APGAX vs. PRWAX

Last updated Jun 23, 2026

APGAX (AB Large Cap Growth Fund Class A) and PRWAX (T. Rowe Price All-Cap Opportunities Fund) are both Large Cap Growth Equities funds. Over the past 10 years, APGAX returned 16.30%/yr vs 17.60%/yr for PRWAX. Their correlation of 0.90 suggests significant overlap in exposure. APGAX charges 0.84%/yr vs 0.76%/yr for PRWAX.

Performance

APGAX vs. PRWAX - Performance Comparison

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

Returns By Period

In the year-to-date period, APGAX achieves a 3.65% return, which is significantly higher than PRWAX's 0.66% return. Over the past 10 years, APGAX has underperformed PRWAX with an annualized return of 16.30%, while PRWAX has yielded a comparatively higher 17.60% annualized return.

APGAX

• 1D: 1.75%
• 1M: -0.39%
• YTD: 3.65%
• 6M: 3.53%
• 1Y: 15.21%
• 3Y*: 17.75%
• 5Y*: 10.12%
• 10Y*: 16.30%

PRWAX

• 1D: 1.44%
• 1M: 1.82%
• YTD: 0.66%
• 6M: -0.19%
• 1Y: 14.17%
• 3Y*: 17.66%
• 5Y*: 9.83%
• 10Y*: 17.60%

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

APGAX vs. PRWAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APGAX AB Large Cap Growth Fund Class A	3.65%	12.96%	25.09%	34.66%	-28.96%	28.60%	34.05%	33.77%	1.97%	31.36%
PRWAX T. Rowe Price All-Cap Opportunities Fund	0.66%	16.37%	25.24%	29.02%	-21.37%	20.63%	44.73%	35.08%	1.26%	34.51%

Correlation

The correlation between APGAX and PRWAX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 29, 1992	0.90

The correlation between APGAX and PRWAX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

APGAX vs. PRWAX — Risk / Return Rank

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

APGAX

APGAX Risk / Return Rank: 13
APGAX Sharpe Ratio Rank: 13
APGAX Sortino Ratio Rank: 13
APGAX Omega Ratio Rank: 13
APGAX Calmar Ratio Rank: 10
APGAX Martin Ratio Rank: 13

PRWAX

PRWAX Risk / Return Rank: 13
PRWAX Sharpe Ratio Rank: 15
PRWAX Sortino Ratio Rank: 14
PRWAX Omega Ratio Rank: 15
PRWAX Calmar Ratio Rank: 11
PRWAX Martin Ratio Rank: 13

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. PRWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Large Cap Growth Fund Class A (APGAX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX). 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.

	APGAX	PRWAX	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.00	-0.04
Sortino ratio: Return per unit of downside risk	1.40	1.46	-0.06
Omega ratio: Gain probability vs. loss probability	1.18	1.19	-0.01
Calmar ratio: Return relative to maximum drawdown	0.93	1.00	-0.06
Martin ratio: Return relative to average drawdown	3.40	3.45	-0.05

APGAX vs. PRWAX - Sharpe Ratio Comparison

The current APGAX Sharpe Ratio is 0.96, which is comparable to the PRWAX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of APGAX and PRWAX, 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

APGAX vs. PRWAX - Drawdown Comparison

The maximum APGAX drawdown since its inception was -67.19%, which is greater than PRWAX's maximum drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for APGAX and PRWAX.

Drawdown Indicators

	APGAX	PRWAX	Difference
Max Drawdown Largest peak-to-trough decline	-67.19%	-55.06%	-12.13%
Max Drawdown (1Y) Largest decline over 1 year	-15.33%	-14.09%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.63%	-19.06%	-2.57%
Max Drawdown (5Y) Largest decline over 5 years	-34.04%	-29.38%	-4.66%
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	-30.50%	-3.54%
Current Drawdown Current decline from peak	-2.45%	-1.32%	-1.13%
Average Drawdown Average peak-to-trough decline	-19.39%	-9.89%	-9.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	4.06%	+0.14%

Volatility

APGAX vs. PRWAX - Volatility Comparison

AB Large Cap Growth Fund Class A (APGAX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX) have volatilities of 5.42% and 5.44%, 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	PRWAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	5.44%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.83%	11.62%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	14.97%	14.05%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.25%	17.72%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	18.77%	+0.94%

APGAX vs. PRWAX - Expense Ratio Comparison

APGAX has a 0.84% expense ratio, which is higher than PRWAX's 0.76% expense ratio.

Dividends

APGAX vs. PRWAX - Dividend Comparison

APGAX's dividend yield for the trailing twelve months is around 10.91%, more than PRWAX's 8.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APGAX AB Large Cap Growth Fund Class A	10.91%	11.31%	7.44%	1.75%	0.97%	8.04%	2.87%	3.66%	9.96%	4.09%	2.74%	9.23%
PRWAX T. Rowe Price All-Cap Opportunities Fund	8.29%	8.35%	9.22%	5.10%	3.11%	20.51%	15.44%	7.01%	12.58%	12.30%	6.19%	8.84%

Frequently Asked Questions

Can I hold both APGAX and PRWAX in my portfolio?

With a correlation of 0.90, APGAX and PRWAX 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 PRWAX?

PRWAX has higher volatility (5.44%) compared to APGAX (5.42%). In terms of maximum drawdown, APGAX dropped -67.19% vs PRWAX's -55.06%.

Which has better risk-adjusted returns?

PRWAX currently has the higher Sharpe Ratio (1.00 vs 0.96), 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.