ALCAX vs. ALTFX
Compare and contrast key facts about AB Municipal Income Fund California Portfolio (ALCAX) and AB Sustainable Global Thematic Fund (ALTFX).
ALCAX is managed by AllianceBernstein. It was launched on Dec 28, 1986. ALTFX is managed by AllianceBernstein. It was launched on Feb 28, 1982.
Performance
ALCAX vs. ALTFX - Performance Comparison
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ALCAX vs. ALTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALCAX AB Municipal Income Fund California Portfolio | -0.59% | 4.84% | 2.41% | 6.38% | -8.98% | 1.71% | 4.86% | 7.05% | 0.54% | 5.54% |
ALTFX AB Sustainable Global Thematic Fund | -10.89% | 6.22% | 5.94% | 15.97% | -27.19% | 22.64% | 39.40% | 33.60% | -9.86% | 37.16% |
Returns By Period
In the year-to-date period, ALCAX achieves a -0.59% return, which is significantly higher than ALTFX's -10.89% return. Over the past 10 years, ALCAX has underperformed ALTFX with an annualized return of 2.06%, while ALTFX has yielded a comparatively higher 9.62% annualized return.
ALCAX
- 1D
- 0.19%
- 1M
- -2.71%
- YTD
- -0.59%
- 6M
- 0.82%
- 1Y
- 3.54%
- 3Y*
- 3.50%
- 5Y*
- 1.07%
- 10Y*
- 2.06%
ALTFX
- 1D
- -0.30%
- 1M
- -9.85%
- YTD
- -10.89%
- 6M
- -13.62%
- 1Y
- 1.12%
- 3Y*
- 3.26%
- 5Y*
- 0.18%
- 10Y*
- 9.62%
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ALCAX vs. ALTFX - Expense Ratio Comparison
ALCAX has a 0.75% expense ratio, which is lower than ALTFX's 1.02% expense ratio.
Return for Risk
ALCAX vs. ALTFX — Risk / Return Rank
ALCAX
ALTFX
ALCAX vs. ALTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Fund California Portfolio (ALCAX) and AB Sustainable Global Thematic Fund (ALTFX). 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.
| ALCAX | ALTFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.05 | +0.86 |
Sortino ratioReturn per unit of downside risk | 1.24 | 0.20 | +1.03 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.03 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.05 | +1.05 |
Martin ratioReturn relative to average drawdown | 3.17 | -0.16 | +3.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALCAX | ALTFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.05 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.01 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.54 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.26 | +1.00 |
Correlation
The correlation between ALCAX and ALTFX is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
ALCAX vs. ALTFX - Dividend Comparison
ALCAX's dividend yield for the trailing twelve months is around 3.37%, less than ALTFX's 15.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALCAX AB Municipal Income Fund California Portfolio | 3.37% | 4.38% | 3.15% | 2.84% | 2.43% | 1.61% | 2.74% | 3.35% | 3.63% | 3.21% | 3.38% | 3.37% |
ALTFX AB Sustainable Global Thematic Fund | 15.18% | 13.53% | 8.18% | 0.03% | 2.61% | 9.99% | 7.23% | 6.01% | 8.36% | 0.00% | 4.05% | 0.00% |
Drawdowns
ALCAX vs. ALTFX - Drawdown Comparison
The maximum ALCAX drawdown since its inception was -14.67%, smaller than the maximum ALTFX drawdown of -80.01%. Use the drawdown chart below to compare losses from any high point for ALCAX and ALTFX.
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Drawdown Indicators
| ALCAX | ALTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.67% | -80.01% | +65.34% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -15.81% | +11.24% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -35.87% | +21.56% |
Max Drawdown (10Y)Largest decline over 10 years | -14.31% | -35.87% | +21.56% |
Current DrawdownCurrent decline from peak | -2.71% | -16.56% | +13.85% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -37.13% | +35.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 4.93% | -3.48% |
Volatility
ALCAX vs. ALTFX - Volatility Comparison
The current volatility for AB Municipal Income Fund California Portfolio (ALCAX) is 1.09%, while AB Sustainable Global Thematic Fund (ALTFX) has a volatility of 5.52%. This indicates that ALCAX experiences smaller price fluctuations and is considered to be less risky than ALTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALCAX | ALTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 5.52% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 10.66% | -8.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.76% | 18.53% | -13.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.80% | 18.10% | -14.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 17.96% | -14.13% |