GAFFX vs. VHYAX

Last updated Jun 4, 2026

GAFFX (American Funds Growth Fund of Amer F3) and VHYAX (Vanguard High Dividend Yield Index Fund Admiral Shares) are both mutual funds - GAFFX is a Large Cap Growth Equities fund managed by American Funds, while VHYAX is a Large Cap Value Equities fund managed by Vanguard. Over the past 5 years, GAFFX returned 12.86%/yr vs 11.62%/yr for VHYAX. A 0.68 correlation means they provide meaningful diversification when combined. GAFFX charges 0.30%/yr vs 0.08%/yr for VHYAX.

Performance

GAFFX vs. VHYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Growth Fund of Amer F3 (GAFFX) and Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAFFX achieves a 10.23% return, which is significantly lower than VHYAX's 12.92% return.

GAFFX

• 1D: -0.33%
• 1M: 6.84%
• YTD: 10.23%
• 6M: 9.86%
• 1Y: 26.59%
• 3Y*: 25.53%
• 5Y*: 12.86%
• 10Y*: —

VHYAX

• 1D: 1.21%
• 1M: 3.83%
• YTD: 12.92%
• 6M: 12.47%
• 1Y: 26.66%
• 3Y*: 19.01%
• 5Y*: 11.62%
• 10Y*: —

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

GAFFX vs. VHYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GAFFX American Funds Growth Fund of Amer F3	10.23%	20.09%	28.41%	37.68%	-30.54%	19.67%	38.31%	18.12%
VHYAX Vanguard High Dividend Yield Index Fund Admiral Shares	12.92%	15.39%	17.39%	6.68%	-0.45%	26.08%	1.06%	16.67%

Correlation

The correlation between GAFFX and VHYAX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019	0.68

The correlation between GAFFX and VHYAX has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.

Return for Risk

GAFFX vs. VHYAX — Risk / Return Rank

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

GAFFX

GAFFX Risk / Return Rank: 35
GAFFX Sharpe Ratio Rank: 39
GAFFX Sortino Ratio Rank: 35
GAFFX Omega Ratio Rank: 37
GAFFX Calmar Ratio Rank: 28
GAFFX Martin Ratio Rank: 35

VHYAX

VHYAX Risk / Return Rank: 81
VHYAX Sharpe Ratio Rank: 84
VHYAX Sortino Ratio Rank: 81
VHYAX Omega Ratio Rank: 74
VHYAX Calmar Ratio Rank: 86
VHYAX Martin Ratio Rank: 83

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.

GAFFX vs. VHYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Growth Fund of Amer F3 (GAFFX) and Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX). 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.

	GAFFX	VHYAX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	2.69	-0.89
Sortino ratio: Return per unit of downside risk	2.46	3.82	-1.36
Omega ratio: Gain probability vs. loss probability	1.32	1.49	-0.16
Calmar ratio: Return relative to maximum drawdown	1.99	4.11	-2.12
Martin ratio: Return relative to average drawdown	7.76	15.57	-7.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAFFX vs. VHYAX - Sharpe Ratio Comparison

The current GAFFX Sharpe Ratio is 1.80, which is lower than the VHYAX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of GAFFX and VHYAX, 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

	GAFFX	VHYAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.69	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.83	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.72	+0.09

Drawdowns

GAFFX vs. VHYAX - Drawdown Comparison

The maximum GAFFX drawdown since its inception was -36.19%, roughly equal to the maximum VHYAX drawdown of -35.14%. Use the drawdown chart below to compare losses from any high point for GAFFX and VHYAX.

Drawdown Indicators

	GAFFX	VHYAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.19%	-35.14%	-1.05%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-6.75%	-6.96%
Max Drawdown (3Y) Largest decline over 3 years	-21.55%	-14.42%	-7.13%
Max Drawdown (5Y) Largest decline over 5 years	-36.19%	-15.87%	-20.32%
Current Drawdown Current decline from peak	-0.33%	0.00%	-0.33%
Average Drawdown Average peak-to-trough decline	-7.41%	-3.77%	-3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	1.78%	+1.72%

Volatility

GAFFX vs. VHYAX - Volatility Comparison

American Funds Growth Fund of Amer F3 (GAFFX) has a higher volatility of 3.67% compared to Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX) at 2.93%. This indicates that GAFFX's price experiences larger fluctuations and is considered to be riskier than VHYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAFFX	VHYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	2.93%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	11.65%	7.76%	+3.89%
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	10.31%	+4.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.25%	14.00%	+6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	17.97%	+2.17%

GAFFX vs. VHYAX - Expense Ratio Comparison

GAFFX has a 0.30% expense ratio, which is higher than VHYAX's 0.08% expense ratio.

Dividends

GAFFX vs. VHYAX - Dividend Comparison

GAFFX's dividend yield for the trailing twelve months is around 9.98%, more than VHYAX's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAFFX American Funds Growth Fund of Amer F3	9.98%	11.00%	9.30%	7.71%	4.45%	8.50%	4.58%	7.47%	12.37%	7.36%
VHYAX Vanguard High Dividend Yield Index Fund Admiral Shares	2.16%	2.42%	2.72%	3.09%	2.98%	2.74%	3.16%	3.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GAFFX and VHYAX in my portfolio?

GAFFX and VHYAX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAFFX or VHYAX?

GAFFX has higher volatility (3.67%) compared to VHYAX (2.93%). In terms of maximum drawdown, GAFFX dropped -36.19% vs VHYAX's -35.14%.

Which has better risk-adjusted returns?

VHYAX currently has the higher Sharpe Ratio (2.69 vs 1.80), 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.