ALTFX vs. ALCAX
ALTFX (AB Sustainable Global Thematic Fund) and ALCAX (AB Municipal Income Fund California Portfolio) are both mutual funds - ALTFX is a Global Equities fund managed by AllianceBernstein, while ALCAX is a Municipal Bonds fund managed by AllianceBernstein. Over the past 10 years, ALTFX returned 10.03%/yr vs 1.93%/yr for ALCAX. Their -0.05 correlation means they have often moved in opposite directions in the past. ALTFX charges 1.02%/yr vs 0.75%/yr for ALCAX.
Performance
ALTFX vs. ALCAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ALTFX achieves a -0.37% return, which is significantly lower than ALCAX's 0.54% return. Over the past 10 years, ALTFX has outperformed ALCAX with an annualized return of 10.03%, while ALCAX has yielded a comparatively lower 1.93% annualized return.
ALTFX
- 1D
- -1.66%
- 1M
- -4.77%
- 6M
- -1.81%
- YTD
- -0.37%
- 1Y
- -0.99%
- 3Y*
- 4.39%
- 5Y*
- 0.55%
- 10Y*
- 10.03%
- ALL TIME*
- 6.86%
ALCAX
- 1D
- -0.10%
- 1M
- -1.61%
- 6M
- 0.16%
- YTD
- 0.54%
- 1Y
- 5.87%
- 3Y*
- 3.78%
- 5Y*
- 0.78%
- 10Y*
- 1.93%
- ALL TIME*
- 4.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ALTFX vs. ALCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALTFX AB Sustainable Global Thematic Fund | -0.37% | 6.22% | 5.94% | 15.97% | -27.19% | 22.64% | 39.40% | 33.60% | -9.86% | 37.16% |
ALCAX AB Municipal Income Fund California Portfolio | 0.54% | 4.84% | 2.41% | 6.38% | -8.98% | 1.71% | 4.86% | 7.05% | 0.54% | 5.54% |
Correlation
The correlation between ALTFX and ALCAX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 1996 | -0.05 |
The correlation between ALTFX and ALCAX shifts across timeframes, from -0.05 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ALTFX vs. ALCAX — Risk / Return Rank
ALTFX
ALCAX
ALTFX vs. ALCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Sustainable Global Thematic Fund (ALTFX) and AB Municipal Income Fund California Portfolio (ALCAX). 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.
| ALTFX | ALCAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.50 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 2.00 | -2.10 |
| Martin ratioReturn relative to average drawdown | -0.30 | 6.35 | -6.65 |
Loading charts...
Drawdowns
ALTFX vs. ALCAX - Drawdown Comparison
The maximum ALTFX drawdown since its inception was -80.01%, which is greater than ALCAX's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for ALTFX and ALCAX.
Loading charts...
Drawdown Indicators
| ALTFX | ALCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.01% | -14.67% | -65.34% |
Max Drawdown (1Y)Largest decline over 1 year | -15.81% | -2.90% | -12.91% |
Max Drawdown (3Y)Largest decline over 3 years | -22.92% | -4.64% | -18.28% |
Max Drawdown (5Y)Largest decline over 5 years | -35.87% | -14.31% | -21.56% |
Max Drawdown (10Y)Largest decline over 10 years | -35.87% | -14.31% | -21.56% |
Current DrawdownCurrent decline from peak | -6.70% | -1.61% | -5.09% |
Average DrawdownAverage peak-to-trough decline | -36.78% | -1.79% | -34.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 0.91% | +4.50% |
Volatility
ALTFX vs. ALCAX - Volatility Comparison
AB Sustainable Global Thematic Fund (ALTFX) has a higher volatility of 4.28% compared to AB Municipal Income Fund California Portfolio (ALCAX) at 0.92%. This indicates that ALTFX's price experiences larger fluctuations and is considered to be riskier than ALCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ALTFX | ALCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 0.92% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 2.17% | +10.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.79% | 2.77% | +13.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.37% | 3.86% | +14.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.98% | 3.85% | +14.13% |
ALTFX vs. ALCAX - Expense Ratio Comparison
ALTFX has a 1.02% expense ratio, which is higher than ALCAX's 0.75% expense ratio.
Dividends
ALTFX vs. ALCAX - Dividend Comparison
ALTFX's dividend yield for the trailing twelve months is around 13.58%, more than ALCAX's 3.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALCAX AB Municipal Income Fund California Portfolio | 3.39% | 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 | 13.58% | 13.53% | 8.18% | 0.03% | 2.61% | 9.99% | 7.23% | 6.01% | 8.36% | 0.00% | 4.05% | 0.00% |
Frequently Asked Questions
ALTFX and ALCAX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALTFX has higher volatility (4.28%) compared to ALCAX (0.92%). In terms of maximum drawdown, ALTFX dropped -80.01% vs ALCAX's -14.67%.
ALCAX currently has the higher Sharpe Ratio (2.10 vs -0.10), 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.
Find the right allocation for ALTFX and ALCAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer