AMUSX vs. VGAVX

Last updated Aug 4, 2026

AMUSX (American Funds U.S. Government Securities Fund) and VGAVX (Vanguard Emerging Markets Government Bond Index Fund Admiral Shares) are both Government Bonds funds. Over the past 10 years, AMUSX returned 0.93%/yr vs 3.17%/yr for VGAVX. Their 0.42 correlation means their historical movements had little consistent relationship. AMUSX charges 0.61%/yr vs 0.20%/yr for VGAVX.

Performance

AMUSX vs. VGAVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds U.S. Government Securities Fund (AMUSX) and Vanguard Emerging Markets Government Bond Index Fund Admiral Shares (VGAVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUSX achieves a -1.86% return, which is significantly lower than VGAVX's 0.37% return. Over the past 10 years, AMUSX has underperformed VGAVX with an annualized return of 0.93%, while VGAVX has yielded a comparatively higher 3.17% annualized return.

AMUSX

• 1D: -0.43%
• 1M: -1.52%
• 6M: -1.75%
• YTD: -1.86%
• 1Y: 0.34%
• 3Y*: 3.17%
• 5Y*: -0.76%
• 10Y*: 0.93%
• ALL TIME*: 3.59%

VGAVX

• 1D: 0.00%
• 1M: -1.60%
• 6M: 0.16%
• YTD: 0.37%
• 1Y: 6.24%
• 3Y*: 8.31%
• 5Y*: 1.83%
• 10Y*: 3.17%
• ALL TIME*: 3.94%

*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)
AMUSX American Funds U.S. Government Securities Fund	$0.00	$0.00	$0.00
VGAVX Vanguard Emerging Markets Government Bond Index Fund Admiral Shares	$0.00	$0.00	$0.00

AMUSX vs. VGAVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMUSX American Funds U.S. Government Securities Fund	-1.86%	7.55%	0.63%	2.79%	-11.50%	-0.84%	9.44%	5.03%	0.64%	1.54%
VGAVX Vanguard Emerging Markets Government Bond Index Fund Admiral Shares	0.37%	12.98%	6.27%	10.44%	-16.68%	-1.74%	5.82%	14.01%	-2.77%	8.45%

Correlation

The correlation between AMUSX and VGAVX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (10Y) Provides a long-term view across more market conditions.	0.48
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.42

The correlation between AMUSX and VGAVX shifts across timeframes, from 0.42 (all time) to 0.66 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

AMUSX vs. VGAVX — Risk / Return Rank

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

AMUSX

AMUSX Risk / Return Rank: 8
AMUSX Sharpe Ratio Rank: 9
AMUSX Sortino Ratio Rank: 8
AMUSX Omega Ratio Rank: 8
AMUSX Calmar Ratio Rank: 9
AMUSX Martin Ratio Rank: 8

VGAVX

VGAVX Risk / Return Rank: 51
VGAVX Sharpe Ratio Rank: 56
VGAVX Sortino Ratio Rank: 65
VGAVX Omega Ratio Rank: 59
VGAVX Calmar Ratio Rank: 35
VGAVX Martin Ratio Rank: 39

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.

AMUSX vs. VGAVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds U.S. Government Securities Fund (AMUSX) and Vanguard Emerging Markets Government Bond Index Fund Admiral Shares (VGAVX). 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.

	AMUSX	VGAVX	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.53	-1.16
Sortino ratio: Return per unit of downside risk	0.56	2.36	-1.80
Omega ratio: Gain probability vs. loss probability	1.07	1.29	-0.23
Calmar ratio: Return relative to maximum drawdown	0.43	1.61	-1.18
Martin ratio: Return relative to average drawdown	1.03	6.10	-5.07

AMUSX vs. VGAVX - Sharpe Ratio Comparison

The current AMUSX Sharpe Ratio is 0.37, which is lower than the VGAVX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of AMUSX and VGAVX, 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

AMUSX vs. VGAVX - Drawdown Comparison

The maximum AMUSX drawdown since its inception was -17.48%, smaller than the maximum VGAVX drawdown of -26.77%. Use the drawdown chart below to compare losses from any high point for AMUSX and VGAVX.

Drawdown Indicators

	AMUSX	VGAVX	Difference
Max Drawdown Largest peak-to-trough decline	-17.48%	-26.77%	+9.29%
Max Drawdown (1Y) Largest decline over 1 year	-3.35%	-3.97%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-5.31%	-6.21%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-16.84%	-26.77%	+9.93%
Max Drawdown (10Y) Largest decline over 10 years	-17.48%	-26.77%	+9.29%
Current Drawdown Current decline from peak	-4.70%	-1.91%	-2.79%
Average Drawdown Average peak-to-trough decline	-2.75%	-4.63%	+1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	1.05%	+0.34%

Volatility

AMUSX vs. VGAVX - Volatility Comparison

American Funds U.S. Government Securities Fund (AMUSX) and Vanguard Emerging Markets Government Bond Index Fund Admiral Shares (VGAVX) have volatilities of 1.04% and 1.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMUSX	VGAVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.00%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	3.50%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	4.18%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.08%	6.34%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.87%	6.37%	-1.50%

AMUSX vs. VGAVX - Expense Ratio Comparison

AMUSX has a 0.61% expense ratio, which is higher than VGAVX's 0.20% expense ratio.

Dividends

AMUSX vs. VGAVX - Dividend Comparison

AMUSX's dividend yield for the trailing twelve months is around 3.73%, less than VGAVX's 5.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMUSX American Funds U.S. Government Securities Fund	3.73%	3.97%	4.19%	3.44%	2.01%	1.05%	4.92%	2.79%	1.72%	1.32%	2.30%	2.84%
VGAVX Vanguard Emerging Markets Government Bond Index Fund Admiral Shares	5.30%	5.88%	6.56%	5.50%	5.29%	4.27%	4.20%	4.60%	4.54%	4.62%	4.73%	4.94%

Frequently Asked Questions

Can I hold both AMUSX and VGAVX in my portfolio?

AMUSX and VGAVX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMUSX or VGAVX?

AMUSX has higher volatility (1.04%) compared to VGAVX (1.00%). In terms of maximum drawdown, AMUSX dropped -17.48% vs VGAVX's -26.77%.

Which has better risk-adjusted returns?

VGAVX currently has the higher Sharpe Ratio (1.53 vs 0.37), 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.