YACKX vs. CAPE
YACKX (AMG Yacktman Fund) and CAPE (iPath Shiller CAPE ETN) are both funds - YACKX is a Large Cap Value Equities fund managed by AMG, while CAPE is a Global Equities fund tracking the Shiller Barclays CAPE US Core Sector Index. Over the past 3 years, YACKX returned 13.09%/yr vs 11.38%/yr for CAPE. A 0.74 correlation means they provide meaningful diversification when combined. YACKX charges 0.71%/yr vs 0.45%/yr for CAPE.
Performance
YACKX vs. CAPE - Performance Comparison
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Returns By Period
In the year-to-date period, YACKX achieves a 15.70% return, which is significantly higher than CAPE's -1.42% return.
YACKX
- 1D
- 0.00%
- 1M
- -0.19%
- YTD
- 15.70%
- 6M
- 17.26%
- 1Y
- 10.63%
- 3Y*
- 13.09%
- 5Y*
- 8.61%
- 10Y*
- 12.22%
CAPE
- 1D
- -0.28%
- 1M
- -2.34%
- YTD
- -1.42%
- 6M
- -1.48%
- 1Y
- 4.08%
- 3Y*
- 11.38%
- 5Y*
- —
- 10Y*
- —
YACKX vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
YACKX AMG Yacktman Fund | 15.70% | 1.34% | 13.15% | 15.46% | -6.81% |
CAPE iPath Shiller CAPE ETN | -1.42% | 9.10% | 14.40% | 27.65% | -15.28% |
Correlation
The correlation between YACKX and CAPE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022 | 0.74 |
Over the past year, the correlation between YACKX and CAPE has dropped to 0.47 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
YACKX vs. CAPE — Risk / Return Rank
YACKX
CAPE
YACKX vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG Yacktman Fund (YACKX) and iPath Shiller CAPE ETN (CAPE). 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.
| YACKX | CAPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.07 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 0.42 | +0.22 |
| Martin ratioReturn relative to average drawdown | 1.85 | 1.50 | +0.35 |
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Drawdowns
YACKX vs. CAPE - Drawdown Comparison
The maximum YACKX drawdown since its inception was -46.65%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for YACKX and CAPE.
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Drawdown Indicators
| YACKX | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.65% | -22.07% | -24.58% |
Max Drawdown (1Y)Largest decline over 1 year | -16.30% | -9.68% | -6.62% |
Max Drawdown (3Y)Largest decline over 3 years | -18.30% | -14.32% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -19.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.93% | — | — |
Current DrawdownCurrent decline from peak | -3.99% | -4.56% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -4.90% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.61% | 2.72% | +2.89% |
Volatility
YACKX vs. CAPE - Volatility Comparison
AMG Yacktman Fund (YACKX) has a higher volatility of 4.89% compared to iPath Shiller CAPE ETN (CAPE) at 3.28%. This indicates that YACKX's price experiences larger fluctuations and is considered to be riskier than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YACKX | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 3.28% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 19.87% | 8.49% | +11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.68% | 11.08% | +8.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.16% | 16.88% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.18% | 16.88% | -0.70% |
YACKX vs. CAPE - Expense Ratio Comparison
YACKX has a 0.71% expense ratio, which is higher than CAPE's 0.45% expense ratio.
Dividends
YACKX vs. CAPE - Dividend Comparison
YACKX has not paid dividends to shareholders, while CAPE's dividend yield for the trailing twelve months is around 1.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAPE iPath Shiller CAPE ETN | 1.40% | 1.39% | 1.23% | 1.01% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YACKX AMG Yacktman Fund | 0.00% | 0.00% | 17.32% | 4.39% | 7.35% | 3.72% | 10.82% | 16.84% | 23.06% | 10.67% | 8.57% | 13.66% |
Frequently Asked Questions
YACKX and CAPE have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YACKX has higher volatility (4.89%) compared to CAPE (3.28%). In terms of maximum drawdown, YACKX dropped -46.65% vs CAPE's -22.07%.
YACKX currently has the higher Sharpe Ratio (0.53 vs 0.37), 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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