NPHIX vs. BULIX

Last updated Jun 24, 2026

NPHIX (American Century High Income Fund) and BULIX (American Century Utilities Fund) are both mutual funds - NPHIX is a High Yield Bonds fund managed by American Century, while BULIX is a Utilities Equities fund managed by American Century. Over the past 10 years, NPHIX returned 5.43%/yr vs 6.92%/yr for BULIX. At a 0.27 correlation, their price movements are largely independent. NPHIX charges 0.58%/yr vs 0.65%/yr for BULIX.

Performance

NPHIX vs. BULIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century High Income Fund (NPHIX) and American Century Utilities Fund (BULIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NPHIX achieves a 1.32% return, which is significantly lower than BULIX's 6.99% return. Over the past 10 years, NPHIX has underperformed BULIX with an annualized return of 5.43%, while BULIX has yielded a comparatively higher 6.92% annualized return.

NPHIX

• 1D: 0.00%
• 1M: 0.56%
• YTD: 1.32%
• 6M: 2.00%
• 1Y: 6.95%
• 3Y*: 8.35%
• 5Y*: 3.40%
• 10Y*: 5.43%

BULIX

• 1D: 0.36%
• 1M: -0.64%
• YTD: 6.99%
• 6M: 7.34%
• 1Y: 14.07%
• 3Y*: 15.89%
• 5Y*: 9.17%
• 10Y*: 6.92%

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

NPHIX vs. BULIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NPHIX American Century High Income Fund	1.32%	8.86%	6.92%	12.05%	-12.59%	6.12%	8.03%	12.70%	-1.98%	7.02%
BULIX American Century Utilities Fund	6.99%	16.76%	24.32%	-7.51%	-4.37%	13.77%	-2.38%	19.94%	1.82%	0.59%

Correlation

The correlation between NPHIX and BULIX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.27

The correlation between NPHIX and BULIX shifts across timeframes, from 0.21 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NPHIX vs. BULIX — Risk / Return Rank

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

NPHIX

NPHIX Risk / Return Rank: 72
NPHIX Sharpe Ratio Rank: 59
NPHIX Sortino Ratio Rank: 82
NPHIX Omega Ratio Rank: 79
NPHIX Calmar Ratio Rank: 59
NPHIX Martin Ratio Rank: 81

BULIX

BULIX Risk / Return Rank: 18
BULIX Sharpe Ratio Rank: 18
BULIX Sortino Ratio Rank: 16
BULIX Omega Ratio Rank: 16
BULIX Calmar Ratio Rank: 25
BULIX Martin Ratio Rank: 16

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.

NPHIX vs. BULIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century High Income Fund (NPHIX) and American Century Utilities Fund (BULIX). 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.

	NPHIX	BULIX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.12	+0.97
Sortino ratio: Return per unit of downside risk	3.57	1.56	+2.01
Omega ratio: Gain probability vs. loss probability	1.47	1.20	+0.27
Calmar ratio: Return relative to maximum drawdown	2.82	1.75	+1.07
Martin ratio: Return relative to average drawdown	14.06	4.00	+10.06

NPHIX vs. BULIX - Sharpe Ratio Comparison

The current NPHIX Sharpe Ratio is 2.08, which is higher than the BULIX Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of NPHIX and BULIX, 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

NPHIX vs. BULIX - Drawdown Comparison

The maximum NPHIX drawdown since its inception was -21.67%, smaller than the maximum BULIX drawdown of -55.21%. Use the drawdown chart below to compare losses from any high point for NPHIX and BULIX.

Drawdown Indicators

	NPHIX	BULIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-55.21%	+33.54%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-8.93%	+6.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.94%	-16.54%	+12.60%
Max Drawdown (5Y) Largest decline over 5 years	-16.34%	-24.56%	+8.22%
Max Drawdown (10Y) Largest decline over 10 years	-21.67%	-33.86%	+12.19%
Current Drawdown Current decline from peak	-0.23%	-5.08%	+4.85%
Average Drawdown Average peak-to-trough decline	-2.51%	-10.02%	+7.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	3.89%	-3.39%

Volatility

NPHIX vs. BULIX - Volatility Comparison

The current volatility for American Century High Income Fund (NPHIX) is 0.91%, while American Century Utilities Fund (BULIX) has a volatility of 5.08%. This indicates that NPHIX experiences smaller price fluctuations and is considered to be less risky than BULIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPHIX	BULIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	5.08%	-4.17%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	11.15%	-8.55%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	14.00%	-10.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.29%	16.70%	-11.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.64%	18.07%	-12.43%

NPHIX vs. BULIX - Expense Ratio Comparison

NPHIX has a 0.58% expense ratio, which is lower than BULIX's 0.65% expense ratio.

Dividends

NPHIX vs. BULIX - Dividend Comparison

NPHIX's dividend yield for the trailing twelve months is around 6.76%, less than BULIX's 11.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BULIX American Century Utilities Fund	11.12%	11.60%	2.36%	2.65%	7.78%	7.50%	7.55%	2.97%	6.91%	7.70%	6.99%	5.87%
NPHIX American Century High Income Fund	6.76%	6.69%	6.07%	4.81%	4.95%	5.77%	5.35%	5.54%	6.24%	5.87%	5.72%	7.44%

Frequently Asked Questions

Can I hold both NPHIX and BULIX in my portfolio?

NPHIX and BULIX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NPHIX or BULIX?

BULIX has higher volatility (5.08%) compared to NPHIX (0.91%). In terms of maximum drawdown, NPHIX dropped -21.67% vs BULIX's -55.21%.

Which has better risk-adjusted returns?

NPHIX currently has the higher Sharpe Ratio (2.08 vs 1.12), 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.