ABHYX vs. FAGIX
ABHYX (American Century High-Yield Municipal Fund) and FAGIX (Fidelity Capital & Income Fund) are both mutual funds - ABHYX is a High Yield Muni fund managed by American Century, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. Over the past 10 years, ABHYX returned 2.61%/yr vs 7.47%/yr for FAGIX. Their 0.10 correlation means their historical movements had little consistent relationship. ABHYX charges 0.59%/yr vs 0.67%/yr for FAGIX.
Performance
ABHYX vs. FAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, ABHYX achieves a 1.21% return, which is significantly lower than FAGIX's 5.47% return. Over the past 10 years, ABHYX has underperformed FAGIX with an annualized return of 2.61%, while FAGIX has yielded a comparatively higher 7.47% annualized return.
ABHYX
- 1D
- -0.35%
- 1M
- -2.15%
- 6M
- 0.61%
- YTD
- 1.21%
- 1Y
- 6.52%
- 3Y*
- 4.69%
- 5Y*
- 0.30%
- 10Y*
- 2.61%
- ALL TIME*
- 4.10%
FAGIX
- 1D
- 1.00%
- 1M
- -1.59%
- 6M
- 3.79%
- YTD
- 5.47%
- 1Y
- 11.22%
- 3Y*
- 11.21%
- 5Y*
- 6.17%
- 10Y*
- 7.47%
- ALL TIME*
- 6.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ABHYX vs. FAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ABHYX American Century High-Yield Municipal Fund | 1.21% | 3.77% | 6.16% | 5.90% | -13.90% | 5.61% | 4.68% | 9.72% | 1.48% | 9.27% |
FAGIX Fidelity Capital & Income Fund | 5.47% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 11.66% |
Correlation
The correlation between ABHYX and FAGIX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 1998 | 0.10 |
The correlation between ABHYX and FAGIX shifts across timeframes, from 0.10 (all time) to 0.31 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ABHYX vs. FAGIX — Risk / Return Rank
ABHYX
FAGIX
ABHYX vs. FAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century High-Yield Municipal Fund (ABHYX) and Fidelity Capital & Income Fund (FAGIX). 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.
| ABHYX | FAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.28 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.72 | -0.31 |
| Martin ratioReturn relative to average drawdown | 8.39 | 10.26 | -1.87 |
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Drawdowns
ABHYX vs. FAGIX - Drawdown Comparison
The maximum ABHYX drawdown since its inception was -26.34%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for ABHYX and FAGIX.
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Drawdown Indicators
| ABHYX | FAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.34% | -37.97% | +11.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -4.02% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -6.60% | -7.26% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -15.42% | -3.12% |
Max Drawdown (10Y)Largest decline over 10 years | -18.54% | -28.45% | +9.91% |
Current DrawdownCurrent decline from peak | -2.15% | -3.07% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -6.97% | +3.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.06% | -0.16% |
Volatility
ABHYX vs. FAGIX - Volatility Comparison
The current volatility for American Century High-Yield Municipal Fund (ABHYX) is 1.06%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 2.24%. This indicates that ABHYX experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABHYX | FAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 2.24% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 5.94% | -3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 7.04% | -3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.97% | 6.79% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 7.84% | -2.85% |
ABHYX vs. FAGIX - Expense Ratio Comparison
ABHYX has a 0.59% expense ratio, which is lower than FAGIX's 0.67% expense ratio.
Dividends
ABHYX vs. FAGIX - Dividend Comparison
ABHYX's dividend yield for the trailing twelve months is around 4.00%, less than FAGIX's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABHYX American Century High-Yield Municipal Fund | 4.00% | 5.11% | 4.96% | 4.02% | 2.77% | 3.50% | 3.35% | 4.08% | 3.90% | 3.61% | 3.61% | 3.91% |
FAGIX Fidelity Capital & Income Fund | 5.05% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
Frequently Asked Questions
ABHYX and FAGIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAGIX has higher volatility (2.24%) compared to ABHYX (1.06%). In terms of maximum drawdown, ABHYX dropped -26.34% vs FAGIX's -37.97%.
ABHYX currently has the higher Sharpe Ratio (2.27 vs 1.55), 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.
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