ACEYX vs. BGCBX

Last updated Apr 1, 2026

Compare and contrast key facts about AB All China Equity Portfolio (ACEYX) and Baillie Gifford China Equities Fund (BGCBX).

ACEYX is managed by AllianceBernstein. It was launched on Jul 24, 2018. BGCBX is managed by Baillie Gifford Funds. It was launched on Jul 6, 2021.

Performance

ACEYX vs. BGCBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB All China Equity Portfolio (ACEYX) and Baillie Gifford China Equities Fund (BGCBX). The values are adjusted to include any dividend payments, if applicable.

ACEYX vs. BGCBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ACEYX AB All China Equity Portfolio	-6.20%	33.91%	17.44%	-10.96%	-26.65%	-13.41%
BGCBX Baillie Gifford China Equities Fund	-7.39%	36.51%	9.74%	-18.00%	-28.56%	-17.30%

Returns By Period

In the year-to-date period, ACEYX achieves a -6.20% return, which is significantly higher than BGCBX's -7.39% return.

ACEYX

• 1D: 0.63%
• 1M: -9.15%
• YTD: -6.20%
• 6M: -10.46%
• 1Y: 12.86%
• 3Y*: 7.76%
• 5Y*: -3.85%
• 10Y*: —

BGCBX

• 1D: -0.16%
• 1M: -8.19%
• YTD: -7.39%
• 6M: -12.16%
• 1Y: 9.09%
• 3Y*: 3.63%
• 5Y*: —
• 10Y*: —

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

ACEYX vs. BGCBX - Expense Ratio Comparison

ACEYX has a 1.25% expense ratio, which is higher than BGCBX's 0.96% expense ratio.

ACEYX

AB All China Equity Portfolio

BGCBX

Baillie Gifford China Equities Fund

Return for Risk

ACEYX vs. BGCBX — Risk / Return Rank

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

ACEYX

ACEYX Risk / Return Rank: 20
ACEYX Sharpe Ratio Rank: 21
ACEYX Sortino Ratio Rank: 20
ACEYX Omega Ratio Rank: 19
ACEYX Calmar Ratio Rank: 22
ACEYX Martin Ratio Rank: 19

BGCBX

BGCBX Risk / Return Rank: 14
BGCBX Sharpe Ratio Rank: 14
BGCBX Sortino Ratio Rank: 14
BGCBX Omega Ratio Rank: 13
BGCBX Calmar Ratio Rank: 14
BGCBX Martin Ratio Rank: 14

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.

ACEYX vs. BGCBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB All China Equity Portfolio (ACEYX) and Baillie Gifford China Equities Fund (BGCBX). 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.

	ACEYX	BGCBX	Difference
Sharpe ratio Return per unit of total volatility	0.57	0.40	+0.17
Sortino ratio Return per unit of downside risk	0.87	0.67	+0.20
Omega ratio Gain probability vs. loss probability	1.12	1.09	+0.03
Calmar ratio Return relative to maximum drawdown	0.66	0.40	+0.27
Martin ratio Return relative to average drawdown	2.04	1.29	+0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACEYX vs. BGCBX - Sharpe Ratio Comparison

The current ACEYX Sharpe Ratio is 0.57, which is higher than the BGCBX Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of ACEYX and BGCBX, 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

	ACEYX	BGCBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	0.40	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	-0.30	+0.36

Correlation

The correlation between ACEYX and BGCBX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ACEYX vs. BGCBX - Dividend Comparison

ACEYX's dividend yield for the trailing twelve months is around 5.29%, more than BGCBX's 0.99% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
ACEYX AB All China Equity Portfolio	5.29%	4.97%	3.75%	2.17%	1.39%	1.81%	0.43%	1.13%
BGCBX Baillie Gifford China Equities Fund	0.99%	0.91%	2.03%	1.50%	0.66%	0.00%	0.00%	0.00%

Drawdowns

ACEYX vs. BGCBX - Drawdown Comparison

The maximum ACEYX drawdown since its inception was -57.58%, roughly equal to the maximum BGCBX drawdown of -59.07%. Use the drawdown chart below to compare losses from any high point for ACEYX and BGCBX.

Drawdown Indicators

	ACEYX	BGCBX	Difference
Max Drawdown Largest peak-to-trough decline	-57.58%	-59.07%	+1.49%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-16.02%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-51.51%	—	—
Current Drawdown Current decline from peak	-30.42%	-33.71%	+3.29%
Average Drawdown Average peak-to-trough decline	-27.81%	-38.61%	+10.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	4.94%	+0.07%

Volatility

ACEYX vs. BGCBX - Volatility Comparison

AB All China Equity Portfolio (ACEYX) and Baillie Gifford China Equities Fund (BGCBX) have volatilities of 6.13% and 6.03%, 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

	ACEYX	BGCBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	6.03%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	13.51%	13.23%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	20.99%	21.42%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.22%	27.29%	-4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	27.29%	-3.64%