ABTYX vs. AHMFX
ABTYX (AB High Income Municipal Portfolio) and AHMFX (American High-Income Municipal Bond Fund Class F-2) are both High Yield Muni funds. Over the past 10 years, ABTYX returned 2.52%/yr vs 3.19%/yr for AHMFX. Their correlation of 0.85 means they have usually moved in the same direction. ABTYX charges 0.53%/yr vs 0.42%/yr for AHMFX.
Performance
ABTYX vs. AHMFX - Performance Comparison
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Returns By Period
In the year-to-date period, ABTYX achieves a 0.53% return, which is significantly lower than AHMFX's 1.26% return. Over the past 10 years, ABTYX has underperformed AHMFX with an annualized return of 2.52%, while AHMFX has yielded a comparatively higher 3.19% annualized return.
ABTYX
- 1D
- -0.20%
- 1M
- -2.79%
- 6M
- -0.08%
- YTD
- 0.53%
- 1Y
- 6.51%
- 3Y*
- 4.85%
- 5Y*
- -0.05%
- 10Y*
- 2.52%
- ALL TIME*
- 4.67%
AHMFX
- 1D
- -0.20%
- 1M
- -2.06%
- 6M
- 0.60%
- YTD
- 1.26%
- 1Y
- 6.46%
- 3Y*
- 5.69%
- 5Y*
- 1.36%
- 10Y*
- 3.19%
- ALL TIME*
- 5.92%
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 |
ABTYX vs. AHMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ABTYX AB High Income Municipal Portfolio | 0.53% | 5.88% | 4.64% | 5.49% | -15.49% | 5.73% | 5.08% | 11.31% | 1.02% | 10.22% |
AHMFX American High-Income Municipal Bond Fund Class F-2 | 1.26% | 6.03% | 6.45% | 7.04% | -12.44% | 5.49% | 4.61% | 9.12% | 1.80% | 9.09% |
Correlation
The correlation between ABTYX and AHMFX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2010 | 0.85 |
The correlation between ABTYX and AHMFX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
ABTYX vs. AHMFX — Risk / Return Rank
ABTYX
AHMFX
ABTYX vs. AHMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB High Income Municipal Portfolio (ABTYX) and American High-Income Municipal Bond Fund Class F-2 (AHMFX). 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.
| ABTYX | AHMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.53 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.53 | -0.65 |
| Martin ratioReturn relative to average drawdown | 6.17 | 8.74 | -2.57 |
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Drawdowns
ABTYX vs. AHMFX - Drawdown Comparison
The maximum ABTYX drawdown since its inception was -21.44%, which is greater than AHMFX's maximum drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for ABTYX and AHMFX.
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Drawdown Indicators
| ABTYX | AHMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.44% | -17.65% | -3.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -2.76% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -8.20% | -5.68% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -21.44% | -17.65% | -3.79% |
Max Drawdown (10Y)Largest decline over 10 years | -21.44% | -17.65% | -3.79% |
Current DrawdownCurrent decline from peak | -2.89% | -2.06% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -2.35% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 0.80% | +0.36% |
Volatility
ABTYX vs. AHMFX - Volatility Comparison
AB High Income Municipal Portfolio (ABTYX) has a higher volatility of 1.19% compared to American High-Income Municipal Bond Fund Class F-2 (AHMFX) at 0.93%. This indicates that ABTYX's price experiences larger fluctuations and is considered to be riskier than AHMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABTYX | AHMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 0.93% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 2.39% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 3.08% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 4.88% | +1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.63% | 4.55% | +1.08% |
ABTYX vs. AHMFX - Expense Ratio Comparison
ABTYX has a 0.53% expense ratio, which is higher than AHMFX's 0.42% expense ratio.
Dividends
ABTYX vs. AHMFX - Dividend Comparison
ABTYX's dividend yield for the trailing twelve months is around 4.37%, more than AHMFX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABTYX AB High Income Municipal Portfolio | 4.37% | 5.93% | 4.15% | 3.10% | 3.91% | 2.59% | 3.70% | 4.27% | 4.60% | 4.20% | 4.48% | 4.69% |
AHMFX American High-Income Municipal Bond Fund Class F-2 | 3.81% | 5.58% | 4.04% | 2.97% | 2.71% | 3.44% | 3.60% | 3.68% | 3.88% | 4.19% | 3.74% | 4.19% |
Frequently Asked Questions
With a correlation of 0.90, ABTYX and AHMFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ABTYX has higher volatility (1.19%) compared to AHMFX (0.93%). In terms of maximum drawdown, ABTYX dropped -21.44% vs AHMFX's -17.65%.
AHMFX currently has the higher Sharpe Ratio (2.31 vs 1.84), 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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