AMFEX vs. AMFIX

Last updated Jun 3, 2026

AMFEX (AAMA Equity Fund) and AMFIX (AAMA Income Fund) are both mutual funds - AMFEX is a Large Cap Blend Equities fund managed by AAMA, while AMFIX is a Intermediate Core-Plus Bond fund managed by AAMA. Over the past 5 years, AMFEX returned 11.25%/yr vs 0.74%/yr for AMFIX. At a correlation of -0.02, they often move in opposite directions. AMFEX charges 1.17%/yr vs 0.92%/yr for AMFIX.

Performance

AMFEX vs. AMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAMA Equity Fund (AMFEX) and AAMA Income Fund (AMFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMFEX achieves a 12.35% return, which is significantly higher than AMFIX's 0.30% return.

AMFEX

• 1D: -0.47%
• 1M: 3.28%
• YTD: 12.35%
• 6M: 13.02%
• 1Y: 28.10%
• 3Y*: 18.87%
• 5Y*: 11.25%
• 10Y*: —

AMFIX

• 1D: -0.08%
• 1M: -0.04%
• YTD: 0.30%
• 6M: 0.52%
• 1Y: 2.53%
• 3Y*: 3.31%
• 5Y*: 0.74%
• 10Y*: —

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

AMFEX vs. AMFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AMFEX AAMA Equity Fund	12.35%	17.33%	16.28%	17.32%	-14.08%	22.58%	12.70%	24.62%	-9.60%
AMFIX AAMA Income Fund	0.30%	3.74%	3.48%	3.84%	-6.26%	-1.37%	2.24%	2.47%	1.00%

Correlation

The correlation between AMFEX and AMFIX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Nov 8, 2018	-0.02

The correlation between AMFEX and AMFIX shifts across timeframes, from -0.02 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AMFEX vs. AMFIX — Risk / Return Rank

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

AMFEX

AMFEX Risk / Return Rank: 89
AMFEX Sharpe Ratio Rank: 91
AMFEX Sortino Ratio Rank: 87
AMFEX Omega Ratio Rank: 82
AMFEX Calmar Ratio Rank: 91
AMFEX Martin Ratio Rank: 93

AMFIX

AMFIX Risk / Return Rank: 71
AMFIX Sharpe Ratio Rank: 66
AMFIX Sortino Ratio Rank: 79
AMFIX Omega Ratio Rank: 76
AMFIX Calmar Ratio Rank: 76
AMFIX 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.

AMFEX vs. AMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAMA Equity Fund (AMFEX) and AAMA Income Fund (AMFIX). 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.

	AMFEX	AMFIX	Difference
Sharpe ratio Return per unit of total volatility	3.03	2.39	+0.64
Sortino ratio Return per unit of downside risk	4.12	3.74	+0.39
Omega ratio Gain probability vs. loss probability	1.54	1.50	+0.04
Calmar ratio Return relative to maximum drawdown	4.74	3.42	+1.32
Martin ratio Return relative to average drawdown	20.41	11.59	+8.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMFEX vs. AMFIX - Sharpe Ratio Comparison

The current AMFEX Sharpe Ratio is 3.03, which is comparable to the AMFIX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of AMFEX and AMFIX, 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

	AMFEX	AMFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.03	2.39	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.34	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.56	+0.17

Drawdowns

AMFEX vs. AMFIX - Drawdown Comparison

The maximum AMFEX drawdown since its inception was -30.41%, which is greater than AMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for AMFEX and AMFIX.

Drawdown Indicators

	AMFEX	AMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.41%	-9.35%	-21.06%
Max Drawdown (1Y) Largest decline over 1 year	-6.07%	-0.74%	-5.33%
Max Drawdown (3Y) Largest decline over 3 years	-15.23%	-0.88%	-14.35%
Max Drawdown (5Y) Largest decline over 5 years	-21.21%	-8.91%	-12.30%
Current Drawdown Current decline from peak	-0.66%	-0.39%	-0.27%
Average Drawdown Average peak-to-trough decline	-4.31%	-2.03%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	0.22%	+1.19%

Volatility

AMFEX vs. AMFIX - Volatility Comparison

AAMA Equity Fund (AMFEX) has a higher volatility of 2.39% compared to AAMA Income Fund (AMFIX) at 0.41%. This indicates that AMFEX's price experiences larger fluctuations and is considered to be riskier than AMFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMFEX	AMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	0.41%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	0.83%	+6.32%
Volatility (1Y) Calculated over the trailing 1-year period	9.51%	1.05%	+8.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	2.17%	+12.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	1.74%	+15.21%

AMFEX vs. AMFIX - Expense Ratio Comparison

AMFEX has a 1.17% expense ratio, which is higher than AMFIX's 0.92% expense ratio.

Dividends

AMFEX vs. AMFIX - Dividend Comparison

AMFEX's dividend yield for the trailing twelve months is around 10.67%, more than AMFIX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMFEX AAMA Equity Fund	10.67%	11.99%	9.19%	0.92%	4.82%	0.22%	0.44%	0.78%	0.83%	0.00%
AMFIX AAMA Income Fund	2.21%	2.08%	2.44%	1.70%	0.83%	0.57%	0.83%	1.24%	1.24%	0.40%

Frequently Asked Questions

Can I hold both AMFEX and AMFIX in my portfolio?

AMFEX and AMFIX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMFEX or AMFIX?

AMFEX has higher volatility (2.39%) compared to AMFIX (0.41%). In terms of maximum drawdown, AMFEX dropped -30.41% vs AMFIX's -9.35%.

Which has better risk-adjusted returns?

AMFEX currently has the higher Sharpe Ratio (3.03 vs 2.39), 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.