ACISX vs. MISHX
ACISX (AB Corporate Income Shares) and MISHX (AB Municipal Income Shares) are both mutual funds - ACISX is a Corporate Bonds fund managed by AllianceBernstein, while MISHX is a High Yield Muni fund managed by AllianceBernstein. Over the past 10 years, ACISX returned 2.61%/yr vs 3.33%/yr for MISHX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.00% expense ratio.
Performance
ACISX vs. MISHX - Performance Comparison
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Returns By Period
In the year-to-date period, ACISX achieves a -0.85% return, which is significantly lower than MISHX's 0.70% return. Over the past 10 years, ACISX has underperformed MISHX with an annualized return of 2.61%, while MISHX has yielded a comparatively higher 3.33% annualized return.
ACISX
- 1D
- -0.21%
- 1M
- -1.93%
- 6M
- -1.07%
- YTD
- -0.85%
- 1Y
- 1.87%
- 3Y*
- 5.14%
- 5Y*
- -0.26%
- 10Y*
- 2.61%
- ALL TIME*
- 3.07%
MISHX
- 1D
- -0.18%
- 1M
- -2.23%
- 6M
- -0.08%
- YTD
- 0.70%
- 1Y
- 5.81%
- 3Y*
- 5.36%
- 5Y*
- 1.00%
- 10Y*
- 3.33%
- ALL TIME*
- 4.29%
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 |
ACISX vs. MISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACISX AB Corporate Income Shares | -0.85% | 8.44% | 3.04% | 7.65% | -16.27% | -1.23% | 11.27% | 16.95% | -2.81% | 6.19% |
MISHX AB Municipal Income Shares | 0.70% | 6.41% | 5.29% | 6.24% | -12.77% | 6.81% | 6.22% | 11.52% | 0.80% | 9.59% |
Correlation
The correlation between ACISX and MISHX is 0.64, 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. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2012 | 0.54 |
The correlation between ACISX and MISHX shifts across timeframes, from 0.54 (all time) to 0.75 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ACISX vs. MISHX — Risk / Return Rank
ACISX
MISHX
ACISX vs. MISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Corporate Income Shares (ACISX) and AB Municipal Income Shares (MISHX). 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.
| ACISX | MISHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.46 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 2.05 | -1.28 |
| Martin ratioReturn relative to average drawdown | 2.22 | 7.01 | -4.79 |
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Drawdowns
ACISX vs. MISHX - Drawdown Comparison
The maximum ACISX drawdown since its inception was -22.65%, which is greater than MISHX's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for ACISX and MISHX.
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Drawdown Indicators
| ACISX | MISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.65% | -19.03% | -3.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -3.09% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -5.52% | -6.94% | +1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -22.64% | -18.20% | -4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -22.65% | -19.03% | -3.62% |
Current DrawdownCurrent decline from peak | -2.61% | -2.32% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -3.38% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.90% | +0.22% |
Volatility
ACISX vs. MISHX - Volatility Comparison
AB Corporate Income Shares (ACISX) and AB Municipal Income Shares (MISHX) have volatilities of 1.02% and 1.01%, 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.
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Volatility by Period
| ACISX | MISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.01% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 2.68% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 3.32% | +0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.48% | 5.02% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.00% | 5.19% | +0.81% |
ACISX vs. MISHX - Expense Ratio Comparison
ACISX has a 0.00% expense ratio, which is lower than MISHX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ACISX vs. MISHX - Dividend Comparison
ACISX's dividend yield for the trailing twelve months is around 4.73%, more than MISHX's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACISX AB Corporate Income Shares | 4.73% | 5.10% | 4.97% | 3.66% | 3.48% | 3.44% | 5.62% | 4.77% | 3.99% | 3.28% | 3.54% | 3.63% |
MISHX AB Municipal Income Shares | 4.52% | 6.23% | 4.80% | 3.23% | 3.75% | 2.77% | 3.56% | 3.98% | 3.77% | 3.78% | 4.25% | 4.38% |
Frequently Asked Questions
ACISX and MISHX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACISX has higher volatility (1.02%) compared to MISHX (1.01%). In terms of maximum drawdown, ACISX dropped -22.65% vs MISHX's -19.03%.
MISHX currently has the higher Sharpe Ratio (1.94 vs 0.61), 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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