AFCNX vs. TWEIX

Last updated Jun 4, 2026

AFCNX (American Century Focused International Growth Fund) and TWEIX (American Century Equity Income Fund) are both mutual funds - AFCNX is a Foreign Large Cap Equities fund managed by American Century, while TWEIX is a Large Cap Value Equities fund managed by American Century. Over the past 5 years, AFCNX returned 0.21%/yr vs 6.89%/yr for TWEIX. A 0.62 correlation means they provide meaningful diversification when combined. AFCNX charges 1.10%/yr vs 0.94%/yr for TWEIX.

Performance

AFCNX vs. TWEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Focused International Growth Fund (AFCNX) 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, AFCNX achieves a 4.21% return, which is significantly lower than TWEIX's 6.14% return.

AFCNX

• 1D: 0.51%
• 1M: 5.44%
• YTD: 4.21%
• 6M: 4.84%
• 1Y: 7.70%
• 3Y*: 7.46%
• 5Y*: 0.21%
• 10Y*: —

TWEIX

• 1D: 0.56%
• 1M: 0.11%
• YTD: 6.14%
• 6M: 6.61%
• 1Y: 15.26%
• 3Y*: 10.63%
• 5Y*: 6.89%
• 10Y*: 8.65%

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

AFCNX vs. TWEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFCNX American Century Focused International Growth Fund	4.21%	15.97%	3.87%	8.26%	-26.55%	7.90%	31.84%	32.47%	-13.20%	32.86%
TWEIX American Century Equity Income Fund	6.14%	11.84%	10.51%	3.92%	-3.06%	16.83%	1.10%	24.14%	-3.77%	12.71%

Correlation

The correlation between AFCNX and TWEIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.62

The correlation between AFCNX and TWEIX shifts across timeframes, from 0.48 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AFCNX vs. TWEIX — Risk / Return Rank

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

AFCNX

AFCNX Risk / Return Rank: 6
AFCNX Sharpe Ratio Rank: 5
AFCNX Sortino Ratio Rank: 5
AFCNX Omega Ratio Rank: 5
AFCNX Calmar Ratio Rank: 5
AFCNX Martin Ratio Rank: 6

TWEIX

TWEIX Risk / Return Rank: 41
TWEIX Sharpe Ratio Rank: 42
TWEIX Sortino Ratio Rank: 46
TWEIX Omega Ratio Rank: 38
TWEIX Calmar Ratio Rank: 42
TWEIX Martin Ratio Rank: 37

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.

AFCNX vs. TWEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Focused International Growth Fund (AFCNX) 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.

	AFCNX	TWEIX	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.88	-1.47
Sortino ratio: Return per unit of downside risk	0.68	2.84	-2.16
Omega ratio: Gain probability vs. loss probability	1.08	1.33	-0.24
Calmar ratio: Return relative to maximum drawdown	0.48	2.45	-1.97
Martin ratio: Return relative to average drawdown	1.64	8.07	-6.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFCNX vs. TWEIX - Sharpe Ratio Comparison

The current AFCNX Sharpe Ratio is 0.41, which is lower than the TWEIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of AFCNX 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

	AFCNX	TWEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	1.88	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.65	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.75	-0.29

Drawdowns

AFCNX vs. TWEIX - Drawdown Comparison

The maximum AFCNX drawdown since its inception was -39.99%, roughly equal to the maximum TWEIX drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for AFCNX and TWEIX.

Drawdown Indicators

	AFCNX	TWEIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.99%	-39.30%	-0.69%
Max Drawdown (1Y) Largest decline over 1 year	-14.42%	-6.43%	-7.99%
Max Drawdown (3Y) Largest decline over 3 years	-18.55%	-10.16%	-8.39%
Max Drawdown (5Y) Largest decline over 5 years	-39.99%	-13.69%	-26.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.82%	—
Current Drawdown Current decline from peak	-4.69%	-2.51%	-2.18%
Average Drawdown Average peak-to-trough decline	-12.06%	-4.16%	-7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	1.95%	+2.23%

Volatility

AFCNX vs. TWEIX - Volatility Comparison

American Century Focused International Growth Fund (AFCNX) has a higher volatility of 6.02% compared to American Century Equity Income Fund (TWEIX) at 2.20%. This indicates that AFCNX'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

	AFCNX	TWEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	2.20%	+3.82%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	6.23%	+8.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.83%	8.37%	+8.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	10.74%	+7.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	13.36%	+5.17%

AFCNX vs. TWEIX - Expense Ratio Comparison

AFCNX has a 1.10% expense ratio, which is higher than TWEIX's 0.94% expense ratio.

Dividends

AFCNX vs. TWEIX - Dividend Comparison

AFCNX's dividend yield for the trailing twelve months is around 0.02%, less than TWEIX's 9.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFCNX American Century Focused International Growth Fund	0.02%	0.02%	0.00%	0.35%	0.39%	2.49%	0.72%	2.24%	0.55%	0.00%	0.00%	0.00%
TWEIX American Century Equity Income Fund	9.77%	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 AFCNX and TWEIX in my portfolio?

AFCNX and TWEIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFCNX or TWEIX?

AFCNX has higher volatility (6.02%) compared to TWEIX (2.20%). In terms of maximum drawdown, AFCNX dropped -39.99% vs TWEIX's -39.30%.

Which has better risk-adjusted returns?

TWEIX currently has the higher Sharpe Ratio (1.88 vs 0.41), 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.