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 11.27%/yr vs 2.61%/yr for ABHYX. Their -0.05 correlation means they have often moved in opposite directions in the past. 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 3.13% return, which is significantly higher than ABHYX's 1.21% return. Over the past 10 years, TWHIX has outperformed ABHYX with an annualized return of 11.27%, while ABHYX has yielded a comparatively lower 2.61% annualized return.
TWHIX
- 1D
- 2.10%
- 1M
- -3.99%
- 6M
- 3.23%
- YTD
- 3.13%
- 1Y
- 0.36%
- 3Y*
- 11.89%
- 5Y*
- 3.31%
- 10Y*
- 11.27%
- ALL TIME*
- 10.98%
ABHYX
- 1D
- -0.35%
- 1M
- -2.15%
- 6M
- 0.61%
- YTD
- 1.21%
- 1Y
- 6.52%
- 3Y*
- 4.69%
- 5Y*
- 0.30%
- 10Y*
- 2.61%
- ALL TIME*
- 4.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TWHIX vs. ABHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TWHIX American Century Heritage Fund | 3.13% | 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 | 1.21% | 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 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 1998 | -0.05 |
The correlation between TWHIX and ABHYX shifts across timeframes, from -0.05 (all time) to 0.23 (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 | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.55 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 2.41 | -2.53 |
| Martin ratioReturn relative to average drawdown | -0.36 | 8.39 | -8.74 |
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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% | -6.60% | -19.70% |
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 | -5.18% | -2.15% | -3.03% |
Average DrawdownAverage peak-to-trough decline | -12.21% | -3.10% | -9.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.57% | 0.90% | +4.67% |
Volatility
TWHIX vs. ABHYX - Volatility Comparison
American Century Heritage Fund (TWHIX) has a higher volatility of 4.82% compared to American Century High-Yield Municipal Fund (ABHYX) at 1.06%. 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 | 4.82% | 1.06% | +3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 14.77% | 2.60% | +12.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 3.35% | +15.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.41% | 4.97% | +18.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 4.99% | +17.86% |
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 21.47%, more than ABHYX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABHYX American Century High-Yield Municipal Fund | 4.00% | 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 | 21.47% | 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 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TWHIX has higher volatility (4.82%) compared to ABHYX (1.06%). In terms of maximum drawdown, TWHIX dropped -56.98% vs ABHYX's -26.34%.
ABHYX currently has the higher Sharpe Ratio (2.27 vs -0.11), 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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