CRAIX vs. MBDFX

Last updated Jun 6, 2026

CRAIX (CCM Community Impact Bond Fund) and MBDFX (AMG GW&K Core Bond ESG Fund) are both Intermediate Core Bond funds. Over the past 10 years, CRAIX returned 1.02%/yr vs 1.28%/yr for MBDFX. Their correlation of 0.83 suggests significant overlap in exposure. CRAIX charges 0.88%/yr vs 0.56%/yr for MBDFX.

Performance

CRAIX vs. MBDFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CCM Community Impact Bond Fund (CRAIX) and AMG GW&K Core Bond ESG Fund (MBDFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRAIX achieves a 0.25% return, which is significantly higher than MBDFX's -0.05% return. Over the past 10 years, CRAIX has underperformed MBDFX with an annualized return of 1.02%, while MBDFX has yielded a comparatively higher 1.28% annualized return.

CRAIX

• 1D: 0.10%
• 1M: -0.16%
• YTD: 0.25%
• 6M: 0.61%
• 1Y: 4.88%
• 3Y*: 3.66%
• 5Y*: 0.11%
• 10Y*: 1.02%

MBDFX

• 1D: 0.22%
• 1M: 0.11%
• YTD: -0.05%
• 6M: 0.16%
• 1Y: 5.13%
• 3Y*: 3.84%
• 5Y*: -0.51%
• 10Y*: 1.28%

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

CRAIX vs. MBDFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRAIX CCM Community Impact Bond Fund	0.25%	6.40%	1.97%	3.98%	-10.19%	-1.72%	3.99%	5.44%	0.10%	2.81%
MBDFX AMG GW&K Core Bond ESG Fund	-0.05%	7.29%	1.24%	5.73%	-13.85%	-3.34%	7.33%	9.70%	-1.11%	3.88%

Correlation

The correlation between CRAIX and MBDFX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Aug 31, 1999	0.83

The correlation between CRAIX and MBDFX shifts across timeframes, from 0.83 (all time) to 0.93 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CRAIX vs. MBDFX — Risk / Return Rank

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

CRAIX

CRAIX Risk / Return Rank: 29
CRAIX Sharpe Ratio Rank: 28
CRAIX Sortino Ratio Rank: 30
CRAIX Omega Ratio Rank: 28
CRAIX Calmar Ratio Rank: 30
CRAIX Martin Ratio Rank: 27

MBDFX

MBDFX Risk / Return Rank: 17
MBDFX Sharpe Ratio Rank: 18
MBDFX Sortino Ratio Rank: 18
MBDFX Omega Ratio Rank: 17
MBDFX Calmar Ratio Rank: 17
MBDFX Martin Ratio Rank: 15

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.

CRAIX vs. MBDFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CCM Community Impact Bond Fund (CRAIX) and AMG GW&K Core Bond ESG Fund (MBDFX). 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.

	CRAIX	MBDFX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.16	+0.28
Sortino ratio: Return per unit of downside risk	2.17	1.69	+0.47
Omega ratio: Gain probability vs. loss probability	1.27	1.21	+0.06
Calmar ratio: Return relative to maximum drawdown	1.97	1.37	+0.59
Martin ratio: Return relative to average drawdown	6.21	3.94	+2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRAIX vs. MBDFX - Sharpe Ratio Comparison

The current CRAIX Sharpe Ratio is 1.44, which is comparable to the MBDFX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of CRAIX and MBDFX, 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

	CRAIX	MBDFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.16	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	-0.08	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.25	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.48	+0.08

Drawdowns

CRAIX vs. MBDFX - Drawdown Comparison

The maximum CRAIX drawdown since its inception was -14.53%, smaller than the maximum MBDFX drawdown of -20.66%. Use the drawdown chart below to compare losses from any high point for CRAIX and MBDFX.

Drawdown Indicators

	CRAIX	MBDFX	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-20.66%	+6.13%
Max Drawdown (1Y) Largest decline over 1 year	-2.15%	-3.25%	+1.10%
Max Drawdown (3Y) Largest decline over 3 years	-4.84%	-6.99%	+2.15%
Max Drawdown (5Y) Largest decline over 5 years	-14.28%	-20.54%	+6.26%
Max Drawdown (10Y) Largest decline over 10 years	-14.53%	-20.66%	+6.13%
Current Drawdown Current decline from peak	-1.28%	-4.51%	+3.23%
Average Drawdown Average peak-to-trough decline	-2.46%	-3.96%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	1.13%	-0.45%

Volatility

CRAIX vs. MBDFX - Volatility Comparison

The current volatility for CCM Community Impact Bond Fund (CRAIX) is 1.03%, while AMG GW&K Core Bond ESG Fund (MBDFX) has a volatility of 1.32%. This indicates that CRAIX experiences smaller price fluctuations and is considered to be less risky than MBDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRAIX	MBDFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	1.32%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	2.12%	2.77%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	2.96%	3.88%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	6.15%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	5.05%	-1.41%

CRAIX vs. MBDFX - Expense Ratio Comparison

CRAIX has a 0.88% expense ratio, which is higher than MBDFX's 0.56% expense ratio.

Dividends

CRAIX vs. MBDFX - Dividend Comparison

CRAIX's dividend yield for the trailing twelve months is around 3.10%, less than MBDFX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRAIX CCM Community Impact Bond Fund	3.10%	3.01%	2.92%	2.48%	1.61%	1.18%	1.77%	2.32%	2.30%	2.78%	2.28%	2.12%
MBDFX AMG GW&K Core Bond ESG Fund	3.47%	3.66%	3.50%	2.92%	2.16%	2.35%	1.84%	2.40%	2.30%	2.10%	2.06%	4.17%

Frequently Asked Questions

Can I hold both CRAIX and MBDFX in my portfolio?

With a correlation of 0.91, CRAIX and MBDFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CRAIX or MBDFX?

MBDFX has higher volatility (1.32%) compared to CRAIX (1.03%). In terms of maximum drawdown, CRAIX dropped -14.53% vs MBDFX's -20.66%.

Which has better risk-adjusted returns?

CRAIX currently has the higher Sharpe Ratio (1.44 vs 1.16), 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.