APOIX vs. TWHIX
APOIX (American Century Short Duration Inflation Protection Bond Fund Investor Class) and TWHIX (American Century Heritage Fund) are both mutual funds - APOIX is a Inflation-Protected Bonds fund managed by American Century, while TWHIX is a Mid Cap Growth Equities fund managed by American Century. Over the past 10 years, APOIX returned 3.05%/yr vs 11.27%/yr for TWHIX. Their -0.02 correlation means they have often moved in opposite directions in the past. APOIX charges 0.57%/yr vs 1.00%/yr for TWHIX.
Performance
APOIX vs. TWHIX - Performance Comparison
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Returns By Period
In the year-to-date period, APOIX achieves a 1.67% return, which is significantly lower than TWHIX's 3.13% return. Over the past 10 years, APOIX has underperformed TWHIX with an annualized return of 3.05%, while TWHIX has yielded a comparatively higher 11.27% annualized return.
APOIX
- 1D
- 0.00%
- 1M
- 0.19%
- 6M
- 1.09%
- YTD
- 1.67%
- 1Y
- 2.60%
- 3Y*
- 4.76%
- 5Y*
- 2.57%
- 10Y*
- 3.05%
- ALL TIME*
- 3.04%
TWHIX
- 1D
- 2.10%
- 1M
- -3.99%
- 6M
- 3.23%
- YTD
- 3.13%
- 1Y
- 0.36%
- 3Y*
- 11.89%
- 5Y*
- 3.31%
- 10Y*
- 11.27%
- ALL TIME*
- 10.98%
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 |
APOIX vs. TWHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APOIX American Century Short Duration Inflation Protection Bond Fund Investor Class | 1.67% | 5.95% | 4.15% | 3.82% | -3.89% | 6.30% | 5.06% | 4.77% | 1.81% | 0.73% |
TWHIX American Century Heritage Fund | 3.13% | 6.53% | 24.66% | 20.64% | -28.13% | 11.52% | 42.61% | 35.50% | -5.08% | 21.83% |
Correlation
The correlation between APOIX and TWHIX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 31, 2005 | -0.02 |
The correlation between APOIX and TWHIX shifts across timeframes, from -0.02 (all time) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
APOIX vs. TWHIX — Risk / Return Rank
APOIX
TWHIX
APOIX vs. TWHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Short Duration Inflation Protection Bond Fund Investor Class (APOIX) and American Century Heritage Fund (TWHIX). 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.
| APOIX | TWHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.00 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | -0.13 | +3.78 |
| Martin ratioReturn relative to average drawdown | 10.52 | -0.36 | +10.87 |
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Drawdowns
APOIX vs. TWHIX - Drawdown Comparison
The maximum APOIX drawdown since its inception was -14.54%, smaller than the maximum TWHIX drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for APOIX and TWHIX.
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Drawdown Indicators
| APOIX | TWHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.54% | -56.98% | +42.44% |
Max Drawdown (1Y)Largest decline over 1 year | -0.82% | -15.82% | +15.00% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -26.30% | +24.88% |
Max Drawdown (5Y)Largest decline over 5 years | -6.58% | -40.34% | +33.76% |
Max Drawdown (10Y)Largest decline over 10 years | -6.58% | -40.34% | +33.76% |
Current DrawdownCurrent decline from peak | -0.35% | -5.18% | +4.83% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -12.21% | +10.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | 5.57% | -5.29% |
Volatility
APOIX vs. TWHIX - Volatility Comparison
The current volatility for American Century Short Duration Inflation Protection Bond Fund Investor Class (APOIX) is 0.41%, while American Century Heritage Fund (TWHIX) has a volatility of 4.82%. This indicates that APOIX experiences smaller price fluctuations and is considered to be less risky than TWHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APOIX | TWHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 4.82% | -4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.36% | 14.77% | -13.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 18.53% | -16.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 23.41% | -20.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.85% | 22.85% | -20.00% |
APOIX vs. TWHIX - Expense Ratio Comparison
APOIX has a 0.57% expense ratio, which is lower than TWHIX's 1.00% expense ratio.
Dividends
APOIX vs. TWHIX - Dividend Comparison
APOIX's dividend yield for the trailing twelve months is around 3.53%, less than TWHIX's 21.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
APOIX American Century Short Duration Inflation Protection Bond Fund Investor Class | 3.53% | 3.99% | 2.31% | 2.78% | 5.63% | 3.92% | 0.81% | 1.69% | 3.99% | 1.52% | 0.42% |
TWHIX American Century Heritage Fund | 21.47% | 22.14% | 15.58% | 0.78% | 0.98% | 12.00% | 13.72% | 11.32% | 25.33% | 9.38% | 8.71% |
Frequently Asked Questions
APOIX and TWHIX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TWHIX has higher volatility (4.82%) compared to APOIX (0.41%). In terms of maximum drawdown, APOIX dropped -14.54% vs TWHIX's -56.98%.
APOIX currently has the higher Sharpe Ratio (1.67 vs -0.11), 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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