AOCIX vs. TWEIX

Last updated Jun 5, 2026

AOCIX (American Century Investments One Choice Portfolio: Conservative) and TWEIX (American Century Equity Income Fund) are both mutual funds - AOCIX is a Diversified Portfolio fund managed by American Century, while TWEIX is a Large Cap Value Equities fund managed by American Century. Over the past 10 years, AOCIX returned 6.06%/yr vs 8.65%/yr for TWEIX. Their correlation of 0.85 suggests significant overlap in exposure. AOCIX charges 0.00%/yr vs 0.94%/yr for TWEIX.

Performance

AOCIX vs. TWEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Investments One Choice Portfolio: Conservative (AOCIX) and American Century Equity Income Fund (TWEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOCIX achieves a 3.61% return, which is significantly lower than TWEIX's 6.14% return. Over the past 10 years, AOCIX has underperformed TWEIX with an annualized return of 6.06%, while TWEIX has yielded a comparatively higher 8.65% annualized return.

AOCIX

• 1D: -0.42%
• 1M: 1.07%
• YTD: 3.61%
• 6M: 3.66%
• 1Y: 10.41%
• 3Y*: 9.01%
• 5Y*: 3.76%
• 10Y*: 6.06%

TWEIX

• 1D: 0.00%
• 1M: -0.33%
• YTD: 6.14%
• 6M: 6.50%
• 1Y: 15.66%
• 3Y*: 10.63%
• 5Y*: 6.81%
• 10Y*: 8.65%

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

AOCIX vs. TWEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOCIX American Century Investments One Choice Portfolio: Conservative	3.61%	10.20%	7.42%	10.53%	-14.05%	9.03%	12.83%	16.06%	-3.25%	9.89%
TWEIX American Century Equity Income Fund	6.14%	11.84%	10.51%	3.92%	-3.06%	16.83%	1.10%	24.14%	-3.77%	13.35%

Correlation

The correlation between AOCIX and TWEIX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 4, 2004	0.85

The correlation between AOCIX and TWEIX shifts across timeframes, from 0.66 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AOCIX vs. TWEIX — Risk / Return Rank

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

AOCIX

AOCIX Risk / Return Rank: 40
AOCIX Sharpe Ratio Rank: 41
AOCIX Sortino Ratio Rank: 41
AOCIX Omega Ratio Rank: 41
AOCIX Calmar Ratio Rank: 33
AOCIX Martin Ratio Rank: 44

TWEIX

TWEIX Risk / Return Rank: 39
TWEIX Sharpe Ratio Rank: 40
TWEIX Sortino Ratio Rank: 44
TWEIX Omega Ratio Rank: 36
TWEIX Calmar Ratio Rank: 40
TWEIX Martin Ratio Rank: 35

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.

AOCIX vs. TWEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Investments One Choice Portfolio: Conservative (AOCIX) and American Century Equity Income Fund (TWEIX). 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.

	AOCIX	TWEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.83	-0.01
Sortino ratio: Return per unit of downside risk	2.64	2.78	-0.14
Omega ratio: Gain probability vs. loss probability	1.34	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	2.10	2.38	-0.29
Martin ratio: Return relative to average drawdown	9.08	7.84	+1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOCIX vs. TWEIX - Sharpe Ratio Comparison

The current AOCIX Sharpe Ratio is 1.82, which is comparable to the TWEIX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of AOCIX and TWEIX, 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

	AOCIX	TWEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	1.83	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.64	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.65	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.75	-0.08

Drawdowns

AOCIX vs. TWEIX - Drawdown Comparison

The maximum AOCIX drawdown since its inception was -26.87%, smaller than the maximum TWEIX drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for AOCIX and TWEIX.

Drawdown Indicators

	AOCIX	TWEIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.87%	-39.30%	+12.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	-6.43%	+1.33%
Max Drawdown (3Y) Largest decline over 3 years	-7.31%	-10.16%	+2.85%
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	-13.69%	-6.02%
Max Drawdown (10Y) Largest decline over 10 years	-19.71%	-32.82%	+13.11%
Current Drawdown Current decline from peak	-0.42%	-2.51%	+2.09%
Average Drawdown Average peak-to-trough decline	-3.19%	-4.16%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	1.95%	-0.77%

Volatility

AOCIX vs. TWEIX - Volatility Comparison

The current volatility for American Century Investments One Choice Portfolio: Conservative (AOCIX) is 1.75%, while American Century Equity Income Fund (TWEIX) has a volatility of 2.10%. This indicates that AOCIX experiences smaller price fluctuations and is considered to be less risky than TWEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOCIX	TWEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	2.10%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	4.66%	6.20%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	5.87%	8.37%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.82%	10.74%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.09%	13.35%	-5.26%

AOCIX vs. TWEIX - Expense Ratio Comparison

AOCIX has a 0.00% expense ratio, which is lower than TWEIX's 0.94% expense ratio.

Dividends

AOCIX vs. TWEIX - Dividend Comparison

AOCIX's dividend yield for the trailing twelve months is around 4.81%, less than TWEIX's 9.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOCIX American Century Investments One Choice Portfolio: Conservative	4.81%	5.12%	2.79%	2.50%	9.63%	8.19%	5.25%	4.87%	7.07%	2.05%	2.93%	5.97%
TWEIX American Century Equity Income Fund	9.77%	10.35%	11.51%	8.02%	8.76%	6.83%	2.00%	7.38%	8.79%	11.95%	7.88%	10.49%

Frequently Asked Questions

Can I hold both AOCIX and TWEIX in my portfolio?

AOCIX and TWEIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOCIX or TWEIX?

TWEIX has higher volatility (2.10%) compared to AOCIX (1.75%). In terms of maximum drawdown, AOCIX dropped -26.87% vs TWEIX's -39.30%.

Which has better risk-adjusted returns?

TWEIX currently has the higher Sharpe Ratio (1.83 vs 1.82), 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.