CGFAX vs. AFTFX
CGFAX (American Funds The Growth Fund of America Class 529-A) and AFTFX (American Funds Tax-Exempt Bond Fund of America Class F-1) are both mutual funds - CGFAX is a Large Cap Growth Equities fund actively managed by Capital Group, while AFTFX is a Municipal Bonds fund actively managed by Capital Group. Both are actively managed. Over the past 10 years, CGFAX returned 14.97%/yr vs 1.85%/yr for AFTFX. Their -0.09 correlation means they have often moved in opposite directions in the past. CGFAX charges 0.62%/yr vs 0.63%/yr for AFTFX.
Performance
CGFAX vs. AFTFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CGFAX achieves a 4.27% return, which is significantly higher than AFTFX's 0.49% return. Over the past 10 years, CGFAX has outperformed AFTFX with an annualized return of 14.97%, while AFTFX has yielded a comparatively lower 1.85% annualized return.
CGFAX
- 1D
- -0.38%
- 1M
- -2.33%
- 6M
- 2.17%
- YTD
- 4.27%
- 1Y
- 10.07%
- 3Y*
- 19.69%
- 5Y*
- 9.95%
- 10Y*
- 14.97%
- ALL TIME*
- 10.57%
AFTFX
- 1D
- 0.32%
- 1M
- -1.35%
- 6M
- 0.25%
- YTD
- 0.49%
- 1Y
- 5.84%
- 3Y*
- 3.39%
- 5Y*
- 0.53%
- 10Y*
- 1.85%
- ALL TIME*
- 3.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CGFAX vs. AFTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGFAX American Funds The Growth Fund of America Class 529-A | 4.27% | 19.69% | 27.99% | 37.14% | -30.76% | 19.26% | 37.81% | 28.09% | -3.25% | 26.06% |
AFTFX American Funds Tax-Exempt Bond Fund of America Class F-1 | 0.49% | 3.77% | 2.22% | 6.41% | -9.23% | 1.96% | 4.64% | 7.09% | 0.66% | 5.43% |
Correlation
The correlation between CGFAX and AFTFX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2002 | -0.09 |
The correlation between CGFAX and AFTFX shifts across timeframes, from -0.09 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CGFAX vs. AFTFX — Risk / Return Rank
CGFAX
AFTFX
CGFAX vs. AFTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds The Growth Fund of America Class 529-A (CGFAX) and American Funds Tax-Exempt Bond Fund of America Class F-1 (AFTFX). 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.
| CGFAX | AFTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.52 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 2.13 | -1.39 |
| Martin ratioReturn relative to average drawdown | 2.75 | 7.29 | -4.55 |
Loading charts...
Drawdowns
CGFAX vs. AFTFX - Drawdown Comparison
The maximum CGFAX drawdown since its inception was -51.91%, which is greater than AFTFX's maximum drawdown of -13.99%. Use the drawdown chart below to compare losses from any high point for CGFAX and AFTFX.
Loading charts...
Drawdown Indicators
| CGFAX | AFTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.91% | -13.99% | -37.92% |
Max Drawdown (1Y)Largest decline over 1 year | -13.77% | -2.76% | -11.01% |
Max Drawdown (3Y)Largest decline over 3 years | -21.58% | -5.07% | -16.51% |
Max Drawdown (5Y)Largest decline over 5 years | -36.39% | -13.99% | -22.40% |
Max Drawdown (10Y)Largest decline over 10 years | -36.39% | -13.99% | -22.40% |
Current DrawdownCurrent decline from peak | -5.58% | -1.67% | -3.91% |
Average DrawdownAverage peak-to-trough decline | -8.57% | -1.85% | -6.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 0.80% | +2.92% |
Volatility
CGFAX vs. AFTFX - Volatility Comparison
American Funds The Growth Fund of America Class 529-A (CGFAX) has a higher volatility of 4.47% compared to American Funds Tax-Exempt Bond Fund of America Class F-1 (AFTFX) at 0.94%. This indicates that CGFAX's price experiences larger fluctuations and is considered to be riskier than AFTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CGFAX | AFTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 0.94% | +3.53% |
Volatility (6M)Calculated over the trailing 6-month period | 13.38% | 2.16% | +11.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.76% | 2.68% | +14.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.54% | 3.77% | +16.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.78% | 3.78% | +16.00% |
CGFAX vs. AFTFX - Expense Ratio Comparison
CGFAX has a 0.62% expense ratio, which is lower than AFTFX's 0.63% expense ratio.
Dividends
CGFAX vs. AFTFX - Dividend Comparison
CGFAX's dividend yield for the trailing twelve months is around 10.44%, more than AFTFX's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFTFX American Funds Tax-Exempt Bond Fund of America Class F-1 | 2.98% | 2.92% | 2.84% | 2.62% | 2.25% | 2.39% | 2.34% | 2.52% | 2.75% | 2.93% | 3.02% | 3.10% |
CGFAX American Funds The Growth Fund of America Class 529-A | 10.44% | 10.88% | 9.12% | 7.48% | 4.09% | 8.26% | 4.34% | 7.18% | 12.03% | 7.07% | 6.60% | 8.86% |
Frequently Asked Questions
CGFAX and AFTFX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CGFAX has higher volatility (4.47%) compared to AFTFX (0.94%). In terms of maximum drawdown, CGFAX dropped -51.91% vs AFTFX's -13.99%.
AFTFX currently has the higher Sharpe Ratio (2.20 vs 0.61), 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.
Find the right allocation for CGFAX and AFTFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer