EBSIX vs. AHTPX

Last updated Jun 23, 2026

EBSIX (Campbell Systematic Macro Fund Class I Shares) and AHTPX (American Beacon AHL TargetRisk Fund) are both mutual funds - EBSIX is a Macro Trading fund managed by Campbell & Company, while AHTPX is a Tactical Allocation fund managed by American Beacon. Over the past 5 years, EBSIX returned 9.26%/yr vs 5.30%/yr for AHTPX. At a 0.06 correlation, their price movements are largely independent. EBSIX charges 1.75%/yr vs 1.41%/yr for AHTPX.

Performance

EBSIX vs. AHTPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Campbell Systematic Macro Fund Class I Shares (EBSIX) and American Beacon AHL TargetRisk Fund (AHTPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EBSIX having a 8.76% return and AHTPX slightly higher at 8.90%.

EBSIX

• 1D: -0.10%
• 1M: -0.49%
• YTD: 8.76%
• 6M: 9.23%
• 1Y: 6.65%
• 3Y*: 4.23%
• 5Y*: 9.26%
• 10Y*: —

AHTPX

• 1D: 0.35%
• 1M: 1.31%
• YTD: 8.90%
• 6M: 9.63%
• 1Y: 21.54%
• 3Y*: 9.68%
• 5Y*: 5.30%
• 10Y*: —

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

EBSIX vs. AHTPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EBSIX Campbell Systematic Macro Fund Class I Shares	8.76%	-1.14%	11.63%	-1.83%	30.91%	9.05%	4.94%
AHTPX American Beacon AHL TargetRisk Fund	8.90%	7.76%	6.73%	13.48%	-16.81%	13.63%	4.49%

Correlation

The correlation between EBSIX and AHTPX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020	0.06

Over the past year, EBSIX and AHTPX have become more correlated (0.40) than their long-term average of 0.06, meaning their price movements have been converging.

Return for Risk

EBSIX vs. AHTPX — Risk / Return Rank

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

EBSIX

EBSIX Risk / Return Rank: 9
EBSIX Sharpe Ratio Rank: 9
EBSIX Sortino Ratio Rank: 9
EBSIX Omega Ratio Rank: 9
EBSIX Calmar Ratio Rank: 11
EBSIX Martin Ratio Rank: 9

AHTPX

AHTPX Risk / Return Rank: 63
AHTPX Sharpe Ratio Rank: 72
AHTPX Sortino Ratio Rank: 68
AHTPX Omega Ratio Rank: 71
AHTPX Calmar Ratio Rank: 64
AHTPX Martin Ratio Rank: 39

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.

EBSIX vs. AHTPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Campbell Systematic Macro Fund Class I Shares (EBSIX) and American Beacon AHL TargetRisk Fund (AHTPX). 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.

	EBSIX	AHTPX	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.26	-1.53
Sortino ratio: Return per unit of downside risk	1.10	3.13	-2.02
Omega ratio: Gain probability vs. loss probability	1.13	1.43	-0.30
Calmar ratio: Return relative to maximum drawdown	1.01	2.93	-1.92
Martin ratio: Return relative to average drawdown	2.34	7.97	-5.63

EBSIX vs. AHTPX - Sharpe Ratio Comparison

The current EBSIX Sharpe Ratio is 0.73, which is lower than the AHTPX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of EBSIX and AHTPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EBSIX vs. AHTPX - Drawdown Comparison

The maximum EBSIX drawdown since its inception was -10.96%, smaller than the maximum AHTPX drawdown of -19.23%. Use the drawdown chart below to compare losses from any high point for EBSIX and AHTPX.

Drawdown Indicators

	EBSIX	AHTPX	Difference
Max Drawdown Largest peak-to-trough decline	-10.96%	-19.23%	+8.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.88%	-7.26%	+1.38%
Max Drawdown (3Y) Largest decline over 3 years	-10.26%	-12.89%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-10.96%	-19.23%	+8.27%
Current Drawdown Current decline from peak	-1.74%	-1.86%	+0.12%
Average Drawdown Average peak-to-trough decline	-3.04%	-5.64%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.66%	-0.13%

Volatility

EBSIX vs. AHTPX - Volatility Comparison

The current volatility for Campbell Systematic Macro Fund Class I Shares (EBSIX) is 2.10%, while American Beacon AHL TargetRisk Fund (AHTPX) has a volatility of 2.23%. This indicates that EBSIX experiences smaller price fluctuations and is considered to be less risky than AHTPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBSIX	AHTPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	2.23%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	5.95%	6.83%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	8.09%	9.40%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.52%	9.65%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.44%	8.94%	+0.50%

EBSIX vs. AHTPX - Expense Ratio Comparison

EBSIX has a 1.75% expense ratio, which is higher than AHTPX's 1.41% expense ratio.

Dividends

EBSIX vs. AHTPX - Dividend Comparison

EBSIX's dividend yield for the trailing twelve months is around 2.90%, less than AHTPX's 7.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AHTPX American Beacon AHL TargetRisk Fund	7.33%	7.98%	4.80%	3.63%	5.07%	18.73%	0.54%	4.51%
EBSIX Campbell Systematic Macro Fund Class I Shares	2.90%	3.16%	2.90%	1.82%	15.10%	7.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EBSIX and AHTPX in my portfolio?

EBSIX and AHTPX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBSIX or AHTPX?

AHTPX has higher volatility (2.23%) compared to EBSIX (2.10%). In terms of maximum drawdown, EBSIX dropped -10.96% vs AHTPX's -19.23%.

Which has better risk-adjusted returns?

AHTPX currently has the higher Sharpe Ratio (2.26 vs 0.73), 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.