TIBAX vs. AAS.L

Last updated Jun 10, 2026

TIBAX (Thornburg Investment Income Builder Fund) is Global Allocation fund managed by Thornburg, while AAS.L (Abrdn Asia Focus plc) is a stock. Over the past 10 years, TIBAX returned 12.26%/yr vs 15.59%/yr for AAS.L. At a 0.39 correlation, their price movements are largely independent.

Performance

TIBAX vs. AAS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Investment Income Builder Fund (TIBAX) and Abrdn Asia Focus plc (AAS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TIBAX is traded in USD, while AAS.L is traded in GBp. To make them comparable, the AAS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with TIBAX having a 15.13% return and AAS.L slightly higher at 15.32%. Over the past 10 years, TIBAX has underperformed AAS.L with an annualized return of 12.26%, while AAS.L has yielded a comparatively higher 15.59% annualized return.

TIBAX

• 1D: 0.21%
• 1M: -0.58%
• YTD: 15.13%
• 6M: 18.56%
• 1Y: 35.71%
• 3Y*: 25.33%
• 5Y*: 15.57%
• 10Y*: 12.26%

AAS.L

• 1D: 0.53%
• 1M: -9.86%
• YTD: 15.32%
• 6M: 16.08%
• 1Y: 35.28%
• 3Y*: 23.45%
• 5Y*: 12.20%
• 10Y*: 15.59%

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

TIBAX vs. AAS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIBAX Thornburg Investment Income Builder Fund	15.13%	36.62%	13.23%	18.01%	-7.95%	20.08%	-0.67%	17.72%	-4.54%	14.83%
AAS.L Abrdn Asia Focus plc	15.32%	36.29%	11.27%	12.27%	-19.74%	26.89%	23.18%	21.30%	-1.23%	31.91%

Correlation

The correlation between TIBAX and AAS.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jul 6, 2007	0.39

Return for Risk

TIBAX vs. AAS.L — Risk / Return Rank

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

TIBAX

TIBAX Risk / Return Rank: 97
TIBAX Sharpe Ratio Rank: 99
TIBAX Sortino Ratio Rank: 98
TIBAX Omega Ratio Rank: 96
TIBAX Calmar Ratio Rank: 97
TIBAX Martin Ratio Rank: 97

AAS.L

AAS.L Risk / Return Rank: 87
AAS.L Sharpe Ratio Rank: 89
AAS.L Sortino Ratio Rank: 88
AAS.L Omega Ratio Rank: 88
AAS.L Calmar Ratio Rank: 83
AAS.L Martin Ratio Rank: 87

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.

TIBAX vs. AAS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Investment Income Builder Fund (TIBAX) and Abrdn Asia Focus plc (AAS.L). 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.

	TIBAX	AAS.L	Difference
Sharpe ratio: Return per unit of total volatility	4.14	1.73	+2.40
Sortino ratio: Return per unit of downside risk	5.82	2.46	+3.36
Omega ratio: Gain probability vs. loss probability	1.82	1.32	+0.50
Calmar ratio: Return relative to maximum drawdown	6.59	2.43	+4.16
Martin ratio: Return relative to average drawdown	25.39	8.22	+17.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIBAX vs. AAS.L - Sharpe Ratio Comparison

The current TIBAX Sharpe Ratio is 4.14, which is higher than the AAS.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of TIBAX and AAS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TIBAX	AAS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.14	1.73	+2.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	0.57	+0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.72	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.00	+0.79

Drawdowns

TIBAX vs. AAS.L - Drawdown Comparison

The maximum TIBAX drawdown since its inception was -49.12%, smaller than the maximum AAS.L drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for TIBAX and AAS.L.

Drawdown Indicators

	TIBAX	AAS.L	Difference
Max Drawdown Largest peak-to-trough decline	-49.12%	-99.97%	+50.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.43%	-14.44%	+9.01%
Max Drawdown (3Y) Largest decline over 3 years	-9.20%	-15.10%	+5.90%
Max Drawdown (5Y) Largest decline over 5 years	-20.94%	-36.12%	+15.18%
Max Drawdown (10Y) Largest decline over 10 years	-34.85%	-43.08%	+8.23%
Current Drawdown Current decline from peak	-2.36%	-82.44%	+80.08%
Average Drawdown Average peak-to-trough decline	-5.99%	-86.33%	+80.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	4.28%	-2.87%

Volatility

TIBAX vs. AAS.L - Volatility Comparison

The current volatility for Thornburg Investment Income Builder Fund (TIBAX) is 3.32%, while Abrdn Asia Focus plc (AAS.L) has a volatility of 7.20%. This indicates that TIBAX experiences smaller price fluctuations and is considered to be less risky than AAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIBAX	AAS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	7.20%	-3.88%
Volatility (6M) Calculated over the trailing 6-month period	7.23%	17.42%	-10.19%
Volatility (1Y) Calculated over the trailing 1-year period	8.67%	20.33%	-11.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.15%	21.54%	-10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.48%	21.59%	-8.11%

Dividends

TIBAX vs. AAS.L - Dividend Comparison

TIBAX's dividend yield for the trailing twelve months is around 4.97%, more than AAS.L's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAS.L Abrdn Asia Focus plc	1.53%	1.77%	2.53%	3.26%	4.11%	0.00%	8.14%	8.84%	8.40%	7.58%	5.54%	10.18%
TIBAX Thornburg Investment Income Builder Fund	4.97%	5.64%	5.44%	4.67%	5.62%	5.10%	4.11%	4.23%	4.49%	4.22%	3.83%	4.31%

Frequently Asked Questions

Can I hold both TIBAX and AAS.L in my portfolio?

TIBAX and AAS.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.