FQCHX vs. AHYMX

Last updated Aug 4, 2026

FQCHX (Franklin Templeton SMACS: Series CH) and AHYMX (abrdn Short Duration High Yield Municipal Fund) are both High Yield Muni funds. Over the past 5 years, FQCHX returned 0.85%/yr vs -0.19%/yr for AHYMX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FQCHX charges 0.00%/yr vs 0.68%/yr for AHYMX.

Performance

FQCHX vs. AHYMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Templeton SMACS: Series CH (FQCHX) and abrdn Short Duration High Yield Municipal Fund (AHYMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FQCHX achieves a 1.34% return, which is significantly higher than AHYMX's 0.62% return.

FQCHX

• 1D: -0.12%
• 1M: -2.18%
• 6M: 1.09%
• YTD: 1.34%
• 1Y: 6.83%
• 3Y*: 5.52%
• 5Y*: 0.85%
• 10Y*: —
• ALL TIME*: 2.61%

AHYMX

• 1D: 0.00%
• 1M: -1.11%
• 6M: 0.08%
• YTD: 0.62%
• 1Y: 4.05%
• 3Y*: 2.54%
• 5Y*: -0.19%
• 10Y*: 1.39%
• ALL TIME*: 2.25%

*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)
AHYMX abrdn Short Duration High Yield Municipal Fund	$0.00	$0.00	$0.00
FQCHX Franklin Templeton SMACS: Series CH	$0.00	$0.00	$0.00

FQCHX vs. AHYMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FQCHX Franklin Templeton SMACS: Series CH	1.34%	4.96%	8.85%	4.90%	-13.94%	6.00%	4.25%	4.13%
AHYMX abrdn Short Duration High Yield Municipal Fund	0.62%	2.91%	4.07%	1.56%	-9.36%	4.06%	1.81%	2.21%

Correlation

The correlation between FQCHX and AHYMX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019	0.73

The correlation between FQCHX and AHYMX shifts across timeframes, from 0.65 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FQCHX vs. AHYMX — Risk / Return Rank

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

FQCHX

FQCHX Risk / Return Rank: 86
FQCHX Sharpe Ratio Rank: 87
FQCHX Sortino Ratio Rank: 91
FQCHX Omega Ratio Rank: 93
FQCHX Calmar Ratio Rank: 80
FQCHX Martin Ratio Rank: 82

AHYMX

AHYMX Risk / Return Rank: 69
AHYMX Sharpe Ratio Rank: 70
AHYMX Sortino Ratio Rank: 76
AHYMX Omega Ratio Rank: 81
AHYMX Calmar Ratio Rank: 61
AHYMX Martin Ratio Rank: 58

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.

FQCHX vs. AHYMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Templeton SMACS: Series CH (FQCHX) and abrdn Short Duration High Yield Municipal Fund (AHYMX). 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.

	FQCHX	AHYMX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.73	+0.44
Sortino ratio: Return per unit of downside risk	3.43	2.69	+0.74
Omega ratio: Gain probability vs. loss probability	1.52	1.39	+0.12
Calmar ratio: Return relative to maximum drawdown	2.76	2.23	+0.53
Martin ratio: Return relative to average drawdown	10.70	8.20	+2.49

FQCHX vs. AHYMX - Sharpe Ratio Comparison

The current FQCHX Sharpe Ratio is 2.17, which is comparable to the AHYMX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FQCHX and AHYMX, 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

FQCHX vs. AHYMX - Drawdown Comparison

The maximum FQCHX drawdown since its inception was -21.05%, which is greater than AHYMX's maximum drawdown of -11.53%. Use the drawdown chart below to compare losses from any high point for FQCHX and AHYMX.

Drawdown Indicators

	FQCHX	AHYMX	Difference
Max Drawdown Largest peak-to-trough decline	-21.05%	-11.53%	-9.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-1.98%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-7.69%	-4.53%	-3.16%
Max Drawdown (5Y) Largest decline over 5 years	-21.05%	-11.53%	-9.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-11.53%	—
Current Drawdown Current decline from peak	-2.18%	-1.11%	-1.07%
Average Drawdown Average peak-to-trough decline	-5.50%	-2.46%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.54%	+0.14%

Volatility

FQCHX vs. AHYMX - Volatility Comparison

Franklin Templeton SMACS: Series CH (FQCHX) has a higher volatility of 0.94% compared to abrdn Short Duration High Yield Municipal Fund (AHYMX) at 0.65%. This indicates that FQCHX's price experiences larger fluctuations and is considered to be riskier than AHYMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FQCHX	AHYMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	0.65%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	1.95%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	2.62%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.66%	2.94%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.51%	2.62%	+3.89%

FQCHX vs. AHYMX - Expense Ratio Comparison

FQCHX has a 0.00% expense ratio, which is lower than AHYMX's 0.68% expense ratio.

Dividends

FQCHX vs. AHYMX - Dividend Comparison

FQCHX's dividend yield for the trailing twelve months is around 5.11%, more than AHYMX's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHYMX abrdn Short Duration High Yield Municipal Fund	4.59%	4.52%	3.32%	2.21%	2.05%	2.31%	2.74%	3.10%	3.39%	2.82%	3.28%	3.43%
FQCHX Franklin Templeton SMACS: Series CH	5.11%	7.32%	6.12%	3.92%	4.22%	3.39%	3.35%	3.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FQCHX and AHYMX in my portfolio?

FQCHX and AHYMX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FQCHX or AHYMX?

FQCHX has higher volatility (0.94%) compared to AHYMX (0.65%). In terms of maximum drawdown, FQCHX dropped -21.05% vs AHYMX's -11.53%.

Which has better risk-adjusted returns?

FQCHX currently has the higher Sharpe Ratio (2.17 vs 1.73), 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.