CBAPK.AX vs. AFI.AX

Last updated Jun 5, 2026

CBAPK.AX (Commonwealth Bank of Australia) and AFI.AX (Australian Foundation Investment Company Limited) are both stocks. Both are in the Financial Services sector — CBAPK.AX in Banks - Diversified, AFI.AX in Asset Management. Over the past 3 years, CBAPK.AX returned 6.35%/yr vs 1.35%/yr for AFI.AX. At a 0.05 correlation, their price movements are largely independent.

Performance

CBAPK.AX vs. AFI.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Commonwealth Bank of Australia (CBAPK.AX) and Australian Foundation Investment Company Limited (AFI.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBAPK.AX achieves a 0.64% return, which is significantly higher than AFI.AX's -7.72% return.

CBAPK.AX

• 1D: -0.09%
• 1M: 1.02%
• YTD: 0.64%
• 6M: 2.36%
• 1Y: 4.37%
• 3Y*: 6.35%
• 5Y*: —
• 10Y*: —

AFI.AX

• 1D: -0.31%
• 1M: -1.96%
• YTD: -7.72%
• 6M: -6.68%
• 1Y: -7.23%
• 3Y*: 1.35%
• 5Y*: 0.81%
• 10Y*: 5.66%

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

CBAPK.AX vs. AFI.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CBAPK.AX Commonwealth Bank of Australia	0.64%	5.54%	7.82%	3.05%	3.54%
AFI.AX Australian Foundation Investment Company Limited	-7.72%	1.19%	3.02%	3.34%	-5.92%

Correlation

The correlation between CBAPK.AX and AFI.AX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022	0.05

Return for Risk

CBAPK.AX vs. AFI.AX — Risk / Return Rank

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

CBAPK.AX

CBAPK.AX Risk / Return Rank: 68
CBAPK.AX Sharpe Ratio Rank: 70
CBAPK.AX Sortino Ratio Rank: 63
CBAPK.AX Omega Ratio Rank: 60
CBAPK.AX Calmar Ratio Rank: 73
CBAPK.AX Martin Ratio Rank: 72

AFI.AX

AFI.AX Risk / Return Rank: 14
AFI.AX Sharpe Ratio Rank: 12
AFI.AX Sortino Ratio Rank: 12
AFI.AX Omega Ratio Rank: 14
AFI.AX Calmar Ratio Rank: 19
AFI.AX Martin Ratio Rank: 11

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.

CBAPK.AX vs. AFI.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commonwealth Bank of Australia (CBAPK.AX) and Australian Foundation Investment Company Limited (AFI.AX). 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.

	CBAPK.AX	AFI.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	-0.71	+1.64
Sortino ratio: Return per unit of downside risk	1.41	-0.96	+2.38
Omega ratio: Gain probability vs. loss probability	1.17	0.89	+0.27
Calmar ratio: Return relative to maximum drawdown	1.87	-0.64	+2.51
Martin ratio: Return relative to average drawdown	4.14	-1.30	+5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBAPK.AX vs. AFI.AX - Sharpe Ratio Comparison

The current CBAPK.AX Sharpe Ratio is 0.93, which is higher than the AFI.AX Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of CBAPK.AX and AFI.AX, 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

	CBAPK.AX	AFI.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	-0.71	+1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.08	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.46	+0.48

Drawdowns

CBAPK.AX vs. AFI.AX - Drawdown Comparison

The maximum CBAPK.AX drawdown since its inception was -5.58%, smaller than the maximum AFI.AX drawdown of -41.20%. Use the drawdown chart below to compare losses from any high point for CBAPK.AX and AFI.AX.

Drawdown Indicators

	CBAPK.AX	AFI.AX	Difference
Max Drawdown Largest peak-to-trough decline	-5.58%	-41.20%	+35.62%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-11.88%	+9.24%
Max Drawdown (3Y) Largest decline over 3 years	-3.03%	-11.88%	+8.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.05%	—
Current Drawdown Current decline from peak	-1.24%	-11.47%	+10.23%
Average Drawdown Average peak-to-trough decline	-1.01%	-8.05%	+7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	5.81%	-4.62%

Volatility

CBAPK.AX vs. AFI.AX - Volatility Comparison

The current volatility for Commonwealth Bank of Australia (CBAPK.AX) is 0.70%, while Australian Foundation Investment Company Limited (AFI.AX) has a volatility of 3.30%. This indicates that CBAPK.AX experiences smaller price fluctuations and is considered to be less risky than AFI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBAPK.AX	AFI.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	3.30%	-2.60%
Volatility (6M) Calculated over the trailing 6-month period	4.08%	8.25%	-4.17%
Volatility (1Y) Calculated over the trailing 1-year period	5.33%	10.77%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.26%	10.67%	-5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.26%	11.54%	-6.28%

Dividends

CBAPK.AX vs. AFI.AX - Dividend Comparison

CBAPK.AX's dividend yield for the trailing twelve months is around 5.65%, more than AFI.AX's 5.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFI.AX Australian Foundation Investment Company Limited	5.23%	4.38%	3.51%	3.36%	5.90%	2.84%	3.29%	4.50%	4.00%	3.85%	4.17%	3.87%
CBAPK.AX Commonwealth Bank of Australia	4.47%	4.51%	4.83%	4.55%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both CBAPK.AX and AFI.AX in my portfolio?

CBAPK.AX and AFI.AX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.