TWHIX vs. TWGGX

Last updated Jun 24, 2026

TWHIX (American Century Heritage Fund) and TWGGX (American Century Focused Global Growth Fund) are both mutual funds - TWHIX is a Mid Cap Growth Equities fund managed by American Century, while TWGGX is a Global Equities fund managed by American Century. Over the past 10 years, TWHIX returned 12.31%/yr vs 12.43%/yr for TWGGX. Their correlation of 0.86 suggests significant overlap in exposure. TWHIX charges 1.00%/yr vs 1.10%/yr for TWGGX.

Performance

TWHIX vs. TWGGX - Performance Comparison

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

Returns By Period

In the year-to-date period, TWHIX achieves a 5.49% return, which is significantly lower than TWGGX's 6.68% return. Both investments have delivered pretty close results over the past 10 years, with TWHIX having a 12.31% annualized return and TWGGX not far ahead at 12.43%.

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%

TWGGX

• 1D: 0.00%
• 1M: 1.85%
• YTD: 6.68%
• 6M: 5.75%
• 1Y: 13.72%
• 3Y*: 14.82%
• 5Y*: 5.69%
• 10Y*: 12.43%

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

TWHIX vs. TWGGX - 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%
TWGGX American Century Focused Global Growth Fund	6.68%	16.50%	13.99%	18.49%	-22.76%	13.83%	27.88%	36.20%	-6.32%	27.49%

Correlation

The correlation between TWHIX and TWGGX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 30, 1998	0.86

The correlation between TWHIX and TWGGX has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.

Return for Risk

TWHIX vs. TWGGX — Risk / Return Rank

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

TWHIX

TWHIX Risk / Return Rank: 5
TWHIX Sharpe Ratio Rank: 5
TWHIX Sortino Ratio Rank: 5
TWHIX Omega Ratio Rank: 5
TWHIX Calmar Ratio Rank: 5
TWHIX Martin Ratio Rank: 5

TWGGX

TWGGX Risk / Return Rank: 14
TWGGX Sharpe Ratio Rank: 14
TWGGX Sortino Ratio Rank: 14
TWGGX Omega Ratio Rank: 14
TWGGX Calmar Ratio Rank: 12
TWGGX Martin Ratio Rank: 18

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. TWGGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Heritage Fund (TWHIX) and American Century Focused Global Growth Fund (TWGGX). 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	TWGGX	Difference
Sharpe ratio: Return per unit of total volatility	0.35	0.96	-0.61
Sortino ratio: Return per unit of downside risk	0.61	1.43	-0.81
Omega ratio: Gain probability vs. loss probability	1.07	1.18	-0.11
Calmar ratio: Return relative to maximum drawdown	0.40	1.07	-0.67
Martin ratio: Return relative to average drawdown	1.15	4.35	-3.20

TWHIX vs. TWGGX - Sharpe Ratio Comparison

The current TWHIX Sharpe Ratio is 0.35, which is lower than the TWGGX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of TWHIX and TWGGX, 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

TWHIX vs. TWGGX - Drawdown Comparison

The maximum TWHIX drawdown since its inception was -56.98%, roughly equal to the maximum TWGGX drawdown of -58.08%. Use the drawdown chart below to compare losses from any high point for TWHIX and TWGGX.

Drawdown Indicators

	TWHIX	TWGGX	Difference
Max Drawdown Largest peak-to-trough decline	-56.98%	-58.08%	+1.10%
Max Drawdown (1Y) Largest decline over 1 year	-15.82%	-14.04%	-1.78%
Max Drawdown (3Y) Largest decline over 3 years	-26.30%	-17.80%	-8.50%
Max Drawdown (5Y) Largest decline over 5 years	-40.34%	-31.23%	-9.11%
Max Drawdown (10Y) Largest decline over 10 years	-40.34%	-32.06%	-8.28%
Current Drawdown Current decline from peak	-1.39%	0.00%	-1.39%
Average Drawdown Average peak-to-trough decline	-12.23%	-15.03%	+2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	3.44%	+2.02%

Volatility

TWHIX vs. TWGGX - Volatility Comparison

American Century Heritage Fund (TWHIX) and American Century Focused Global Growth Fund (TWGGX) have volatilities of 6.44% and 6.48%, 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

	TWHIX	TWGGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	6.48%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	13.20%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	18.11%	15.61%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.35%	18.49%	+4.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.88%	18.77%	+4.11%

TWHIX vs. TWGGX - Expense Ratio Comparison

TWHIX has a 1.00% expense ratio, which is lower than TWGGX's 1.10% expense ratio.

Dividends

TWHIX vs. TWGGX - Dividend Comparison

TWHIX's dividend yield for the trailing twelve months is around 20.99%, more than TWGGX's 8.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TWGGX American Century Focused Global Growth Fund	8.46%	9.02%	14.90%	3.81%	12.67%	13.16%	11.05%	17.27%	11.31%	12.90%	0.58%	8.61%
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

Can I hold both TWHIX and TWGGX in my portfolio?

TWHIX and TWGGX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWHIX or TWGGX?

TWGGX has higher volatility (6.48%) compared to TWHIX (6.44%). In terms of maximum drawdown, TWHIX dropped -56.98% vs TWGGX's -58.08%.

Which has better risk-adjusted returns?

TWGGX currently has the higher Sharpe Ratio (0.96 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.