AEF vs. ADGAX

Last updated Jun 3, 2026

AEF (Aberdeen Emerging Markets Equity Income Fund, Inc.) is a stock, while ADGAX (AB Core Opportunities Fund) is Large Cap Blend Equities fund managed by AllianceBernstein. Over the past 10 years, AEF returned 13.40%/yr vs 13.39%/yr for ADGAX. At a 0.42 correlation, their price movements are largely independent.

Performance

AEF vs. ADGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) and AB Core Opportunities Fund (ADGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEF achieves a 47.92% return, which is significantly higher than ADGAX's 6.16% return. Both investments have delivered pretty close results over the past 10 years, with AEF having a 13.40% annualized return and ADGAX not far behind at 13.39%.

AEF

• 1D: 0.20%
• 1M: 9.46%
• YTD: 47.92%
• 6M: 57.33%
• 1Y: 104.75%
• 3Y*: 35.89%
• 5Y*: 11.06%
• 10Y*: 13.40%

ADGAX

• 1D: 0.45%
• 1M: 3.08%
• YTD: 6.16%
• 6M: 6.22%
• 1Y: 22.26%
• 3Y*: 19.79%
• 5Y*: 11.26%
• 10Y*: 13.39%

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

AEF vs. ADGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEF Aberdeen Emerging Markets Equity Income Fund, Inc.	47.92%	50.22%	9.43%	7.13%	-29.63%	3.31%	11.62%	22.83%	-16.06%	57.92%
ADGAX AB Core Opportunities Fund	6.16%	17.36%	22.49%	20.93%	-15.73%	24.34%	12.97%	26.94%	-2.89%	22.46%

Correlation

The correlation between AEF and ADGAX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001	0.42

The correlation between AEF and ADGAX shifts across timeframes, from 0.42 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AEF vs. ADGAX — Risk / Return Rank

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

AEF

AEF Risk / Return Rank: 96
AEF Sharpe Ratio Rank: 98
AEF Sortino Ratio Rank: 98
AEF Omega Ratio Rank: 97
AEF Calmar Ratio Rank: 92
AEF Martin Ratio Rank: 95

ADGAX

ADGAX Risk / Return Rank: 36
ADGAX Sharpe Ratio Rank: 42
ADGAX Sortino Ratio Rank: 39
ADGAX Omega Ratio Rank: 40
ADGAX Calmar Ratio Rank: 27
ADGAX Martin Ratio Rank: 34

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.

AEF vs. ADGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) and AB Core Opportunities Fund (ADGAX). 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.

	AEF	ADGAX	Difference
Sharpe ratio Return per unit of total volatility	4.33	1.89	+2.43
Sortino ratio Return per unit of downside risk	5.13	2.60	+2.53
Omega ratio Gain probability vs. loss probability	1.72	1.34	+0.37
Calmar ratio Return relative to maximum drawdown	5.36	1.98	+3.38
Martin ratio Return relative to average drawdown	21.26	7.75	+13.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEF vs. ADGAX - Sharpe Ratio Comparison

The current AEF Sharpe Ratio is 4.33, which is higher than the ADGAX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AEF and ADGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AEF	ADGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.33	1.89	+2.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.62	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.76	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.51	-0.11

Drawdowns

AEF vs. ADGAX - Drawdown Comparison

The maximum AEF drawdown since its inception was -63.87%, which is greater than ADGAX's maximum drawdown of -53.65%. Use the drawdown chart below to compare losses from any high point for AEF and ADGAX.

Drawdown Indicators

	AEF	ADGAX	Difference
Max Drawdown Largest peak-to-trough decline	-63.87%	-53.65%	-10.22%
Max Drawdown (1Y) Largest decline over 1 year	-19.96%	-11.76%	-8.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.96%	-18.08%	-1.88%
Max Drawdown (5Y) Largest decline over 5 years	-47.20%	-24.23%	-22.97%
Max Drawdown (10Y) Largest decline over 10 years	-47.20%	-31.10%	-16.10%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-24.05%	-7.80%	-16.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	3.00%	+2.03%

Volatility

AEF vs. ADGAX - Volatility Comparison

Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) has a higher volatility of 8.63% compared to AB Core Opportunities Fund (ADGAX) at 2.80%. This indicates that AEF's price experiences larger fluctuations and is considered to be riskier than ADGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEF	ADGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.63%	2.80%	+5.83%
Volatility (6M) Calculated over the trailing 6-month period	21.12%	9.56%	+11.56%
Volatility (1Y) Calculated over the trailing 1-year period	24.36%	12.36%	+12.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.36%	18.14%	+4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.67%	17.70%	+3.97%

Dividends

AEF vs. ADGAX - Dividend Comparison

AEF's dividend yield for the trailing twelve months is around 7.05%, less than ADGAX's 14.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADGAX AB Core Opportunities Fund	14.74%	15.65%	10.29%	4.69%	10.73%	15.80%	4.24%	5.63%	17.66%	11.05%	4.72%	7.20%
AEF Aberdeen Emerging Markets Equity Income Fund, Inc.	7.05%	9.29%	7.51%	7.63%	8.54%	6.73%	3.37%	2.23%	20.97%	5.19%	7.05%	12.19%

Frequently Asked Questions

Can I hold both AEF and ADGAX in my portfolio?

AEF and ADGAX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEF or ADGAX?

AEF has higher volatility (8.63%) compared to ADGAX (2.80%). In terms of maximum drawdown, AEF dropped -63.87% vs ADGAX's -53.65%.

Which has better risk-adjusted returns?

AEF currently has the higher Sharpe Ratio (4.33 vs 1.89), 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.