AONIX vs. AOMIX

Last updated Jun 23, 2026

AONIX (American Century Investments One Choice Portfolio: Very Conservative) and AOMIX (American Century Investments One Choice Portfolio: Moderate) are both Diversified Portfolio funds from American Century. Over the past 10 years, AONIX returned 4.54%/yr vs 8.14%/yr for AOMIX. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.00% expense ratio.

Performance

AONIX vs. AOMIX - Performance Comparison

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

Returns By Period

In the year-to-date period, AONIX achieves a 2.73% return, which is significantly lower than AOMIX's 6.13% return. Over the past 10 years, AONIX has underperformed AOMIX with an annualized return of 4.54%, while AOMIX has yielded a comparatively higher 8.14% annualized return.

AONIX

• 1D: 0.33%
• 1M: 0.64%
• YTD: 2.73%
• 6M: 2.73%
• 1Y: 7.93%
• 3Y*: 6.71%
• 5Y*: 2.93%
• 10Y*: 4.54%

AOMIX

• 1D: 0.71%
• 1M: 1.02%
• YTD: 6.13%
• 6M: 5.93%
• 1Y: 15.50%
• 3Y*: 11.35%
• 5Y*: 5.58%
• 10Y*: 8.14%

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

AONIX vs. AOMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AONIX American Century Investments One Choice Portfolio: Very Conservative	2.73%	7.52%	5.92%	7.60%	-11.35%	6.63%	9.43%	11.96%	-0.93%	6.46%
AOMIX American Century Investments One Choice Portfolio: Moderate	6.13%	12.97%	10.07%	13.04%	-16.37%	11.82%	16.08%	20.14%	-5.23%	14.27%

Correlation

The correlation between AONIX and AOMIX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 1, 2004	0.88

The correlation between AONIX and AOMIX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

AONIX vs. AOMIX — Risk / Return Rank

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

AONIX

AONIX Risk / Return Rank: 51
AONIX Sharpe Ratio Rank: 52
AONIX Sortino Ratio Rank: 55
AONIX Omega Ratio Rank: 55
AONIX Calmar Ratio Rank: 39
AONIX Martin Ratio Rank: 52

AOMIX

AOMIX Risk / Return Rank: 44
AOMIX Sharpe Ratio Rank: 44
AOMIX Sortino Ratio Rank: 43
AOMIX Omega Ratio Rank: 44
AOMIX Calmar Ratio Rank: 38
AOMIX Martin Ratio Rank: 48

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.

AONIX vs. AOMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Investments One Choice Portfolio: Very Conservative (AONIX) and American Century Investments One Choice Portfolio: Moderate (AOMIX). 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.

	AONIX	AOMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.80	+0.16
Sortino ratio: Return per unit of downside risk	2.85	2.55	+0.31
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.04
Calmar ratio: Return relative to maximum drawdown	2.27	2.23	+0.03
Martin ratio: Return relative to average drawdown	10.02	9.43	+0.58

AONIX vs. AOMIX - Sharpe Ratio Comparison

The current AONIX Sharpe Ratio is 1.96, which is comparable to the AOMIX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of AONIX and AOMIX, 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

AONIX vs. AOMIX - Drawdown Comparison

The maximum AONIX drawdown since its inception was -15.27%, smaller than the maximum AOMIX drawdown of -38.62%. Use the drawdown chart below to compare losses from any high point for AONIX and AOMIX.

Drawdown Indicators

	AONIX	AOMIX	Difference
Max Drawdown Largest peak-to-trough decline	-15.27%	-38.62%	+23.35%
Max Drawdown (1Y) Largest decline over 1 year	-3.51%	-6.91%	+3.40%
Max Drawdown (3Y) Largest decline over 3 years	-5.08%	-10.84%	+5.76%
Max Drawdown (5Y) Largest decline over 5 years	-15.27%	-23.24%	+7.97%
Max Drawdown (10Y) Largest decline over 10 years	-15.27%	-24.91%	+9.64%
Current Drawdown Current decline from peak	-0.25%	-0.35%	+0.10%
Average Drawdown Average peak-to-trough decline	-1.98%	-4.90%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	1.63%	-0.84%

Volatility

AONIX vs. AOMIX - Volatility Comparison

The current volatility for American Century Investments One Choice Portfolio: Very Conservative (AONIX) is 1.55%, while American Century Investments One Choice Portfolio: Moderate (AOMIX) has a volatility of 3.22%. This indicates that AONIX experiences smaller price fluctuations and is considered to be less risky than AOMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AONIX	AOMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	3.22%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	3.27%	7.02%	-3.75%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	8.57%	-4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	10.58%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.26%	11.31%	-6.05%

AONIX vs. AOMIX - Expense Ratio Comparison

AONIX has a 0.00% expense ratio, which is lower than AOMIX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AONIX vs. AOMIX - Dividend Comparison

AONIX's dividend yield for the trailing twelve months is around 4.46%, less than AOMIX's 6.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOMIX American Century Investments One Choice Portfolio: Moderate	6.80%	6.69%	2.53%	2.29%	10.49%	9.55%	8.48%	6.61%	8.27%	2.11%	3.64%	7.11%
AONIX American Century Investments One Choice Portfolio: Very Conservative	4.46%	3.82%	3.10%	2.80%	7.19%	6.36%	3.46%	3.57%	5.83%	3.08%	2.16%	2.79%

Frequently Asked Questions

Can I hold both AONIX and AOMIX in my portfolio?

With a correlation of 0.91, AONIX and AOMIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AONIX or AOMIX?

AOMIX has higher volatility (3.22%) compared to AONIX (1.55%). In terms of maximum drawdown, AONIX dropped -15.27% vs AOMIX's -38.62%.

Which has better risk-adjusted returns?

AONIX currently has the higher Sharpe Ratio (1.96 vs 1.80), 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.