CENAX vs. ANCFX

Last updated Jun 6, 2026

CENAX (American Funds College Enrollment Fund) and ANCFX (American Funds Fundamental Investors Class A) are both mutual funds - CENAX is a Short-Term Bond fund managed by American Funds, while ANCFX is a Large Cap Blend Equities fund managed by American Funds. Over the past 10 years, CENAX returned 2.48%/yr vs 14.72%/yr for ANCFX. At a 0.06 correlation, their price movements are largely independent. CENAX charges 0.67%/yr vs 0.59%/yr for ANCFX.

Performance

CENAX vs. ANCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds College Enrollment Fund (CENAX) and American Funds Fundamental Investors Class A (ANCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CENAX achieves a 1.15% return, which is significantly lower than ANCFX's 14.05% return. Over the past 10 years, CENAX has underperformed ANCFX with an annualized return of 2.48%, while ANCFX has yielded a comparatively higher 14.72% annualized return.

CENAX

• 1D: 0.10%
• 1M: 0.10%
• YTD: 1.15%
• 6M: 1.58%
• 1Y: 5.74%
• 3Y*: 5.61%
• 5Y*: 2.88%
• 10Y*: 2.48%

ANCFX

• 1D: -0.26%
• 1M: 2.06%
• YTD: 14.05%
• 6M: 14.73%
• 1Y: 32.87%
• 3Y*: 25.86%
• 5Y*: 14.51%
• 10Y*: 14.72%

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

CENAX vs. ANCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CENAX American Funds College Enrollment Fund	1.15%	7.71%	4.68%	4.88%	-3.56%	-0.68%	5.94%	3.98%	0.79%	0.92%
ANCFX American Funds Fundamental Investors Class A	14.05%	24.21%	22.73%	25.86%	-16.66%	22.43%	14.92%	27.07%	-8.13%	22.80%

Correlation

The correlation between CENAX and ANCFX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.06

Over the past year, CENAX and ANCFX have become more correlated (0.53) than their long-term average of 0.06, meaning their price movements have been converging.

Return for Risk

CENAX vs. ANCFX — Risk / Return Rank

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

CENAX

CENAX Risk / Return Rank: 54
CENAX Sharpe Ratio Rank: 56
CENAX Sortino Ratio Rank: 63
CENAX Omega Ratio Rank: 63
CENAX Calmar Ratio Rank: 44
CENAX Martin Ratio Rank: 47

ANCFX

ANCFX Risk / Return Rank: 71
ANCFX Sharpe Ratio Rank: 72
ANCFX Sortino Ratio Rank: 64
ANCFX Omega Ratio Rank: 65
ANCFX Calmar Ratio Rank: 70
ANCFX Martin Ratio Rank: 80

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.

CENAX vs. ANCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds College Enrollment Fund (CENAX) and American Funds Fundamental Investors Class A (ANCFX). 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.

	CENAX	ANCFX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.41	-0.27
Sortino ratio: Return per unit of downside risk	3.22	3.26	-0.04
Omega ratio: Gain probability vs. loss probability	1.43	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	2.45	3.11	-0.66
Martin ratio: Return relative to average drawdown	9.46	14.38	-4.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CENAX vs. ANCFX - Sharpe Ratio Comparison

The current CENAX Sharpe Ratio is 2.14, which is comparable to the ANCFX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of CENAX and ANCFX, 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

	CENAX	ANCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.41	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.87	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.83	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.64	+0.09

Drawdowns

CENAX vs. ANCFX - Drawdown Comparison

The maximum CENAX drawdown since its inception was -10.48%, smaller than the maximum ANCFX drawdown of -53.29%. Use the drawdown chart below to compare losses from any high point for CENAX and ANCFX.

Drawdown Indicators

	CENAX	ANCFX	Difference
Max Drawdown Largest peak-to-trough decline	-10.48%	-53.29%	+42.81%
Max Drawdown (1Y) Largest decline over 1 year	-2.26%	-10.66%	+8.40%
Max Drawdown (3Y) Largest decline over 3 years	-2.61%	-17.97%	+15.36%
Max Drawdown (5Y) Largest decline over 5 years	-10.31%	-25.07%	+14.76%
Max Drawdown (10Y) Largest decline over 10 years	-10.48%	-33.93%	+23.45%
Current Drawdown Current decline from peak	-0.31%	-0.95%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.11%	-7.32%	+6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	2.30%	-1.71%

Volatility

CENAX vs. ANCFX - Volatility Comparison

The current volatility for American Funds College Enrollment Fund (CENAX) is 1.02%, while American Funds Fundamental Investors Class A (ANCFX) has a volatility of 3.78%. This indicates that CENAX experiences smaller price fluctuations and is considered to be less risky than ANCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CENAX	ANCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	3.78%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	1.98%	10.80%	-8.82%
Volatility (1Y) Calculated over the trailing 1-year period	2.61%	13.76%	-11.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.00%	16.79%	-12.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.10%	17.72%	-14.62%

CENAX vs. ANCFX - Expense Ratio Comparison

CENAX has a 0.67% expense ratio, which is higher than ANCFX's 0.59% expense ratio.

Dividends

CENAX vs. ANCFX - Dividend Comparison

CENAX's dividend yield for the trailing twelve months is around 3.84%, less than ANCFX's 7.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANCFX American Funds Fundamental Investors Class A	7.50%	8.54%	8.90%	5.80%	4.98%	10.97%	2.61%	6.91%	9.31%	7.28%	4.71%	6.08%
CENAX American Funds College Enrollment Fund	3.84%	3.88%	3.43%	3.59%	5.98%	1.12%	3.42%	2.29%	1.41%	1.43%	1.60%	1.12%

Frequently Asked Questions

Can I hold both CENAX and ANCFX in my portfolio?

CENAX and ANCFX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CENAX or ANCFX?

ANCFX has higher volatility (3.78%) compared to CENAX (1.02%). In terms of maximum drawdown, CENAX dropped -10.48% vs ANCFX's -53.29%.

Which has better risk-adjusted returns?

ANCFX currently has the higher Sharpe Ratio (2.41 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.