TWEIX vs. ACIIX

Last updated Jun 4, 2026

TWEIX (American Century Equity Income Fund) and ACIIX (American Century Equity Income Fund Class I) are both Large Cap Value Equities funds from American Century. Over the past 10 years, TWEIX returned 8.65%/yr vs 8.88%/yr for ACIIX. With a 0.99 correlation, they move nearly in lockstep. TWEIX charges 0.94%/yr vs 0.72%/yr for ACIIX.

Performance

TWEIX vs. ACIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Equity Income Fund (TWEIX) and American Century Equity Income Fund Class I (ACIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TWEIX having a 6.14% return and ACIIX slightly higher at 6.29%. Both investments have delivered pretty close results over the past 10 years, with TWEIX having a 8.65% annualized return and ACIIX not far ahead at 8.88%.

TWEIX

• 1D: 0.56%
• 1M: 0.11%
• YTD: 6.14%
• 6M: 6.61%
• 1Y: 15.26%
• 3Y*: 10.63%
• 5Y*: 6.89%
• 10Y*: 8.65%

ACIIX

• 1D: 0.56%
• 1M: 0.11%
• YTD: 6.29%
• 6M: 6.70%
• 1Y: 15.45%
• 3Y*: 10.83%
• 5Y*: 7.10%
• 10Y*: 8.88%

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

TWEIX vs. ACIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWEIX American Century Equity Income Fund	6.14%	11.84%	10.51%	3.92%	-3.06%	16.83%	1.10%	24.14%	-3.77%	13.35%
ACIIX American Century Equity Income Fund Class I	6.29%	12.05%	10.58%	4.25%	-2.96%	17.16%	1.19%	24.50%	-3.53%	13.69%

Correlation

The correlation between TWEIX and ACIIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jul 9, 1998	0.99

The correlation between TWEIX and ACIIX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

TWEIX vs. ACIIX — Risk / Return Rank

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

TWEIX

TWEIX Risk / Return Rank: 41
TWEIX Sharpe Ratio Rank: 42
TWEIX Sortino Ratio Rank: 46
TWEIX Omega Ratio Rank: 38
TWEIX Calmar Ratio Rank: 42
TWEIX Martin Ratio Rank: 37

ACIIX

ACIIX Risk / Return Rank: 42
ACIIX Sharpe Ratio Rank: 42
ACIIX Sortino Ratio Rank: 46
ACIIX Omega Ratio Rank: 39
ACIIX Calmar Ratio Rank: 43
ACIIX Martin Ratio Rank: 37

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.

TWEIX vs. ACIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Equity Income Fund (TWEIX) and American Century Equity Income Fund Class I (ACIIX). 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.

	TWEIX	ACIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.90	-0.02
Sortino ratio: Return per unit of downside risk	2.84	2.85	-0.01
Omega ratio: Gain probability vs. loss probability	1.33	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.45	2.50	-0.05
Martin ratio: Return relative to average drawdown	8.07	8.21	-0.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWEIX vs. ACIIX - Sharpe Ratio Comparison

The current TWEIX Sharpe Ratio is 1.88, which is comparable to the ACIIX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of TWEIX and ACIIX, 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

	TWEIX	ACIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.90	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.66	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.67	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.54	+0.22

Drawdowns

TWEIX vs. ACIIX - Drawdown Comparison

The maximum TWEIX drawdown since its inception was -39.30%, roughly equal to the maximum ACIIX drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for TWEIX and ACIIX.

Drawdown Indicators

	TWEIX	ACIIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-39.16%	-0.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.43%	-6.38%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-10.16%	-10.15%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-13.69%	-13.49%	-0.20%
Max Drawdown (10Y) Largest decline over 10 years	-32.82%	-32.76%	-0.06%
Current Drawdown Current decline from peak	-2.51%	-2.46%	-0.05%
Average Drawdown Average peak-to-trough decline	-4.16%	-5.24%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.94%	+0.01%

Volatility

TWEIX vs. ACIIX - Volatility Comparison

American Century Equity Income Fund (TWEIX) and American Century Equity Income Fund Class I (ACIIX) have volatilities of 2.20% and 2.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWEIX	ACIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	2.19%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	6.11%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	8.37%	8.37%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.74%	10.76%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.36%	13.38%	-0.02%

TWEIX vs. ACIIX - Expense Ratio Comparison

TWEIX has a 0.94% expense ratio, which is higher than ACIIX's 0.72% expense ratio.

Dividends

TWEIX vs. ACIIX - Dividend Comparison

TWEIX's dividend yield for the trailing twelve months is around 9.77%, less than ACIIX's 9.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACIIX American Century Equity Income Fund Class I	9.94%	10.55%	11.71%	8.21%	8.96%	7.02%	2.18%	7.57%	9.05%	12.14%	8.08%	10.72%
TWEIX American Century Equity Income Fund	9.77%	10.35%	11.51%	8.02%	8.76%	6.83%	2.00%	7.38%	8.79%	11.95%	7.88%	10.49%

Frequently Asked Questions

Can I hold both TWEIX and ACIIX in my portfolio?

With a correlation of 0.99, TWEIX and ACIIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TWEIX or ACIIX?

TWEIX has higher volatility (2.20%) compared to ACIIX (2.19%). In terms of maximum drawdown, TWEIX dropped -39.30% vs ACIIX's -39.16%.

Which has better risk-adjusted returns?

ACIIX currently has the higher Sharpe Ratio (1.90 vs 1.88), 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.