HOBIX vs. AMFIX

Last updated Jun 23, 2026

HOBIX (Holbrook Income Fund Class I) and AMFIX (AAMA Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, HOBIX returned 4.26%/yr vs 0.78%/yr for AMFIX. At a 0.23 correlation, their price movements are largely independent. HOBIX charges 1.05%/yr vs 0.92%/yr for AMFIX.

Performance

HOBIX vs. AMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Holbrook Income Fund Class I (HOBIX) and AAMA Income Fund (AMFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOBIX achieves a 2.22% return, which is significantly higher than AMFIX's 0.30% return.

HOBIX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 2.22%
• 6M: 3.19%
• 1Y: 6.17%
• 3Y*: 7.21%
• 5Y*: 4.26%
• 10Y*: —

AMFIX

• 1D: 0.12%
• 1M: 0.21%
• YTD: 0.30%
• 6M: 0.40%
• 1Y: 2.31%
• 3Y*: 3.32%
• 5Y*: 0.78%
• 10Y*: —

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

HOBIX vs. AMFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBIX Holbrook Income Fund Class I	2.22%	7.67%	7.66%	5.65%	-2.91%	6.13%	7.45%	7.70%	1.74%	1.91%
AMFIX AAMA Income Fund	0.30%	3.74%	3.48%	3.84%	-6.26%	-1.37%	2.24%	2.47%	0.89%	-0.44%

Correlation

The correlation between HOBIX and AMFIX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Aug 30, 2017	0.23

The correlation between HOBIX and AMFIX shifts across timeframes, from 0.23 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HOBIX vs. AMFIX — Risk / Return Rank

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

HOBIX

HOBIX Risk / Return Rank: 98
HOBIX Sharpe Ratio Rank: 95
HOBIX Sortino Ratio Rank: 99
HOBIX Omega Ratio Rank: 99
HOBIX Calmar Ratio Rank: 99
HOBIX Martin Ratio Rank: 99

AMFIX

AMFIX Risk / Return Rank: 67
AMFIX Sharpe Ratio Rank: 63
AMFIX Sortino Ratio Rank: 73
AMFIX Omega Ratio Rank: 75
AMFIX Calmar Ratio Rank: 74
AMFIX Martin Ratio Rank: 51

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.

HOBIX vs. AMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Holbrook Income Fund Class I (HOBIX) and AAMA Income Fund (AMFIX). 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.

	HOBIX	AMFIX	Difference
Sharpe ratio: Return per unit of total volatility	3.08	2.14	+0.94
Sortino ratio: Return per unit of downside risk	9.57	3.24	+6.34
Omega ratio: Gain probability vs. loss probability	4.27	1.44	+2.83
Calmar ratio: Return relative to maximum drawdown	12.16	3.20	+8.96
Martin ratio: Return relative to average drawdown	41.70	9.90	+31.80

HOBIX vs. AMFIX - Sharpe Ratio Comparison

The current HOBIX Sharpe Ratio is 3.08, which is higher than the AMFIX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of HOBIX and AMFIX, 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

HOBIX vs. AMFIX - Drawdown Comparison

The maximum HOBIX drawdown since its inception was -23.52%, which is greater than AMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for HOBIX and AMFIX.

Drawdown Indicators

	HOBIX	AMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-9.35%	-14.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.51%	-0.74%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-2.77%	-0.88%	-1.89%
Max Drawdown (5Y) Largest decline over 5 years	-4.16%	-8.91%	+4.75%
Current Drawdown Current decline from peak	-0.20%	-0.39%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.96%	-2.02%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	0.24%	-0.09%

Volatility

HOBIX vs. AMFIX - Volatility Comparison

Holbrook Income Fund Class I (HOBIX) has a higher volatility of 0.55% compared to AAMA Income Fund (AMFIX) at 0.46%. This indicates that HOBIX's price experiences larger fluctuations and is considered to be riskier than AMFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOBIX	AMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	0.46%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	1.51%	0.91%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	2.02%	1.11%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.65%	2.17%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	1.74%	+3.98%

HOBIX vs. AMFIX - Expense Ratio Comparison

HOBIX has a 1.05% expense ratio, which is higher than AMFIX's 0.92% expense ratio.

Dividends

HOBIX vs. AMFIX - Dividend Comparison

HOBIX's dividend yield for the trailing twelve months is around 6.31%, more than AMFIX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMFIX AAMA Income Fund	2.21%	2.08%	2.44%	1.70%	0.83%	0.57%	0.83%	1.24%	1.24%	0.40%
HOBIX Holbrook Income Fund Class I	6.31%	6.45%	7.04%	6.35%	5.31%	3.97%	6.30%	3.51%	4.32%	2.12%

Frequently Asked Questions

Can I hold both HOBIX and AMFIX in my portfolio?

HOBIX and AMFIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOBIX or AMFIX?

HOBIX has higher volatility (0.55%) compared to AMFIX (0.46%). In terms of maximum drawdown, HOBIX dropped -23.52% vs AMFIX's -9.35%.

Which has better risk-adjusted returns?

HOBIX currently has the higher Sharpe Ratio (3.08 vs 2.14), 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.