MIAQX vs. ASTEX
MIAQX (American Funds Multi-Sector Income Fund) and ASTEX (American Funds Short-Term Tax Exempt Bond Fund) are both mutual funds - MIAQX is a Multisector Bonds fund managed by American Funds, while ASTEX is a Municipal Bonds fund managed by American Funds. Over the past 5 years, MIAQX returned 1.81%/yr vs 1.47%/yr for ASTEX. Their 0.46 correlation means their historical movements had little consistent relationship. MIAQX charges 0.78%/yr vs 0.53%/yr for ASTEX.
Performance
MIAQX vs. ASTEX - Performance Comparison
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Returns By Period
In the year-to-date period, MIAQX achieves a 0.10% return, which is significantly lower than ASTEX's 0.62% return.
MIAQX
- 1D
- 0.11%
- 1M
- -1.28%
- 6M
- -0.30%
- YTD
- 0.10%
- 1Y
- 3.07%
- 3Y*
- 6.23%
- 5Y*
- 1.81%
- 10Y*
- —
- ALL TIME*
- 3.01%
ASTEX
- 1D
- -0.10%
- 1M
- -0.60%
- 6M
- -0.09%
- YTD
- 0.62%
- 1Y
- 2.23%
- 3Y*
- 3.51%
- 5Y*
- 1.47%
- 10Y*
- 1.49%
- ALL TIME*
- 1.47%
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 |
MIAQX vs. ASTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MIAQX American Funds Multi-Sector Income Fund | 0.10% | 7.81% | 6.08% | 9.47% | -13.04% | 2.10% | 8.29% | 3.20% |
ASTEX American Funds Short-Term Tax Exempt Bond Fund | 0.62% | 5.34% | 2.46% | 2.91% | -3.25% | -0.29% | 2.91% | 2.39% |
Correlation
The correlation between MIAQX and ASTEX is 0.59, 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. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | 0.46 |
The correlation between MIAQX and ASTEX shifts across timeframes, from 0.46 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MIAQX vs. ASTEX — Risk / Return Rank
MIAQX
ASTEX
MIAQX vs. ASTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Multi-Sector Income Fund (MIAQX) and American Funds Short-Term Tax Exempt Bond Fund (ASTEX). 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.
| MIAQX | ASTEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.53 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.10 | -0.71 |
| Martin ratioReturn relative to average drawdown | 5.79 | 6.39 | -0.60 |
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Drawdowns
MIAQX vs. ASTEX - Drawdown Comparison
The maximum MIAQX drawdown since its inception was -18.01%, which is greater than ASTEX's maximum drawdown of -5.73%. Use the drawdown chart below to compare losses from any high point for MIAQX and ASTEX.
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Drawdown Indicators
| MIAQX | ASTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.01% | -5.73% | -12.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -1.28% | -1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -4.17% | -1.90% | -2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.01% | -5.62% | -12.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.73% | — |
Current DrawdownCurrent decline from peak | -1.43% | -0.69% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -0.70% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.42% | +0.26% |
Volatility
MIAQX vs. ASTEX - Volatility Comparison
American Funds Multi-Sector Income Fund (MIAQX) has a higher volatility of 0.89% compared to American Funds Short-Term Tax Exempt Bond Fund (ASTEX) at 0.39%. This indicates that MIAQX's price experiences larger fluctuations and is considered to be riskier than ASTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIAQX | ASTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.39% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 1.11% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 1.43% | +2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.80% | 1.78% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 1.65% | +3.68% |
MIAQX vs. ASTEX - Expense Ratio Comparison
MIAQX has a 0.78% expense ratio, which is higher than ASTEX's 0.53% expense ratio.
Dividends
MIAQX vs. ASTEX - Dividend Comparison
MIAQX's dividend yield for the trailing twelve months is around 5.61%, more than ASTEX's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASTEX American Funds Short-Term Tax Exempt Bond Fund | 2.52% | 3.66% | 2.53% | 1.73% | 0.78% | 0.68% | 1.31% | 1.62% | 1.44% | 1.32% | 0.97% | 1.03% |
MIAQX American Funds Multi-Sector Income Fund | 5.61% | 5.98% | 5.57% | 4.83% | 3.39% | 3.77% | 3.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MIAQX and ASTEX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIAQX has higher volatility (0.89%) compared to ASTEX (0.39%). In terms of maximum drawdown, MIAQX dropped -18.01% vs ASTEX's -5.73%.
ASTEX currently has the higher Sharpe Ratio (1.87 vs 1.08), 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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