HFQAX vs. AMECX

Last updated Aug 1, 2026

HFQAX (Janus Henderson Global Equity Income Fund) and AMECX (American Funds The Income Fund of America Class A) are both mutual funds - HFQAX is a Dividend fund managed by Janus Henderson, while AMECX is a Diversified Portfolio fund actively managed by American Funds. Over the past 10 years, HFQAX returned 8.90%/yr vs 8.35%/yr for AMECX. Their correlation of 0.85 means they have usually moved in the same direction. HFQAX charges 1.24%/yr vs 0.56%/yr for AMECX.

Performance

HFQAX vs. AMECX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Equity Income Fund (HFQAX) and American Funds The Income Fund of America Class A (AMECX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFQAX achieves a 17.80% return, which is significantly higher than AMECX's 8.47% return. Over the past 10 years, HFQAX has outperformed AMECX with an annualized return of 8.90%, while AMECX has yielded a comparatively lower 8.35% annualized return.

HFQAX

• 1D: 1.72%
• 1M: 3.62%
• 6M: 10.24%
• YTD: 17.80%
• 1Y: 30.15%
• 3Y*: 18.64%
• 5Y*: 11.82%
• 10Y*: 8.90%
• ALL TIME*: 5.49%

AMECX

• 1D: 0.25%
• 1M: 1.23%
• 6M: 4.62%
• YTD: 8.47%
• 1Y: 16.31%
• 3Y*: 13.17%
• 5Y*: 8.30%
• 10Y*: 8.35%
• ALL TIME*: 7.75%

*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)
AMECX American Funds The Income Fund of America Class A	$0.00	$0.00	$0.00
HFQAX Janus Henderson Global Equity Income Fund	$0.00	$0.00	$0.00

HFQAX vs. AMECX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFQAX Janus Henderson Global Equity Income Fund	17.80%	29.61%	6.86%	10.17%	-6.59%	12.45%	1.66%	20.87%	-15.86%	19.14%
AMECX American Funds The Income Fund of America Class A	8.47%	17.77%	10.84%	6.79%	-6.40%	17.37%	4.49%	18.50%	-5.27%	12.58%

Correlation

The correlation between HFQAX and AMECX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Dec 1, 2006	0.85

The correlation between HFQAX and AMECX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

HFQAX vs. AMECX — Risk / Return Rank

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

HFQAX

HFQAX Risk / Return Rank: 86
HFQAX Sharpe Ratio Rank: 91
HFQAX Sortino Ratio Rank: 87
HFQAX Omega Ratio Rank: 87
HFQAX Calmar Ratio Rank: 84
HFQAX Martin Ratio Rank: 83

AMECX

AMECX Risk / Return Rank: 81
AMECX Sharpe Ratio Rank: 86
AMECX Sortino Ratio Rank: 84
AMECX Omega Ratio Rank: 82
AMECX Calmar Ratio Rank: 78
AMECX Martin Ratio Rank: 78

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.

HFQAX vs. AMECX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Equity Income Fund (HFQAX) and American Funds The Income Fund of America Class A (AMECX). 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.

	HFQAX	AMECX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.06	+0.26
Sortino ratio: Return per unit of downside risk	3.14	2.94	+0.20
Omega ratio: Gain probability vs. loss probability	1.44	1.37	+0.06
Calmar ratio: Return relative to maximum drawdown	2.81	2.49	+0.32
Martin ratio: Return relative to average drawdown	10.08	9.13	+0.95

HFQAX vs. AMECX - Sharpe Ratio Comparison

The current HFQAX Sharpe Ratio is 2.32, which is comparable to the AMECX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of HFQAX and AMECX, 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

HFQAX vs. AMECX - Drawdown Comparison

The maximum HFQAX drawdown since its inception was -52.77%, which is greater than AMECX's maximum drawdown of -41.92%. Use the drawdown chart below to compare losses from any high point for HFQAX and AMECX.

Drawdown Indicators

	HFQAX	AMECX	Difference
Max Drawdown Largest peak-to-trough decline	-52.77%	-41.92%	-10.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-6.13%	-3.86%
Max Drawdown (3Y) Largest decline over 3 years	-12.20%	-8.58%	-3.62%
Max Drawdown (5Y) Largest decline over 5 years	-21.83%	-15.78%	-6.05%
Max Drawdown (10Y) Largest decline over 10 years	-34.79%	-26.13%	-8.66%
Current Drawdown Current decline from peak	0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-10.79%	-4.44%	-6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	1.67%	+1.11%

Volatility

HFQAX vs. AMECX - Volatility Comparison

Janus Henderson Global Equity Income Fund (HFQAX) has a higher volatility of 3.78% compared to American Funds The Income Fund of America Class A (AMECX) at 1.99%. This indicates that HFQAX's price experiences larger fluctuations and is considered to be riskier than AMECX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFQAX	AMECX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	1.99%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	5.86%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.09%	7.41%	+4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	9.43%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	10.63%	+3.81%

HFQAX vs. AMECX - Expense Ratio Comparison

HFQAX has a 1.24% expense ratio, which is higher than AMECX's 0.56% expense ratio.

Dividends

HFQAX vs. AMECX - Dividend Comparison

HFQAX's dividend yield for the trailing twelve months is around 5.79%, less than AMECX's 9.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMECX American Funds The Income Fund of America Class A	9.28%	9.94%	6.38%	2.93%	6.98%	6.67%	2.80%	5.01%	7.48%	4.26%	3.09%	5.09%
HFQAX Janus Henderson Global Equity Income Fund	5.79%	6.59%	7.96%	7.89%	8.02%	6.92%	7.25%	6.80%	7.66%	6.03%	6.77%	6.60%

Frequently Asked Questions

Can I hold both HFQAX and AMECX in my portfolio?

HFQAX and AMECX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFQAX or AMECX?

HFQAX has higher volatility (3.78%) compared to AMECX (1.99%). In terms of maximum drawdown, HFQAX dropped -52.77% vs AMECX's -41.92%.

Which has better risk-adjusted returns?

HFQAX currently has the higher Sharpe Ratio (2.32 vs 2.06), 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.