FNWFX vs. COBYX

Last updated Aug 1, 2026

FNWFX (American Funds New World Fund Class F-3) and COBYX (The Cook & Bynum Fund) are both Emerging Markets Equities funds. Over the past 5 years, FNWFX returned 6.52%/yr vs 9.02%/yr for COBYX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. FNWFX charges 0.57%/yr vs 1.49%/yr for COBYX.

Performance

FNWFX vs. COBYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds New World Fund Class F-3 (FNWFX) and The Cook & Bynum Fund (COBYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FNWFX having a 11.86% return and COBYX slightly lower at 11.82%.

FNWFX

• 1D: 3.30%
• 1M: -1.63%
• 6M: 5.54%
• YTD: 11.86%
• 1Y: 26.74%
• 3Y*: 15.49%
• 5Y*: 6.52%
• 10Y*: —
• ALL TIME*: 10.65%

COBYX

• 1D: 0.46%
• 1M: 0.41%
• 6M: 8.19%
• YTD: 11.82%
• 1Y: 20.62%
• 3Y*: 7.48%
• 5Y*: 9.02%
• 10Y*: 4.78%
• ALL TIME*: 4.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COBYX The Cook & Bynum Fund	$0.00	$0.00	$0.00
FNWFX American Funds New World Fund Class F-3	$0.00	$0.00	$0.00

FNWFX vs. COBYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNWFX American Funds New World Fund Class F-3	11.86%	28.67%	6.88%	16.24%	-21.77%	5.09%	25.30%	28.02%	-12.00%	25.87%
COBYX The Cook & Bynum Fund	11.82%	20.50%	-10.32%	16.73%	9.28%	9.05%	-10.97%	9.40%	-13.40%	14.43%

Correlation

The correlation between FNWFX and COBYX is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.27
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.51
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.54

Over the past year, the correlation between FNWFX and COBYX has dropped to 0.27 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

FNWFX vs. COBYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FNWFX

FNWFX Risk / Return Rank: 55
FNWFX Sharpe Ratio Rank: 57
FNWFX Sortino Ratio Rank: 54
FNWFX Omega Ratio Rank: 59
FNWFX Calmar Ratio Rank: 55
FNWFX Martin Ratio Rank: 52

COBYX

COBYX Risk / Return Rank: 66
COBYX Sharpe Ratio Rank: 71
COBYX Sortino Ratio Rank: 71
COBYX Omega Ratio Rank: 68
COBYX Calmar Ratio Rank: 66
COBYX Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNWFX vs. COBYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds New World Fund Class F-3 (FNWFX) and The Cook & Bynum Fund (COBYX). 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.

	FNWFX	COBYX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.64	-0.25
Sortino ratio: Return per unit of downside risk	1.95	2.39	-0.44
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.03
Calmar ratio: Return relative to maximum drawdown	1.90	2.17	-0.27
Martin ratio: Return relative to average drawdown	6.89	7.33	-0.44

FNWFX vs. COBYX - Sharpe Ratio Comparison

The current FNWFX Sharpe Ratio is 1.39, which is comparable to the COBYX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of FNWFX and COBYX, 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

FNWFX vs. COBYX - Drawdown Comparison

The maximum FNWFX drawdown since its inception was -33.40%, roughly equal to the maximum COBYX drawdown of -34.18%. Use the drawdown chart below to compare losses from any high point for FNWFX and COBYX.

Drawdown Indicators

	FNWFX	COBYX	Difference
Max Drawdown Largest peak-to-trough decline	-33.40%	-34.18%	+0.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.00%	-8.95%	-4.05%
Max Drawdown (3Y) Largest decline over 3 years	-15.00%	-16.29%	+1.29%
Max Drawdown (5Y) Largest decline over 5 years	-33.40%	-17.10%	-16.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.18%	—
Current Drawdown Current decline from peak	-5.86%	-0.15%	-5.71%
Average Drawdown Average peak-to-trough decline	-8.60%	-6.74%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	2.68%	+0.89%

Volatility

FNWFX vs. COBYX - Volatility Comparison

American Funds New World Fund Class F-3 (FNWFX) has a higher volatility of 7.06% compared to The Cook & Bynum Fund (COBYX) at 3.16%. This indicates that FNWFX's price experiences larger fluctuations and is considered to be riskier than COBYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNWFX	COBYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	3.16%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	15.90%	9.77%	+6.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.72%	11.82%	+5.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	13.96%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	13.67%	+2.94%

FNWFX vs. COBYX - Expense Ratio Comparison

FNWFX has a 0.57% expense ratio, which is lower than COBYX's 1.49% expense ratio.

Dividends

FNWFX vs. COBYX - Dividend Comparison

FNWFX's dividend yield for the trailing twelve months is around 5.44%, more than COBYX's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
COBYX The Cook & Bynum Fund	1.05%	1.18%	0.00%	1.01%	1.16%	2.18%	0.32%	0.69%	12.60%	1.88%	5.09%
FNWFX American Funds New World Fund Class F-3	5.44%	6.09%	4.10%	2.88%	1.33%	7.32%	0.43%	4.04%	2.70%	2.27%	0.00%

Frequently Asked Questions

Can I hold both FNWFX and COBYX in my portfolio?

FNWFX and COBYX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNWFX or COBYX?

FNWFX has higher volatility (7.06%) compared to COBYX (3.16%). In terms of maximum drawdown, FNWFX dropped -33.40% vs COBYX's -34.18%.

Which has better risk-adjusted returns?

COBYX currently has the higher Sharpe Ratio (1.64 vs 1.39), 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.