AFMFX vs. SPYI

Last updated Apr 1, 2026

Compare and contrast key facts about American Funds American Mutual Fund Class F-3 (AFMFX) and NEOS S&P 500 High Income ETF (SPYI).

AFMFX is managed by American Funds. It was launched on Feb 21, 1950. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Performance

AFMFX vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds American Mutual Fund Class F-3 (AFMFX) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

AFMFX vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AFMFX American Funds American Mutual Fund Class F-3	-3.07%	16.43%	15.30%	9.77%	2.52%
SPYI NEOS S&P 500 High Income ETF	-3.13%	16.67%	19.03%	18.09%	-2.44%

Returns By Period

The year-to-date returns for both stocks are quite close, with AFMFX having a -3.07% return and SPYI slightly lower at -3.13%.

AFMFX

• 1D: -0.10%
• 1M: -7.90%
• YTD: -3.07%
• 6M: -1.41%
• 1Y: 10.11%
• 3Y*: 12.32%
• 5Y*: 9.41%
• 10Y*: —

SPYI

• 1D: 2.91%
• 1M: -4.27%
• YTD: -3.13%
• 6M: 0.26%
• 1Y: 16.35%
• 3Y*: 14.25%
• 5Y*: —
• 10Y*: —

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

AFMFX vs. SPYI - Expense Ratio Comparison

AFMFX has a 0.27% expense ratio, which is lower than SPYI's 0.68% expense ratio.

SPYI

NEOS S&P 500 High Income ETF

AFMFX

American Funds American Mutual Fund Class F-3

Return for Risk

AFMFX vs. SPYI — Risk / Return Rank

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

AFMFX

AFMFX Risk / Return Rank: 39
AFMFX Sharpe Ratio Rank: 38
AFMFX Sortino Ratio Rank: 38
AFMFX Omega Ratio Rank: 40
AFMFX Calmar Ratio Rank: 36
AFMFX Martin Ratio Rank: 40

SPYI

SPYI Risk / Return Rank: 69
SPYI Sharpe Ratio Rank: 61
SPYI Sortino Ratio Rank: 64
SPYI Omega Ratio Rank: 73
SPYI Calmar Ratio Rank: 66
SPYI Martin Ratio Rank: 81

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.

AFMFX vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds American Mutual Fund Class F-3 (AFMFX) and NEOS S&P 500 High Income ETF (SPYI). 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.

	AFMFX	SPYI	Difference
Sharpe ratio Return per unit of total volatility	0.80	1.01	-0.21
Sortino ratio Return per unit of downside risk	1.20	1.53	-0.33
Omega ratio Gain probability vs. loss probability	1.18	1.26	-0.08
Calmar ratio Return relative to maximum drawdown	0.96	1.55	-0.59
Martin ratio Return relative to average drawdown	4.19	8.15	-3.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFMFX vs. SPYI - Sharpe Ratio Comparison

The current AFMFX Sharpe Ratio is 0.80, which is comparable to the SPYI Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of AFMFX and SPYI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AFMFX	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.01	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	1.00	-0.31

Correlation

The correlation between AFMFX and SPYI is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AFMFX vs. SPYI - Dividend Comparison

AFMFX's dividend yield for the trailing twelve months is around 8.15%, less than SPYI's 12.50% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFMFX American Funds American Mutual Fund Class F-3	8.15%	7.86%	6.60%	4.06%	5.20%	3.58%	2.22%	4.89%	6.75%	6.25%
SPYI NEOS S&P 500 High Income ETF	12.50%	11.70%	12.04%	12.01%	4.10%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

AFMFX vs. SPYI - Drawdown Comparison

The maximum AFMFX drawdown since its inception was -29.79%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for AFMFX and SPYI.

Drawdown Indicators

	AFMFX	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-29.79%	-16.47%	-13.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.21%	-11.02%	+0.81%
Max Drawdown (5Y) Largest decline over 5 years	-15.16%	—	—
Current Drawdown Current decline from peak	-7.90%	-5.03%	-2.87%
Average Drawdown Average peak-to-trough decline	-2.94%	-1.86%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.09%	+0.25%

Volatility

AFMFX vs. SPYI - Volatility Comparison

The current volatility for American Funds American Mutual Fund Class F-3 (AFMFX) is 3.36%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 5.08%. This indicates that AFMFX experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFMFX	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	5.08%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	7.33%	8.27%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.81%	16.22%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.47%	13.12%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.56%	13.12%	+1.44%