STSGX vs. AGEPX

Last updated Jun 23, 2026

STSGX (American Beacon Stephens Small Cap Growth Fund) and AGEPX (American Beacon Frontier Markets Income Fund) are both mutual funds - STSGX is a Small Cap Growth Equities fund managed by American Beacon, while AGEPX is a Emerging Markets Bonds fund managed by American Beacon. Over the past 10 years, STSGX returned 12.29%/yr vs 7.70%/yr for AGEPX. At a 0.23 correlation, their price movements are largely independent. STSGX charges 1.30%/yr vs 1.38%/yr for AGEPX.

Performance

STSGX vs. AGEPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Stephens Small Cap Growth Fund (STSGX) and American Beacon Frontier Markets Income Fund (AGEPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STSGX achieves a 14.69% return, which is significantly higher than AGEPX's 7.58% return. Over the past 10 years, STSGX has outperformed AGEPX with an annualized return of 12.29%, while AGEPX has yielded a comparatively lower 7.70% annualized return.

STSGX

• 1D: 2.22%
• 1M: 1.77%
• YTD: 14.69%
• 6M: 11.63%
• 1Y: 30.13%
• 3Y*: 17.46%
• 5Y*: 6.03%
• 10Y*: 12.29%

AGEPX

• 1D: 0.13%
• 1M: 1.90%
• YTD: 7.58%
• 6M: 8.32%
• 1Y: 20.07%
• 3Y*: 16.73%
• 5Y*: 8.01%
• 10Y*: 7.70%

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

STSGX vs. AGEPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STSGX American Beacon Stephens Small Cap Growth Fund	14.69%	11.67%	15.45%	19.21%	-28.91%	14.26%	37.45%	22.54%	1.72%	19.23%
AGEPX American Beacon Frontier Markets Income Fund	7.58%	18.76%	15.58%	12.83%	-12.84%	6.64%	2.25%	13.10%	-3.51%	14.90%

Correlation

The correlation between STSGX and AGEPX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.23

Return for Risk

STSGX vs. AGEPX — Risk / Return Rank

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

STSGX

STSGX Risk / Return Rank: 33
STSGX Sharpe Ratio Rank: 30
STSGX Sortino Ratio Rank: 29
STSGX Omega Ratio Rank: 26
STSGX Calmar Ratio Rank: 40
STSGX Martin Ratio Rank: 40

AGEPX

AGEPX Risk / Return Rank: 98
AGEPX Sharpe Ratio Rank: 100
AGEPX Sortino Ratio Rank: 99
AGEPX Omega Ratio Rank: 99
AGEPX Calmar Ratio Rank: 97
AGEPX Martin Ratio Rank: 98

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.

STSGX vs. AGEPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Stephens Small Cap Growth Fund (STSGX) and American Beacon Frontier Markets Income Fund (AGEPX). 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.

	STSGX	AGEPX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	5.51	-4.04
Sortino ratio: Return per unit of downside risk	2.10	9.36	-7.26
Omega ratio: Gain probability vs. loss probability	1.25	2.47	-1.22
Calmar ratio: Return relative to maximum drawdown	2.30	6.41	-4.10
Martin ratio: Return relative to average drawdown	8.16	28.99	-20.83

STSGX vs. AGEPX - Sharpe Ratio Comparison

The current STSGX Sharpe Ratio is 1.47, which is lower than the AGEPX Sharpe Ratio of 5.51. The chart below compares the historical Sharpe Ratios of STSGX and AGEPX, 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

STSGX vs. AGEPX - Drawdown Comparison

The maximum STSGX drawdown since its inception was -56.50%, which is greater than AGEPX's maximum drawdown of -22.47%. Use the drawdown chart below to compare losses from any high point for STSGX and AGEPX.

Drawdown Indicators

	STSGX	AGEPX	Difference
Max Drawdown Largest peak-to-trough decline	-56.50%	-22.47%	-34.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-3.17%	-9.72%
Max Drawdown (3Y) Largest decline over 3 years	-24.81%	-4.80%	-20.01%
Max Drawdown (5Y) Largest decline over 5 years	-37.43%	-22.47%	-14.96%
Max Drawdown (10Y) Largest decline over 10 years	-37.66%	-22.47%	-15.19%
Current Drawdown Current decline from peak	-0.29%	0.00%	-0.29%
Average Drawdown Average peak-to-trough decline	-11.70%	-3.62%	-8.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	0.70%	+2.94%

Volatility

STSGX vs. AGEPX - Volatility Comparison

American Beacon Stephens Small Cap Growth Fund (STSGX) has a higher volatility of 7.30% compared to American Beacon Frontier Markets Income Fund (AGEPX) at 0.80%. This indicates that STSGX's price experiences larger fluctuations and is considered to be riskier than AGEPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STSGX	AGEPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	0.80%	+6.50%
Volatility (6M) Calculated over the trailing 6-month period	15.33%	3.02%	+12.31%
Volatility (1Y) Calculated over the trailing 1-year period	20.27%	3.69%	+16.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.06%	5.16%	+17.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.85%	4.97%	+17.88%

STSGX vs. AGEPX - Expense Ratio Comparison

STSGX has a 1.30% expense ratio, which is lower than AGEPX's 1.38% expense ratio.

Dividends

STSGX vs. AGEPX - Dividend Comparison

STSGX's dividend yield for the trailing twelve months is around 10.05%, more than AGEPX's 9.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGEPX American Beacon Frontier Markets Income Fund	9.51%	9.79%	11.92%	9.40%	7.26%	7.65%	7.07%	8.38%	9.55%	7.09%	8.28%	6.80%
STSGX American Beacon Stephens Small Cap Growth Fund	10.05%	11.53%	8.27%	1.52%	15.04%	23.70%	11.41%	11.76%	45.22%	3.68%	0.88%	5.01%

Frequently Asked Questions

Can I hold both STSGX and AGEPX in my portfolio?

STSGX and AGEPX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STSGX or AGEPX?

STSGX has higher volatility (7.30%) compared to AGEPX (0.80%). In terms of maximum drawdown, STSGX dropped -56.50% vs AGEPX's -22.47%.

Which has better risk-adjusted returns?

AGEPX currently has the higher Sharpe Ratio (5.51 vs 1.47), 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.