ICAFX vs. AMEFX
ICAFX (American Funds The Investment Company of America Fund Class F2) and AMEFX (American Funds The Income Fund of America® Class F-2) are both mutual funds - ICAFX is a Large Cap Growth Equities fund actively managed by American Funds, while AMEFX is a Diversified Portfolio fund tracking the 65%/35% S&P 500 Index/Bloomberg U.S. Aggregate Index. ICAFX is actively managed, while AMEFX is passively managed. Over the past 10 years, ICAFX returned 13.82%/yr vs 8.54%/yr for AMEFX. Their correlation of 0.90 means they have usually moved in the same direction. Both charge a 0.37% expense ratio.
Performance
ICAFX vs. AMEFX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with ICAFX having a 8.27% return and AMEFX slightly higher at 8.58%. Over the past 10 years, ICAFX has outperformed AMEFX with an annualized return of 13.82%, while AMEFX has yielded a comparatively lower 8.54% annualized return.
ICAFX
- 1D
- 1.46%
- 1M
- -1.10%
- 6M
- 6.45%
- YTD
- 8.27%
- 1Y
- 17.16%
- 3Y*
- 20.58%
- 5Y*
- 14.04%
- 10Y*
- 13.82%
- ALL TIME*
- 11.52%
AMEFX
- 1D
- 0.29%
- 1M
- 1.23%
- 6M
- 4.73%
- YTD
- 8.58%
- 1Y
- 16.52%
- 3Y*
- 13.38%
- 5Y*
- 8.51%
- 10Y*
- 8.54%
- ALL TIME*
- 8.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ICAFX vs. AMEFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICAFX American Funds The Investment Company of America Fund Class F2 | 8.27% | 20.69% | 25.14% | 28.82% | -15.32% | 25.35% | 14.70% | 24.32% | -8.02% | 19.75% |
AMEFX American Funds The Income Fund of America® Class F-2 | 8.58% | 18.03% | 11.08% | 6.92% | -6.22% | 17.63% | 4.67% | 18.74% | -5.11% | 12.73% |
Correlation
The correlation between ICAFX and AMEFX is 0.61, 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. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2008 | 0.90 |
Over the past year, the correlation between ICAFX and AMEFX has dropped to 0.61 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ICAFX vs. AMEFX — Risk / Return Rank
ICAFX
AMEFX
ICAFX vs. AMEFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds The Investment Company of America Fund Class F2 (ICAFX) and American Funds The Income Fund of America® Class F-2 (AMEFX). 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.
| ICAFX | AMEFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 2.54 | -1.01 |
| Martin ratioReturn relative to average drawdown | 6.50 | 9.37 | -2.87 |
Loading charts...
Drawdowns
ICAFX vs. AMEFX - Drawdown Comparison
The maximum ICAFX drawdown since its inception was -42.84%, which is greater than AMEFX's maximum drawdown of -37.22%. Use the drawdown chart below to compare losses from any high point for ICAFX and AMEFX.
Loading charts...
Drawdown Indicators
| ICAFX | AMEFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.84% | -37.22% | -5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -6.10% | -3.95% |
Max Drawdown (3Y)Largest decline over 3 years | -17.39% | -8.59% | -8.80% |
Max Drawdown (5Y)Largest decline over 5 years | -24.21% | -15.67% | -8.54% |
Max Drawdown (10Y)Largest decline over 10 years | -31.07% | -26.10% | -4.97% |
Current DrawdownCurrent decline from peak | -2.45% | -0.14% | -2.31% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -3.81% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.36% | 1.65% | +0.71% |
Volatility
ICAFX vs. AMEFX - Volatility Comparison
American Funds The Investment Company of America Fund Class F2 (ICAFX) has a higher volatility of 3.36% compared to American Funds The Income Fund of America® Class F-2 (AMEFX) at 1.98%. This indicates that ICAFX's price experiences larger fluctuations and is considered to be riskier than AMEFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ICAFX | AMEFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 1.98% | +1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.63% | 5.86% | +4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 7.41% | +6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 9.45% | +6.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 10.64% | +5.95% |
ICAFX vs. AMEFX - Expense Ratio Comparison
Both ICAFX and AMEFX have an expense ratio of 0.37%.
Dividends
ICAFX vs. AMEFX - Dividend Comparison
ICAFX's dividend yield for the trailing twelve months is around 9.45%, which matches AMEFX's 9.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMEFX American Funds The Income Fund of America® Class F-2 | 9.48% | 10.16% | 6.60% | 3.09% | 7.21% | 6.87% | 3.00% | 5.19% | 7.67% | 4.38% | 3.27% | 5.27% |
ICAFX American Funds The Investment Company of America Fund Class F2 | 9.45% | 10.79% | 9.49% | 5.15% | 6.33% | 7.14% | 1.84% | 6.34% | 9.84% | 7.25% | 5.67% | 9.10% |
Frequently Asked Questions
ICAFX and AMEFX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICAFX has higher volatility (3.36%) compared to AMEFX (1.98%). In terms of maximum drawdown, ICAFX dropped -42.84% vs AMEFX's -37.22%.
AMEFX currently has the higher Sharpe Ratio (2.10 vs 1.14), 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.
Find the right allocation for ICAFX and AMEFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer