6.37	-3.59
Omega ratio: Gain probability vs. loss probability	1.37	1.88	-0.51
Calmar ratio: Return relative to maximum drawdown	2.84	8.07	-5.23
Martin ratio: Return relative to average drawdown	9.46	34.10	-24.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAS.L vs. TIBAX - Sharpe Ratio Comparison

The current AAS.L Sharpe Ratio is 1.99, which is lower than the TIBAX Sharpe Ratio of 4.51. The chart below compares the historical Sharpe Ratios of AAS.L and TIBAX, 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

	AAS.L	TIBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	4.51	-2.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	1.65	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.95	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.73	-0.73

Drawdowns

AAS.L vs. TIBAX - Drawdown Comparison

The maximum AAS.L drawdown since its inception was -99.97%, which is greater than TIBAX's maximum drawdown of -29.19%. Use the drawdown chart below to compare losses from any high point for AAS.L and TIBAX.

Drawdown Indicators

	AAS.L	TIBAX	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-29.19%	-70.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.97%	-4.67%	-8.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.76%	-8.83%	-5.93%
Max Drawdown (5Y) Largest decline over 5 years	-23.17%	-8.83%	-14.34%
Max Drawdown (10Y) Largest decline over 10 years	-35.82%	-29.19%	-6.63%
Current Drawdown Current decline from peak	-78.43%	-1.57%	-76.86%
Average Drawdown Average peak-to-trough decline	-80.82%	-4.47%	-76.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	1.10%	+2.80%

Volatility

AAS.L vs. TIBAX - Volatility Comparison

Abrdn Asia Focus plc (AAS.L) has a higher volatility of 6.52% compared to Thornburg Investment Income Builder Fund (TIBAX) at 3.04%. This indicates that AAS.L's price experiences larger fluctuations and is considered to be riskier than TIBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAS.L	TIBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	3.04%	+3.48%
Volatility (6M) Calculated over the trailing 6-month period	16.04%	6.60%	+9.44%
Volatility (1Y) Calculated over the trailing 1-year period	18.53%	8.37%	+10.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.19%	10.26%	+8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	13.80%	+5.47%

Dividends

AAS.L vs. TIBAX - Dividend Comparison

AAS.L's dividend yield for the trailing twelve months is around 1.53%, less than TIBAX's 4.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAS.L Abrdn Asia Focus plc	1.53%	1.77%	2.53%	3.26%	4.11%	0.00%	8.14%	8.84%	8.40%	7.58%	5.54%	10.18%
TIBAX Thornburg Investment Income Builder Fund	4.97%	5.64%	5.44%	4.67%	5.62%	5.10%	4.11%	4.23%	4.49%	4.22%	3.83%	4.31%

Frequently Asked Questions

Can I hold both AAS.L and TIBAX in my portfolio?

AAS.L and TIBAX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.