AHIFX vs. CARY

Last updated Jun 4, 2026

AHIFX (American Funds American High-Inc F2) and CARY (Angel Oak Income ETF) are both funds - AHIFX is a High Yield Bonds fund managed by American Funds, while CARY is a Multisector Bonds fund actively managed by Angel Oak. Over the past 3 years, AHIFX returned 9.62%/yr vs 7.35%/yr for CARY. At a 0.32 correlation, their price movements are largely independent. AHIFX charges 0.43%/yr vs 0.80%/yr for CARY.

Performance

AHIFX vs. CARY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds American High-Inc F2 (AHIFX) and Angel Oak Income ETF (CARY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHIFX achieves a 2.30% return, which is significantly higher than CARY's 1.74% return.

AHIFX

• 1D: 0.00%
• 1M: 0.63%
• YTD: 2.30%
• 6M: 2.77%
• 1Y: 8.75%
• 3Y*: 9.62%
• 5Y*: 4.66%
• 10Y*: 6.15%

CARY

• 1D: -0.05%
• 1M: 0.23%
• YTD: 1.74%
• 6M: 2.13%
• 1Y: 6.94%
• 3Y*: 7.35%
• 5Y*: —
• 10Y*: —

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

AHIFX vs. CARY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AHIFX American Funds American High-Inc F2	2.30%	8.57%	9.80%	11.17%	2.30%
CARY Angel Oak Income ETF	1.74%	7.54%	6.93%	8.70%	0.70%

Correlation

The correlation between AHIFX and CARY is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Nov 9, 2022	0.32

The correlation between AHIFX and CARY shifts across timeframes, from 0.32 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AHIFX vs. CARY — Risk / Return Rank

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

AHIFX

AHIFX Risk / Return Rank: 85
AHIFX Sharpe Ratio Rank: 79
AHIFX Sortino Ratio Rank: 92
AHIFX Omega Ratio Rank: 86
AHIFX Calmar Ratio Rank: 81
AHIFX Martin Ratio Rank: 86

CARY

CARY Risk / Return Rank: 94
CARY Sharpe Ratio Rank: 95
CARY Sortino Ratio Rank: 97
CARY Omega Ratio Rank: 97
CARY Calmar Ratio Rank: 89
CARY Martin Ratio Rank: 92

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.

AHIFX vs. CARY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds American High-Inc F2 (AHIFX) and Angel Oak Income ETF (CARY). 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.

	AHIFX	CARY	Difference
Sharpe ratio: Return per unit of total volatility	2.59	3.96	-1.37
Sortino ratio: Return per unit of downside risk	4.56	6.28	-1.72
Omega ratio: Gain probability vs. loss probability	1.59	1.89	-0.30
Calmar ratio: Return relative to maximum drawdown	3.69	5.45	-1.76
Martin ratio: Return relative to average drawdown	16.68	23.64	-6.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AHIFX vs. CARY - Sharpe Ratio Comparison

The current AHIFX Sharpe Ratio is 2.59, which is lower than the CARY Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of AHIFX and CARY, 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

	AHIFX	CARY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	3.96	-1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	2.65	-1.09

Drawdowns

AHIFX vs. CARY - Drawdown Comparison

The maximum AHIFX drawdown since its inception was -21.21%, which is greater than CARY's maximum drawdown of -1.96%. Use the drawdown chart below to compare losses from any high point for AHIFX and CARY.

Drawdown Indicators

	AHIFX	CARY	Difference
Max Drawdown Largest peak-to-trough decline	-21.21%	-1.96%	-19.25%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-1.28%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-3.93%	-1.96%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-13.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.21%	—	—
Current Drawdown Current decline from peak	0.00%	-0.14%	+0.14%
Average Drawdown Average peak-to-trough decline	-2.20%	-0.33%	-1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.29%	+0.24%

Volatility

AHIFX vs. CARY - Volatility Comparison

American Funds American High-Inc F2 (AHIFX) has a higher volatility of 1.17% compared to Angel Oak Income ETF (CARY) at 0.56%. This indicates that AHIFX's price experiences larger fluctuations and is considered to be riskier than CARY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHIFX	CARY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	0.56%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	2.65%	1.30%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	1.76%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.00%	2.74%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.50%	2.74%	+2.76%

AHIFX vs. CARY - Expense Ratio Comparison

AHIFX has a 0.43% expense ratio, which is lower than CARY's 0.80% expense ratio.

Dividends

AHIFX vs. CARY - Dividend Comparison

AHIFX's dividend yield for the trailing twelve months is around 6.54%, more than CARY's 5.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHIFX American Funds American High-Inc F2	6.54%	6.53%	6.56%	5.64%	4.42%	4.54%	6.08%	6.45%	6.56%	6.24%	5.26%	7.17%
CARY Angel Oak Income ETF	5.93%	6.13%	6.10%	6.38%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AHIFX and CARY in my portfolio?

AHIFX and CARY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHIFX or CARY?

AHIFX has higher volatility (1.17%) compared to CARY (0.56%). In terms of maximum drawdown, AHIFX dropped -21.21% vs CARY's -1.96%.

Which has better risk-adjusted returns?

CARY currently has the higher Sharpe Ratio (3.96 vs 2.59), 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.