ALCAX vs. PCTIX
Compare and contrast key facts about AB Municipal Income Fund California Portfolio (ALCAX) and PIMCO California Municipal Bond Fund (PCTIX).
ALCAX is managed by AllianceBernstein. It was launched on Dec 28, 1986. PCTIX is managed by PIMCO. It was launched on May 30, 2012.
Performance
ALCAX vs. PCTIX - Performance Comparison
Loading graphics...
ALCAX vs. PCTIX - 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% |
PCTIX PIMCO California Municipal Bond Fund | -0.43% | 3.92% | 3.12% | 7.98% | -10.90% | 1.96% | 6.89% | 9.11% | 1.11% | 7.30% |
Returns By Period
In the year-to-date period, ALCAX achieves a -0.59% return, which is significantly lower than PCTIX's -0.43% return. Over the past 10 years, ALCAX has underperformed PCTIX with an annualized return of 2.06%, while PCTIX has yielded a comparatively higher 2.66% 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%
PCTIX
- 1D
- 0.28%
- 1M
- -2.48%
- YTD
- -0.43%
- 6M
- 1.16%
- 1Y
- 3.85%
- 3Y*
- 3.93%
- 5Y*
- 1.09%
- 10Y*
- 2.66%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ALCAX vs. PCTIX - Expense Ratio Comparison
ALCAX has a 0.75% expense ratio, which is higher than PCTIX's 0.44% expense ratio.
Return for Risk
ALCAX vs. PCTIX — Risk / Return Rank
ALCAX
PCTIX
ALCAX vs. PCTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Fund California Portfolio (ALCAX) and PIMCO California Municipal Bond Fund (PCTIX). 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 | PCTIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.88 | +0.03 |
Sortino ratioReturn per unit of downside risk | 1.24 | 1.19 | +0.04 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 0.90 | +0.11 |
Martin ratioReturn relative to average drawdown | 3.17 | 2.59 | +0.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ALCAX | PCTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.88 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.25 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.61 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.81 | +0.45 |
Correlation
The correlation between ALCAX and PCTIX is 0.85, 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
ALCAX vs. PCTIX - Dividend Comparison
ALCAX's dividend yield for the trailing twelve months is around 3.37%, which matches PCTIX's 3.38% 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% |
PCTIX PIMCO California Municipal Bond Fund | 3.38% | 3.60% | 3.73% | 3.47% | 1.97% | 1.76% | 2.01% | 2.63% | 2.97% | 3.04% | 2.95% | 2.81% |
Drawdowns
ALCAX vs. PCTIX - Drawdown Comparison
The maximum ALCAX drawdown since its inception was -14.67%, smaller than the maximum PCTIX drawdown of -16.98%. Use the drawdown chart below to compare losses from any high point for ALCAX and PCTIX.
Loading graphics...
Drawdown Indicators
| ALCAX | PCTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.67% | -16.98% | +2.31% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -4.95% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -16.98% | +2.67% |
Max Drawdown (10Y)Largest decline over 10 years | -14.31% | -16.98% | +2.67% |
Current DrawdownCurrent decline from peak | -2.71% | -2.48% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -2.70% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.71% | -0.26% |
Volatility
ALCAX vs. PCTIX - Volatility Comparison
AB Municipal Income Fund California Portfolio (ALCAX) has a higher volatility of 1.09% compared to PIMCO California Municipal Bond Fund (PCTIX) at 1.03%. This indicates that ALCAX's price experiences larger fluctuations and is considered to be riskier than PCTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ALCAX | PCTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.03% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 1.74% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.76% | 4.99% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.80% | 4.40% | -0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 4.40% | -0.57% |