ALTFX vs. ALTHX

Last updated Jun 17, 2026

ALTFX (AB Sustainable Global Thematic Fund) and ALTHX (AB Municipal Income Fund National Portfolio) are both mutual funds - ALTFX is a Global Equities fund managed by AllianceBernstein, while ALTHX is a Municipal Bonds fund managed by AllianceBernstein. Over the past 10 years, ALTFX returned 11.06%/yr vs 2.02%/yr for ALTHX. At a correlation of -0.06, they often move in opposite directions. ALTFX charges 1.02%/yr vs 0.75%/yr for ALTHX.

Performance

ALTFX vs. ALTHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Sustainable Global Thematic Fund (ALTFX) and AB Municipal Income Fund National Portfolio (ALTHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALTFX achieves a 3.56% return, which is significantly higher than ALTHX's 1.68% return. Over the past 10 years, ALTFX has outperformed ALTHX with an annualized return of 11.06%, while ALTHX has yielded a comparatively lower 2.02% annualized return.

ALTFX

• 1D: 1.57%
• 1M: 1.64%
• YTD: 3.56%
• 6M: 4.04%
• 1Y: 6.12%
• 3Y*: 6.54%
• 5Y*: 2.32%
• 10Y*: 11.06%

ALTHX

• 1D: 0.10%
• 1M: 1.46%
• YTD: 1.68%
• 6M: 2.09%
• 1Y: 6.79%
• 3Y*: 4.15%
• 5Y*: 0.89%
• 10Y*: 2.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALTFX vs. ALTHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALTFX AB Sustainable Global Thematic Fund	3.56%	6.22%	5.94%	15.97%	-27.19%	22.64%	39.40%	33.60%	-9.86%	37.16%
ALTHX AB Municipal Income Fund National Portfolio	1.68%	5.05%	2.36%	5.76%	-10.06%	2.15%	4.77%	7.22%	0.46%	5.75%

Correlation

The correlation between ALTFX and ALTHX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	-0.06

The correlation between ALTFX and ALTHX shifts across timeframes, from -0.06 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ALTFX vs. ALTHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALTFX

ALTFX Risk / Return Rank: 7
ALTFX Sharpe Ratio Rank: 7
ALTFX Sortino Ratio Rank: 7
ALTFX Omega Ratio Rank: 7
ALTFX Calmar Ratio Rank: 6
ALTFX Martin Ratio Rank: 6

ALTHX

ALTHX Risk / Return Rank: 71
ALTHX Sharpe Ratio Rank: 85
ALTHX Sortino Ratio Rank: 90
ALTHX Omega Ratio Rank: 91
ALTHX Calmar Ratio Rank: 45
ALTHX Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALTFX vs. ALTHX - 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 National Portfolio (ALTHX). 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	ALTHX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	2.54	-2.05
Sortino ratio: Return per unit of downside risk	0.77	4.08	-3.31
Omega ratio: Gain probability vs. loss probability	1.10	1.62	-0.53
Calmar ratio: Return relative to maximum drawdown	0.46	2.39	-1.93
Martin ratio: Return relative to average drawdown	1.38	8.30	-6.93

ALTFX vs. ALTHX - Sharpe Ratio Comparison

The current ALTFX Sharpe Ratio is 0.48, which is lower than the ALTHX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of ALTFX and ALTHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALTFX vs. ALTHX - Drawdown Comparison

The maximum ALTFX drawdown since its inception was -80.01%, which is greater than ALTHX's maximum drawdown of -15.22%. Use the drawdown chart below to compare losses from any high point for ALTFX and ALTHX.

Drawdown Indicators

	ALTFX	ALTHX	Difference
Max Drawdown Largest peak-to-trough decline	-80.01%	-15.22%	-64.79%
Max Drawdown (1Y) Largest decline over 1 year	-15.81%	-2.85%	-12.96%
Max Drawdown (3Y) Largest decline over 3 years	-22.92%	-5.46%	-17.46%
Max Drawdown (5Y) Largest decline over 5 years	-35.87%	-14.37%	-21.50%
Max Drawdown (10Y) Largest decline over 10 years	-35.87%	-14.37%	-21.50%
Current Drawdown Current decline from peak	-3.02%	-0.46%	-2.56%
Average Drawdown Average peak-to-trough decline	-36.91%	-2.00%	-34.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	0.82%	+4.50%

Volatility

ALTFX vs. ALTHX - Volatility Comparison

AB Sustainable Global Thematic Fund (ALTFX) has a higher volatility of 6.32% compared to AB Municipal Income Fund National Portfolio (ALTHX) at 1.02%. This indicates that ALTFX's price experiences larger fluctuations and is considered to be riskier than ALTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALTFX	ALTHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	1.02%	+5.30%
Volatility (6M) Calculated over the trailing 6-month period	12.53%	2.02%	+10.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.26%	2.69%	+12.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	3.89%	+14.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	3.96%	+14.09%

ALTFX vs. ALTHX - Expense Ratio Comparison

ALTFX has a 1.02% expense ratio, which is higher than ALTHX's 0.75% expense ratio.

Dividends

ALTFX vs. ALTHX - Dividend Comparison

ALTFX's dividend yield for the trailing twelve months is around 13.06%, more than ALTHX's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALTFX AB Sustainable Global Thematic Fund	13.06%	13.53%	8.18%	0.03%	2.61%	9.99%	7.23%	6.01%	8.36%	0.00%	4.05%	0.00%
ALTHX AB Municipal Income Fund National Portfolio	3.49%	4.55%	3.27%	2.73%	2.34%	1.57%	2.43%	2.84%	3.12%	3.01%	3.11%	3.37%

Frequently Asked Questions

Can I hold both ALTFX and ALTHX in my portfolio?

ALTFX and ALTHX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALTFX or ALTHX?

ALTFX has higher volatility (6.32%) compared to ALTHX (1.02%). In terms of maximum drawdown, ALTFX dropped -80.01% vs ALTHX's -15.22%.

Which has better risk-adjusted returns?

ALTHX currently has the higher Sharpe Ratio (2.54 vs 0.48), 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.