AVK vs. GIUSX

Last updated Jun 4, 2026

AVK (Advent Convertible and Income Fund) and GIUSX (Guggenheim Core Bond Fund Institutional Class) are both mutual funds - AVK is a Convertible Bonds fund actively managed by Guggenheim, while GIUSX is a Total Bond Market fund managed by Guggenheim. Over the past 10 years, AVK returned 10.68%/yr vs 2.67%/yr for GIUSX. At a 0.07 correlation, their price movements are largely independent. AVK charges 0.75%/yr vs 0.50%/yr for GIUSX.

Performance

AVK vs. GIUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advent Convertible and Income Fund (AVK) and Guggenheim Core Bond Fund Institutional Class (GIUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVK achieves a 8.63% return, which is significantly higher than GIUSX's 0.59% return. Over the past 10 years, AVK has outperformed GIUSX with an annualized return of 10.68%, while GIUSX has yielded a comparatively lower 2.67% annualized return.

AVK

• 1D: -1.59%
• 1M: 4.62%
• YTD: 8.63%
• 6M: 9.57%
• 1Y: 24.77%
• 3Y*: 18.49%
• 5Y*: 5.09%
• 10Y*: 10.68%

GIUSX

• 1D: 0.06%
• 1M: 0.57%
• YTD: 0.59%
• 6M: 0.57%
• 1Y: 6.04%
• 3Y*: 4.96%
• 5Y*: 0.24%
• 10Y*: 2.67%

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

AVK vs. GIUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVK Advent Convertible and Income Fund	8.63%	19.66%	19.42%	18.16%	-34.45%	30.18%	17.62%	36.54%	-13.36%	17.28%
GIUSX Guggenheim Core Bond Fund Institutional Class	0.59%	7.86%	2.91%	7.07%	-16.63%	-0.90%	14.63%	4.47%	1.20%	6.61%

Correlation

The correlation between AVK and GIUSX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.07

The correlation between AVK and GIUSX shifts across timeframes, from 0.07 (all time) to 0.25 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

AVK vs. GIUSX — Risk / Return Rank

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

AVK

AVK Risk / Return Rank: 34
AVK Sharpe Ratio Rank: 37
AVK Sortino Ratio Rank: 33
AVK Omega Ratio Rank: 37
AVK Calmar Ratio Rank: 22
AVK Martin Ratio Rank: 40

GIUSX

GIUSX Risk / Return Rank: 27
GIUSX Sharpe Ratio Rank: 27
GIUSX Sortino Ratio Rank: 29
GIUSX Omega Ratio Rank: 26
GIUSX Calmar Ratio Rank: 29
GIUSX Martin Ratio Rank: 25

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.

AVK vs. GIUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advent Convertible and Income Fund (AVK) and Guggenheim Core Bond Fund Institutional Class (GIUSX). 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.

	AVK	GIUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.48	+0.29
Sortino ratio: Return per unit of downside risk	2.39	2.23	+0.17
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	1.75	2.01	-0.27
Martin ratio: Return relative to average drawdown	8.59	6.18	+2.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVK vs. GIUSX - Sharpe Ratio Comparison

The current AVK Sharpe Ratio is 1.77, which is comparable to the GIUSX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of AVK and GIUSX, 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

	AVK	GIUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.48	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.04	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.56	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.71	-0.39

Drawdowns

AVK vs. GIUSX - Drawdown Comparison

The maximum AVK drawdown since its inception was -67.49%, which is greater than GIUSX's maximum drawdown of -22.02%. Use the drawdown chart below to compare losses from any high point for AVK and GIUSX.

Drawdown Indicators

	AVK	GIUSX	Difference
Max Drawdown Largest peak-to-trough decline	-67.49%	-22.02%	-45.47%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-2.99%	-11.26%
Max Drawdown (3Y) Largest decline over 3 years	-19.98%	-6.10%	-13.88%
Max Drawdown (5Y) Largest decline over 5 years	-38.50%	-22.02%	-16.48%
Max Drawdown (10Y) Largest decline over 10 years	-49.82%	-22.02%	-27.80%
Current Drawdown Current decline from peak	-1.59%	-1.63%	+0.04%
Average Drawdown Average peak-to-trough decline	-11.70%	-4.09%	-7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	0.97%	+1.92%

Volatility

AVK vs. GIUSX - Volatility Comparison

Advent Convertible and Income Fund (AVK) has a higher volatility of 5.46% compared to Guggenheim Core Bond Fund Institutional Class (GIUSX) at 1.50%. This indicates that AVK's price experiences larger fluctuations and is considered to be riskier than GIUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVK	GIUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	1.50%	+3.96%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	2.97%	+8.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	4.07%	+9.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.78%	5.91%	+13.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	4.83%	+17.78%

AVK vs. GIUSX - Expense Ratio Comparison

AVK has a 0.75% expense ratio, which is higher than GIUSX's 0.50% expense ratio.

Dividends

AVK vs. GIUSX - Dividend Comparison

AVK's dividend yield for the trailing twelve months is around 10.82%, more than GIUSX's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVK Advent Convertible and Income Fund	10.82%	11.22%	11.71%	12.36%	12.90%	15.13%	8.51%	9.04%	11.21%	8.10%	7.68%	8.33%
GIUSX Guggenheim Core Bond Fund Institutional Class	4.79%	4.75%	4.68%	4.39%	2.71%	3.36%	4.36%	2.42%	2.76%	3.47%	3.85%	4.96%

Frequently Asked Questions

Can I hold both AVK and GIUSX in my portfolio?

AVK and GIUSX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVK or GIUSX?

AVK has higher volatility (5.46%) compared to GIUSX (1.50%). In terms of maximum drawdown, AVK dropped -67.49% vs GIUSX's -22.02%.

Which has better risk-adjusted returns?

AVK currently has the higher Sharpe Ratio (1.77 vs 1.48), 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.