AHTPX vs. MAFIX

Last updated Jun 23, 2026

AHTPX (American Beacon AHL TargetRisk Fund) and MAFIX (Abbey Capital Multi Asset Fund Class I) are both mutual funds - AHTPX is a Tactical Allocation fund managed by American Beacon, while MAFIX is a Multistrategy fund managed by Abbey Capital. Over the past 5 years, AHTPX returned 5.30%/yr vs 8.40%/yr for MAFIX. At a 0.49 correlation, their price movements are largely independent. AHTPX charges 1.41%/yr vs 1.79%/yr for MAFIX.

Performance

AHTPX vs. MAFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon AHL TargetRisk Fund (AHTPX) and Abbey Capital Multi Asset Fund Class I (MAFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHTPX achieves a 8.90% return, which is significantly lower than MAFIX's 10.70% return.

AHTPX

• 1D: 0.35%
• 1M: 1.31%
• YTD: 8.90%
• 6M: 9.63%
• 1Y: 21.54%
• 3Y*: 9.68%
• 5Y*: 5.30%
• 10Y*: —

MAFIX

• 1D: 1.05%
• 1M: -1.49%
• YTD: 10.70%
• 6M: 10.21%
• 1Y: 31.25%
• 3Y*: 8.89%
• 5Y*: 8.40%
• 10Y*: —

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

AHTPX vs. MAFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AHTPX American Beacon AHL TargetRisk Fund	8.90%	7.76%	6.73%	13.48%	-16.81%	13.63%	5.18%	26.87%	0.00%
MAFIX Abbey Capital Multi Asset Fund Class I	10.70%	8.41%	8.99%	5.02%	4.08%	14.79%	24.89%	21.63%	0.23%

Correlation

The correlation between AHTPX and MAFIX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 31, 2018	0.49

Over the past year, AHTPX and MAFIX have become more correlated (0.74) than their long-term average of 0.49, meaning their price movements have been converging.

Return for Risk

AHTPX vs. MAFIX — Risk / Return Rank

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

AHTPX

AHTPX Risk / Return Rank: 63
AHTPX Sharpe Ratio Rank: 72
AHTPX Sortino Ratio Rank: 68
AHTPX Omega Ratio Rank: 71
AHTPX Calmar Ratio Rank: 64
AHTPX Martin Ratio Rank: 39

MAFIX

MAFIX Risk / Return Rank: 79
MAFIX Sharpe Ratio Rank: 80
MAFIX Sortino Ratio Rank: 72
MAFIX Omega Ratio Rank: 70
MAFIX Calmar Ratio Rank: 89
MAFIX Martin Ratio Rank: 83

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.

AHTPX vs. MAFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon AHL TargetRisk Fund (AHTPX) and Abbey Capital Multi Asset Fund Class I (MAFIX). 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.

	AHTPX	MAFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.42	-0.16
Sortino ratio: Return per unit of downside risk	3.13	3.23	-0.10
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	2.93	4.24	-1.31
Martin ratio: Return relative to average drawdown	7.97	14.38	-6.41

AHTPX vs. MAFIX - Sharpe Ratio Comparison

The current AHTPX Sharpe Ratio is 2.26, which is comparable to the MAFIX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of AHTPX and MAFIX, 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

AHTPX vs. MAFIX - Drawdown Comparison

The maximum AHTPX drawdown since its inception was -19.23%, roughly equal to the maximum MAFIX drawdown of -19.21%. Use the drawdown chart below to compare losses from any high point for AHTPX and MAFIX.

Drawdown Indicators

	AHTPX	MAFIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.23%	-19.21%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.26%	-7.26%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-12.89%	-19.21%	+6.32%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-19.21%	-0.02%
Current Drawdown Current decline from peak	-1.86%	-2.49%	+0.63%
Average Drawdown Average peak-to-trough decline	-5.64%	-3.41%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.14%	+0.52%

Volatility

AHTPX vs. MAFIX - Volatility Comparison

The current volatility for American Beacon AHL TargetRisk Fund (AHTPX) is 2.23%, while Abbey Capital Multi Asset Fund Class I (MAFIX) has a volatility of 3.81%. This indicates that AHTPX experiences smaller price fluctuations and is considered to be less risky than MAFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHTPX	MAFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	3.81%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	6.83%	9.35%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	9.40%	12.72%	-3.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.65%	12.35%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.94%	12.86%	-3.92%

AHTPX vs. MAFIX - Expense Ratio Comparison

AHTPX has a 1.41% expense ratio, which is lower than MAFIX's 1.79% expense ratio.

Dividends

AHTPX vs. MAFIX - Dividend Comparison

AHTPX's dividend yield for the trailing twelve months is around 7.33%, less than MAFIX's 10.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AHTPX American Beacon AHL TargetRisk Fund	7.33%	7.98%	4.80%	3.63%	5.07%	18.73%	0.54%	4.51%	0.00%
MAFIX Abbey Capital Multi Asset Fund Class I	10.64%	11.78%	4.57%	3.80%	4.12%	10.65%	10.29%	12.30%	9.36%

Frequently Asked Questions

Can I hold both AHTPX and MAFIX in my portfolio?

AHTPX and MAFIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHTPX or MAFIX?

MAFIX has higher volatility (3.81%) compared to AHTPX (2.23%). In terms of maximum drawdown, AHTPX dropped -19.23% vs MAFIX's -19.21%.

Which has better risk-adjusted returns?

MAFIX currently has the higher Sharpe Ratio (2.42 vs 2.26), 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.