TWHIX vs. ABHYX
TWHIX (American Century Heritage Fund) and ABHYX (American Century High-Yield Municipal Fund) are both mutual funds - TWHIX is a Mid Cap Growth Equities fund managed by American Century, while ABHYX is a High Yield Muni fund managed by American Century. Over the past 10 years, TWHIX returned 12.31%/yr vs 2.79%/yr for ABHYX. At a correlation of -0.06, they often move in opposite directions. TWHIX charges 1.00%/yr vs 0.59%/yr for ABHYX.
Performance
TWHIX vs. ABHYX - Performance Comparison
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Returns By Period
In the year-to-date period, TWHIX achieves a 5.49% return, which is significantly higher than ABHYX's 2.50% return. Over the past 10 years, TWHIX has outperformed ABHYX with an annualized return of 12.31%, while ABHYX has yielded a comparatively lower 2.79% annualized return.
TWHIX
- 1D
- 0.23%
- 1M
- 3.15%
- YTD
- 5.49%
- 6M
- 3.35%
- 1Y
- 5.33%
- 3Y*
- 14.95%
- 5Y*
- 4.74%
- 10Y*
- 12.31%
ABHYX
- 1D
- 0.00%
- 1M
- 1.97%
- YTD
- 2.50%
- 6M
- 3.11%
- 1Y
- 7.67%
- 3Y*
- 5.20%
- 5Y*
- 0.81%
- 10Y*
- 2.79%
TWHIX vs. ABHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TWHIX American Century Heritage Fund | 5.49% | 6.53% | 24.66% | 20.64% | -28.13% | 11.52% | 42.61% | 35.50% | -5.08% | 21.83% |
ABHYX American Century High-Yield Municipal Fund | 2.50% | 3.77% | 6.16% | 5.90% | -13.90% | 5.61% | 4.68% | 9.72% | 1.48% | 9.27% |
Correlation
The correlation between TWHIX and ABHYX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 1998 | -0.06 |
The correlation between TWHIX and ABHYX shifts across timeframes, from -0.06 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TWHIX vs. ABHYX — Risk / Return Rank
TWHIX
ABHYX
TWHIX vs. ABHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Heritage Fund (TWHIX) and American Century High-Yield Municipal Fund (ABHYX). 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.
| TWHIX | ABHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.58 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 2.48 | -2.08 |
| Martin ratioReturn relative to average drawdown | 1.15 | 8.43 | -7.28 |
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Drawdowns
TWHIX vs. ABHYX - Drawdown Comparison
The maximum TWHIX drawdown since its inception was -56.98%, which is greater than ABHYX's maximum drawdown of -26.34%. Use the drawdown chart below to compare losses from any high point for TWHIX and ABHYX.
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Drawdown Indicators
| TWHIX | ABHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.98% | -26.34% | -30.64% |
Max Drawdown (1Y)Largest decline over 1 year | -15.82% | -3.16% | -12.66% |
Max Drawdown (3Y)Largest decline over 3 years | -26.30% | -7.40% | -18.90% |
Max Drawdown (5Y)Largest decline over 5 years | -40.34% | -18.54% | -21.80% |
Max Drawdown (10Y)Largest decline over 10 years | -40.34% | -18.54% | -21.80% |
Current DrawdownCurrent decline from peak | -1.39% | 0.00% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -12.23% | -3.10% | -9.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.46% | 0.93% | +4.53% |
Volatility
TWHIX vs. ABHYX - Volatility Comparison
American Century Heritage Fund (TWHIX) has a higher volatility of 6.44% compared to American Century High-Yield Municipal Fund (ABHYX) at 0.87%. This indicates that TWHIX's price experiences larger fluctuations and is considered to be riskier than ABHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TWHIX | ABHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.44% | 0.87% | +5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 2.43% | +12.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.11% | 3.32% | +14.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.35% | 4.95% | +18.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.88% | 4.98% | +17.90% |
TWHIX vs. ABHYX - Expense Ratio Comparison
TWHIX has a 1.00% expense ratio, which is higher than ABHYX's 0.59% expense ratio.
Dividends
TWHIX vs. ABHYX - Dividend Comparison
TWHIX's dividend yield for the trailing twelve months is around 20.99%, more than ABHYX's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABHYX American Century High-Yield Municipal Fund | 4.31% | 5.11% | 4.96% | 4.02% | 2.77% | 3.50% | 3.35% | 4.08% | 3.90% | 3.61% | 3.61% | 3.91% |
TWHIX American Century Heritage Fund | 20.99% | 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
TWHIX and ABHYX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TWHIX has higher volatility (6.44%) compared to ABHYX (0.87%). In terms of maximum drawdown, TWHIX dropped -56.98% vs ABHYX's -26.34%.
ABHYX currently has the higher Sharpe Ratio (2.36 vs 0.35), 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.
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