AFDIX vs. TWHIX

Last updated Aug 4, 2026

AFDIX (American Century Large Cap Equity Fund Investor Class) and TWHIX (American Century Heritage Fund) are both mutual funds - AFDIX is a Large Cap Blend Equities fund actively managed by American Century, while TWHIX is a Mid Cap Growth Equities fund managed by American Century. Over the past 10 years, AFDIX returned 13.90%/yr vs 11.38%/yr for TWHIX. Their correlation of 0.88 means they have usually moved in the same direction. AFDIX charges 0.79%/yr vs 1.00%/yr for TWHIX.

Performance

AFDIX vs. TWHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Large Cap Equity Fund Investor Class (AFDIX) and American Century Heritage Fund (TWHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFDIX achieves a 7.79% return, which is significantly higher than TWHIX's 2.89% return. Over the past 10 years, AFDIX has outperformed TWHIX with an annualized return of 13.90%, while TWHIX has yielded a comparatively lower 11.38% annualized return.

AFDIX

• 1D: 0.96%
• 1M: 0.29%
• 6M: 6.12%
• YTD: 7.79%
• 1Y: 16.89%
• 3Y*: 14.41%
• 5Y*: 9.39%
• 10Y*: 13.90%
• ALL TIME*: 10.85%

TWHIX

• 1D: -0.23%
• 1M: -4.21%
• 6M: 2.25%
• YTD: 2.89%
• 1Y: 0.13%
• 3Y*: 11.82%
• 5Y*: 3.26%
• 10Y*: 11.38%
• ALL TIME*: 10.97%

*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)
AFDIX American Century Large Cap Equity Fund Investor Class	$0.00	$0.00	$0.00
TWHIX American Century Heritage Fund	$0.00	$0.00	$0.00

AFDIX vs. TWHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFDIX American Century Large Cap Equity Fund Investor Class	7.79%	11.17%	19.56%	24.21%	-19.52%	28.66%	19.27%	33.82%	-4.60%	25.78%
TWHIX American Century Heritage Fund	2.89%	6.53%	24.66%	20.64%	-28.13%	11.52%	42.61%	35.50%	-5.08%	21.83%

Correlation

The correlation between AFDIX and TWHIX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.88

The correlation between AFDIX and TWHIX has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

Return for Risk

AFDIX vs. TWHIX — Risk / Return Rank

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

AFDIX

AFDIX Risk / Return Rank: 33
AFDIX Sharpe Ratio Rank: 32
AFDIX Sortino Ratio Rank: 31
AFDIX Omega Ratio Rank: 31
AFDIX Calmar Ratio Rank: 31
AFDIX Martin Ratio Rank: 41

TWHIX

TWHIX Risk / Return Rank: 3
TWHIX Sharpe Ratio Rank: 3
TWHIX Sortino Ratio Rank: 4
TWHIX Omega Ratio Rank: 3
TWHIX Calmar Ratio Rank: 3
TWHIX Martin Ratio Rank: 3

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.

AFDIX vs. TWHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Large Cap Equity Fund Investor Class (AFDIX) and American Century Heritage Fund (TWHIX). 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.

	AFDIX	TWHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	-0.08	+1.22
Sortino ratio: Return per unit of downside risk	1.62	0.02	+1.60
Omega ratio: Gain probability vs. loss probability	1.21	1.00	+0.20
Calmar ratio: Return relative to maximum drawdown	1.48	-0.10	+1.57
Martin ratio: Return relative to average drawdown	6.35	-0.27	+6.62

AFDIX vs. TWHIX - Sharpe Ratio Comparison

The current AFDIX Sharpe Ratio is 1.14, which is higher than the TWHIX Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of AFDIX and TWHIX, 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

AFDIX vs. TWHIX - Drawdown Comparison

The maximum AFDIX drawdown since its inception was -52.82%, smaller than the maximum TWHIX drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for AFDIX and TWHIX.

Drawdown Indicators

	AFDIX	TWHIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.82%	-56.98%	+4.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-15.82%	+5.66%
Max Drawdown (3Y) Largest decline over 3 years	-20.56%	-26.30%	+5.74%
Max Drawdown (5Y) Largest decline over 5 years	-26.53%	-40.34%	+13.81%
Max Drawdown (10Y) Largest decline over 10 years	-34.35%	-40.34%	+5.99%
Current Drawdown Current decline from peak	-0.90%	-5.40%	+4.50%
Average Drawdown Average peak-to-trough decline	-7.59%	-12.21%	+4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	5.56%	-3.20%

Volatility

AFDIX vs. TWHIX - Volatility Comparison

The current volatility for American Century Large Cap Equity Fund Investor Class (AFDIX) is 3.75%, while American Century Heritage Fund (TWHIX) has a volatility of 4.81%. This indicates that AFDIX experiences smaller price fluctuations and is considered to be less risky than TWHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFDIX	TWHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	4.81%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	14.77%	-4.32%
Volatility (1Y) Calculated over the trailing 1-year period	13.20%	18.52%	-5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	23.40%	-5.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.62%	22.85%	-4.23%

AFDIX vs. TWHIX - Expense Ratio Comparison

AFDIX has a 0.79% expense ratio, which is lower than TWHIX's 1.00% expense ratio.

Dividends

AFDIX vs. TWHIX - Dividend Comparison

AFDIX's dividend yield for the trailing twelve months is around 21.52%, which matches TWHIX's 21.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFDIX American Century Large Cap Equity Fund Investor Class	21.52%	23.20%	6.67%	1.77%	0.63%	2.39%	0.41%	0.63%	8.69%	2.94%	1.18%	1.08%
TWHIX American Century Heritage Fund	21.52%	22.14%	15.58%	0.78%	0.98%	12.00%	13.72%	11.32%	25.33%	9.38%	8.71%	0.00%

Frequently Asked Questions

Can I hold both AFDIX and TWHIX in my portfolio?

AFDIX and TWHIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFDIX or TWHIX?

TWHIX has higher volatility (4.81%) compared to AFDIX (3.75%). In terms of maximum drawdown, AFDIX dropped -52.82% vs TWHIX's -56.98%.

Which has better risk-adjusted returns?

AFDIX currently has the higher Sharpe Ratio (1.14 vs -0.08), 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.