APBDX vs. APENX
APBDX (Cavanal Hill Bond Fund) and APENX (Cavanal Hill Strategic Enhanced Yield Fund) are both mutual funds - APBDX is a Intermediate Core Bond fund managed by Cavanal Hill funds, while APENX is a Multisector Bonds fund managed by Cavanal Hill funds. Over the past 5 years, APBDX returned -0.22%/yr vs 0.66%/yr for APENX. Their correlation of 0.92 suggests significant overlap in exposure. APBDX charges 0.72%/yr vs 1.01%/yr for APENX.
Performance
APBDX vs. APENX - Performance Comparison
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Returns By Period
In the year-to-date period, APBDX achieves a 0.41% return, which is significantly lower than APENX's 0.61% return.
APBDX
- 1D
- 0.12%
- 1M
- 1.04%
- YTD
- 0.41%
- 6M
- 0.85%
- 1Y
- 4.27%
- 3Y*
- 3.93%
- 5Y*
- -0.22%
- 10Y*
- 1.12%
APENX
- 1D
- 0.00%
- 1M
- 1.07%
- YTD
- 0.61%
- 6M
- 1.15%
- 1Y
- 5.55%
- 3Y*
- 5.03%
- 5Y*
- 0.66%
- 10Y*
- —
APBDX vs. APENX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APBDX Cavanal Hill Bond Fund | 0.41% | 6.49% | 1.90% | 5.47% | -13.46% | -1.57% | 6.67% | 7.17% | 0.02% | 0.47% |
APENX Cavanal Hill Strategic Enhanced Yield Fund | 0.61% | 7.88% | 3.28% | 4.87% | -12.87% | -0.01% | 5.73% | 6.77% | 2.87% | 0.00% |
Correlation
The correlation between APBDX and APENX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2017 | 0.92 |
The correlation between APBDX and APENX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
APBDX vs. APENX — Risk / Return Rank
APBDX
APENX
APBDX vs. APENX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Bond Fund (APBDX) and Cavanal Hill Strategic Enhanced Yield Fund (APENX). 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.
| APBDX | APENX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.15 | -0.59 |
| Martin ratioReturn relative to average drawdown | 4.37 | 6.45 | -2.08 |
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Drawdowns
APBDX vs. APENX - Drawdown Comparison
The maximum APBDX drawdown since its inception was -18.21%, which is greater than APENX's maximum drawdown of -16.63%. Use the drawdown chart below to compare losses from any high point for APBDX and APENX.
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Drawdown Indicators
| APBDX | APENX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.21% | -16.63% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.65% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.81% | -5.14% | -0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -18.21% | -16.15% | -2.06% |
Max Drawdown (10Y)Largest decline over 10 years | -18.21% | — | — |
Current DrawdownCurrent decline from peak | -2.15% | -1.05% | -1.10% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -4.46% | +1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.88% | +0.13% |
Volatility
APBDX vs. APENX - Volatility Comparison
The current volatility for Cavanal Hill Bond Fund (APBDX) is 0.97%, while Cavanal Hill Strategic Enhanced Yield Fund (APENX) has a volatility of 1.12%. This indicates that APBDX experiences smaller price fluctuations and is considered to be less risky than APENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APBDX | APENX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.12% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 2.83% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 3.77% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 4.79% | +0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 4.26% | +0.47% |
APBDX vs. APENX - Expense Ratio Comparison
APBDX has a 0.72% expense ratio, which is lower than APENX's 1.01% expense ratio.
Dividends
APBDX vs. APENX - Dividend Comparison
APBDX's dividend yield for the trailing twelve months is around 3.73%, less than APENX's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APBDX Cavanal Hill Bond Fund | 3.73% | 3.54% | 3.45% | 2.65% | 2.41% | 1.85% | 1.79% | 2.24% | 2.16% | 1.62% | 1.97% | 1.79% |
APENX Cavanal Hill Strategic Enhanced Yield Fund | 3.94% | 4.03% | 4.51% | 3.66% | 3.72% | 2.00% | 3.20% | 4.02% | 2.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, APBDX and APENX 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.
APENX has higher volatility (1.12%) compared to APBDX (0.97%). In terms of maximum drawdown, APBDX dropped -18.21% vs APENX's -16.63%.
APENX currently has the higher Sharpe Ratio (1.52 vs 1.17), 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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