APGZX vs. MGK

Last updated Jun 3, 2026

APGZX (AB Large Cap Growth Fund Class Z) and MGK (Vanguard Mega Cap Growth ETF) are both Large Cap Growth Equities funds. Over the past 10 years, APGZX returned 16.76%/yr vs 19.37%/yr for MGK. With a 0.96 correlation, they move nearly in lockstep. APGZX charges 0.52%/yr vs 0.05%/yr for MGK.

Performance

APGZX vs. MGK - Performance Comparison

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

Returns By Period

In the year-to-date period, APGZX achieves a 6.42% return, which is significantly lower than MGK's 11.27% return. Over the past 10 years, APGZX has underperformed MGK with an annualized return of 16.76%, while MGK has yielded a comparatively higher 19.37% annualized return.

APGZX

• 1D: 0.33%
• 1M: 3.94%
• YTD: 6.42%
• 6M: 5.36%
• 1Y: 18.09%
• 3Y*: 19.68%
• 5Y*: 11.54%
• 10Y*: 16.76%

MGK

• 1D: -0.30%
• 1M: 8.29%
• YTD: 11.27%
• 6M: 10.68%
• 1Y: 32.46%
• 3Y*: 27.25%
• 5Y*: 16.84%
• 10Y*: 19.37%

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

APGZX vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APGZX AB Large Cap Growth Fund Class Z	6.42%	13.26%	25.47%	35.12%	-28.74%	29.00%	34.47%	34.24%	2.30%	31.81%
MGK Vanguard Mega Cap Growth ETF	11.27%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between APGZX and MGK is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.96

The correlation between APGZX and MGK has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

APGZX vs. MGK — Risk / Return Rank

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

APGZX

APGZX Risk / Return Rank: 17
APGZX Sharpe Ratio Rank: 20
APGZX Sortino Ratio Rank: 19
APGZX Omega Ratio Rank: 19
APGZX Calmar Ratio Rank: 12
APGZX Martin Ratio Rank: 16

MGK

MGK Risk / Return Rank: 51
MGK Sharpe Ratio Rank: 59
MGK Sortino Ratio Rank: 56
MGK Omega Ratio Rank: 56
MGK Calmar Ratio Rank: 40
MGK 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.

APGZX vs. MGK - Risk-Adjusted Trends Comparison

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

	APGZX	MGK	Difference
Sharpe ratio Return per unit of total volatility	1.33	2.02	-0.69
Sortino ratio Return per unit of downside risk	1.89	2.71	-0.83
Omega ratio Gain probability vs. loss probability	1.24	1.35	-0.11
Calmar ratio Return relative to maximum drawdown	1.25	2.00	-0.75
Martin ratio Return relative to average drawdown	4.64	6.90	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APGZX vs. MGK - Sharpe Ratio Comparison

The current APGZX Sharpe Ratio is 1.33, which is lower than the MGK Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of APGZX and MGK, 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

	APGZX	MGK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	2.02	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.75	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.89	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.66	+0.17

Drawdowns

APGZX vs. MGK - Drawdown Comparison

The maximum APGZX drawdown since its inception was -33.87%, smaller than the maximum MGK drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for APGZX and MGK.

Drawdown Indicators

	APGZX	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-33.87%	-47.97%	+14.10%
Max Drawdown (1Y) Largest decline over 1 year	-15.21%	-16.85%	+1.64%
Max Drawdown (3Y) Largest decline over 3 years	-21.57%	-23.36%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	-33.87%	-36.01%	+2.14%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	-36.01%	+2.14%
Current Drawdown Current decline from peak	0.00%	-0.30%	+0.30%
Average Drawdown Average peak-to-trough decline	-6.03%	-7.47%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.09%	4.89%	-0.80%

Volatility

APGZX vs. MGK - Volatility Comparison

The current volatility for AB Large Cap Growth Fund Class Z (APGZX) is 3.11%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 3.75%. This indicates that APGZX experiences smaller price fluctuations and is considered to be less risky than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APGZX	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	3.75%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	10.90%	12.32%	-1.42%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	16.20%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.15%	22.63%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	21.88%	-2.21%

APGZX vs. MGK - Expense Ratio Comparison

APGZX has a 0.52% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

APGZX vs. MGK - Dividend Comparison

APGZX's dividend yield for the trailing twelve months is around 9.18%, more than MGK's 0.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APGZX AB Large Cap Growth Fund Class Z	9.18%	9.77%	6.62%	1.69%	0.87%	7.19%	2.60%	3.49%	9.11%	3.78%	2.72%	0.00%
MGK Vanguard Mega Cap Growth ETF	0.31%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%

Frequently Asked Questions

Can I hold both APGZX and MGK in my portfolio?

With a correlation of 0.94, APGZX and MGK 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, APGZX or MGK?

MGK has higher volatility (3.75%) compared to APGZX (3.11%). In terms of maximum drawdown, APGZX dropped -33.87% vs MGK's -47.97%.

Which has better risk-adjusted returns?

MGK currently has the higher Sharpe Ratio (2.02 vs 1.33), 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.