AEPFX vs. AMECX

Last updated Aug 1, 2026

AEPFX (American Funds EUPAC Fund Class F-2) and AMECX (American Funds The Income Fund of America Class A) are both mutual funds - AEPFX is a Foreign Large Cap Equities fund actively managed by American Funds, while AMECX is a Diversified Portfolio fund actively managed by American Funds. Both are actively managed. Over the past 10 years, AEPFX returned 8.53%/yr vs 8.35%/yr for AMECX. Their correlation of 0.82 means they have usually moved in the same direction. AEPFX charges 0.58%/yr vs 0.56%/yr for AMECX.

Performance

AEPFX vs. AMECX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds EUPAC Fund Class F-2 (AEPFX) and American Funds The Income Fund of America Class A (AMECX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEPFX achieves a 9.52% return, which is significantly higher than AMECX's 8.47% return. Both investments have delivered pretty close results over the past 10 years, with AEPFX having a 8.53% annualized return and AMECX not far behind at 8.35%.

AEPFX

• 1D: 3.16%
• 1M: -0.78%
• 6M: 3.79%
• YTD: 9.52%
• 1Y: 24.52%
• 3Y*: 13.50%
• 5Y*: 4.99%
• 10Y*: 8.53%
• ALL TIME*: 5.80%

AMECX

• 1D: 0.25%
• 1M: 1.23%
• 6M: 4.62%
• YTD: 8.47%
• 1Y: 16.31%
• 3Y*: 13.17%
• 5Y*: 8.30%
• 10Y*: 8.35%
• ALL TIME*: 7.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AEPFX American Funds EUPAC Fund Class F-2	$0.00	$0.00	$0.00
AMECX American Funds The Income Fund of America Class A	$0.00	$0.00	$0.00

AEPFX vs. AMECX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEPFX American Funds EUPAC Fund Class F-2	9.52%	29.19%	2.89%	15.98%	-22.86%	2.74%	25.12%	27.28%	-17.41%	31.04%
AMECX American Funds The Income Fund of America Class A	8.47%	17.77%	10.84%	6.79%	-6.40%	17.37%	4.49%	18.50%	-5.27%	12.58%

Correlation

The correlation between AEPFX and AMECX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Aug 1, 2008	0.82

The correlation between AEPFX and AMECX shifts across timeframes, from 0.64 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AEPFX vs. AMECX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AEPFX

AEPFX Risk / Return Rank: 48
AEPFX Sharpe Ratio Rank: 48
AEPFX Sortino Ratio Rank: 48
AEPFX Omega Ratio Rank: 49
AEPFX Calmar Ratio Rank: 48
AEPFX Martin Ratio Rank: 45

AMECX

AMECX Risk / Return Rank: 81
AMECX Sharpe Ratio Rank: 86
AMECX Sortino Ratio Rank: 84
AMECX Omega Ratio Rank: 82
AMECX Calmar Ratio Rank: 78
AMECX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AEPFX vs. AMECX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds EUPAC Fund Class F-2 (AEPFX) and American Funds The Income Fund of America Class A (AMECX). 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.

	AEPFX	AMECX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.06	-0.75
Sortino ratio: Return per unit of downside risk	1.89	2.94	-1.05
Omega ratio: Gain probability vs. loss probability	1.24	1.37	-0.13
Calmar ratio: Return relative to maximum drawdown	1.81	2.49	-0.68
Martin ratio: Return relative to average drawdown	6.41	9.13	-2.73

AEPFX vs. AMECX - Sharpe Ratio Comparison

The current AEPFX Sharpe Ratio is 1.31, which is lower than the AMECX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of AEPFX and AMECX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AEPFX vs. AMECX - Drawdown Comparison

The maximum AEPFX drawdown since its inception was -48.79%, which is greater than AMECX's maximum drawdown of -41.92%. Use the drawdown chart below to compare losses from any high point for AEPFX and AMECX.

Drawdown Indicators

	AEPFX	AMECX	Difference
Max Drawdown Largest peak-to-trough decline	-48.79%	-41.92%	-6.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.54%	-6.13%	-6.41%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-8.58%	-7.06%
Max Drawdown (5Y) Largest decline over 5 years	-37.37%	-15.78%	-21.59%
Max Drawdown (10Y) Largest decline over 10 years	-37.37%	-26.13%	-11.24%
Current Drawdown Current decline from peak	-3.53%	-0.18%	-3.35%
Average Drawdown Average peak-to-trough decline	-10.94%	-4.44%	-6.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	1.67%	+1.86%

Volatility

AEPFX vs. AMECX - Volatility Comparison

American Funds EUPAC Fund Class F-2 (AEPFX) has a higher volatility of 5.66% compared to American Funds The Income Fund of America Class A (AMECX) at 1.99%. This indicates that AEPFX's price experiences larger fluctuations and is considered to be riskier than AMECX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEPFX	AMECX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.66%	1.99%	+3.67%
Volatility (6M) Calculated over the trailing 6-month period	15.23%	5.86%	+9.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	7.41%	+9.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	9.43%	+7.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	10.63%	+6.25%

AEPFX vs. AMECX - Expense Ratio Comparison

AEPFX has a 0.58% expense ratio, which is higher than AMECX's 0.56% expense ratio.

Dividends

AEPFX vs. AMECX - Dividend Comparison

AEPFX's dividend yield for the trailing twelve months is around 16.75%, more than AMECX's 9.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEPFX American Funds EUPAC Fund Class F-2	16.75%	13.92%	4.86%	3.86%	1.93%	10.10%	0.34%	3.04%	3.06%	4.89%	1.54%	3.35%
AMECX American Funds The Income Fund of America Class A	9.28%	9.94%	6.38%	2.93%	6.98%	6.67%	2.80%	5.01%	7.48%	4.26%	3.09%	5.09%

Frequently Asked Questions

Can I hold both AEPFX and AMECX in my portfolio?

AEPFX and AMECX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEPFX or AMECX?

AEPFX has higher volatility (5.66%) compared to AMECX (1.99%). In terms of maximum drawdown, AEPFX dropped -48.79% vs AMECX's -41.92%.

Which has better risk-adjusted returns?

AMECX currently has the higher Sharpe Ratio (2.06 vs 1.31), 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.