ACEYX vs. TDF
ACEYX (AB All China Equity Portfolio) and TDF (Templeton Dragon Fund Inc.) are both China Equities funds. Over the past 5 years, ACEYX returned -0.93%/yr vs -6.93%/yr for TDF. Their correlation of 0.80 means they have usually moved in the same direction.
Performance
ACEYX vs. TDF - Performance Comparison
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Returns By Period
In the year-to-date period, ACEYX achieves a -1.57% return, which is significantly higher than TDF's -2.36% return.
ACEYX
- 1D
- 1.01%
- 1M
- 1.94%
- 6M
- -6.98%
- YTD
- -1.57%
- 1Y
- 12.22%
- 3Y*
- 10.56%
- 5Y*
- -0.93%
- 10Y*
- —
- ALL TIME*
- 1.95%
TDF
- 1D
- 0.37%
- 1M
- 0.09%
- 6M
- -7.54%
- YTD
- -2.36%
- 1Y
- 10.76%
- 3Y*
- 5.69%
- 5Y*
- -6.93%
- 10Y*
- 4.30%
- ALL TIME*
- 8.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $630.12K | $648.32K | $744.32K |
ACEYX vs. TDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ACEYX AB All China Equity Portfolio | -1.57% | 33.91% | 17.44% | -10.96% | -26.65% | -14.65% | 25.38% | 37.67% | -21.60% |
TDF Templeton Dragon Fund Inc. | -2.36% | 37.70% | 5.44% | -20.06% | -32.93% | -18.02% | 52.98% | 27.97% | -11.84% |
Correlation
The correlation between ACEYX and TDF is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018 | 0.80 |
The correlation between ACEYX and TDF has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
ACEYX vs. TDF — Risk / Return Rank
ACEYX
TDF
ACEYX vs. TDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB All China Equity Portfolio (ACEYX) and Templeton Dragon Fund Inc. (TDF). 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.
| ACEYX | TDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.10 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 0.68 | 0.00 |
| Martin ratioReturn relative to average drawdown | 1.45 | 1.51 | -0.06 |
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Drawdowns
ACEYX vs. TDF - Drawdown Comparison
The maximum ACEYX drawdown since its inception was -57.58%, smaller than the maximum TDF drawdown of -68.15%. Use the drawdown chart below to compare losses from any high point for ACEYX and TDF.
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Drawdown Indicators
| ACEYX | TDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.58% | -68.15% | +10.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -13.95% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | -25.44% | +3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -47.59% | -58.24% | +10.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.87% | — |
Current DrawdownCurrent decline from peak | -26.98% | -46.99% | +20.01% |
Average DrawdownAverage peak-to-trough decline | -27.73% | -22.69% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.60% | 6.29% | +0.31% |
Volatility
ACEYX vs. TDF - Volatility Comparison
AB All China Equity Portfolio (ACEYX) has a higher volatility of 7.51% compared to Templeton Dragon Fund Inc. (TDF) at 5.61%. This indicates that ACEYX's price experiences larger fluctuations and is considered to be riskier than TDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACEYX | TDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.51% | 5.61% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 13.83% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.26% | 18.92% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.29% | 26.94% | -3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.58% | 24.00% | -0.42% |
Dividends
ACEYX vs. TDF - Dividend Comparison
ACEYX's dividend yield for the trailing twelve months is around 5.04%, more than TDF's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACEYX AB All China Equity Portfolio | 5.04% | 4.97% | 3.75% | 2.17% | 1.39% | 1.81% | 0.43% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% |
TDF Templeton Dragon Fund Inc. | 4.19% | 3.55% | 1.36% | 0.00% | 12.73% | 14.13% | 24.72% | 10.75% | 12.43% | 7.95% | 10.34% | 22.49% |
Frequently Asked Questions
ACEYX and TDF 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.
ACEYX has higher volatility (7.51%) compared to TDF (5.61%). In terms of maximum drawdown, ACEYX dropped -57.58% vs TDF's -68.15%.
TDF currently has the higher Sharpe Ratio (0.50 vs 0.47), 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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