ACHFX vs. PSHNX
ACHFX (American Century High Income Fund Class G) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 3 years, ACHFX returned 9.16%/yr vs 7.32%/yr for PSHNX. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
ACHFX vs. PSHNX - Performance Comparison
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Returns By Period
In the year-to-date period, ACHFX achieves a 1.44% return, which is significantly lower than PSHNX's 1.84% return.
ACHFX
- 1D
- 0.00%
- 1M
- 0.61%
- YTD
- 1.44%
- 6M
- 2.29%
- 1Y
- 7.57%
- 3Y*
- 9.16%
- 5Y*
- —
- 10Y*
- —
PSHNX
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 1.84%
- 6M
- 2.05%
- 1Y
- 5.89%
- 3Y*
- 7.32%
- 5Y*
- 4.82%
- 10Y*
- —
ACHFX vs. PSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ACHFX American Century High Income Fund Class G | 1.44% | 9.62% | 8.18% | 12.56% | -1.92% |
PSHNX Penn Capital Short Duration High Income Fund | 1.84% | 7.72% | 7.19% | 8.72% | 2.00% |
Correlation
The correlation between ACHFX and PSHNX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since May 23, 2022 | 0.79 |
The correlation between ACHFX and PSHNX has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.
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Return for Risk
ACHFX vs. PSHNX — Risk / Return Rank
ACHFX
PSHNX
ACHFX vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century High Income Fund Class G (ACHFX) and Penn Capital Short Duration High Income Fund (PSHNX). 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.
| ACHFX | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.77 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 5.36 | -2.28 |
| Martin ratioReturn relative to average drawdown | 15.60 | 27.21 | -11.61 |
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Drawdowns
ACHFX vs. PSHNX - Drawdown Comparison
The maximum ACHFX drawdown since its inception was -9.27%, smaller than the maximum PSHNX drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for ACHFX and PSHNX.
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Drawdown Indicators
| ACHFX | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.27% | -14.53% | +5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -1.14% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -3.89% | -2.83% | -1.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.02% | — |
Current DrawdownCurrent decline from peak | -0.23% | 0.00% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -0.88% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.23% | +0.26% |
Volatility
ACHFX vs. PSHNX - Volatility Comparison
American Century High Income Fund Class G (ACHFX) has a higher volatility of 0.89% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.44%. This indicates that ACHFX's price experiences larger fluctuations and is considered to be riskier than PSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACHFX | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.44% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 1.48% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 1.89% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.47% | 2.65% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.47% | 3.15% | +2.32% |
Dividends
ACHFX vs. PSHNX - Dividend Comparison
ACHFX's dividend yield for the trailing twelve months is around 7.34%, more than PSHNX's 6.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ACHFX American Century High Income Fund Class G | 7.34% | 7.25% | 7.24% | 5.24% | 2.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PSHNX Penn Capital Short Duration High Income Fund | 6.06% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% |
Frequently Asked Questions
ACHFX and PSHNX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACHFX has higher volatility (0.89%) compared to PSHNX (0.44%). In terms of maximum drawdown, ACHFX dropped -9.27% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (3.25 vs 2.23), 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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