FAX vs. CGFIX

Last updated Jun 4, 2026

FAX (abrdn Asia-Pacific Income Fund Inc) and CGFIX (abrdn Global Absolute Return Strategies Fund) are both mutual funds - FAX is a Emerging Markets Bonds fund managed by Aberdeen, while CGFIX is a Macro Trading fund managed by Aberdeen. Over the past 10 years, FAX returned 2.90%/yr vs 1.89%/yr for CGFIX. At a 0.14 correlation, their price movements are largely independent. FAX charges 3.33%/yr vs 0.78%/yr for CGFIX.

Performance

FAX vs. CGFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Asia-Pacific Income Fund Inc (FAX) and abrdn Global Absolute Return Strategies Fund (CGFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAX achieves a -0.83% return, which is significantly lower than CGFIX's 1.38% return. Over the past 10 years, FAX has outperformed CGFIX with an annualized return of 2.90%, while CGFIX has yielded a comparatively lower 1.89% annualized return.

FAX

• 1D: -1.57%
• 1M: -2.13%
• YTD: -0.83%
• 6M: 0.63%
• 1Y: 4.31%
• 3Y*: 9.41%
• 5Y*: -0.03%
• 10Y*: 2.90%

CGFIX

• 1D: 0.12%
• 1M: 0.81%
• YTD: 1.38%
• 6M: 1.22%
• 1Y: 6.65%
• 3Y*: 4.66%
• 5Y*: 0.31%
• 10Y*: 1.89%

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

FAX vs. CGFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAX abrdn Asia-Pacific Income Fund Inc	-0.83%	18.23%	2.31%	16.53%	-22.83%	-7.20%	14.08%	19.48%	-12.72%	14.65%
CGFIX abrdn Global Absolute Return Strategies Fund	1.38%	5.79%	4.85%	-2.54%	-9.99%	1.39%	6.37%	7.26%	0.97%	1.62%

Correlation

The correlation between FAX and CGFIX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Nov 1, 1990	0.14

The correlation between FAX and CGFIX shifts across timeframes, from 0.12 (10 years) to 0.28 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FAX vs. CGFIX — Risk / Return Rank

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

FAX

FAX Risk / Return Rank: 5
FAX Sharpe Ratio Rank: 5
FAX Sortino Ratio Rank: 4
FAX Omega Ratio Rank: 5
FAX Calmar Ratio Rank: 5
FAX Martin Ratio Rank: 4

CGFIX

CGFIX Risk / Return Rank: 50
CGFIX Sharpe Ratio Rank: 54
CGFIX Sortino Ratio Rank: 55
CGFIX Omega Ratio Rank: 57
CGFIX Calmar Ratio Rank: 42
CGFIX Martin Ratio Rank: 41

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.

FAX vs. CGFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Asia-Pacific Income Fund Inc (FAX) and abrdn Global Absolute Return Strategies Fund (CGFIX). 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.

	FAX	CGFIX	Difference
Sharpe ratio: Return per unit of total volatility	0.35	2.17	-1.82
Sortino ratio: Return per unit of downside risk	0.56	3.12	-2.57
Omega ratio: Gain probability vs. loss probability	1.07	1.42	-0.35
Calmar ratio: Return relative to maximum drawdown	0.39	2.45	-2.06
Martin ratio: Return relative to average drawdown	0.88	8.82	-7.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAX vs. CGFIX - Sharpe Ratio Comparison

The current FAX Sharpe Ratio is 0.35, which is lower than the CGFIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FAX and CGFIX, 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

	FAX	CGFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	2.17	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	0.05	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.40	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.90	-0.73

Drawdowns

FAX vs. CGFIX - Drawdown Comparison

The maximum FAX drawdown since its inception was -63.96%, which is greater than CGFIX's maximum drawdown of -20.28%. Use the drawdown chart below to compare losses from any high point for FAX and CGFIX.

Drawdown Indicators

	FAX	CGFIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.96%	-20.28%	-43.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-2.78%	-8.36%
Max Drawdown (3Y) Largest decline over 3 years	-13.17%	-7.09%	-6.08%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-20.28%	-20.21%
Max Drawdown (10Y) Largest decline over 10 years	-40.57%	-20.28%	-20.29%
Current Drawdown Current decline from peak	-7.99%	-1.64%	-6.35%
Average Drawdown Average peak-to-trough decline	-17.85%	-3.19%	-14.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	0.77%	+4.11%

Volatility

FAX vs. CGFIX - Volatility Comparison

abrdn Asia-Pacific Income Fund Inc (FAX) has a higher volatility of 5.36% compared to abrdn Global Absolute Return Strategies Fund (CGFIX) at 1.11%. This indicates that FAX's price experiences larger fluctuations and is considered to be riskier than CGFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAX	CGFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	1.11%	+4.25%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	2.33%	+7.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	3.14%	+9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	5.76%	+10.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	4.71%	+11.80%

FAX vs. CGFIX - Expense Ratio Comparison

FAX has a 3.33% expense ratio, which is higher than CGFIX's 0.78% expense ratio.

Dividends

FAX vs. CGFIX - Dividend Comparison

FAX's dividend yield for the trailing twelve months is around 13.74%, more than CGFIX's 6.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGFIX abrdn Global Absolute Return Strategies Fund	6.15%	5.51%	6.43%	2.08%	0.00%	7.49%	0.23%	3.29%	6.05%	0.33%	1.12%	0.35%
FAX abrdn Asia-Pacific Income Fund Inc	13.74%	12.91%	13.45%	12.18%	12.55%	8.64%	7.42%	8.29%	10.85%	8.61%	9.07%	9.19%

Frequently Asked Questions

Can I hold both FAX and CGFIX in my portfolio?

FAX and CGFIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAX or CGFIX?

FAX has higher volatility (5.36%) compared to CGFIX (1.11%). In terms of maximum drawdown, FAX dropped -63.96% vs CGFIX's -20.28%.

Which has better risk-adjusted returns?

CGFIX currently has the higher Sharpe Ratio (2.17 vs 0.35), 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.