FMACX vs. GFFFX

Last updated Jun 26, 2026

FMACX (American Funds AMCAP Fund® Class F-3) and GFFFX (American Funds The Growth Fund of America Class F-2) are both Large Cap Growth Equities funds from American Funds. Over the past 5 years, FMACX returned 8.58%/yr vs 11.06%/yr for GFFFX. With a 0.97 correlation, they move nearly in lockstep. FMACX charges 0.34%/yr vs 0.40%/yr for GFFFX.

Performance

FMACX vs. GFFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds AMCAP Fund® Class F-3 (FMACX) and American Funds The Growth Fund of America Class F-2 (GFFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMACX achieves a 3.57% return, which is significantly lower than GFFFX's 6.70% return.

FMACX

• 1D: 0.49%
• 1M: -1.38%
• YTD: 3.57%
• 6M: 2.54%
• 1Y: 15.40%
• 3Y*: 18.63%
• 5Y*: 8.58%
• 10Y*: —

GFFFX

• 1D: 0.23%
• 1M: -1.26%
• YTD: 6.70%
• 6M: 5.50%
• 1Y: 18.63%
• 3Y*: 23.37%
• 5Y*: 11.06%
• 10Y*: 16.29%

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

FMACX vs. GFFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMACX American Funds AMCAP Fund® Class F-3	3.57%	18.07%	21.49%	31.48%	-28.43%	22.33%	21.81%	26.73%	-4.12%	18.35%
GFFFX American Funds The Growth Fund of America Class F-2	6.70%	19.96%	28.28%	37.51%	-30.61%	19.55%	38.16%	28.43%	-2.96%	20.88%

Correlation

The correlation between FMACX and GFFFX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.97

The correlation between FMACX and GFFFX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FMACX vs. GFFFX — Risk / Return Rank

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

FMACX

FMACX Risk / Return Rank: 19
FMACX Sharpe Ratio Rank: 19
FMACX Sortino Ratio Rank: 19
FMACX Omega Ratio Rank: 19
FMACX Calmar Ratio Rank: 16
FMACX Martin Ratio Rank: 21

GFFFX

GFFFX Risk / Return Rank: 23
GFFFX Sharpe Ratio Rank: 23
GFFFX Sortino Ratio Rank: 22
GFFFX Omega Ratio Rank: 24
GFFFX Calmar Ratio Rank: 20
GFFFX Martin Ratio Rank: 26

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.

FMACX vs. GFFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds AMCAP Fund® Class F-3 (FMACX) and American Funds The Growth Fund of America Class F-2 (GFFFX). 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.

	FMACX	GFFFX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.14	-0.14
Sortino ratio: Return per unit of downside risk	1.47	1.62	-0.15
Omega ratio: Gain probability vs. loss probability	1.19	1.21	-0.03
Calmar ratio: Return relative to maximum drawdown	1.10	1.36	-0.26
Martin ratio: Return relative to average drawdown	4.36	5.18	-0.82

FMACX vs. GFFFX - Sharpe Ratio Comparison

The current FMACX Sharpe Ratio is 1.01, which is comparable to the GFFFX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of FMACX and GFFFX, 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

FMACX vs. GFFFX - Drawdown Comparison

The maximum FMACX drawdown since its inception was -36.00%, roughly equal to the maximum GFFFX drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for FMACX and GFFFX.

Drawdown Indicators

	FMACX	GFFFX	Difference
Max Drawdown Largest peak-to-trough decline	-36.00%	-36.26%	+0.26%
Max Drawdown (1Y) Largest decline over 1 year	-14.12%	-13.74%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-19.69%	-21.55%	+1.86%
Max Drawdown (5Y) Largest decline over 5 years	-36.00%	-36.26%	+0.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.26%	—
Current Drawdown Current decline from peak	-3.47%	-3.47%	0.00%
Average Drawdown Average peak-to-trough decline	-7.31%	-5.56%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	3.60%	-0.05%

Volatility

FMACX vs. GFFFX - Volatility Comparison

The current volatility for American Funds AMCAP Fund® Class F-3 (FMACX) is 6.09%, while American Funds The Growth Fund of America Class F-2 (GFFFX) has a volatility of 7.16%. This indicates that FMACX experiences smaller price fluctuations and is considered to be less risky than GFFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMACX	GFFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	7.16%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	12.36%	13.12%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	15.47%	16.41%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.39%	20.45%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	19.75%	-0.57%

FMACX vs. GFFFX - Expense Ratio Comparison

FMACX has a 0.34% expense ratio, which is lower than GFFFX's 0.40% expense ratio.

Dividends

FMACX vs. GFFFX - Dividend Comparison

FMACX's dividend yield for the trailing twelve months is around 12.68%, more than GFFFX's 10.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMACX American Funds AMCAP Fund® Class F-3	12.68%	8.62%	8.39%	3.80%	7.46%	4.50%	4.12%	5.16%	8.13%	5.64%	0.00%	0.00%
GFFFX American Funds The Growth Fund of America Class F-2	10.26%	10.95%	9.23%	7.64%	4.32%	8.42%	4.51%	7.38%	12.29%	7.27%	6.87%	9.13%

Frequently Asked Questions

Can I hold both FMACX and GFFFX in my portfolio?

With a correlation of 0.97, FMACX and GFFFX 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, FMACX or GFFFX?

GFFFX has higher volatility (7.16%) compared to FMACX (6.09%). In terms of maximum drawdown, FMACX dropped -36.00% vs GFFFX's -36.26%.

Which has better risk-adjusted returns?

GFFFX currently has the higher Sharpe Ratio (1.14 vs 1.01), 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.