ANBIX vs. MISHX

Last updated Aug 1, 2026

ANBIX (AB Bond Inflation Strategy) and MISHX (AB Municipal Income Shares) are both mutual funds - ANBIX is a Inflation-Protected Bonds fund managed by AllianceBernstein, while MISHX is a High Yield Muni fund managed by AllianceBernstein. Over the past 10 years, ANBIX returned 3.43%/yr vs 3.33%/yr for MISHX. Their 0.42 correlation means their historical movements had little consistent relationship. ANBIX charges 0.59%/yr vs 0.00%/yr for MISHX.

Performance

ANBIX vs. MISHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Bond Inflation Strategy (ANBIX) and AB Municipal Income Shares (MISHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANBIX achieves a 1.03% return, which is significantly higher than MISHX's 0.89% return. Both investments have delivered pretty close results over the past 10 years, with ANBIX having a 3.43% annualized return and MISHX not far behind at 3.33%.

ANBIX

• 1D: 0.10%
• 1M: 0.04%
• 6M: 0.54%
• YTD: 1.03%
• 1Y: 2.11%
• 3Y*: 4.84%
• 5Y*: 1.76%
• 10Y*: 3.43%
• ALL TIME*: 3.31%

MISHX

• 1D: -0.36%
• 1M: -2.05%
• 6M: 0.10%
• YTD: 0.89%
• 1Y: 6.01%
• 3Y*: 5.33%
• 5Y*: 1.03%
• 10Y*: 3.33%
• ALL TIME*: 4.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ANBIX AB Bond Inflation Strategy	$0.00	$0.00	$0.00
MISHX AB Municipal Income Shares	$0.00	$0.00	$0.00

ANBIX vs. MISHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANBIX AB Bond Inflation Strategy	1.03%	7.52%	3.20%	5.20%	-8.50%	6.35%	9.35%	9.29%	-0.76%	2.93%
MISHX AB Municipal Income Shares	0.89%	6.41%	5.29%	6.24%	-12.77%	6.81%	6.22%	11.52%	0.80%	9.59%

Correlation

The correlation between ANBIX and MISHX is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.46
Correlation (10Y) Provides a long-term view across more market conditions.	0.45
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.42

The correlation between ANBIX and MISHX shifts across timeframes, from 0.37 (1 year) to 0.57 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ANBIX vs. MISHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ANBIX

ANBIX Risk / Return Rank: 48
ANBIX Sharpe Ratio Rank: 39
ANBIX Sortino Ratio Rank: 41
ANBIX Omega Ratio Rank: 42
ANBIX Calmar Ratio Rank: 72
ANBIX Martin Ratio Rank: 48

MISHX

MISHX Risk / Return Rank: 81
MISHX Sharpe Ratio Rank: 88
MISHX Sortino Ratio Rank: 90
MISHX Omega Ratio Rank: 92
MISHX Calmar Ratio Rank: 72
MISHX Martin Ratio Rank: 65

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ANBIX vs. MISHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Bond Inflation Strategy (ANBIX) and AB Municipal Income Shares (MISHX). 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.

	ANBIX	MISHX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.16	-0.97
Sortino ratio: Return per unit of downside risk	1.80	3.37	-1.58
Omega ratio: Gain probability vs. loss probability	1.23	1.53	-0.30
Calmar ratio: Return relative to maximum drawdown	2.38	2.32	+0.07
Martin ratio: Return relative to average drawdown	6.89	8.05	-1.16

ANBIX vs. MISHX - Sharpe Ratio Comparison

The current ANBIX Sharpe Ratio is 1.20, which is lower than the MISHX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of ANBIX and MISHX, 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

ANBIX vs. MISHX - Drawdown Comparison

The maximum ANBIX drawdown since its inception was -11.56%, smaller than the maximum MISHX drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for ANBIX and MISHX.

Drawdown Indicators

	ANBIX	MISHX	Difference
Max Drawdown Largest peak-to-trough decline	-11.56%	-19.03%	+7.47%
Max Drawdown (1Y) Largest decline over 1 year	-1.05%	-3.09%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-2.51%	-6.94%	+4.43%
Max Drawdown (5Y) Largest decline over 5 years	-10.85%	-18.20%	+7.35%
Max Drawdown (10Y) Largest decline over 10 years	-11.56%	-19.03%	+7.47%
Current Drawdown Current decline from peak	-0.58%	-2.14%	+1.56%
Average Drawdown Average peak-to-trough decline	-2.18%	-3.38%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.89%	-0.53%

Volatility

ANBIX vs. MISHX - Volatility Comparison

The current volatility for AB Bond Inflation Strategy (ANBIX) is 0.50%, while AB Municipal Income Shares (MISHX) has a volatility of 1.01%. This indicates that ANBIX experiences smaller price fluctuations and is considered to be less risky than MISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANBIX	MISHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.50%	1.01%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	2.68%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	3.32%	-1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.48%	5.02%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.00%	5.19%	-1.19%

ANBIX vs. MISHX - Expense Ratio Comparison

ANBIX has a 0.59% expense ratio, which is higher than MISHX's 0.00% expense ratio.

Dividends

ANBIX vs. MISHX - Dividend Comparison

ANBIX's dividend yield for the trailing twelve months is around 4.78%, more than MISHX's 4.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANBIX AB Bond Inflation Strategy	4.78%	4.93%	3.86%	4.55%	6.47%	4.70%	2.22%	3.19%	3.39%	2.05%	2.13%	1.61%
MISHX AB Municipal Income Shares	4.51%	6.23%	4.80%	3.23%	3.75%	2.77%	3.56%	3.98%	3.77%	3.78%	4.25%	4.38%

Frequently Asked Questions

Can I hold both ANBIX and MISHX in my portfolio?

ANBIX and MISHX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANBIX or MISHX?

MISHX has higher volatility (1.01%) compared to ANBIX (0.50%). In terms of maximum drawdown, ANBIX dropped -11.56% vs MISHX's -19.03%.

Which has better risk-adjusted returns?

MISHX currently has the higher Sharpe Ratio (2.16 vs 1.20), 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.