APGAX vs. APGZX

Last updated Jun 4, 2026

APGAX (AB Large Cap Growth Fund Class A) and APGZX (AB Large Cap Growth Fund Class Z) are both Large Cap Growth Equities funds from AllianceBernstein. Over the past 10 years, APGAX returned 16.31%/yr vs 16.68%/yr for APGZX. With a 1.00 correlation, they move nearly in lockstep. APGAX charges 0.84%/yr vs 0.52%/yr for APGZX.

Performance

APGAX vs. APGZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Large Cap Growth Fund Class A (APGAX) and AB Large Cap Growth Fund Class Z (APGZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with APGAX having a 5.59% return and APGZX slightly higher at 5.74%. Both investments have delivered pretty close results over the past 10 years, with APGAX having a 16.31% annualized return and APGZX not far ahead at 16.68%.

APGAX

• 1D: -0.63%
• 1M: 3.66%
• YTD: 5.59%
• 6M: 4.68%
• 1Y: 16.23%
• 3Y*: 19.07%
• 5Y*: 11.17%
• 10Y*: 16.31%

APGZX

• 1D: -0.63%
• 1M: 3.68%
• YTD: 5.74%
• 6M: 4.86%
• 1Y: 16.55%
• 3Y*: 19.42%
• 5Y*: 11.52%
• 10Y*: 16.68%

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

APGAX vs. APGZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APGAX AB Large Cap Growth Fund Class A	5.59%	12.96%	25.09%	34.66%	-28.96%	28.60%	34.05%	33.77%	1.97%	31.36%
APGZX AB Large Cap Growth Fund Class Z	5.74%	13.26%	25.47%	35.12%	-28.74%	29.00%	34.47%	34.24%	2.30%	31.81%

Correlation

The correlation between APGAX and APGZX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	1.00

The correlation between APGAX and APGZX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

APGAX vs. APGZX — Risk / Return Rank

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

APGAX

APGAX Risk / Return Rank: 15
APGAX Sharpe Ratio Rank: 17
APGAX Sortino Ratio Rank: 17
APGAX Omega Ratio Rank: 17
APGAX Calmar Ratio Rank: 12
APGAX Martin Ratio Rank: 14

APGZX

APGZX Risk / Return Rank: 16
APGZX Sharpe Ratio Rank: 18
APGZX Sortino Ratio Rank: 17
APGZX Omega Ratio Rank: 18
APGZX Calmar Ratio Rank: 12
APGZX Martin Ratio Rank: 15

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.

APGAX vs. APGZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Large Cap Growth Fund Class A (APGAX) and AB Large Cap Growth Fund Class Z (APGZX). 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.

	APGAX	APGZX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.21	-0.02
Sortino ratio: Return per unit of downside risk	1.71	1.74	-0.03
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.12	1.15	-0.03
Martin ratio: Return relative to average drawdown	4.13	4.26	-0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APGAX vs. APGZX - Sharpe Ratio Comparison

The current APGAX Sharpe Ratio is 1.19, which is comparable to the APGZX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of APGAX and APGZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APGAX	APGZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.21	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.57	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.85	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.83	-0.29

Drawdowns

APGAX vs. APGZX - Drawdown Comparison

The maximum APGAX drawdown since its inception was -67.19%, which is greater than APGZX's maximum drawdown of -33.87%. Use the drawdown chart below to compare losses from any high point for APGAX and APGZX.

Drawdown Indicators

	APGAX	APGZX	Difference
Max Drawdown Largest peak-to-trough decline	-67.19%	-33.87%	-33.32%
Max Drawdown (1Y) Largest decline over 1 year	-15.33%	-15.21%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-21.63%	-21.57%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-34.04%	-33.87%	-0.17%
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	-33.87%	-0.17%
Current Drawdown Current decline from peak	-0.63%	-0.63%	0.00%
Average Drawdown Average peak-to-trough decline	-19.42%	-6.02%	-13.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	4.09%	+0.05%

Volatility

APGAX vs. APGZX - Volatility Comparison

AB Large Cap Growth Fund Class A (APGAX) and AB Large Cap Growth Fund Class Z (APGZX) have volatilities of 3.20% and 3.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APGAX	APGZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	3.21%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	10.91%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	14.36%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.16%	20.15%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	19.67%	0.00%

APGAX vs. APGZX - Expense Ratio Comparison

APGAX has a 0.84% expense ratio, which is higher than APGZX's 0.52% expense ratio.

Dividends

APGAX vs. APGZX - Dividend Comparison

APGAX's dividend yield for the trailing twelve months is around 10.71%, more than APGZX's 9.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APGAX AB Large Cap Growth Fund Class A	10.71%	11.31%	7.44%	1.75%	0.97%	8.04%	2.87%	3.66%	9.96%	4.09%	2.74%	9.23%
APGZX AB Large Cap Growth Fund Class Z	9.24%	9.77%	6.62%	1.69%	0.87%	7.19%	2.60%	3.49%	9.11%	3.78%	2.72%	0.00%

Frequently Asked Questions

Can I hold both APGAX and APGZX in my portfolio?

With a correlation of 1.00, APGAX and APGZX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, APGAX or APGZX?

APGZX has higher volatility (3.21%) compared to APGAX (3.20%). In terms of maximum drawdown, APGAX dropped -67.19% vs APGZX's -33.87%.

Which has better risk-adjusted returns?

APGZX currently has the higher Sharpe Ratio (1.21 vs 1.19), 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.