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 14.49%/yr vs 8.71%/yr for AMEFX. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.37% expense ratio.
Performance
ICAFX vs. AMEFX - Performance Comparison
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Returns By Period
In the year-to-date period, ICAFX achieves a 10.98% return, which is significantly higher than AMEFX's 6.40% return. Over the past 10 years, ICAFX has outperformed AMEFX with an annualized return of 14.49%, while AMEFX has yielded a comparatively lower 8.71% annualized return.
ICAFX
- 1D
- 0.00%
- 1M
- 5.19%
- YTD
- 10.98%
- 6M
- 10.95%
- 1Y
- 26.91%
- 3Y*
- 24.44%
- 5Y*
- 15.25%
- 10Y*
- 14.49%
AMEFX
- 1D
- 0.29%
- 1M
- 0.95%
- YTD
- 6.40%
- 6M
- 7.44%
- 1Y
- 15.98%
- 3Y*
- 13.96%
- 5Y*
- 7.97%
- 10Y*
- 8.71%
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 | 10.98% | 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 | 6.40% | 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 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2008 | 0.91 |
Over the past year, the correlation between ICAFX and AMEFX has dropped to 0.67 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
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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.
| ICAFX | AMEFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.42 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.67 | +0.09 |
| Martin ratioReturn relative to average drawdown | 12.54 | 10.06 | +2.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICAFX | AMEFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 2.27 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.85 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.82 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.68 | -0.03 |
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.
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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 | 0.00% | -1.18% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -3.83% | -1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.61% | +0.60% |
Volatility
ICAFX vs. AMEFX - Volatility Comparison
American Funds The Investment Company of America Fund Class F2 (ICAFX) has a higher volatility of 3.26% compared to American Funds The Income Fund of America® Class F-2 (AMEFX) at 2.04%. 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.
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Volatility by Period
| ICAFX | AMEFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 2.04% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 5.62% | +4.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.46% | 7.16% | +5.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 9.47% | +6.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 10.69% | +5.90% |
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 9.75%, more than AMEFX's 9.61% 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 | 9.61% | 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 | 9.75% | 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 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICAFX has higher volatility (3.26%) compared to AMEFX (2.04%). In terms of maximum drawdown, ICAFX dropped -42.84% vs AMEFX's -37.22%.
AMEFX currently has the higher Sharpe Ratio (2.27 vs 2.23), 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.
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