MWTRX vs. AMFIX

Last updated Jun 5, 2026

MWTRX (Metropolitan West Total Return Bond Fund) and AMFIX (AAMA Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, MWTRX returned -0.69%/yr vs 0.73%/yr for AMFIX. Their correlation of 0.81 suggests significant overlap in exposure. MWTRX charges 0.65%/yr vs 0.92%/yr for AMFIX.

Performance

MWTRX vs. AMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Total Return Bond Fund (MWTRX) 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, MWTRX achieves a -0.08% return, which is significantly lower than AMFIX's 0.26% return.

MWTRX

• 1D: -0.22%
• 1M: 0.04%
• YTD: -0.08%
• 6M: -0.08%
• 1Y: 4.43%
• 3Y*: 3.65%
• 5Y*: -0.69%
• 10Y*: 1.39%

AMFIX

• 1D: -0.04%
• 1M: -0.04%
• YTD: 0.26%
• 6M: 0.48%
• 1Y: 2.40%
• 3Y*: 3.29%
• 5Y*: 0.73%
• 10Y*: —

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

MWTRX vs. AMFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MWTRX Metropolitan West Total Return Bond Fund	-0.08%	7.29%	0.45%	5.77%	-15.52%	-1.51%	8.79%	8.95%	0.17%	0.07%
AMFIX AAMA Income Fund	0.26%	3.74%	3.48%	3.84%	-6.26%	-1.37%	2.24%	2.47%	0.89%	-0.44%

Correlation

The correlation between MWTRX and AMFIX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 31, 2017	0.81

The correlation between MWTRX and AMFIX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

Return for Risk

MWTRX vs. AMFIX — Risk / Return Rank

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

MWTRX

MWTRX Risk / Return Rank: 17
MWTRX Sharpe Ratio Rank: 17
MWTRX Sortino Ratio Rank: 18
MWTRX Omega Ratio Rank: 16
MWTRX Calmar Ratio Rank: 18
MWTRX Martin Ratio Rank: 17

AMFIX

AMFIX Risk / Return Rank: 71
AMFIX Sharpe Ratio Rank: 67
AMFIX Sortino Ratio Rank: 78
AMFIX Omega Ratio Rank: 76
AMFIX Calmar Ratio Rank: 76
AMFIX Martin Ratio Rank: 57

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.

MWTRX vs. AMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Total Return Bond Fund (MWTRX) 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.

	MWTRX	AMFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.39	-1.21
Sortino ratio: Return per unit of downside risk	1.76	3.74	-1.98
Omega ratio: Gain probability vs. loss probability	1.21	1.50	-0.29
Calmar ratio: Return relative to maximum drawdown	1.53	3.38	-1.85
Martin ratio: Return relative to average drawdown	4.66	11.26	-6.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWTRX vs. AMFIX - Sharpe Ratio Comparison

The current MWTRX Sharpe Ratio is 1.18, which is lower than the AMFIX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of MWTRX 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.

Sharpe Ratios by Period

	MWTRX	AMFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.39	-1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.34	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.56	+0.43

Drawdowns

MWTRX vs. AMFIX - Drawdown Comparison

The maximum MWTRX drawdown since its inception was -20.81%, which is greater than AMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for MWTRX and AMFIX.

Drawdown Indicators

	MWTRX	AMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.81%	-9.35%	-11.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-0.74%	-2.64%
Max Drawdown (3Y) Largest decline over 3 years	-7.14%	-0.88%	-6.26%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-8.91%	-11.76%
Max Drawdown (10Y) Largest decline over 10 years	-20.81%	—	—
Current Drawdown Current decline from peak	-5.23%	-0.44%	-4.79%
Average Drawdown Average peak-to-trough decline	-2.64%	-2.02%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.22%	+0.88%

Volatility

MWTRX vs. AMFIX - Volatility Comparison

Metropolitan West Total Return Bond Fund (MWTRX) has a higher volatility of 1.58% compared to AAMA Income Fund (AMFIX) at 0.40%. This indicates that MWTRX'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

	MWTRX	AMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	0.40%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	0.83%	+2.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.38%	1.04%	+3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.64%	2.17%	+4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.31%	1.74%	+3.57%

MWTRX vs. AMFIX - Expense Ratio Comparison

MWTRX has a 0.65% expense ratio, which is lower than AMFIX's 0.92% expense ratio.

Dividends

MWTRX vs. AMFIX - Dividend Comparison

MWTRX's dividend yield for the trailing twelve months is around 3.82%, more than AMFIX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMFIX AAMA Income Fund	2.21%	2.08%	2.44%	1.70%	0.83%	0.57%	0.83%	1.24%	1.24%	0.40%	0.00%	0.00%
MWTRX Metropolitan West Total Return Bond Fund	3.82%	3.69%	4.16%	3.88%	1.91%	0.93%	6.38%	3.38%	2.73%	1.92%	3.10%	2.69%

Frequently Asked Questions

Can I hold both MWTRX and AMFIX in my portfolio?

MWTRX and AMFIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MWTRX or AMFIX?

MWTRX has higher volatility (1.58%) compared to AMFIX (0.40%). In terms of maximum drawdown, MWTRX dropped -20.81% vs AMFIX's -9.35%.

Which has better risk-adjusted returns?

AMFIX currently has the higher Sharpe Ratio (2.39 vs 1.18), 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.