TWEIX vs. TWHIX

Last updated Aug 4, 2026

TWEIX (American Century Equity Income Fund) and TWHIX (American Century Heritage Fund) are both mutual funds - TWEIX is a Dividend fund managed by American Century, while TWHIX is a Mid Cap Growth Equities fund managed by American Century. Over the past 10 years, TWEIX returned 8.99%/yr vs 11.38%/yr for TWHIX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. TWEIX charges 0.94%/yr vs 1.00%/yr for TWHIX.

Performance

TWEIX vs. TWHIX - Performance Comparison

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

Returns By Period

In the year-to-date period, TWEIX achieves a 13.18% return, which is significantly higher than TWHIX's 2.89% return. Over the past 10 years, TWEIX has underperformed TWHIX with an annualized return of 8.99%, while TWHIX has yielded a comparatively higher 11.38% annualized return.

TWEIX

• 1D: 0.00%
• 1M: 2.27%
• 6M: 8.31%
• YTD: 13.18%
• 1Y: 19.64%
• 3Y*: 11.74%
• 5Y*: 7.98%
• 10Y*: 8.99%
• ALL TIME*: 10.15%

TWHIX

• 1D: -0.23%
• 1M: -4.21%
• 6M: 2.25%
• YTD: 2.89%
• 1Y: 0.13%
• 3Y*: 11.82%
• 5Y*: 3.26%
• 10Y*: 11.38%
• ALL TIME*: 10.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TWEIX American Century Equity Income Fund	$0.00	$0.00	$0.00
TWHIX American Century Heritage Fund	$0.00	$0.00	$0.00

TWEIX vs. TWHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWEIX American Century Equity Income Fund	13.18%	11.84%	10.51%	3.92%	-3.06%	16.83%	1.10%	24.14%	-3.77%	13.35%
TWHIX American Century Heritage Fund	2.89%	6.53%	24.66%	20.64%	-28.13%	11.52%	42.61%	35.50%	-5.08%	21.83%

Correlation

The correlation between TWEIX and TWHIX is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.46
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Jul 29, 1994	0.71

Over the past year, the correlation between TWEIX and TWHIX has dropped to 0.39 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

TWEIX vs. TWHIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TWEIX

TWEIX Risk / Return Rank: 84
TWEIX Sharpe Ratio Rank: 89
TWEIX Sortino Ratio Rank: 90
TWEIX Omega Ratio Rank: 82
TWEIX Calmar Ratio Rank: 84
TWEIX Martin Ratio Rank: 76

TWHIX

TWHIX Risk / Return Rank: 3
TWHIX Sharpe Ratio Rank: 3
TWHIX Sortino Ratio Rank: 4
TWHIX Omega Ratio Rank: 3
TWHIX Calmar Ratio Rank: 3
TWHIX Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TWEIX vs. TWHIX - Risk-Adjusted Trends Comparison

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

	TWEIX	TWHIX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	-0.08	+2.31
Sortino ratio: Return per unit of downside risk	3.40	0.02	+3.39
Omega ratio: Gain probability vs. loss probability	1.39	1.00	+0.39
Calmar ratio: Return relative to maximum drawdown	2.96	-0.10	+3.06
Martin ratio: Return relative to average drawdown	9.77	-0.27	+10.04

TWEIX vs. TWHIX - Sharpe Ratio Comparison

The current TWEIX Sharpe Ratio is 2.23, which is higher than the TWHIX Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of TWEIX and TWHIX, 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

TWEIX vs. TWHIX - Drawdown Comparison

The maximum TWEIX drawdown since its inception was -39.30%, smaller than the maximum TWHIX drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for TWEIX and TWHIX.

Drawdown Indicators

	TWEIX	TWHIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-56.98%	+17.68%
Max Drawdown (1Y) Largest decline over 1 year	-6.43%	-15.82%	+9.39%
Max Drawdown (3Y) Largest decline over 3 years	-10.16%	-26.30%	+16.14%
Max Drawdown (5Y) Largest decline over 5 years	-13.69%	-40.34%	+26.65%
Max Drawdown (10Y) Largest decline over 10 years	-32.82%	-40.34%	+7.52%
Current Drawdown Current decline from peak	-0.63%	-5.40%	+4.77%
Average Drawdown Average peak-to-trough decline	-4.14%	-12.21%	+8.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	5.56%	-3.62%

Volatility

TWEIX vs. TWHIX - Volatility Comparison

The current volatility for American Century Equity Income Fund (TWEIX) is 2.85%, while American Century Heritage Fund (TWHIX) has a volatility of 4.81%. This indicates that TWEIX experiences smaller price fluctuations and is considered to be less risky than TWHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWEIX	TWHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	4.81%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	14.77%	-8.21%
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	18.52%	-9.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.74%	23.40%	-12.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	22.85%	-9.53%

TWEIX vs. TWHIX - Expense Ratio Comparison

TWEIX has a 0.94% expense ratio, which is lower than TWHIX's 1.00% expense ratio.

Dividends

TWEIX vs. TWHIX - Dividend Comparison

TWEIX's dividend yield for the trailing twelve months is around 9.31%, less than TWHIX's 21.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TWEIX American Century Equity Income Fund	9.31%	10.35%	11.51%	8.02%	8.76%	6.83%	2.00%	7.38%	8.79%	11.95%	7.88%	10.49%
TWHIX American Century Heritage Fund	21.52%	22.14%	15.58%	0.78%	0.98%	12.00%	13.72%	11.32%	25.33%	9.38%	8.71%	0.00%

Frequently Asked Questions

Can I hold both TWEIX and TWHIX in my portfolio?

TWEIX and TWHIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWEIX or TWHIX?

TWHIX has higher volatility (4.81%) compared to TWEIX (2.85%). In terms of maximum drawdown, TWEIX dropped -39.30% vs TWHIX's -56.98%.

Which has better risk-adjusted returns?

TWEIX currently has the higher Sharpe Ratio (2.23 vs -0.08), 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.