OIFIX vs. AMFIX

Last updated Jun 25, 2026

OIFIX (Optimum Fixed Income Fund) and AMFIX (AAMA Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, OIFIX returned -0.08%/yr vs 0.77%/yr for AMFIX. Their correlation of 0.81 suggests significant overlap in exposure. OIFIX charges 0.80%/yr vs 0.92%/yr for AMFIX.

Performance

OIFIX vs. AMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Optimum Fixed Income Fund (OIFIX) 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, OIFIX achieves a 0.24% return, which is significantly lower than AMFIX's 0.26% return.

OIFIX

• 1D: 0.00%
• 1M: 0.73%
• YTD: 0.24%
• 6M: 0.24%
• 1Y: 4.26%
• 3Y*: 4.25%
• 5Y*: -0.08%
• 10Y*: 2.03%

AMFIX

• 1D: 0.08%
• 1M: 0.17%
• YTD: 0.26%
• 6M: 0.32%
• 1Y: 2.19%
• 3Y*: 3.29%
• 5Y*: 0.77%
• 10Y*: —

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

OIFIX vs. AMFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OIFIX Optimum Fixed Income Fund	0.24%	7.64%	1.49%	5.90%	-13.96%	-1.78%	11.14%	8.63%	-0.70%	-0.04%
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 OIFIX 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 30, 2017	0.81

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

Return for Risk

OIFIX vs. AMFIX — Risk / Return Rank

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

OIFIX

OIFIX Risk / Return Rank: 22
OIFIX Sharpe Ratio Rank: 22
OIFIX Sortino Ratio Rank: 23
OIFIX Omega Ratio Rank: 20
OIFIX Calmar Ratio Rank: 22
OIFIX Martin Ratio Rank: 21

AMFIX

AMFIX Risk / Return Rank: 60
AMFIX Sharpe Ratio Rank: 56
AMFIX Sortino Ratio Rank: 64
AMFIX Omega Ratio Rank: 66
AMFIX Calmar Ratio Rank: 69
AMFIX Martin Ratio Rank: 47

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.

OIFIX vs. AMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Optimum Fixed Income Fund (OIFIX) 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.

	OIFIX	AMFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.97	-0.80
Sortino ratio: Return per unit of downside risk	1.75	2.96	-1.22
Omega ratio: Gain probability vs. loss probability	1.21	1.40	-0.19
Calmar ratio: Return relative to maximum drawdown	1.53	2.97	-1.44
Martin ratio: Return relative to average drawdown	4.48	9.04	-4.56

OIFIX vs. AMFIX - Sharpe Ratio Comparison

The current OIFIX Sharpe Ratio is 1.17, which is lower than the AMFIX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of OIFIX 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

OIFIX vs. AMFIX - Drawdown Comparison

The maximum OIFIX drawdown since its inception was -19.46%, which is greater than AMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for OIFIX and AMFIX.

Drawdown Indicators

	OIFIX	AMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-9.35%	-10.11%
Max Drawdown (1Y) Largest decline over 1 year	-2.96%	-0.74%	-2.22%
Max Drawdown (3Y) Largest decline over 3 years	-6.67%	-0.88%	-5.79%
Max Drawdown (5Y) Largest decline over 5 years	-19.30%	-8.91%	-10.39%
Max Drawdown (10Y) Largest decline over 10 years	-19.46%	—	—
Current Drawdown Current decline from peak	-1.99%	-0.44%	-1.55%
Average Drawdown Average peak-to-trough decline	-2.93%	-2.01%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	0.24%	+0.77%

Volatility

OIFIX vs. AMFIX - Volatility Comparison

Optimum Fixed Income Fund (OIFIX) has a higher volatility of 1.12% compared to AAMA Income Fund (AMFIX) at 0.46%. This indicates that OIFIX'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

	OIFIX	AMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	0.46%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	0.92%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	1.12%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.91%	2.18%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	1.74%	+3.14%

OIFIX vs. AMFIX - Expense Ratio Comparison

OIFIX has a 0.80% expense ratio, which is lower than AMFIX's 0.92% expense ratio.

Dividends

OIFIX vs. AMFIX - Dividend Comparison

OIFIX's dividend yield for the trailing twelve months is around 3.85%, 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%
OIFIX Optimum Fixed Income Fund	3.85%	3.86%	3.97%	3.23%	3.42%	2.21%	6.88%	3.22%	2.43%	2.50%	2.17%	3.24%

Frequently Asked Questions

Can I hold both OIFIX and AMFIX in my portfolio?

OIFIX 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, OIFIX or AMFIX?

OIFIX has higher volatility (1.12%) compared to AMFIX (0.46%). In terms of maximum drawdown, OIFIX dropped -19.46% vs AMFIX's -9.35%.

Which has better risk-adjusted returns?

AMFIX currently has the higher Sharpe Ratio (1.97 vs 1.17), 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.