ALCAX vs. NRK
Compare and contrast key facts about AB Municipal Income Fund California Portfolio (ALCAX) and Nuveen New York AMT Free Quality Municipal Income (NRK).
ALCAX is managed by AllianceBernstein. It was launched on Dec 28, 1986. NRK is an actively managed fund by Nuveen. It was launched on Nov 21, 2002.
Performance
ALCAX vs. NRK - Performance Comparison
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ALCAX vs. NRK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALCAX AB Municipal Income Fund California Portfolio | -0.31% | 4.84% | 2.41% | 6.38% | -8.98% | 1.71% | 4.86% | 7.05% | 0.54% | 5.54% |
NRK Nuveen New York AMT Free Quality Municipal Income | 4.26% | 4.74% | 5.93% | 7.03% | -21.84% | 6.24% | 4.08% | 21.43% | -5.98% | 6.16% |
Returns By Period
In the year-to-date period, ALCAX achieves a -0.31% return, which is significantly lower than NRK's 4.26% return. Over the past 10 years, ALCAX has underperformed NRK with an annualized return of 2.09%, while NRK has yielded a comparatively higher 2.54% annualized return.
ALCAX
- 1D
- 0.29%
- 1M
- -2.16%
- YTD
- -0.31%
- 6M
- 1.02%
- 1Y
- 3.44%
- 3Y*
- 3.60%
- 5Y*
- 1.12%
- 10Y*
- 2.09%
NRK
- 1D
- 0.98%
- 1M
- -2.09%
- YTD
- 4.26%
- 6M
- 4.75%
- 1Y
- 8.11%
- 3Y*
- 5.97%
- 5Y*
- 0.06%
- 10Y*
- 2.54%
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ALCAX vs. NRK - Expense Ratio Comparison
ALCAX has a 0.75% expense ratio, which is lower than NRK's 2.16% expense ratio.
Return for Risk
ALCAX vs. NRK — Risk / Return Rank
ALCAX
NRK
ALCAX vs. NRK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Fund California Portfolio (ALCAX) and Nuveen New York AMT Free Quality Municipal Income (NRK). 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 | NRK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.96 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.11 | 1.49 | -0.38 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.16 | -0.15 |
Martin ratioReturn relative to average drawdown | 3.15 | 2.62 | +0.52 |
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 | NRK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.96 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.01 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.25 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.29 | +0.97 |
Correlation
The correlation between ALCAX and NRK is 0.26, 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. NRK - Dividend Comparison
ALCAX's dividend yield for the trailing twelve months is around 3.36%, less than NRK's 8.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALCAX AB Municipal Income Fund California Portfolio | 3.36% | 4.38% | 3.15% | 2.84% | 2.43% | 1.61% | 2.74% | 3.35% | 3.63% | 3.21% | 3.38% | 3.37% |
NRK Nuveen New York AMT Free Quality Municipal Income | 8.03% | 8.21% | 6.74% | 4.06% | 5.41% | 4.18% | 4.15% | 3.98% | 4.68% | 4.85% | 5.37% | 5.44% |
Drawdowns
ALCAX vs. NRK - Drawdown Comparison
The maximum ALCAX drawdown since its inception was -14.67%, smaller than the maximum NRK drawdown of -40.18%. Use the drawdown chart below to compare losses from any high point for ALCAX and NRK.
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Drawdown Indicators
| ALCAX | NRK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.67% | -40.18% | +25.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -7.55% | +2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -31.06% | +16.75% |
Max Drawdown (10Y)Largest decline over 10 years | -14.31% | -31.06% | +16.75% |
Current DrawdownCurrent decline from peak | -2.43% | -5.91% | +3.48% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -8.22% | +6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 3.33% | -1.87% |
Volatility
ALCAX vs. NRK - Volatility Comparison
The current volatility for AB Municipal Income Fund California Portfolio (ALCAX) is 1.15%, while Nuveen New York AMT Free Quality Municipal Income (NRK) has a volatility of 3.50%. This indicates that ALCAX experiences smaller price fluctuations and is considered to be less risky than NRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALCAX | NRK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 3.50% | -2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | 5.50% | -3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.76% | 8.54% | -3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.80% | 9.76% | -5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 10.28% | -6.45% |