AGRFX vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about AB Growth Fund (AGRFX) and State Street SPDR S&P 500 ETF (SPY).

AGRFX is managed by AllianceBernstein. It was launched on Sep 4, 1990. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Performance

AGRFX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Growth Fund (AGRFX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

AGRFX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGRFX AB Growth Fund	-12.87%	10.84%	31.50%	37.95%	-29.65%	21.40%	35.97%	31.11%	3.75%	33.88%
SPY State Street SPDR S&P 500 ETF	-4.37%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Returns By Period

In the year-to-date period, AGRFX achieves a -12.87% return, which is significantly lower than SPY's -4.37% return. Both investments have delivered pretty close results over the past 10 years, with AGRFX having a 14.19% annualized return and SPY not far behind at 13.98%.

AGRFX

• 1D: -0.24%
• 1M: -10.04%
• YTD: -12.87%
• 6M: -13.78%
• 1Y: 6.03%
• 3Y*: 15.92%
• 5Y*: 8.48%
• 10Y*: 14.19%

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

AGRFX vs. SPY - Expense Ratio Comparison

AGRFX has a 1.12% expense ratio, which is higher than SPY's 0.09% expense ratio.

AGRFX

AB Growth Fund

SPY

State Street SPDR S&P 500 ETF

Return for Risk

AGRFX vs. SPY — Risk / Return Rank

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

AGRFX

AGRFX Risk / Return Rank: 12
AGRFX Sharpe Ratio Rank: 13
AGRFX Sortino Ratio Rank: 13
AGRFX Omega Ratio Rank: 13
AGRFX Calmar Ratio Rank: 10
AGRFX Martin Ratio Rank: 11

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

AGRFX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Growth Fund (AGRFX) and State Street SPDR S&P 500 ETF (SPY). 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.

	AGRFX	SPY	Difference
Sharpe ratio Return per unit of total volatility	0.30	0.93	-0.63
Sortino ratio Return per unit of downside risk	0.58	1.45	-0.88
Omega ratio Gain probability vs. loss probability	1.08	1.22	-0.15
Calmar ratio Return relative to maximum drawdown	0.22	1.53	-1.30
Martin ratio Return relative to average drawdown	0.83	7.30	-6.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGRFX vs. SPY - Sharpe Ratio Comparison

The current AGRFX Sharpe Ratio is 0.30, which is lower than the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of AGRFX and SPY, 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

	AGRFX	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	0.93	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.69	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.78	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.56	-0.01

Correlation

The correlation between AGRFX and SPY is 0.89, 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

AGRFX vs. SPY - Dividend Comparison

AGRFX's dividend yield for the trailing twelve months is around 18.79%, more than SPY's 1.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGRFX AB Growth Fund	18.79%	16.37%	21.03%	7.20%	1.69%	9.79%	5.79%	7.80%	16.01%	9.33%	1.03%	9.76%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

AGRFX vs. SPY - Drawdown Comparison

The maximum AGRFX drawdown since its inception was -61.88%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for AGRFX and SPY.

Drawdown Indicators

	AGRFX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-61.88%	-55.19%	-6.69%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	-12.05%	-3.87%
Max Drawdown (5Y) Largest decline over 5 years	-35.21%	-24.50%	-10.71%
Max Drawdown (10Y) Largest decline over 10 years	-35.21%	-33.72%	-1.49%
Current Drawdown Current decline from peak	-15.92%	-6.24%	-9.68%
Average Drawdown Average peak-to-trough decline	-15.82%	-9.09%	-6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	2.52%	+1.76%

Volatility

AGRFX vs. SPY - Volatility Comparison

AB Growth Fund (AGRFX) has a higher volatility of 5.75% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that AGRFX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGRFX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	5.31%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	9.47%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	20.55%	19.05%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.79%	17.06%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.39%	17.92%	+2.47%