AMHIX vs. MGK
AMHIX (American High-Income Municipal Bond Fund) and MGK (Vanguard Mega Cap Growth ETF) are both funds - AMHIX is a High Yield Muni fund managed by American Funds, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Over the past 10 years, AMHIX returned 3.01%/yr vs 18.26%/yr for MGK. Their -0.06 correlation means they have often moved in opposite directions in the past. AMHIX charges 0.63%/yr vs 0.05%/yr for MGK.
Performance
AMHIX vs. MGK - Performance Comparison
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Returns By Period
In the year-to-date period, AMHIX achieves a 1.35% return, which is significantly lower than MGK's 4.77% return. Over the past 10 years, AMHIX has underperformed MGK with an annualized return of 3.01%, while MGK has yielded a comparatively higher 18.26% annualized return.
AMHIX
- 1D
- -0.26%
- 1M
- -1.87%
- 6M
- 0.70%
- YTD
- 1.35%
- 1Y
- 6.44%
- 3Y*
- 5.41%
- 5Y*
- 1.24%
- 10Y*
- 3.01%
- ALL TIME*
- 4.94%
MGK
- 1D
- 1.11%
- 1M
- -0.78%
- 6M
- 6.56%
- YTD
- 4.77%
- 1Y
- 16.51%
- 3Y*
- 21.79%
- 5Y*
- 13.06%
- 10Y*
- 18.26%
- ALL TIME*
- 13.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $119.42M | $123.75M | $142.35M |
AMHIX vs. MGK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AMHIX American High-Income Municipal Bond Fund | 1.35% | 5.70% | 6.19% | 7.18% | -12.59% | 5.28% | 4.39% | 8.88% | 1.59% | 8.89% |
MGK Vanguard Mega Cap Growth ETF | 4.77% | 20.67% | 32.94% | 51.67% | -33.59% | 28.58% | 41.01% | 37.38% | -2.91% | 29.49% |
Correlation
The correlation between AMHIX and MGK is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007 | -0.06 |
The correlation between AMHIX and MGK shifts across timeframes, from -0.06 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AMHIX vs. MGK — Risk / Return Rank
AMHIX
MGK
AMHIX vs. MGK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American High-Income Municipal Bond Fund (AMHIX) and Vanguard Mega Cap Growth ETF (MGK). 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.
| AMHIX | MGK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.14 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 0.83 | +1.92 |
| Martin ratioReturn relative to average drawdown | 9.51 | 2.57 | +6.94 |
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Drawdowns
AMHIX vs. MGK - Drawdown Comparison
The maximum AMHIX drawdown since its inception was -21.74%, smaller than the maximum MGK drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for AMHIX and MGK.
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Drawdown Indicators
| AMHIX | MGK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -48.43% | +26.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -16.85% | +14.09% |
Max Drawdown (3Y)Largest decline over 3 years | -5.71% | -23.36% | +17.65% |
Max Drawdown (5Y)Largest decline over 5 years | -17.81% | -36.01% | +18.20% |
Max Drawdown (10Y)Largest decline over 10 years | -17.81% | -36.01% | +18.20% |
Current DrawdownCurrent decline from peak | -1.87% | -6.13% | +4.26% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -7.57% | +5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 5.40% | -4.61% |
Volatility
AMHIX vs. MGK - Volatility Comparison
The current volatility for American High-Income Municipal Bond Fund (AMHIX) is 0.92%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 5.90%. This indicates that AMHIX experiences smaller price fluctuations and is considered to be less risky than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMHIX | MGK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 5.90% | -4.98% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 14.66% | -12.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 18.25% | -15.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 22.93% | -18.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.53% | 22.02% | -17.49% |
AMHIX vs. MGK - Expense Ratio Comparison
AMHIX has a 0.63% expense ratio, which is higher than MGK's 0.05% expense ratio.
Dividends
AMHIX vs. MGK - Dividend Comparison
AMHIX's dividend yield for the trailing twelve months is around 3.59%, more than MGK's 0.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMHIX American High-Income Municipal Bond Fund | 3.59% | 5.26% | 3.80% | 3.10% | 2.53% | 3.23% | 3.40% | 3.46% | 3.67% | 4.01% | 3.55% | 4.03% |
MGK Vanguard Mega Cap Growth ETF | 0.34% | 0.35% | 0.43% | 0.50% | 0.70% | 0.41% | 0.65% | 0.85% | 1.12% | 1.23% | 1.53% | 1.43% |
Frequently Asked Questions
AMHIX and MGK have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGK has higher volatility (5.90%) compared to AMHIX (0.92%). In terms of maximum drawdown, AMHIX dropped -21.74% vs MGK's -48.43%.
AMHIX currently has the higher Sharpe Ratio (2.49 vs 0.76), 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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