ADSIX vs. BCHYX

Last updated Jun 5, 2026

ADSIX (American Century Disciplined Growth Fund) and BCHYX (American Century California High Yield Municipal Fund) are both mutual funds - ADSIX is a Large Cap Growth Equities fund managed by American Century, while BCHYX is a Municipal Bonds fund managed by American Century. Over the past 10 years, ADSIX returned 15.99%/yr vs 2.43%/yr for BCHYX. At a correlation of -0.07, they often move in opposite directions. ADSIX charges 0.99%/yr vs 0.49%/yr for BCHYX.

Performance

ADSIX vs. BCHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Disciplined Growth Fund (ADSIX) and American Century California High Yield Municipal Fund (BCHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADSIX achieves a 6.52% return, which is significantly higher than BCHYX's 2.00% return. Over the past 10 years, ADSIX has outperformed BCHYX with an annualized return of 15.99%, while BCHYX has yielded a comparatively lower 2.43% annualized return.

ADSIX

• 1D: -1.33%
• 1M: 6.01%
• YTD: 6.52%
• 6M: 5.78%
• 1Y: 23.45%
• 3Y*: 23.96%
• 5Y*: 13.58%
• 10Y*: 15.99%

BCHYX

• 1D: -0.10%
• 1M: 0.85%
• YTD: 2.00%
• 6M: 2.34%
• 1Y: 7.66%
• 3Y*: 4.75%
• 5Y*: 0.71%
• 10Y*: 2.43%

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

ADSIX vs. BCHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADSIX American Century Disciplined Growth Fund	6.52%	17.24%	31.19%	43.07%	-31.44%	24.46%	33.28%	30.00%	-5.57%	26.05%
BCHYX American Century California High Yield Municipal Fund	2.00%	3.48%	4.07%	6.69%	-12.77%	3.82%	3.95%	9.92%	0.65%	8.50%

Correlation

The correlation between ADSIX and BCHYX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 4, 2005	-0.07

The correlation between ADSIX and BCHYX shifts across timeframes, from -0.07 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ADSIX vs. BCHYX — Risk / Return Rank

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

ADSIX

ADSIX Risk / Return Rank: 23
ADSIX Sharpe Ratio Rank: 30
ADSIX Sortino Ratio Rank: 26
ADSIX Omega Ratio Rank: 27
ADSIX Calmar Ratio Rank: 17
ADSIX Martin Ratio Rank: 17

BCHYX

BCHYX Risk / Return Rank: 66
BCHYX Sharpe Ratio Rank: 68
BCHYX Sortino Ratio Rank: 83
BCHYX Omega Ratio Rank: 84
BCHYX Calmar Ratio Rank: 50
BCHYX Martin Ratio Rank: 45

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.

ADSIX vs. BCHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Disciplined Growth Fund (ADSIX) and American Century California High Yield Municipal Fund (BCHYX). 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.

	ADSIX	BCHYX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.42	-0.88
Sortino ratio: Return per unit of downside risk	2.11	3.98	-1.87
Omega ratio: Gain probability vs. loss probability	1.27	1.58	-0.32
Calmar ratio: Return relative to maximum drawdown	1.43	2.71	-1.29
Martin ratio: Return relative to average drawdown	4.52	9.38	-4.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADSIX vs. BCHYX - Sharpe Ratio Comparison

The current ADSIX Sharpe Ratio is 1.54, which is lower than the BCHYX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of ADSIX and BCHYX, 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

	ADSIX	BCHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	2.42	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.15	+0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.51	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	1.20	-0.63

Drawdowns

ADSIX vs. BCHYX - Drawdown Comparison

The maximum ADSIX drawdown since its inception was -53.04%, which is greater than BCHYX's maximum drawdown of -18.35%. Use the drawdown chart below to compare losses from any high point for ADSIX and BCHYX.

Drawdown Indicators

	ADSIX	BCHYX	Difference
Max Drawdown Largest peak-to-trough decline	-53.04%	-18.35%	-34.69%
Max Drawdown (1Y) Largest decline over 1 year	-16.79%	-2.97%	-13.82%
Max Drawdown (3Y) Largest decline over 3 years	-24.11%	-7.69%	-16.42%
Max Drawdown (5Y) Largest decline over 5 years	-34.49%	-18.35%	-16.14%
Max Drawdown (10Y) Largest decline over 10 years	-34.49%	-18.35%	-16.14%
Current Drawdown Current decline from peak	-1.65%	-0.10%	-1.55%
Average Drawdown Average peak-to-trough decline	-8.23%	-2.38%	-5.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	0.86%	+4.42%

Volatility

ADSIX vs. BCHYX - Volatility Comparison

American Century Disciplined Growth Fund (ADSIX) has a higher volatility of 3.55% compared to American Century California High Yield Municipal Fund (BCHYX) at 1.21%. This indicates that ADSIX's price experiences larger fluctuations and is considered to be riskier than BCHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADSIX	BCHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	1.21%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	2.36%	+9.32%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	3.33%	+12.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	4.87%	+16.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.10%	4.81%	+16.29%

ADSIX vs. BCHYX - Expense Ratio Comparison

ADSIX has a 0.99% expense ratio, which is higher than BCHYX's 0.49% expense ratio.

Dividends

ADSIX vs. BCHYX - Dividend Comparison

ADSIX's dividend yield for the trailing twelve months is around 12.77%, more than BCHYX's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADSIX American Century Disciplined Growth Fund	12.77%	13.61%	43.82%	0.04%	0.00%	21.63%	19.18%	9.12%	18.62%	9.40%	0.62%	1.76%
BCHYX American Century California High Yield Municipal Fund	3.96%	4.58%	4.41%	3.67%	2.55%	2.57%	3.07%	3.50%	3.52%	3.50%	3.59%	3.67%

Frequently Asked Questions

Can I hold both ADSIX and BCHYX in my portfolio?

ADSIX and BCHYX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADSIX or BCHYX?

ADSIX has higher volatility (3.55%) compared to BCHYX (1.21%). In terms of maximum drawdown, ADSIX dropped -53.04% vs BCHYX's -18.35%.

Which has better risk-adjusted returns?

BCHYX currently has the higher Sharpe Ratio (2.42 vs 1.54), 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.