AMFIX vs. SPUBX

Last updated Aug 4, 2026

AMFIX (AAMA Income Fund) and SPUBX (Symmetry Panoramic US Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, AMFIX returned 0.74%/yr vs 0.23%/yr for SPUBX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. AMFIX charges 0.92%/yr vs 0.45%/yr for SPUBX.

Performance

AMFIX vs. SPUBX - Performance Comparison

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

Returns By Period

In the year-to-date period, AMFIX achieves a 0.42% return, which is significantly higher than SPUBX's -0.96% return.

AMFIX

• 1D: -0.04%
• 1M: -0.05%
• 6M: 0.33%
• YTD: 0.42%
• 1Y: 1.86%
• 3Y*: 3.40%
• 5Y*: 0.74%
• 10Y*: —
• ALL TIME*: 0.96%

SPUBX

• 1D: -0.64%
• 1M: -1.48%
• 6M: -1.07%
• YTD: -0.96%
• 1Y: 1.56%
• 3Y*: 3.73%
• 5Y*: 0.23%
• 10Y*: —
• ALL TIME*: 1.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMFIX AAMA Income Fund	$0.00	$0.00	$0.00
SPUBX Symmetry Panoramic US Fixed Income Fund	$0.00	$0.00	$0.00

AMFIX vs. SPUBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AMFIX AAMA Income Fund	0.42%	3.74%	3.48%	3.84%	-6.26%	-1.37%	2.24%	2.47%	0.96%
SPUBX Symmetry Panoramic US Fixed Income Fund	-0.96%	7.23%	1.15%	5.32%	-9.45%	-1.72%	5.63%	5.91%	1.56%

Correlation

The correlation between AMFIX and SPUBX is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (All Time) Calculated using the full available price history since Nov 12, 2018	0.80

The correlation between AMFIX and SPUBX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

AMFIX vs. SPUBX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMFIX

AMFIX Risk / Return Rank: 77
AMFIX Sharpe Ratio Rank: 78
AMFIX Sortino Ratio Rank: 81
AMFIX Omega Ratio Rank: 80
AMFIX Calmar Ratio Rank: 84
AMFIX Martin Ratio Rank: 61

SPUBX

SPUBX Risk / Return Rank: 15
SPUBX Sharpe Ratio Rank: 15
SPUBX Sortino Ratio Rank: 14
SPUBX Omega Ratio Rank: 14
SPUBX Calmar Ratio Rank: 16
SPUBX Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMFIX vs. SPUBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAMA Income Fund (AMFIX) and Symmetry Panoramic US Fixed Income Fund (SPUBX). 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.

	AMFIX	SPUBX	Difference
Sharpe ratio: Return per unit of total volatility	1.90	0.65	+1.24
Sortino ratio: Return per unit of downside risk	2.87	0.95	+1.91
Omega ratio: Gain probability vs. loss probability	1.38	1.12	+0.26
Calmar ratio: Return relative to maximum drawdown	2.99	0.87	+2.12
Martin ratio: Return relative to average drawdown	8.46	2.15	+6.31

AMFIX vs. SPUBX - Sharpe Ratio Comparison

The current AMFIX Sharpe Ratio is 1.90, which is higher than the SPUBX Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of AMFIX and SPUBX, 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

AMFIX vs. SPUBX - Drawdown Comparison

The maximum AMFIX drawdown since its inception was -9.35%, smaller than the maximum SPUBX drawdown of -13.72%. Use the drawdown chart below to compare losses from any high point for AMFIX and SPUBX.

Drawdown Indicators

	AMFIX	SPUBX	Difference
Max Drawdown Largest peak-to-trough decline	-9.35%	-13.72%	+4.37%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	-2.78%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.75%	-4.86%	+4.11%
Max Drawdown (5Y) Largest decline over 5 years	-8.84%	-13.17%	+4.33%
Current Drawdown Current decline from peak	-0.28%	-2.72%	+2.44%
Average Drawdown Average peak-to-trough decline	-1.99%	-3.84%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.13%	-0.87%

Volatility

AMFIX vs. SPUBX - Volatility Comparison

The current volatility for AAMA Income Fund (AMFIX) is 0.37%, while Symmetry Panoramic US Fixed Income Fund (SPUBX) has a volatility of 1.12%. This indicates that AMFIX experiences smaller price fluctuations and is considered to be less risky than SPUBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMFIX	SPUBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.37%	1.12%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	0.99%	2.93%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	1.17%	3.73%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.18%	4.78%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.74%	4.14%	-2.40%

AMFIX vs. SPUBX - Expense Ratio Comparison

AMFIX has a 0.92% expense ratio, which is higher than SPUBX's 0.45% expense ratio.

Dividends

AMFIX vs. SPUBX - Dividend Comparison

AMFIX's dividend yield for the trailing twelve months is around 2.23%, less than SPUBX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMFIX AAMA Income Fund	2.23%	2.08%	2.44%	1.70%	0.83%	0.57%	0.83%	1.24%	1.24%	0.40%
SPUBX Symmetry Panoramic US Fixed Income Fund	4.00%	4.31%	4.57%	2.52%	1.61%	1.16%	1.82%	2.14%	0.16%	0.00%

Frequently Asked Questions

Can I hold both AMFIX and SPUBX in my portfolio?

AMFIX and SPUBX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMFIX or SPUBX?

SPUBX has higher volatility (1.12%) compared to AMFIX (0.37%). In terms of maximum drawdown, AMFIX dropped -9.35% vs SPUBX's -13.72%.

Which has better risk-adjusted returns?

AMFIX currently has the higher Sharpe Ratio (1.90 vs 0.65), 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.