TAFTX vs. AMECX
Compare and contrast key facts about American Funds Tax-Exempt Fund of California (TAFTX) and American Funds The Income Fund of America Class A (AMECX).
TAFTX is managed by American Funds. It was launched on Oct 27, 1986. AMECX is managed by American Funds. It was launched on Dec 1, 1973.
Performance
TAFTX vs. AMECX - Performance Comparison
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TAFTX vs. AMECX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | -0.82% | 4.73% | 2.31% | 5.76% | -9.78% | 1.88% | 4.43% | 7.33% | 0.71% | 5.96% |
AMECX American Funds The Income Fund of America Class A | 1.48% | 17.77% | 10.84% | 6.79% | -6.40% | 17.37% | 4.49% | 18.50% | -5.27% | 12.58% |
Returns By Period
In the year-to-date period, TAFTX achieves a -0.82% return, which is significantly lower than AMECX's 1.48% return. Over the past 10 years, TAFTX has underperformed AMECX with an annualized return of 1.95%, while AMECX has yielded a comparatively higher 8.21% annualized return.
TAFTX
- 1D
- 0.24%
- 1M
- -2.81%
- YTD
- -0.82%
- 6M
- 0.72%
- 1Y
- 3.49%
- 3Y*
- 3.14%
- 5Y*
- 0.67%
- 10Y*
- 1.95%
AMECX
- 1D
- 0.23%
- 1M
- -5.74%
- YTD
- 1.48%
- 6M
- 4.22%
- 1Y
- 14.19%
- 3Y*
- 11.95%
- 5Y*
- 7.95%
- 10Y*
- 8.21%
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TAFTX vs. AMECX - Expense Ratio Comparison
TAFTX has a 0.57% expense ratio, which is higher than AMECX's 0.56% expense ratio.
Return for Risk
TAFTX vs. AMECX — Risk / Return Rank
TAFTX
AMECX
TAFTX vs. AMECX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Tax-Exempt Fund of California (TAFTX) and American Funds The Income Fund of America Class A (AMECX). 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.
| TAFTX | AMECX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 1.55 | -0.72 |
Sortino ratioReturn per unit of downside risk | 1.13 | 2.13 | -1.00 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.32 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.71 | -0.82 |
Martin ratioReturn relative to average drawdown | 2.81 | 8.01 | -5.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TAFTX | AMECX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 1.55 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.85 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.77 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | 0.72 | +0.55 |
Correlation
The correlation between TAFTX and AMECX is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TAFTX vs. AMECX - Dividend Comparison
TAFTX's dividend yield for the trailing twelve months is around 3.05%, less than AMECX's 9.86% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | 3.05% | 3.96% | 2.64% | 2.19% | 1.82% | 2.19% | 2.65% | 3.15% | 2.93% | 2.95% | 3.13% | 3.32% |
AMECX American Funds The Income Fund of America Class A | 9.86% | 9.94% | 6.38% | 2.93% | 6.98% | 6.67% | 2.80% | 5.01% | 7.48% | 4.26% | 3.09% | 5.09% |
Drawdowns
TAFTX vs. AMECX - Drawdown Comparison
The maximum TAFTX drawdown since its inception was -18.83%, smaller than the maximum AMECX drawdown of -41.92%. Use the drawdown chart below to compare losses from any high point for TAFTX and AMECX.
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Drawdown Indicators
| TAFTX | AMECX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.83% | -41.92% | +23.09% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -8.19% | +2.99% |
Max Drawdown (5Y)Largest decline over 5 years | -14.82% | -15.78% | +0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -14.82% | -26.13% | +11.31% |
Current DrawdownCurrent decline from peak | -2.81% | -5.74% | +2.93% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -4.46% | +2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.74% | -0.11% |
Volatility
TAFTX vs. AMECX - Volatility Comparison
The current volatility for American Funds Tax-Exempt Fund of California (TAFTX) is 1.13%, while American Funds The Income Fund of America Class A (AMECX) has a volatility of 2.94%. This indicates that TAFTX experiences smaller price fluctuations and is considered to be less risky than AMECX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAFTX | AMECX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 2.94% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 5.49% | -3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.18% | 9.48% | -4.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 9.44% | -5.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.90% | 10.66% | -6.76% |