DIVHX vs. TWEIX

Last updated Jun 4, 2026

DIVHX (Cutler Equity Fund) and TWEIX (American Century Equity Income Fund) are both Large Cap Value Equities funds. Over the past 5 years, DIVHX returned 8.92%/yr vs 6.89%/yr for TWEIX. Their correlation of 0.92 suggests significant overlap in exposure. DIVHX charges 0.99%/yr vs 0.94%/yr for TWEIX.

Performance

DIVHX vs. TWEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cutler Equity Fund (DIVHX) and American Century Equity Income Fund (TWEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVHX achieves a 8.31% return, which is significantly higher than TWEIX's 6.14% return.

DIVHX

• 1D: 0.92%
• 1M: 1.08%
• YTD: 8.31%
• 6M: 7.74%
• 1Y: 18.47%
• 3Y*: 14.95%
• 5Y*: 8.92%
• 10Y*: —

TWEIX

• 1D: 0.56%
• 1M: 0.11%
• YTD: 6.14%
• 6M: 6.61%
• 1Y: 15.26%
• 3Y*: 10.63%
• 5Y*: 6.89%
• 10Y*: 8.65%

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

DIVHX vs. TWEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DIVHX Cutler Equity Fund	8.31%	14.17%	12.48%	7.14%	-3.45%	24.57%	13.73%
TWEIX American Century Equity Income Fund	6.14%	11.84%	10.51%	3.92%	-3.06%	16.83%	11.70%

Correlation

The correlation between DIVHX and TWEIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020	0.92

The correlation between DIVHX and TWEIX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

DIVHX vs. TWEIX — Risk / Return Rank

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

DIVHX

DIVHX Risk / Return Rank: 46
DIVHX Sharpe Ratio Rank: 44
DIVHX Sortino Ratio Rank: 49
DIVHX Omega Ratio Rank: 41
DIVHX Calmar Ratio Rank: 54
DIVHX Martin Ratio Rank: 41

TWEIX

TWEIX Risk / Return Rank: 41
TWEIX Sharpe Ratio Rank: 42
TWEIX Sortino Ratio Rank: 46
TWEIX Omega Ratio Rank: 38
TWEIX Calmar Ratio Rank: 42
TWEIX Martin Ratio Rank: 37

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.

DIVHX vs. TWEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cutler Equity Fund (DIVHX) and American Century Equity Income Fund (TWEIX). 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.

	DIVHX	TWEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.88	+0.07
Sortino ratio: Return per unit of downside risk	2.96	2.84	+0.12
Omega ratio: Gain probability vs. loss probability	1.34	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	2.81	2.45	+0.37
Martin ratio: Return relative to average drawdown	8.74	8.07	+0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVHX vs. TWEIX - Sharpe Ratio Comparison

The current DIVHX Sharpe Ratio is 1.95, which is comparable to the TWEIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of DIVHX and TWEIX, 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

	DIVHX	TWEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.88	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.65	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.75	+0.24

Drawdowns

DIVHX vs. TWEIX - Drawdown Comparison

The maximum DIVHX drawdown since its inception was -17.60%, smaller than the maximum TWEIX drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for DIVHX and TWEIX.

Drawdown Indicators

	DIVHX	TWEIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-39.30%	+21.70%
Max Drawdown (1Y) Largest decline over 1 year	-6.81%	-6.43%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-14.22%	-10.16%	-4.06%
Max Drawdown (5Y) Largest decline over 5 years	-17.60%	-13.69%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.82%	—
Current Drawdown Current decline from peak	-2.48%	-2.51%	+0.03%
Average Drawdown Average peak-to-trough decline	-3.56%	-4.16%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.95%	+0.24%

Volatility

DIVHX vs. TWEIX - Volatility Comparison

Cutler Equity Fund (DIVHX) has a higher volatility of 2.50% compared to American Century Equity Income Fund (TWEIX) at 2.20%. This indicates that DIVHX's price experiences larger fluctuations and is considered to be riskier than TWEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVHX	TWEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	2.20%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	6.23%	+1.59%
Volatility (1Y) Calculated over the trailing 1-year period	9.83%	8.37%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.66%	10.74%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.71%	13.36%	+0.35%

DIVHX vs. TWEIX - Expense Ratio Comparison

DIVHX has a 0.99% expense ratio, which is higher than TWEIX's 0.94% expense ratio.

Dividends

DIVHX vs. TWEIX - Dividend Comparison

DIVHX's dividend yield for the trailing twelve months is around 5.18%, less than TWEIX's 9.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVHX Cutler Equity Fund	5.18%	5.37%	5.81%	7.26%	1.40%	8.01%	4.62%	0.00%	0.00%	0.00%	0.00%	0.00%
TWEIX American Century Equity Income Fund	9.77%	10.35%	11.51%	8.02%	8.76%	6.83%	2.00%	7.38%	8.79%	11.95%	7.88%	10.49%

Frequently Asked Questions

Can I hold both DIVHX and TWEIX in my portfolio?

DIVHX and TWEIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVHX or TWEIX?

DIVHX has higher volatility (2.50%) compared to TWEIX (2.20%). In terms of maximum drawdown, DIVHX dropped -17.60% vs TWEIX's -39.30%.

Which has better risk-adjusted returns?

DIVHX currently has the higher Sharpe Ratio (1.95 vs 1.88), 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.