AMECX vs. ASTEX
AMECX (American Funds The Income Fund of America Class A) and ASTEX (American Funds Short-Term Tax Exempt Bond Fund) are both mutual funds - AMECX is a Diversified Portfolio fund actively managed by American Funds, while ASTEX is a Municipal Bonds fund managed by American Funds. Over the past 10 years, AMECX returned 8.39%/yr vs 1.49%/yr for ASTEX. Their 0.02 correlation means their historical movements had little consistent relationship. AMECX charges 0.56%/yr vs 0.53%/yr for ASTEX.
Performance
AMECX vs. ASTEX - Performance Comparison
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Returns By Period
In the year-to-date period, AMECX achieves a 8.35% return, which is significantly higher than ASTEX's 0.62% return. Over the past 10 years, AMECX has outperformed ASTEX with an annualized return of 8.39%, while ASTEX has yielded a comparatively lower 1.49% annualized return.
AMECX
- 1D
- -0.11%
- 1M
- 1.12%
- 6M
- 4.36%
- YTD
- 8.35%
- 1Y
- 16.19%
- 3Y*
- 13.30%
- 5Y*
- 8.28%
- 10Y*
- 8.39%
- ALL TIME*
- 7.75%
ASTEX
- 1D
- 0.00%
- 1M
- -0.60%
- 6M
- -0.09%
- YTD
- 0.62%
- 1Y
- 2.23%
- 3Y*
- 3.54%
- 5Y*
- 1.47%
- 10Y*
- 1.49%
- ALL TIME*
- 1.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AMECX vs. ASTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AMECX American Funds The Income Fund of America Class A | 8.35% | 17.77% | 10.84% | 6.79% | -6.40% | 17.37% | 4.49% | 18.50% | -5.27% | 12.58% |
ASTEX American Funds Short-Term Tax Exempt Bond Fund | 0.62% | 5.34% | 2.46% | 2.91% | -3.25% | -0.29% | 2.91% | 3.26% | 0.94% | 1.63% |
Correlation
The correlation between AMECX and ASTEX is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2009 | 0.02 |
The correlation between AMECX and ASTEX shifts across timeframes, from 0.02 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AMECX vs. ASTEX — Risk / Return Rank
AMECX
ASTEX
AMECX vs. ASTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds The Income Fund of America Class A (AMECX) and American Funds Short-Term Tax Exempt Bond Fund (ASTEX). 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.
| AMECX | ASTEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.47 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.84 | +0.75 |
| Martin ratioReturn relative to average drawdown | 9.50 | 5.56 | +3.94 |
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Drawdowns
AMECX vs. ASTEX - Drawdown Comparison
The maximum AMECX drawdown since its inception was -41.92%, which is greater than ASTEX's maximum drawdown of -5.73%. Use the drawdown chart below to compare losses from any high point for AMECX and ASTEX.
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Drawdown Indicators
| AMECX | ASTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.92% | -5.73% | -36.19% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -1.28% | -4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -8.58% | -1.90% | -6.68% |
Max Drawdown (5Y)Largest decline over 5 years | -15.78% | -5.62% | -10.16% |
Max Drawdown (10Y)Largest decline over 10 years | -26.13% | -5.73% | -20.40% |
Current DrawdownCurrent decline from peak | -0.29% | -0.69% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -0.70% | -3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.42% | +1.25% |
Volatility
AMECX vs. ASTEX - Volatility Comparison
American Funds The Income Fund of America Class A (AMECX) has a higher volatility of 2.00% compared to American Funds Short-Term Tax Exempt Bond Fund (ASTEX) at 0.39%. This indicates that AMECX's price experiences larger fluctuations and is considered to be riskier than ASTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMECX | ASTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 0.39% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 1.11% | +4.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.40% | 1.43% | +5.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.43% | 1.78% | +7.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.63% | 1.65% | +8.98% |
AMECX vs. ASTEX - Expense Ratio Comparison
AMECX has a 0.56% expense ratio, which is higher than ASTEX's 0.53% expense ratio.
Dividends
AMECX vs. ASTEX - Dividend Comparison
AMECX's dividend yield for the trailing twelve months is around 9.29%, more than ASTEX's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMECX American Funds The Income Fund of America Class A | 9.29% | 9.94% | 6.38% | 2.93% | 6.98% | 6.67% | 2.80% | 5.01% | 7.48% | 4.26% | 3.09% | 5.09% |
ASTEX American Funds Short-Term Tax Exempt Bond Fund | 2.52% | 3.66% | 2.53% | 1.73% | 0.78% | 0.68% | 1.31% | 1.62% | 1.44% | 1.32% | 0.97% | 1.03% |
Frequently Asked Questions
AMECX and ASTEX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMECX has higher volatility (2.00%) compared to ASTEX (0.39%). In terms of maximum drawdown, AMECX dropped -41.92% vs ASTEX's -5.73%.
AMECX currently has the higher Sharpe Ratio (2.15 vs 1.68), 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.
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