ALCAX vs. APGZX
Compare and contrast key facts about AB Municipal Income Fund California Portfolio (ALCAX) and AB Large Cap Growth Fund Class Z (APGZX).
ALCAX is managed by AllianceBernstein. It was launched on Dec 28, 1986. APGZX is managed by AllianceBernstein. It was launched on Jul 1, 2015.
Performance
ALCAX vs. APGZX - Performance Comparison
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ALCAX vs. APGZX - 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% |
APGZX AB Large Cap Growth Fund Class Z | -12.76% | 13.26% | 25.47% | 35.12% | -28.74% | 29.00% | 34.47% | 34.24% | 2.30% | 31.81% |
Returns By Period
In the year-to-date period, ALCAX achieves a -0.59% return, which is significantly higher than APGZX's -12.76% return. Over the past 10 years, ALCAX has underperformed APGZX with an annualized return of 2.06%, while APGZX has yielded a comparatively higher 14.52% 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%
APGZX
- 1D
- -0.10%
- 1M
- -10.09%
- YTD
- -12.76%
- 6M
- -12.55%
- 1Y
- 7.79%
- 3Y*
- 14.45%
- 5Y*
- 8.77%
- 10Y*
- 14.52%
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ALCAX vs. APGZX - Expense Ratio Comparison
ALCAX has a 0.75% expense ratio, which is higher than APGZX's 0.52% expense ratio.
Return for Risk
ALCAX vs. APGZX — Risk / Return Rank
ALCAX
APGZX
ALCAX vs. APGZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Fund California Portfolio (ALCAX) and AB Large Cap Growth Fund Class Z (APGZX). 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 | APGZX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.40 | +0.50 |
Sortino ratioReturn per unit of downside risk | 1.24 | 0.73 | +0.50 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.10 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 0.34 | +0.66 |
Martin ratioReturn relative to average drawdown | 3.17 | 1.34 | +1.82 |
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 | APGZX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.40 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.44 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.74 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.73 | +0.53 |
Correlation
The correlation between ALCAX and APGZX is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ALCAX vs. APGZX - Dividend Comparison
ALCAX's dividend yield for the trailing twelve months is around 3.37%, less than APGZX's 11.19% 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% |
APGZX AB Large Cap Growth Fund Class Z | 11.19% | 9.77% | 6.62% | 1.69% | 0.87% | 7.19% | 2.60% | 3.49% | 9.11% | 3.78% | 2.72% | 0.00% |
Drawdowns
ALCAX vs. APGZX - Drawdown Comparison
The maximum ALCAX drawdown since its inception was -14.67%, smaller than the maximum APGZX drawdown of -33.87%. Use the drawdown chart below to compare losses from any high point for ALCAX and APGZX.
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Drawdown Indicators
| ALCAX | APGZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.67% | -33.87% | +19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -15.21% | +10.64% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -33.87% | +19.56% |
Max Drawdown (10Y)Largest decline over 10 years | -14.31% | -33.87% | +19.56% |
Current DrawdownCurrent decline from peak | -2.71% | -15.21% | +12.50% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -6.08% | +4.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 3.90% | -2.45% |
Volatility
ALCAX vs. APGZX - Volatility Comparison
The current volatility for AB Municipal Income Fund California Portfolio (ALCAX) is 1.09%, while AB Large Cap Growth Fund Class Z (APGZX) has a volatility of 5.13%. This indicates that ALCAX experiences smaller price fluctuations and is considered to be less risky than APGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALCAX | APGZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 5.13% | -4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 10.81% | -9.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.76% | 19.91% | -15.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.80% | 20.12% | -16.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 19.60% | -15.77% |