ACP vs. AGD

Last updated Aug 1, 2026

ACP (abrdn Income Credit Strategies Fund) and AGD (abrdn Global Dynamic Dividend Fund) are both mutual funds - ACP is a Multisector Bonds fund actively managed by abrdn, while AGD is a Global Equity Income fund actively managed by abrdn. Both are actively managed. Over the past 10 years, ACP returned 5.48%/yr vs 12.88%/yr for AGD. Their 0.38 correlation means their historical movements had little consistent relationship. ACP charges 1.97%/yr vs 1.14%/yr for AGD.

Performance

ACP vs. AGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Income Credit Strategies Fund (ACP) and abrdn Global Dynamic Dividend Fund (AGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACP achieves a 3.47% return, which is significantly lower than AGD's 11.60% return. Over the past 10 years, ACP has underperformed AGD with an annualized return of 5.48%, while AGD has yielded a comparatively higher 12.88% annualized return.

ACP

• 1D: -0.20%
• 1M: -2.74%
• 6M: -1.41%
• YTD: 3.47%
• 1Y: 0.66%
• 3Y*: 7.17%
• 5Y*: 0.27%
• 10Y*: 5.48%
• ALL TIME*: 3.78%

AGD

• 1D: 0.50%
• 1M: 2.86%
• 6M: 3.96%
• YTD: 11.60%
• 1Y: 23.51%
• 3Y*: 20.69%
• 5Y*: 10.27%
• 10Y*: 12.88%
• ALL TIME*: 4.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACP abrdn Income Credit Strategies Fund	$3.30M	$2.58M	$2.42M
AGD abrdn Global Dynamic Dividend Fund	$1.09M	$1.68M	$1.43M

ACP vs. AGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACP abrdn Income Credit Strategies Fund	3.47%	6.48%	4.81%	19.27%	-22.87%	6.65%	7.51%	26.93%	-17.64%	15.60%
AGD abrdn Global Dynamic Dividend Fund	11.60%	34.31%	16.39%	7.36%	-15.31%	23.74%	9.49%	32.49%	-14.98%	33.04%

Correlation

The correlation between ACP and AGD is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.36
Correlation (5Y) Shows whether the relationship held over a longer period.	0.40
Correlation (10Y) Provides a long-term view across more market conditions.	0.39
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011	0.38

The correlation between ACP and AGD shifts across timeframes, from 0.28 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ACP vs. AGD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ACP

ACP Risk / Return Rank: 5
ACP Sharpe Ratio Rank: 5
ACP Sortino Ratio Rank: 5
ACP Omega Ratio Rank: 5
ACP Calmar Ratio Rank: 5
ACP Martin Ratio Rank: 5

AGD

AGD Risk / Return Rank: 23
AGD Sharpe Ratio Rank: 25
AGD Sortino Ratio Rank: 21
AGD Omega Ratio Rank: 30
AGD Calmar Ratio Rank: 23
AGD Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ACP vs. AGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Income Credit Strategies Fund (ACP) and abrdn Global Dynamic Dividend Fund (AGD). 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.

	ACP	AGD	Difference
Sharpe ratio: Return per unit of total volatility	0.07	0.86	-0.80
Sortino ratio: Return per unit of downside risk	0.18	1.15	-0.97
Omega ratio: Gain probability vs. loss probability	1.02	1.18	-0.16
Calmar ratio: Return relative to maximum drawdown	0.08	1.05	-0.97
Martin ratio: Return relative to average drawdown	0.22	2.20	-1.99

ACP vs. AGD - Sharpe Ratio Comparison

The current ACP Sharpe Ratio is 0.07, which is lower than the AGD Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of ACP and AGD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACP vs. AGD - Drawdown Comparison

The maximum ACP drawdown since its inception was -51.03%, smaller than the maximum AGD drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for ACP and AGD.

Drawdown Indicators

	ACP	AGD	Difference
Max Drawdown Largest peak-to-trough decline	-51.03%	-76.36%	+25.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-20.25%	+9.74%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-20.25%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	-38.83%	-28.16%	-10.67%
Max Drawdown (10Y) Largest decline over 10 years	-51.03%	-44.12%	-6.91%
Current Drawdown Current decline from peak	-7.14%	-3.48%	-3.66%
Average Drawdown Average peak-to-trough decline	-11.07%	-29.69%	+18.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	9.60%	-5.75%

Volatility

ACP vs. AGD - Volatility Comparison

abrdn Income Credit Strategies Fund (ACP) and abrdn Global Dynamic Dividend Fund (AGD) have volatilities of 3.79% and 3.96%, 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

	ACP	AGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	3.96%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	10.04%	15.58%	-5.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	24.55%	-12.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	19.09%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.09%	19.60%	+1.49%

ACP vs. AGD - Expense Ratio Comparison

ACP has a 1.97% expense ratio, which is higher than AGD's 1.14% expense ratio.

Dividends

ACP vs. AGD - Dividend Comparison

ACP's dividend yield for the trailing twelve months is around 18.38%, more than AGD's 11.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACP abrdn Income Credit Strategies Fund	18.38%	17.19%	19.72%	17.65%	17.70%	11.76%	12.73%	12.27%	12.60%	10.26%	10.72%	12.69%
AGD abrdn Global Dynamic Dividend Fund	11.60%	11.41%	10.46%	8.35%	8.25%	6.45%	7.47%	7.50%	9.17%	7.22%	8.89%	8.77%

Frequently Asked Questions

Can I hold both ACP and AGD in my portfolio?

ACP and AGD have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACP or AGD?

AGD has higher volatility (3.96%) compared to ACP (3.79%). In terms of maximum drawdown, ACP dropped -51.03% vs AGD's -76.36%.

Which has better risk-adjusted returns?

AGD currently has the higher Sharpe Ratio (0.86 vs 0.07), 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.