RIDGX vs. HGLB
RIDGX (American Funds Income Fund of America Class R-6) and HGLB (Highland Global Allocation Fund) are both Global Allocation funds. Over the past 5 years, RIDGX returned 8.59%/yr vs 7.24%/yr for HGLB. Their 0.41 correlation means their historical movements had little consistent relationship. RIDGX charges 0.26%/yr vs 0.02%/yr for HGLB.
Performance
RIDGX vs. HGLB - Performance Comparison
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Returns By Period
In the year-to-date period, RIDGX achieves a 8.66% return, which is significantly higher than HGLB's -10.71% return.
RIDGX
- 1D
- 0.11%
- 1M
- 1.27%
- 6M
- 4.27%
- YTD
- 8.66%
- 1Y
- 15.65%
- 3Y*
- 14.09%
- 5Y*
- 8.59%
- 10Y*
- 8.68%
- ALL TIME*
- 9.08%
HGLB
- 1D
- 0.66%
- 1M
- -0.02%
- 6M
- -7.93%
- YTD
- -10.71%
- 1Y
- 2.83%
- 3Y*
- 8.57%
- 5Y*
- 7.24%
- 10Y*
- —
- ALL TIME*
- 2.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $542.62K | $586.65K | $709.82K | |
| $0.00 | $0.00 | $0.00 |
RIDGX vs. HGLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RIDGX American Funds Income Fund of America Class R-6 | 8.66% | 18.12% | 11.22% | 7.04% | -6.15% | 17.72% | 5.24% | 12.26% |
HGLB Highland Global Allocation Fund | -10.71% | 51.74% | -1.52% | -6.15% | 14.53% | 53.22% | -17.98% | -31.46% |
Correlation
The correlation between RIDGX and HGLB is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.41 |
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Return for Risk
RIDGX vs. HGLB — Risk / Return Rank
RIDGX
HGLB
RIDGX vs. HGLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Income Fund of America Class R-6 (RIDGX) and Highland Global Allocation Fund (HGLB). 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.
| RIDGX | HGLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.05 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 0.12 | +2.63 |
| Martin ratioReturn relative to average drawdown | 10.18 | 0.20 | +9.98 |
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Drawdowns
RIDGX vs. HGLB - Drawdown Comparison
The maximum RIDGX drawdown since its inception was -26.09%, smaller than the maximum HGLB drawdown of -70.40%. Use the drawdown chart below to compare losses from any high point for RIDGX and HGLB.
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Drawdown Indicators
| RIDGX | HGLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.09% | -70.40% | +44.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.09% | -24.13% | +18.04% |
Max Drawdown (3Y)Largest decline over 3 years | -8.58% | -24.13% | +15.55% |
Max Drawdown (5Y)Largest decline over 5 years | -15.62% | -29.88% | +14.26% |
Max Drawdown (10Y)Largest decline over 10 years | -26.09% | — | — |
Current DrawdownCurrent decline from peak | -0.14% | -20.56% | +20.42% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -18.26% | +15.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 14.01% | -12.37% |
Volatility
RIDGX vs. HGLB - Volatility Comparison
The current volatility for American Funds Income Fund of America Class R-6 (RIDGX) is 1.66%, while Highland Global Allocation Fund (HGLB) has a volatility of 4.47%. This indicates that RIDGX experiences smaller price fluctuations and is considered to be less risky than HGLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RIDGX | HGLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 4.47% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 5.87% | 13.08% | -7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.39% | 21.17% | -13.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.45% | 22.18% | -12.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.64% | 27.49% | -16.85% |
RIDGX vs. HGLB - Expense Ratio Comparison
RIDGX has a 0.26% expense ratio, which is higher than HGLB's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
RIDGX vs. HGLB - Dividend Comparison
RIDGX's dividend yield for the trailing twelve months is around 9.57%, less than HGLB's 13.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HGLB Highland Global Allocation Fund | 13.65% | 11.57% | 14.27% | 12.82% | 10.32% | 9.39% | 15.44% | 11.35% | 0.00% | 0.00% | 0.00% | 0.00% |
RIDGX American Funds Income Fund of America Class R-6 | 9.57% | 10.25% | 6.69% | 3.16% | 7.31% | 6.97% | 3.49% | 5.29% | 7.78% | 4.46% | 3.37% | 5.38% |
Frequently Asked Questions
RIDGX and HGLB have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGLB has higher volatility (4.47%) compared to RIDGX (1.66%). In terms of maximum drawdown, RIDGX dropped -26.09% vs HGLB's -70.40%.
RIDGX currently has the higher Sharpe Ratio (2.27 vs 0.13), 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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