NAARX vs. ASTEX
NAARX (American Funds Retirement Income Portfolio - Conservative) and ASTEX (American Funds Short-Term Tax Exempt Bond Fund) are both mutual funds - NAARX is a Diversified Portfolio fund managed by American Funds, while ASTEX is a Municipal Bonds fund managed by American Funds. Over the past 10 years, NAARX returned 5.36%/yr vs 1.49%/yr for ASTEX. Their 0.20 correlation means their historical movements had little consistent relationship. NAARX charges 0.34%/yr vs 0.53%/yr for ASTEX.
Performance
NAARX vs. ASTEX - Performance Comparison
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Returns By Period
In the year-to-date period, NAARX achieves a 3.77% return, which is significantly higher than ASTEX's 0.62% return. Over the past 10 years, NAARX has outperformed ASTEX with an annualized return of 5.36%, while ASTEX has yielded a comparatively lower 1.49% annualized return.
NAARX
- 1D
- 0.31%
- 1M
- 0.00%
- 6M
- 2.01%
- YTD
- 3.77%
- 1Y
- 9.00%
- 3Y*
- 8.99%
- 5Y*
- 4.33%
- 10Y*
- 5.36%
- ALL TIME*
- 5.77%
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 |
NAARX vs. ASTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAARX American Funds Retirement Income Portfolio - Conservative | 3.77% | 13.24% | 6.80% | 6.89% | -10.04% | 8.51% | 8.40% | 13.11% | -2.76% | 8.89% |
ASTEX American Funds Short-Term Tax Exempt Bond Fund | 0.62% | 5.34% | 2.46% | 2.91% | -3.25% | -0.29% | 2.91% | 3.26% | 0.94% | 1.63% |
Correlation
The correlation between NAARX and ASTEX is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.20 |
The correlation between NAARX and ASTEX shifts across timeframes, from 0.20 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NAARX vs. ASTEX — Risk / Return Rank
NAARX
ASTEX
NAARX vs. ASTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Retirement Income Portfolio - Conservative (NAARX) 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.
| NAARX | ASTEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.53 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.10 | -0.40 |
| Martin ratioReturn relative to average drawdown | 6.77 | 6.39 | +0.37 |
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Drawdowns
NAARX vs. ASTEX - Drawdown Comparison
The maximum NAARX drawdown since its inception was -15.66%, which is greater than ASTEX's maximum drawdown of -5.73%. Use the drawdown chart below to compare losses from any high point for NAARX and ASTEX.
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Drawdown Indicators
| NAARX | ASTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.66% | -5.73% | -9.93% |
Max Drawdown (1Y)Largest decline over 1 year | -5.21% | -1.28% | -3.93% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -1.90% | -3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -15.66% | -5.62% | -10.04% |
Max Drawdown (10Y)Largest decline over 10 years | -15.66% | -5.73% | -9.93% |
Current DrawdownCurrent decline from peak | -0.22% | -0.69% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -0.70% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 0.42% | +0.89% |
Volatility
NAARX vs. ASTEX - Volatility Comparison
American Funds Retirement Income Portfolio - Conservative (NAARX) has a higher volatility of 1.21% compared to American Funds Short-Term Tax Exempt Bond Fund (ASTEX) at 0.39%. This indicates that NAARX'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
| NAARX | ASTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 0.39% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 4.30% | 1.11% | +3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.25% | 1.43% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 1.78% | +4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.40% | 1.65% | +4.75% |
NAARX vs. ASTEX - Expense Ratio Comparison
NAARX has a 0.34% expense ratio, which is lower than ASTEX's 0.53% expense ratio.
Dividends
NAARX vs. ASTEX - Dividend Comparison
NAARX's dividend yield for the trailing twelve months is around 2.76%, 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% |
NAARX American Funds Retirement Income Portfolio - Conservative | 2.76% | 3.27% | 3.37% | 3.17% | 3.19% | 2.98% | 3.84% | 3.28% | 3.33% | 2.23% | 2.21% | 0.00% |
Frequently Asked Questions
NAARX and ASTEX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAARX has higher volatility (1.21%) compared to ASTEX (0.39%). In terms of maximum drawdown, NAARX dropped -15.66% vs ASTEX's -5.73%.
ASTEX currently has the higher Sharpe Ratio (1.87 vs 1.69), 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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