APENX vs. AIWEX
APENX (Cavanal Hill Strategic Enhanced Yield Fund) and AIWEX (Cavanal Hill World Energy Fund Institutional Class) are both mutual funds - APENX is a Multisector Bonds fund managed by Cavanal Hill, while AIWEX is a Energy Equities fund actively managed by Cavanal Hill. Over the past 5 years, APENX returned 0.26%/yr vs 21.91%/yr for AIWEX. Their -0.15 correlation means they have often moved in opposite directions in the past. APENX charges 1.01%/yr vs 0.91%/yr for AIWEX.
Performance
APENX vs. AIWEX - Performance Comparison
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Returns By Period
In the year-to-date period, APENX achieves a -0.48% return, which is significantly lower than AIWEX's 24.71% return.
APENX
- 1D
- -0.11%
- 1M
- -1.12%
- 6M
- -0.65%
- YTD
- -0.48%
- 1Y
- 2.63%
- 3Y*
- 4.67%
- 5Y*
- 0.26%
- 10Y*
- —
- ALL TIME*
- 1.91%
AIWEX
- 1D
- 2.70%
- 1M
- 2.17%
- 6M
- 11.28%
- YTD
- 24.71%
- 1Y
- 33.37%
- 3Y*
- 19.22%
- 5Y*
- 21.91%
- 10Y*
- 12.06%
- ALL TIME*
- 9.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
APENX vs. AIWEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APENX Cavanal Hill Strategic Enhanced Yield Fund | -0.48% | 7.88% | 3.28% | 4.87% | -12.87% | -0.01% | 5.73% | 6.77% | 2.87% | 0.00% |
AIWEX Cavanal Hill World Energy Fund Institutional Class | 24.71% | 21.74% | 13.42% | 4.93% | 32.76% | 36.90% | 0.25% | 8.00% | -24.31% | 0.88% |
Correlation
The correlation between APENX and AIWEX is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.15 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2017 | -0.15 |
The correlation between APENX and AIWEX shifts across timeframes, from -0.15 (1 year) to -0.03 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
APENX vs. AIWEX — Risk / Return Rank
APENX
AIWEX
APENX vs. AIWEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Strategic Enhanced Yield Fund (APENX) and Cavanal Hill World Energy Fund Institutional Class (AIWEX). 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.
| APENX | AIWEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 2.65 | -1.30 |
| Martin ratioReturn relative to average drawdown | 3.57 | 7.67 | -4.11 |
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Drawdowns
APENX vs. AIWEX - Drawdown Comparison
The maximum APENX drawdown since its inception was -16.63%, smaller than the maximum AIWEX drawdown of -57.44%. Use the drawdown chart below to compare losses from any high point for APENX and AIWEX.
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Drawdown Indicators
| APENX | AIWEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.63% | -57.44% | +40.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -10.96% | +8.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -23.00% | +18.43% |
Max Drawdown (5Y)Largest decline over 5 years | -16.15% | -25.68% | +9.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.44% | — |
Current DrawdownCurrent decline from peak | -2.13% | -8.55% | +6.42% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -12.72% | +8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 3.84% | -2.84% |
Volatility
APENX vs. AIWEX - Volatility Comparison
The current volatility for Cavanal Hill Strategic Enhanced Yield Fund (APENX) is 0.83%, while Cavanal Hill World Energy Fund Institutional Class (AIWEX) has a volatility of 5.69%. This indicates that APENX experiences smaller price fluctuations and is considered to be less risky than AIWEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APENX | AIWEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 5.69% | -4.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 13.98% | -11.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 18.55% | -14.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.81% | 25.56% | -20.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 25.86% | -21.61% |
APENX vs. AIWEX - Expense Ratio Comparison
APENX has a 1.01% expense ratio, which is higher than AIWEX's 0.91% expense ratio.
Dividends
APENX vs. AIWEX - Dividend Comparison
APENX's dividend yield for the trailing twelve months is around 3.68%, more than AIWEX's 0.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIWEX Cavanal Hill World Energy Fund Institutional Class | 0.94% | 0.81% | 1.97% | 1.80% | 2.18% | 1.63% | 1.81% | 2.27% | 1.65% | 0.67% | 1.22% | 1.00% |
APENX Cavanal Hill Strategic Enhanced Yield Fund | 3.68% | 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
APENX and AIWEX have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIWEX has higher volatility (5.69%) compared to APENX (0.83%). In terms of maximum drawdown, APENX dropped -16.63% vs AIWEX's -57.44%.
AIWEX currently has the higher Sharpe Ratio (1.57 vs 0.98), 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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