AMEFX vs. CAIBX

Last updated Jun 4, 2026

AMEFX (American Funds The Income Fund of America® Class F-2) and CAIBX (American Funds Capital Income Builder Class A) are both Diversified Portfolio funds from American Funds. Over the past 10 years, AMEFX returned 8.71%/yr vs 7.94%/yr for CAIBX. With a 0.96 correlation, they move nearly in lockstep. AMEFX charges 0.37%/yr vs 0.59%/yr for CAIBX.

Performance

AMEFX vs. CAIBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds The Income Fund of America® Class F-2 (AMEFX) and American Funds Capital Income Builder Class A (CAIBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMEFX achieves a 6.40% return, which is significantly lower than CAIBX's 7.79% return. Over the past 10 years, AMEFX has outperformed CAIBX with an annualized return of 8.71%, while CAIBX has yielded a comparatively lower 7.94% annualized return.

AMEFX

• 1D: 0.29%
• 1M: 0.95%
• YTD: 6.40%
• 6M: 7.44%
• 1Y: 15.98%
• 3Y*: 13.96%
• 5Y*: 7.97%
• 10Y*: 8.71%

CAIBX

• 1D: 0.57%
• 1M: 2.03%
• YTD: 7.79%
• 6M: 8.56%
• 1Y: 18.52%
• 3Y*: 15.22%
• 5Y*: 8.54%
• 10Y*: 7.94%

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

AMEFX vs. CAIBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMEFX American Funds The Income Fund of America® Class F-2	6.40%	18.03%	11.08%	6.92%	-6.22%	17.63%	4.67%	18.74%	-5.11%	12.73%
CAIBX American Funds Capital Income Builder Class A	7.79%	20.39%	10.24%	8.95%	-7.14%	14.99%	3.20%	17.23%	-7.28%	13.99%

Correlation

The correlation between AMEFX and CAIBX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 4, 2008	0.96

The correlation between AMEFX and CAIBX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

AMEFX vs. CAIBX — Risk / Return Rank

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

AMEFX

AMEFX Risk / Return Rank: 54
AMEFX Sharpe Ratio Rank: 59
AMEFX Sortino Ratio Rank: 59
AMEFX Omega Ratio Rank: 56
AMEFX Calmar Ratio Rank: 49
AMEFX Martin Ratio Rank: 49

CAIBX

CAIBX Risk / Return Rank: 60
CAIBX Sharpe Ratio Rank: 64
CAIBX Sortino Ratio Rank: 62
CAIBX Omega Ratio Rank: 62
CAIBX Calmar Ratio Rank: 57
CAIBX Martin Ratio Rank: 57

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.

AMEFX vs. CAIBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds The Income Fund of America® Class F-2 (AMEFX) and American Funds Capital Income Builder Class A (CAIBX). 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.

	AMEFX	CAIBX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.34	-0.07
Sortino ratio: Return per unit of downside risk	3.22	3.31	-0.09
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	2.67	2.89	-0.22
Martin ratio: Return relative to average drawdown	10.06	11.49	-1.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMEFX vs. CAIBX - Sharpe Ratio Comparison

The current AMEFX Sharpe Ratio is 2.27, which is comparable to the CAIBX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of AMEFX and CAIBX, 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

	AMEFX	CAIBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	2.34	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.86	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.73	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.92	-0.24

Drawdowns

AMEFX vs. CAIBX - Drawdown Comparison

The maximum AMEFX drawdown since its inception was -37.22%, smaller than the maximum CAIBX drawdown of -43.68%. Use the drawdown chart below to compare losses from any high point for AMEFX and CAIBX.

Drawdown Indicators

	AMEFX	CAIBX	Difference
Max Drawdown Largest peak-to-trough decline	-37.22%	-43.68%	+6.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-6.47%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	-8.89%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	-17.65%	+1.98%
Max Drawdown (10Y) Largest decline over 10 years	-26.10%	-25.28%	-0.82%
Current Drawdown Current decline from peak	-1.18%	0.00%	-1.18%
Average Drawdown Average peak-to-trough decline	-3.83%	-3.81%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.63%	-0.02%

Volatility

AMEFX vs. CAIBX - Volatility Comparison

The current volatility for American Funds The Income Fund of America® Class F-2 (AMEFX) is 2.04%, while American Funds Capital Income Builder Class A (CAIBX) has a volatility of 2.47%. This indicates that AMEFX experiences smaller price fluctuations and is considered to be less risky than CAIBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMEFX	CAIBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	2.47%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	5.62%	6.42%	-0.80%
Volatility (1Y) Calculated over the trailing 1-year period	7.16%	8.00%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.47%	9.98%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.69%	10.88%	-0.19%

AMEFX vs. CAIBX - Expense Ratio Comparison

AMEFX has a 0.37% expense ratio, which is lower than CAIBX's 0.59% expense ratio.

Dividends

AMEFX vs. CAIBX - Dividend Comparison

AMEFX's dividend yield for the trailing twelve months is around 9.61%, more than CAIBX's 7.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMEFX American Funds The Income Fund of America® Class F-2	9.61%	10.16%	6.60%	3.09%	7.21%	6.87%	3.00%	5.19%	7.67%	4.38%	3.27%	5.27%
CAIBX American Funds Capital Income Builder Class A	7.22%	7.71%	5.76%	3.47%	3.43%	3.14%	3.38%	4.10%	3.55%	4.44%	3.52%	3.62%

Frequently Asked Questions

Can I hold both AMEFX and CAIBX in my portfolio?

With a correlation of 0.94, AMEFX and CAIBX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AMEFX or CAIBX?

CAIBX has higher volatility (2.47%) compared to AMEFX (2.04%). In terms of maximum drawdown, AMEFX dropped -37.22% vs CAIBX's -43.68%.

Which has better risk-adjusted returns?

CAIBX currently has the higher Sharpe Ratio (2.34 vs 2.27), 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.