APBDX vs. APWEX

Last updated Jun 5, 2026

APBDX (Cavanal Hill Bond Fund) and APWEX (Cavanal Hill World Energy Fund) are both mutual funds - APBDX is a Intermediate Core Bond fund managed by Cavanal Hill funds, while APWEX is a Energy Equities fund managed by Cavanal Hill funds. Over the past 10 years, APBDX returned 1.11%/yr vs 12.20%/yr for APWEX. At a correlation of -0.17, they often move in opposite directions. APBDX charges 0.72%/yr vs 1.15%/yr for APWEX.

Performance

APBDX vs. APWEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cavanal Hill Bond Fund (APBDX) and Cavanal Hill World Energy Fund (APWEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APBDX achieves a 0.18% return, which is significantly lower than APWEX's 31.95% return. Over the past 10 years, APBDX has underperformed APWEX with an annualized return of 1.11%, while APWEX has yielded a comparatively higher 12.20% annualized return.

APBDX

• 1D: -0.12%
• 1M: 0.21%
• YTD: 0.18%
• 6M: 0.38%
• 1Y: 4.15%
• 3Y*: 3.72%
• 5Y*: -0.19%
• 10Y*: 1.11%

APWEX

• 1D: -0.04%
• 1M: -3.16%
• YTD: 31.95%
• 6M: 25.38%
• 1Y: 48.88%
• 3Y*: 26.30%
• 5Y*: 19.99%
• 10Y*: 12.20%

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

APBDX vs. APWEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APBDX Cavanal Hill Bond Fund	0.18%	6.49%	1.90%	5.47%	-13.46%	-1.57%	6.67%	7.17%	0.02%	2.18%
APWEX Cavanal Hill World Energy Fund	31.95%	21.35%	13.22%	4.57%	32.44%	36.63%	-0.00%	8.29%	-24.50%	-1.94%

Correlation

The correlation between APBDX and APWEX is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.09
Correlation (10Y) Calculated over the trailing 10-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Feb 7, 2014	-0.17

The correlation between APBDX and APWEX shifts across timeframes, from -0.17 (all time) to -0.03 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

APBDX vs. APWEX — Risk / Return Rank

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

APBDX

APBDX Risk / Return Rank: 20
APBDX Sharpe Ratio Rank: 19
APBDX Sortino Ratio Rank: 21
APBDX Omega Ratio Rank: 18
APBDX Calmar Ratio Rank: 22
APBDX Martin Ratio Rank: 19

APWEX

APWEX Risk / Return Rank: 82
APWEX Sharpe Ratio Rank: 82
APWEX Sortino Ratio Rank: 71
APWEX Omega Ratio Rank: 67
APWEX Calmar Ratio Rank: 97
APWEX Martin Ratio Rank: 94

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.

APBDX vs. APWEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Bond Fund (APBDX) and Cavanal Hill World Energy Fund (APWEX). 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.

	APBDX	APWEX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.68	-1.45
Sortino ratio: Return per unit of downside risk	1.88	3.50	-1.63
Omega ratio: Gain probability vs. loss probability	1.22	1.45	-0.23
Calmar ratio: Return relative to maximum drawdown	1.70	7.37	-5.67
Martin ratio: Return relative to average drawdown	4.96	21.29	-16.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APBDX vs. APWEX - Sharpe Ratio Comparison

The current APBDX Sharpe Ratio is 1.23, which is lower than the APWEX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of APBDX and APWEX, 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

	APBDX	APWEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	2.68	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.78	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.47	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.34	+0.66

Drawdowns

APBDX vs. APWEX - Drawdown Comparison

The maximum APBDX drawdown since its inception was -18.21%, smaller than the maximum APWEX drawdown of -61.57%. Use the drawdown chart below to compare losses from any high point for APBDX and APWEX.

Drawdown Indicators

	APBDX	APWEX	Difference
Max Drawdown Largest peak-to-trough decline	-18.21%	-61.57%	+43.36%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-6.46%	+3.63%
Max Drawdown (3Y) Largest decline over 3 years	-5.81%	-23.02%	+17.21%
Max Drawdown (5Y) Largest decline over 5 years	-18.21%	-25.75%	+7.54%
Max Drawdown (10Y) Largest decline over 10 years	-18.21%	-57.43%	+39.22%
Current Drawdown Current decline from peak	-2.38%	-3.20%	+0.82%
Average Drawdown Average peak-to-trough decline	-2.58%	-17.06%	+14.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	2.23%	-1.26%

Volatility

APBDX vs. APWEX - Volatility Comparison

The current volatility for Cavanal Hill Bond Fund (APBDX) is 1.23%, while Cavanal Hill World Energy Fund (APWEX) has a volatility of 5.71%. This indicates that APBDX experiences smaller price fluctuations and is considered to be less risky than APWEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APBDX	APWEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	5.71%	-4.48%
Volatility (6M) Calculated over the trailing 6-month period	2.67%	13.08%	-10.41%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	17.88%	-13.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.73%	25.82%	-20.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.73%	25.84%	-21.11%

APBDX vs. APWEX - Expense Ratio Comparison

APBDX has a 0.72% expense ratio, which is lower than APWEX's 1.15% expense ratio.

Dividends

APBDX vs. APWEX - Dividend Comparison

APBDX's dividend yield for the trailing twelve months is around 3.74%, more than APWEX's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APBDX Cavanal Hill Bond Fund	3.74%	3.54%	3.45%	2.65%	2.41%	1.85%	1.79%	2.24%	2.16%	1.62%	1.97%	1.79%
APWEX Cavanal Hill World Energy Fund	0.57%	0.45%	1.80%	1.54%	1.95%	1.44%	1.54%	2.57%	1.26%	0.43%	0.97%	0.67%

Frequently Asked Questions

Can I hold both APBDX and APWEX in my portfolio?

APBDX and APWEX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APBDX or APWEX?

APWEX has higher volatility (5.71%) compared to APBDX (1.23%). In terms of maximum drawdown, APBDX dropped -18.21% vs APWEX's -61.57%.

Which has better risk-adjusted returns?

APWEX currently has the higher Sharpe Ratio (2.68 vs 1.23), 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.