TWHIX vs. NPHIX

Last updated Apr 1, 2026

Compare and contrast key facts about American Century Heritage Fund (TWHIX) and American Century High Income Fund (NPHIX).

TWHIX is managed by American Century. It was launched on Nov 10, 1987. NPHIX is managed by American Century. It was launched on Dec 27, 2012.

Performance

TWHIX vs. NPHIX - Performance Comparison

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

TWHIX vs. NPHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWHIX American Century Heritage Fund	-10.01%	6.53%	24.66%	20.64%	-28.13%	11.52%	42.61%	35.50%	-5.08%	21.83%
NPHIX American Century High Income Fund	-1.52%	8.86%	6.92%	12.05%	-12.59%	6.12%	8.03%	12.70%	-1.98%	7.02%

Returns By Period

In the year-to-date period, TWHIX achieves a -10.01% return, which is significantly lower than NPHIX's -1.52% return. Over the past 10 years, TWHIX has outperformed NPHIX with an annualized return of 10.49%, while NPHIX has yielded a comparatively lower 5.67% annualized return.

TWHIX

• 1D: -1.22%
• 1M: -9.79%
• YTD: -10.01%
• 6M: -13.12%
• 1Y: 4.24%
• 3Y*: 9.84%
• 5Y*: 2.81%
• 10Y*: 10.49%

NPHIX

• 1D: 0.23%
• 1M: -2.28%
• YTD: -1.52%
• 6M: -0.09%
• 1Y: 6.16%
• 3Y*: 7.27%
• 5Y*: 3.26%
• 10Y*: 5.67%

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

TWHIX vs. NPHIX - Expense Ratio Comparison

TWHIX has a 1.00% expense ratio, which is higher than NPHIX's 0.58% expense ratio.

TWHIX

American Century Heritage Fund

NPHIX

American Century High Income Fund

Return for Risk

TWHIX vs. NPHIX — Risk / Return Rank

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

TWHIX

TWHIX Risk / Return Rank: 9
TWHIX Sharpe Ratio Rank: 9
TWHIX Sortino Ratio Rank: 10
TWHIX Omega Ratio Rank: 9
TWHIX Calmar Ratio Rank: 8
TWHIX Martin Ratio Rank: 8

NPHIX

NPHIX Risk / Return Rank: 87
NPHIX Sharpe Ratio Rank: 87
NPHIX Sortino Ratio Rank: 89
NPHIX Omega Ratio Rank: 89
NPHIX Calmar Ratio Rank: 83
NPHIX Martin Ratio Rank: 85

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.

TWHIX vs. NPHIX - Risk-Adjusted Trends Comparison

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

	TWHIX	NPHIX	Difference
Sharpe ratio Return per unit of total volatility	0.16	1.74	-1.57
Sortino ratio Return per unit of downside risk	0.40	2.49	-2.09
Omega ratio Gain probability vs. loss probability	1.05	1.40	-0.34
Calmar ratio Return relative to maximum drawdown	0.10	2.03	-1.93
Martin ratio Return relative to average drawdown	0.32	8.74	-8.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWHIX vs. NPHIX - Sharpe Ratio Comparison

The current TWHIX Sharpe Ratio is 0.16, which is lower than the NPHIX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of TWHIX and NPHIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TWHIX	NPHIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	1.74	-1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.63	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	1.01	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.97	-0.46

Correlation

The correlation between TWHIX and NPHIX is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TWHIX vs. NPHIX - Dividend Comparison

TWHIX's dividend yield for the trailing twelve months is around 24.60%, more than NPHIX's 6.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TWHIX American Century Heritage Fund	24.60%	22.14%	15.58%	0.78%	0.98%	12.00%	13.72%	11.32%	25.33%	9.38%	8.71%	0.00%
NPHIX American Century High Income Fund	6.32%	6.69%	6.07%	4.81%	4.95%	5.77%	5.35%	5.54%	6.24%	5.87%	5.72%	7.44%

Drawdowns

TWHIX vs. NPHIX - Drawdown Comparison

The maximum TWHIX drawdown since its inception was -56.98%, which is greater than NPHIX's maximum drawdown of -21.67%. Use the drawdown chart below to compare losses from any high point for TWHIX and NPHIX.

Drawdown Indicators

	TWHIX	NPHIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.98%	-21.67%	-35.31%
Max Drawdown (1Y) Largest decline over 1 year	-15.82%	-3.14%	-12.68%
Max Drawdown (5Y) Largest decline over 5 years	-40.34%	-16.34%	-24.00%
Max Drawdown (10Y) Largest decline over 10 years	-40.34%	-21.67%	-18.67%
Current Drawdown Current decline from peak	-15.82%	-2.30%	-13.52%
Average Drawdown Average peak-to-trough decline	-12.27%	-2.55%	-9.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.00%	0.73%	+4.27%

Volatility

TWHIX vs. NPHIX - Volatility Comparison

American Century Heritage Fund (TWHIX) has a higher volatility of 6.05% compared to American Century High Income Fund (NPHIX) at 1.18%. This indicates that TWHIX's price experiences larger fluctuations and is considered to be riskier than NPHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWHIX	NPHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	1.18%	+4.87%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	2.26%	+11.10%
Volatility (1Y) Calculated over the trailing 1-year period	23.61%	3.84%	+19.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.25%	5.24%	+18.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.73%	5.64%	+17.09%