ASTEX vs. TAIAX

Last updated Aug 1, 2026

ASTEX (American Funds Short-Term Tax Exempt Bond Fund) and TAIAX (American Funds Tax-Aware Conservative Growth and Income Portfolio) are both mutual funds - ASTEX is a Municipal Bonds fund managed by American Funds, while TAIAX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, ASTEX returned 1.49%/yr vs 7.61%/yr for TAIAX. Their 0.11 correlation means their historical movements had little consistent relationship. ASTEX charges 0.53%/yr vs 0.34%/yr for TAIAX.

Performance

ASTEX vs. TAIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Short-Term Tax Exempt Bond Fund (ASTEX) and American Funds Tax-Aware Conservative Growth and Income Portfolio (TAIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASTEX achieves a 0.62% return, which is significantly lower than TAIAX's 6.23% return. Over the past 10 years, ASTEX has underperformed TAIAX with an annualized return of 1.49%, while TAIAX has yielded a comparatively higher 7.61% annualized return.

ASTEX

• 1D: -0.10%
• 1M: -0.60%
• 6M: -0.09%
• YTD: 0.62%
• 1Y: 2.23%
• 3Y*: 3.51%
• 5Y*: 1.47%
• 10Y*: 1.49%
• ALL TIME*: 1.47%

TAIAX

• 1D: 0.73%
• 1M: -0.61%
• 6M: 4.26%
• YTD: 6.23%
• 1Y: 13.73%
• 3Y*: 11.33%
• 5Y*: 6.80%
• 10Y*: 7.61%
• ALL TIME*: 7.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASTEX American Funds Short-Term Tax Exempt Bond Fund	$0.00	$0.00	$0.00
TAIAX American Funds Tax-Aware Conservative Growth and Income Portfolio	$0.00	$0.00	$0.00

ASTEX vs. TAIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASTEX American Funds Short-Term Tax Exempt Bond Fund	0.62%	5.34%	2.46%	2.91%	-3.25%	-0.29%	2.91%	3.26%	0.94%	1.63%
TAIAX American Funds Tax-Aware Conservative Growth and Income Portfolio	6.23%	13.27%	10.09%	11.74%	-10.18%	13.47%	7.46%	16.26%	-2.17%	14.25%

Correlation

The correlation between ASTEX and TAIAX is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.25
Correlation (10Y) Provides a long-term view across more market conditions.	0.16
Correlation (All Time) Calculated using the full available price history since May 21, 2012	0.11

Over the past year, ASTEX and TAIAX have become more correlated (0.32) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

ASTEX vs. TAIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ASTEX

ASTEX Risk / Return Rank: 74
ASTEX Sharpe Ratio Rank: 80
ASTEX Sortino Ratio Rank: 86
ASTEX Omega Ratio Rank: 93
ASTEX Calmar Ratio Rank: 64
ASTEX Martin Ratio Rank: 45

TAIAX

TAIAX Risk / Return Rank: 77
TAIAX Sharpe Ratio Rank: 80
TAIAX Sortino Ratio Rank: 79
TAIAX Omega Ratio Rank: 80
TAIAX Calmar Ratio Rank: 65
TAIAX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ASTEX vs. TAIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Short-Term Tax Exempt Bond Fund (ASTEX) and American Funds Tax-Aware Conservative Growth and Income Portfolio (TAIAX). 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.

	ASTEX	TAIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.89	-0.02
Sortino ratio: Return per unit of downside risk	3.11	2.68	+0.43
Omega ratio: Gain probability vs. loss probability	1.53	1.36	+0.18
Calmar ratio: Return relative to maximum drawdown	2.10	2.12	-0.02
Martin ratio: Return relative to average drawdown	6.39	9.57	-3.18

ASTEX vs. TAIAX - Sharpe Ratio Comparison

The current ASTEX Sharpe Ratio is 1.87, which is comparable to the TAIAX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of ASTEX and TAIAX, 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

ASTEX vs. TAIAX - Drawdown Comparison

The maximum ASTEX drawdown since its inception was -5.73%, smaller than the maximum TAIAX drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for ASTEX and TAIAX.

Drawdown Indicators

	ASTEX	TAIAX	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-21.42%	+15.69%
Max Drawdown (1Y) Largest decline over 1 year	-1.28%	-6.16%	+4.88%
Max Drawdown (3Y) Largest decline over 3 years	-1.90%	-8.75%	+6.85%
Max Drawdown (5Y) Largest decline over 5 years	-5.62%	-16.76%	+11.14%
Max Drawdown (10Y) Largest decline over 10 years	-5.73%	-21.42%	+15.69%
Current Drawdown Current decline from peak	-0.69%	-0.94%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.70%	-2.19%	+1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	1.36%	-0.94%

Volatility

ASTEX vs. TAIAX - Volatility Comparison

The current volatility for American Funds Short-Term Tax Exempt Bond Fund (ASTEX) is 0.39%, while American Funds Tax-Aware Conservative Growth and Income Portfolio (TAIAX) has a volatility of 1.71%. This indicates that ASTEX experiences smaller price fluctuations and is considered to be less risky than TAIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASTEX	TAIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	1.71%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	1.11%	5.73%	-4.62%
Volatility (1Y) Calculated over the trailing 1-year period	1.43%	6.89%	-5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.78%	7.69%	-5.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.65%	8.18%	-6.53%

ASTEX vs. TAIAX - Expense Ratio Comparison

ASTEX has a 0.53% expense ratio, which is higher than TAIAX's 0.34% expense ratio.

Dividends

ASTEX vs. TAIAX - Dividend Comparison

ASTEX's dividend yield for the trailing twelve months is around 2.52%, less than TAIAX's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASTEX American Funds Short-Term Tax Exempt Bond Fund	2.52%	3.66%	2.53%	1.73%	0.78%	0.68%	1.31%	1.62%	1.44%	1.32%	0.97%	1.03%
TAIAX American Funds Tax-Aware Conservative Growth and Income Portfolio	4.86%	5.18%	5.16%	4.29%	4.37%	3.40%	2.65%	4.01%	4.54%	4.04%	2.77%	3.38%

Frequently Asked Questions

Can I hold both ASTEX and TAIAX in my portfolio?

ASTEX and TAIAX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASTEX or TAIAX?

TAIAX has higher volatility (1.71%) compared to ASTEX (0.39%). In terms of maximum drawdown, ASTEX dropped -5.73% vs TAIAX's -21.42%.

Which has better risk-adjusted returns?

TAIAX currently has the higher Sharpe Ratio (1.89 vs 1.87), 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.