ALNYX vs. AGDAX
ALNYX (AB Municipal Income Fund New York Portfolio) and AGDAX (AB High Income Fund) are both mutual funds - ALNYX is a Municipal Bonds fund managed by AllianceBernstein, while AGDAX is a High Yield Bonds fund managed by AllianceBernstein. Over the past 10 years, ALNYX returned 1.72%/yr vs 4.24%/yr for AGDAX. Their 0.27 correlation means their historical movements had little consistent relationship. ALNYX charges 0.75%/yr vs 0.84%/yr for AGDAX.
Performance
ALNYX vs. AGDAX - Performance Comparison
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Returns By Period
In the year-to-date period, ALNYX achieves a 0.92% return, which is significantly lower than AGDAX's 1.45% return. Over the past 10 years, ALNYX has underperformed AGDAX with an annualized return of 1.72%, while AGDAX has yielded a comparatively higher 4.24% annualized return.
ALNYX
- 1D
- -0.11%
- 1M
- -1.82%
- 6M
- 0.20%
- YTD
- 0.92%
- 1Y
- 5.41%
- 3Y*
- 3.50%
- 5Y*
- 0.40%
- 10Y*
- 1.72%
- ALL TIME*
- 4.48%
AGDAX
- 1D
- 0.00%
- 1M
- -0.86%
- 6M
- 0.60%
- YTD
- 1.45%
- 1Y
- 4.65%
- 3Y*
- 7.79%
- 5Y*
- 3.36%
- 10Y*
- 4.24%
- ALL TIME*
- 9.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
AGDAX AB High Income Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
ALNYX vs. AGDAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALNYX AB Municipal Income Fund New York Portfolio | 0.92% | 4.23% | 3.03% | 5.01% | -10.25% | 3.11% | 3.30% | 7.31% | 0.34% | 5.48% |
AGDAX AB High Income Fund | 1.45% | 8.06% | 7.36% | 13.63% | -12.45% | 3.87% | 2.91% | 13.71% | -5.29% | 7.94% |
Correlation
The correlation between ALNYX and AGDAX is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1995 | 0.27 |
Over the past year, ALNYX and AGDAX have become more correlated (0.47) than their long-term average of 0.27, meaning their price movements have been converging.
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Return for Risk
ALNYX vs. AGDAX — Risk / Return Rank
ALNYX
AGDAX
ALNYX vs. AGDAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Fund New York Portfolio (ALNYX) and AB High Income Fund (AGDAX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ALNYX | AGDAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.30 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.64 | +0.84 |
| Martin ratioReturn relative to average drawdown | 8.38 | 7.53 | +0.84 |
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Drawdowns
ALNYX vs. AGDAX - Drawdown Comparison
The maximum ALNYX drawdown since its inception was -15.44%, smaller than the maximum AGDAX drawdown of -45.59%. Use the drawdown chart below to compare losses from any high point for ALNYX and AGDAX.
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Drawdown Indicators
| ALNYX | AGDAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.44% | -45.59% | +30.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -2.76% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -4.24% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -14.54% | -16.96% | +2.42% |
Max Drawdown (10Y)Largest decline over 10 years | -14.63% | -25.82% | +11.19% |
Current DrawdownCurrent decline from peak | -1.82% | -1.00% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -1.93% | -4.45% | +2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.60% | +0.09% |
Volatility
ALNYX vs. AGDAX - Volatility Comparison
AB Municipal Income Fund New York Portfolio (ALNYX) has a higher volatility of 0.77% compared to AB High Income Fund (AGDAX) at 0.56%. This indicates that ALNYX's price experiences larger fluctuations and is considered to be riskier than AGDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALNYX | AGDAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.56% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 2.63% | -0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 3.34% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.81% | 4.93% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 5.61% | -1.80% |
ALNYX vs. AGDAX - Expense Ratio Comparison
ALNYX has a 0.75% expense ratio, which is lower than AGDAX's 0.84% expense ratio.
Dividends
ALNYX vs. AGDAX - Dividend Comparison
ALNYX's dividend yield for the trailing twelve months is around 3.09%, less than AGDAX's 6.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGDAX AB High Income Fund | 6.19% | 6.85% | 5.89% | 6.53% | 6.79% | 4.95% | 5.86% | 6.27% | 7.47% | 5.84% | 6.25% | 7.42% |
ALNYX AB Municipal Income Fund New York Portfolio | 3.09% | 4.31% | 2.99% | 2.56% | 2.36% | 1.70% | 2.49% | 2.89% | 3.18% | 2.88% | 2.95% | 3.16% |
Frequently Asked Questions
ALNYX and AGDAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALNYX has higher volatility (0.77%) compared to AGDAX (0.56%). In terms of maximum drawdown, ALNYX dropped -15.44% vs AGDAX's -45.59%.
ALNYX currently has the higher Sharpe Ratio (2.16 vs 1.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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