ACLAX vs. TWEIX

Last updated Jun 3, 2026

ACLAX (American Century Mid Cap Value Fund A Class) and TWEIX (American Century Equity Income Fund) are both mutual funds - ACLAX is a Mid Cap Value Equities fund managed by American Century, while TWEIX is a Large Cap Value Equities fund managed by American Century. Over the past 10 years, ACLAX returned 8.55%/yr vs 8.59%/yr for TWEIX. Their correlation of 0.94 suggests significant overlap in exposure. ACLAX charges 1.22%/yr vs 0.94%/yr for TWEIX.

Performance

ACLAX vs. TWEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Mid Cap Value Fund A Class (ACLAX) and American Century Equity Income Fund (TWEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACLAX achieves a 7.11% return, which is significantly higher than TWEIX's 5.54% return. Both investments have delivered pretty close results over the past 10 years, with ACLAX having a 8.55% annualized return and TWEIX not far ahead at 8.59%.

ACLAX

• 1D: -0.19%
• 1M: 0.51%
• YTD: 7.11%
• 6M: 7.56%
• 1Y: 15.50%
• 3Y*: 10.38%
• 5Y*: 6.46%
• 10Y*: 8.55%

TWEIX

• 1D: -0.45%
• 1M: -1.11%
• YTD: 5.54%
• 6M: 6.60%
• 1Y: 15.01%
• 3Y*: 10.42%
• 5Y*: 6.82%
• 10Y*: 8.59%

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

ACLAX vs. TWEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACLAX American Century Mid Cap Value Fund A Class	7.11%	8.52%	8.18%	5.93%	-1.53%	23.01%	1.44%	28.55%	-12.93%	11.31%
TWEIX American Century Equity Income Fund	5.54%	11.84%	10.51%	3.92%	-3.06%	16.83%	1.10%	24.14%	-3.77%	13.35%

Correlation

The correlation between ACLAX and TWEIX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 14, 2005	0.94

The correlation between ACLAX and TWEIX has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

ACLAX vs. TWEIX — Risk / Return Rank

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

ACLAX

ACLAX Risk / Return Rank: 20
ACLAX Sharpe Ratio Rank: 19
ACLAX Sortino Ratio Rank: 21
ACLAX Omega Ratio Rank: 18
ACLAX Calmar Ratio Rank: 21
ACLAX Martin Ratio Rank: 20

TWEIX

TWEIX Risk / Return Rank: 37
TWEIX Sharpe Ratio Rank: 37
TWEIX Sortino Ratio Rank: 42
TWEIX Omega Ratio Rank: 34
TWEIX Calmar Ratio Rank: 37
TWEIX Martin Ratio Rank: 33

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.

ACLAX vs. TWEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Mid Cap Value Fund A Class (ACLAX) and American Century Equity Income Fund (TWEIX). 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.

	ACLAX	TWEIX	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.79	-0.52
Sortino ratio Return per unit of downside risk	1.96	2.71	-0.76
Omega ratio Gain probability vs. loss probability	1.22	1.31	-0.09
Calmar ratio Return relative to maximum drawdown	1.73	2.34	-0.61
Martin ratio Return relative to average drawdown	5.54	7.74	-2.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACLAX vs. TWEIX - Sharpe Ratio Comparison

The current ACLAX Sharpe Ratio is 1.27, which is comparable to the TWEIX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of ACLAX and TWEIX, 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

	ACLAX	TWEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.79	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.64	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.65	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.75	-0.27

Drawdowns

ACLAX vs. TWEIX - Drawdown Comparison

The maximum ACLAX drawdown since its inception was -51.37%, which is greater than TWEIX's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for ACLAX and TWEIX.

Drawdown Indicators

	ACLAX	TWEIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.37%	-39.30%	-12.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-6.43%	-2.07%
Max Drawdown (3Y) Largest decline over 3 years	-14.67%	-10.16%	-4.51%
Max Drawdown (5Y) Largest decline over 5 years	-17.55%	-13.69%	-3.86%
Max Drawdown (10Y) Largest decline over 10 years	-39.24%	-32.82%	-6.42%
Current Drawdown Current decline from peak	-2.37%	-3.05%	+0.68%
Average Drawdown Average peak-to-trough decline	-6.26%	-4.16%	-2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	1.94%	+0.71%

Volatility

ACLAX vs. TWEIX - Volatility Comparison

American Century Mid Cap Value Fund A Class (ACLAX) has a higher volatility of 2.94% compared to American Century Equity Income Fund (TWEIX) at 2.15%. This indicates that ACLAX's price experiences larger fluctuations and is considered to be riskier than TWEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACLAX	TWEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.15%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	8.45%	6.22%	+2.23%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	8.37%	+3.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.65%	10.73%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	13.36%	+4.12%

ACLAX vs. TWEIX - Expense Ratio Comparison

ACLAX has a 1.22% expense ratio, which is higher than TWEIX's 0.94% expense ratio.

Dividends

ACLAX vs. TWEIX - Dividend Comparison

ACLAX's dividend yield for the trailing twelve months is around 13.23%, more than TWEIX's 9.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACLAX American Century Mid Cap Value Fund A Class	13.23%	14.24%	8.53%	5.01%	14.77%	15.72%	1.62%	1.23%	14.17%	9.25%	3.82%	10.86%
TWEIX American Century Equity Income Fund	9.82%	10.35%	11.51%	8.02%	8.76%	6.83%	2.00%	7.38%	8.79%	11.95%	7.88%	10.49%

Frequently Asked Questions

Can I hold both ACLAX and TWEIX in my portfolio?

With a correlation of 0.93, ACLAX and TWEIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ACLAX or TWEIX?

ACLAX has higher volatility (2.94%) compared to TWEIX (2.15%). In terms of maximum drawdown, ACLAX dropped -51.37% vs TWEIX's -39.30%.

Which has better risk-adjusted returns?

TWEIX currently has the higher Sharpe Ratio (1.79 vs 1.27), 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.