TWTIX vs. TWHIX
TWTIX (American Century Intermediate-Term Tax-Free Bond Fund) and TWHIX (American Century Heritage Fund) are both mutual funds - TWTIX is a Municipal Bonds fund managed by American Century, while TWHIX is a Mid Cap Growth Equities fund managed by American Century. Over the past 10 years, TWTIX returned 1.89%/yr vs 11.27%/yr for TWHIX. Their 0.01 correlation means their historical movements had little consistent relationship. TWTIX charges 0.46%/yr vs 1.00%/yr for TWHIX.
Performance
TWTIX vs. TWHIX - Performance Comparison
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Returns By Period
In the year-to-date period, TWTIX achieves a 0.07% return, which is significantly lower than TWHIX's 3.13% return. Over the past 10 years, TWTIX has underperformed TWHIX with an annualized return of 1.89%, while TWHIX has yielded a comparatively higher 11.27% annualized return.
TWTIX
- 1D
- -0.19%
- 1M
- -1.66%
- 6M
- -0.76%
- YTD
- 0.07%
- 1Y
- 4.11%
- 3Y*
- 3.49%
- 5Y*
- 0.67%
- 10Y*
- 1.89%
- ALL TIME*
- 5.18%
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%
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 |
TWTIX vs. TWHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TWTIX American Century Intermediate-Term Tax-Free Bond Fund | 0.07% | 5.15% | 2.23% | 5.43% | -8.50% | 1.83% | 4.78% | 6.93% | 0.93% | 4.78% |
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% |
Correlation
The correlation between TWTIX and TWHIX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 1987 | 0.01 |
Over the past year, TWTIX and TWHIX have become more correlated (0.22) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
TWTIX vs. TWHIX — Risk / Return Rank
TWTIX
TWHIX
TWTIX vs. TWHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Intermediate-Term Tax-Free Bond Fund (TWTIX) 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.
| TWTIX | TWHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +3.06 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.00 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | -0.13 | +1.87 |
| Martin ratioReturn relative to average drawdown | 5.26 | -0.36 | +5.61 |
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Drawdowns
TWTIX vs. TWHIX - Drawdown Comparison
The maximum TWTIX drawdown since its inception was -12.57%, smaller than the maximum TWHIX drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for TWTIX and TWHIX.
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Drawdown Indicators
| TWTIX | TWHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.57% | -56.98% | +44.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -15.82% | +13.00% |
Max Drawdown (3Y)Largest decline over 3 years | -4.36% | -26.30% | +21.94% |
Max Drawdown (5Y)Largest decline over 5 years | -12.57% | -40.34% | +27.77% |
Max Drawdown (10Y)Largest decline over 10 years | -12.57% | -40.34% | +27.77% |
Current DrawdownCurrent decline from peak | -2.03% | -5.18% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -12.21% | +10.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 5.57% | -4.63% |
Volatility
TWTIX vs. TWHIX - Volatility Comparison
The current volatility for American Century Intermediate-Term Tax-Free Bond Fund (TWTIX) is 0.79%, while American Century Heritage Fund (TWHIX) has a volatility of 4.82%. This indicates that TWTIX 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.
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Volatility by Period
| TWTIX | TWHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 4.82% | -4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | 14.77% | -12.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.46% | 18.53% | -16.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 23.41% | -20.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.53% | 22.85% | -19.32% |
TWTIX vs. TWHIX - Expense Ratio Comparison
TWTIX has a 0.46% expense ratio, which is lower than TWHIX's 1.00% expense ratio.
Dividends
TWTIX vs. TWHIX - Dividend Comparison
TWTIX's dividend yield for the trailing twelve months is around 3.12%, less than TWHIX's 21.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TWTIX American Century Intermediate-Term Tax-Free Bond Fund | 3.12% | 3.93% | 3.79% | 2.98% | 1.93% | 1.99% | 2.32% | 2.72% | 2.70% | 2.61% | 2.54% | 2.61% |
Frequently Asked Questions
TWTIX and TWHIX have a correlation of 0.22, 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 TWTIX (0.79%). In terms of maximum drawdown, TWTIX dropped -12.57% vs TWHIX's -56.98%.
TWTIX currently has the higher Sharpe Ratio (2.00 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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