MMCFX vs. OBCHX

Last updated Jun 24, 2026

MMCFX (AMG Veritas China Fund) and OBCHX (Oberweis China Opportunities Fund) are both China Equities funds. Over the past 10 years, MMCFX returned 6.10%/yr vs 11.54%/yr for OBCHX. A 0.63 correlation means they provide meaningful diversification when combined. MMCFX charges 1.14%/yr vs 2.03%/yr for OBCHX.

Performance

MMCFX vs. OBCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG Veritas China Fund (MMCFX) and Oberweis China Opportunities Fund (OBCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMCFX achieves a 11.32% return, which is significantly lower than OBCHX's 37.77% return. Over the past 10 years, MMCFX has underperformed OBCHX with an annualized return of 6.10%, while OBCHX has yielded a comparatively higher 11.54% annualized return.

MMCFX

• 1D: 2.13%
• 1M: 6.15%
• YTD: 11.32%
• 6M: 10.94%
• 1Y: 28.65%
• 3Y*: 8.24%
• 5Y*: -6.48%
• 10Y*: 6.10%

OBCHX

• 1D: 1.22%
• 1M: 7.82%
• YTD: 37.77%
• 6M: 37.03%
• 1Y: 66.76%
• 3Y*: 28.29%
• 5Y*: 2.11%
• 10Y*: 11.54%

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

MMCFX vs. OBCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMCFX AMG Veritas China Fund	11.32%	27.88%	-0.59%	-18.35%	-26.33%	-0.49%	17.79%	27.49%	-5.22%	24.07%
OBCHX Oberweis China Opportunities Fund	37.77%	40.89%	7.28%	-7.70%	-37.21%	-5.16%	57.06%	36.32%	-25.94%	54.99%

Correlation

The correlation between MMCFX and OBCHX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 4, 2005	0.63

The correlation between MMCFX and OBCHX shifts across timeframes, from 0.63 (all time) to 0.82 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MMCFX vs. OBCHX — Risk / Return Rank

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

MMCFX

MMCFX Risk / Return Rank: 21
MMCFX Sharpe Ratio Rank: 24
MMCFX Sortino Ratio Rank: 22
MMCFX Omega Ratio Rank: 25
MMCFX Calmar Ratio Rank: 23
MMCFX Martin Ratio Rank: 13

OBCHX

OBCHX Risk / Return Rank: 90
OBCHX Sharpe Ratio Rank: 94
OBCHX Sortino Ratio Rank: 82
OBCHX Omega Ratio Rank: 82
OBCHX Calmar Ratio Rank: 98
OBCHX Martin Ratio Rank: 92

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.

MMCFX vs. OBCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG Veritas China Fund (MMCFX) and Oberweis China Opportunities Fund (OBCHX). 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.

	MMCFX	OBCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.97	-1.68
Sortino ratio: Return per unit of downside risk	1.79	3.58	-1.80
Omega ratio: Gain probability vs. loss probability	1.24	1.50	-0.26
Calmar ratio: Return relative to maximum drawdown	1.60	7.17	-5.57
Martin ratio: Return relative to average drawdown	3.46	17.82	-14.37

MMCFX vs. OBCHX - Sharpe Ratio Comparison

The current MMCFX Sharpe Ratio is 1.29, which is lower than the OBCHX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of MMCFX and OBCHX, 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

MMCFX vs. OBCHX - Drawdown Comparison

The maximum MMCFX drawdown since its inception was -70.40%, roughly equal to the maximum OBCHX drawdown of -74.03%. Use the drawdown chart below to compare losses from any high point for MMCFX and OBCHX.

Drawdown Indicators

	MMCFX	OBCHX	Difference
Max Drawdown Largest peak-to-trough decline	-70.40%	-74.03%	+3.63%
Max Drawdown (1Y) Largest decline over 1 year	-18.42%	-9.59%	-8.83%
Max Drawdown (3Y) Largest decline over 3 years	-29.01%	-23.88%	-5.13%
Max Drawdown (5Y) Largest decline over 5 years	-57.12%	-52.17%	-4.95%
Max Drawdown (10Y) Largest decline over 10 years	-57.48%	-59.47%	+1.99%
Current Drawdown Current decline from peak	-31.53%	-8.16%	-23.37%
Average Drawdown Average peak-to-trough decline	-26.68%	-25.67%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.53%	3.85%	+4.68%

Volatility

MMCFX vs. OBCHX - Volatility Comparison

AMG Veritas China Fund (MMCFX) and Oberweis China Opportunities Fund (OBCHX) have volatilities of 10.28% and 10.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMCFX	OBCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.28%	10.00%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	17.49%	17.60%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	22.94%	23.18%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.58%	26.97%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	25.24%	-0.37%

MMCFX vs. OBCHX - Expense Ratio Comparison

MMCFX has a 1.14% expense ratio, which is lower than OBCHX's 2.03% expense ratio.

Dividends

MMCFX vs. OBCHX - Dividend Comparison

MMCFX's dividend yield for the trailing twelve months is around 0.29%, less than OBCHX's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMCFX AMG Veritas China Fund	0.29%	0.32%	1.34%	0.83%	0.00%	114.57%	4.66%	9.14%	25.03%	12.44%	0.35%	12.74%
OBCHX Oberweis China Opportunities Fund	0.73%	1.01%	2.16%	0.46%	1.22%	41.65%	11.50%	3.37%	26.11%	6.26%	0.81%	11.05%

Frequently Asked Questions

Can I hold both MMCFX and OBCHX in my portfolio?

MMCFX and OBCHX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMCFX or OBCHX?

MMCFX has higher volatility (10.28%) compared to OBCHX (10.00%). In terms of maximum drawdown, MMCFX dropped -70.40% vs OBCHX's -74.03%.

Which has better risk-adjusted returns?

OBCHX currently has the higher Sharpe Ratio (2.97 vs 1.29), 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.