MWIGX vs. AMFIX

Last updated Jun 24, 2026

MWIGX (Metropolitan West Investment Grade Credit Fund) and AMFIX (AAMA Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, MWIGX returned 0.71%/yr vs 0.76%/yr for AMFIX. A 0.76 correlation means they provide meaningful diversification when combined. MWIGX charges 1.87%/yr vs 0.92%/yr for AMFIX.

Performance

MWIGX vs. AMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Investment Grade Credit Fund (MWIGX) 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, MWIGX achieves a -0.05% return, which is significantly lower than AMFIX's 0.18% return.

MWIGX

• 1D: -0.25%
• 1M: 0.35%
• YTD: -0.05%
• 6M: 0.32%
• 1Y: 4.37%
• 3Y*: 5.41%
• 5Y*: 0.71%
• 10Y*: —

AMFIX

• 1D: -0.12%
• 1M: 0.08%
• YTD: 0.18%
• 6M: 0.32%
• 1Y: 2.10%
• 3Y*: 3.27%
• 5Y*: 0.76%
• 10Y*: —

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

MWIGX vs. AMFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MWIGX Metropolitan West Investment Grade Credit Fund	-0.05%	7.99%	3.82%	6.55%	-13.01%	-1.13%	8.41%	11.21%	4.27%
AMFIX AAMA Income Fund	0.18%	3.74%	3.48%	3.84%	-6.26%	-1.37%	2.24%	2.47%	1.12%

Correlation

The correlation between MWIGX and AMFIX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jul 18, 2018	0.76

The correlation between MWIGX and AMFIX has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

Return for Risk

MWIGX vs. AMFIX — Risk / Return Rank

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

MWIGX

MWIGX Risk / Return Rank: 29
MWIGX Sharpe Ratio Rank: 28
MWIGX Sortino Ratio Rank: 32
MWIGX Omega Ratio Rank: 29
MWIGX Calmar Ratio Rank: 30
MWIGX Martin Ratio Rank: 27

AMFIX

AMFIX Risk / Return Rank: 57
AMFIX Sharpe Ratio Rank: 53
AMFIX Sortino Ratio Rank: 60
AMFIX Omega Ratio Rank: 63
AMFIX Calmar Ratio Rank: 66
AMFIX Martin Ratio Rank: 46

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.

MWIGX vs. AMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Investment Grade Credit Fund (MWIGX) 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.

	MWIGX	AMFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.97	-0.58
Sortino ratio: Return per unit of downside risk	2.17	2.96	-0.79
Omega ratio: Gain probability vs. loss probability	1.26	1.40	-0.14
Calmar ratio: Return relative to maximum drawdown	1.93	2.97	-1.05
Martin ratio: Return relative to average drawdown	6.03	9.10	-3.07

MWIGX vs. AMFIX - Sharpe Ratio Comparison

The current MWIGX Sharpe Ratio is 1.39, which is comparable to the AMFIX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of MWIGX 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

MWIGX vs. AMFIX - Drawdown Comparison

The maximum MWIGX drawdown since its inception was -18.32%, which is greater than AMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for MWIGX and AMFIX.

Drawdown Indicators

	MWIGX	AMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.32%	-9.35%	-8.97%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-0.74%	-1.61%
Max Drawdown (3Y) Largest decline over 3 years	-3.88%	-0.88%	-3.00%
Max Drawdown (5Y) Largest decline over 5 years	-18.32%	-8.91%	-9.41%
Current Drawdown Current decline from peak	-1.31%	-0.52%	-0.79%
Average Drawdown Average peak-to-trough decline	-4.45%	-2.01%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.24%	+0.51%

Volatility

MWIGX vs. AMFIX - Volatility Comparison

Metropolitan West Investment Grade Credit Fund (MWIGX) has a higher volatility of 1.15% compared to AAMA Income Fund (AMFIX) at 0.46%. This indicates that MWIGX'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

	MWIGX	AMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.46%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	2.48%	0.92%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	1.12%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	2.17%	+2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.76%	1.74%	+3.02%

MWIGX vs. AMFIX - Expense Ratio Comparison

MWIGX has a 1.87% expense ratio, which is higher than AMFIX's 0.92% expense ratio.

Dividends

MWIGX vs. AMFIX - Dividend Comparison

MWIGX's dividend yield for the trailing twelve months is around 4.07%, more than AMFIX's 2.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMFIX AAMA Income Fund	2.22%	2.08%	2.44%	1.70%	0.83%	0.57%	0.83%	1.24%	1.24%	0.40%
MWIGX Metropolitan West Investment Grade Credit Fund	4.07%	3.70%	4.52%	4.97%	6.33%	4.25%	9.21%	12.03%	3.98%	0.00%

Frequently Asked Questions

Can I hold both MWIGX and AMFIX in my portfolio?

MWIGX and AMFIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MWIGX or AMFIX?

MWIGX has higher volatility (1.15%) compared to AMFIX (0.46%). In terms of maximum drawdown, MWIGX dropped -18.32% vs AMFIX's -9.35%.

Which has better risk-adjusted returns?

AMFIX currently has the higher Sharpe Ratio (1.97 vs 1.39), 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.