CAPAX vs. INPFX

Last updated Jun 23, 2026

CAPAX (Federated Hermes Capital Income Fund) and INPFX (American Funds Conservative Growth and Income Portfolio Class F-1) are both Diversified Portfolio funds. Over the past 10 years, CAPAX returned 6.30%/yr vs 7.21%/yr for INPFX. Their correlation of 0.86 suggests significant overlap in exposure. CAPAX charges 0.88%/yr vs 0.66%/yr for INPFX.

Performance

CAPAX vs. INPFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Capital Income Fund (CAPAX) and American Funds Conservative Growth and Income Portfolio Class F-1 (INPFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CAPAX having a 4.85% return and INPFX slightly lower at 4.84%. Over the past 10 years, CAPAX has underperformed INPFX with an annualized return of 6.30%, while INPFX has yielded a comparatively higher 7.21% annualized return.

CAPAX

• 1D: 0.31%
• 1M: 1.53%
• YTD: 4.85%
• 6M: 5.23%
• 1Y: 15.07%
• 3Y*: 11.27%
• 5Y*: 5.33%
• 10Y*: 6.30%

INPFX

• 1D: 0.14%
• 1M: 0.61%
• YTD: 4.84%
• 6M: 5.03%
• 1Y: 13.10%
• 3Y*: 11.41%
• 5Y*: 6.66%
• 10Y*: 7.21%

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

CAPAX vs. INPFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAPAX Federated Hermes Capital Income Fund	4.85%	11.88%	10.21%	10.51%	-12.43%	9.72%	9.48%	15.70%	-7.13%	10.05%
INPFX American Funds Conservative Growth and Income Portfolio Class F-1	4.84%	14.29%	9.20%	9.46%	-8.74%	12.90%	5.67%	15.76%	-3.57%	11.43%

Correlation

The correlation between CAPAX and INPFX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 21, 2012	0.86

Over the past year, the correlation between CAPAX and INPFX has dropped to 0.39 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

CAPAX vs. INPFX — Risk / Return Rank

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

CAPAX

CAPAX Risk / Return Rank: 83
CAPAX Sharpe Ratio Rank: 82
CAPAX Sortino Ratio Rank: 85
CAPAX Omega Ratio Rank: 86
CAPAX Calmar Ratio Rank: 75
CAPAX Martin Ratio Rank: 87

INPFX

INPFX Risk / Return Rank: 59
INPFX Sharpe Ratio Rank: 63
INPFX Sortino Ratio Rank: 65
INPFX Omega Ratio Rank: 65
INPFX Calmar Ratio Rank: 48
INPFX Martin Ratio Rank: 56

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.

CAPAX vs. INPFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Capital Income Fund (CAPAX) and American Funds Conservative Growth and Income Portfolio Class F-1 (INPFX). 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.

	CAPAX	INPFX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.14	+0.34
Sortino ratio: Return per unit of downside risk	3.70	3.07	+0.63
Omega ratio: Gain probability vs. loss probability	1.54	1.41	+0.14
Calmar ratio: Return relative to maximum drawdown	3.23	2.53	+0.70
Martin ratio: Return relative to average drawdown	15.24	10.70	+4.54

CAPAX vs. INPFX - Sharpe Ratio Comparison

The current CAPAX Sharpe Ratio is 2.48, which is comparable to the INPFX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of CAPAX and INPFX, 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

CAPAX vs. INPFX - Drawdown Comparison

The maximum CAPAX drawdown since its inception was -46.13%, which is greater than INPFX's maximum drawdown of -21.31%. Use the drawdown chart below to compare losses from any high point for CAPAX and INPFX.

Drawdown Indicators

	CAPAX	INPFX	Difference
Max Drawdown Largest peak-to-trough decline	-46.13%	-21.31%	-24.82%
Max Drawdown (1Y) Largest decline over 1 year	-4.68%	-5.20%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-8.87%	-7.02%	-1.85%
Max Drawdown (5Y) Largest decline over 5 years	-17.75%	-15.37%	-2.38%
Max Drawdown (10Y) Largest decline over 10 years	-23.36%	-21.31%	-2.05%
Current Drawdown Current decline from peak	-0.31%	-0.47%	+0.16%
Average Drawdown Average peak-to-trough decline	-5.79%	-2.29%	-3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.23%	-0.24%

Volatility

CAPAX vs. INPFX - Volatility Comparison

Federated Hermes Capital Income Fund (CAPAX) has a higher volatility of 2.34% compared to American Funds Conservative Growth and Income Portfolio Class F-1 (INPFX) at 2.04%. This indicates that CAPAX's price experiences larger fluctuations and is considered to be riskier than INPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAPAX	INPFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	2.04%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	5.03%	4.93%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	6.11%	6.13%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.85%	7.56%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.67%	8.37%	+0.30%

CAPAX vs. INPFX - Expense Ratio Comparison

CAPAX has a 0.88% expense ratio, which is higher than INPFX's 0.66% expense ratio.

Dividends

CAPAX vs. INPFX - Dividend Comparison

CAPAX's dividend yield for the trailing twelve months is around 3.26%, less than INPFX's 5.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAPAX Federated Hermes Capital Income Fund	3.26%	3.33%	3.24%	3.36%	3.70%	3.31%	3.43%	3.62%	4.42%	3.91%	4.23%	5.54%
INPFX American Funds Conservative Growth and Income Portfolio Class F-1	5.28%	5.61%	5.15%	4.76%	4.84%	4.38%	5.54%	4.53%	4.79%	3.25%	3.53%	3.85%

Frequently Asked Questions

Can I hold both CAPAX and INPFX in my portfolio?

CAPAX and INPFX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAPAX or INPFX?

CAPAX has higher volatility (2.34%) compared to INPFX (2.04%). In terms of maximum drawdown, CAPAX dropped -46.13% vs INPFX's -21.31%.

Which has better risk-adjusted returns?

CAPAX currently has the higher Sharpe Ratio (2.48 vs 2.14), 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.