ATTYX vs. AGDAX

Last updated Jun 4, 2026

ATTYX (AB Tax-Aware Fixed Income Opportunities Portfolio) and AGDAX (AB High Income Fund) are both mutual funds - ATTYX is a Municipal Bonds fund managed by AllianceBernstein, while AGDAX is a High Yield Bonds fund managed by AllianceBernstein. Over the past 10 years, ATTYX returned 2.68%/yr vs 4.63%/yr for AGDAX. At a 0.34 correlation, their price movements are largely independent. ATTYX charges 0.50%/yr vs 0.84%/yr for AGDAX.

Performance

ATTYX vs. AGDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Tax-Aware Fixed Income Opportunities Portfolio (ATTYX) and AB High Income Fund (AGDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATTYX achieves a 1.69% return, which is significantly lower than AGDAX's 1.78% return. Over the past 10 years, ATTYX has underperformed AGDAX with an annualized return of 2.68%, while AGDAX has yielded a comparatively higher 4.63% annualized return.

ATTYX

• 1D: 0.19%
• 1M: 0.90%
• YTD: 1.69%
• 6M: 2.03%
• 1Y: 7.26%
• 3Y*: 5.04%
• 5Y*: 1.56%
• 10Y*: 2.68%

AGDAX

• 1D: -0.29%
• 1M: 0.42%
• YTD: 1.78%
• 6M: 2.35%
• 1Y: 7.21%
• 3Y*: 8.91%
• 5Y*: 3.69%
• 10Y*: 4.63%

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

ATTYX vs. AGDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATTYX AB Tax-Aware Fixed Income Opportunities Portfolio	1.69%	6.04%	3.78%	5.54%	-9.61%	4.86%	4.77%	8.66%	0.02%	5.07%
AGDAX AB High Income Fund	1.78%	8.06%	7.36%	13.63%	-12.45%	3.87%	2.91%	13.71%	-5.29%	7.94%

Correlation

The correlation between ATTYX and AGDAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Dec 16, 2013	0.34

The correlation between ATTYX and AGDAX shifts across timeframes, from 0.34 (all time) to 0.54 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ATTYX vs. AGDAX — Risk / Return Rank

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

ATTYX

ATTYX Risk / Return Rank: 66
ATTYX Sharpe Ratio Rank: 77
ATTYX Sortino Ratio Rank: 86
ATTYX Omega Ratio Rank: 89
ATTYX Calmar Ratio Rank: 39
ATTYX Martin Ratio Rank: 38

AGDAX

AGDAX Risk / Return Rank: 67
AGDAX Sharpe Ratio Rank: 57
AGDAX Sortino Ratio Rank: 82
AGDAX Omega Ratio Rank: 79
AGDAX Calmar Ratio Rank: 49
AGDAX Martin Ratio Rank: 69

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.

ATTYX vs. AGDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Fixed Income Opportunities Portfolio (ATTYX) and AB High Income Fund (AGDAX). 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.

	ATTYX	AGDAX	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.22	+0.35
Sortino ratio: Return per unit of downside risk	4.12	3.94	+0.18
Omega ratio: Gain probability vs. loss probability	1.64	1.52	+0.12
Calmar ratio: Return relative to maximum drawdown	2.36	2.68	-0.32
Martin ratio: Return relative to average drawdown	8.20	13.18	-4.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATTYX vs. AGDAX - Sharpe Ratio Comparison

The current ATTYX Sharpe Ratio is 2.57, which is comparable to the AGDAX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of ATTYX and AGDAX, 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

	ATTYX	AGDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.22	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.75	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.82	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.87	-0.09

Drawdowns

ATTYX vs. AGDAX - Drawdown Comparison

The maximum ATTYX drawdown since its inception was -18.60%, smaller than the maximum AGDAX drawdown of -45.59%. Use the drawdown chart below to compare losses from any high point for ATTYX and AGDAX.

Drawdown Indicators

	ATTYX	AGDAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.60%	-45.59%	+26.99%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-2.76%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-6.20%	-4.24%	-1.96%
Max Drawdown (5Y) Largest decline over 5 years	-14.55%	-16.96%	+2.41%
Max Drawdown (10Y) Largest decline over 10 years	-18.60%	-25.82%	+7.22%
Current Drawdown Current decline from peak	-0.45%	-0.29%	-0.16%
Average Drawdown Average peak-to-trough decline	-2.53%	-4.47%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.56%	+0.32%

Volatility

ATTYX vs. AGDAX - Volatility Comparison

AB Tax-Aware Fixed Income Opportunities Portfolio (ATTYX) and AB High Income Fund (AGDAX) have volatilities of 1.04% and 1.01%, 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

	ATTYX	AGDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.01%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	2.61%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	3.33%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.11%	4.93%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	5.65%	-1.10%

ATTYX vs. AGDAX - Expense Ratio Comparison

ATTYX has a 0.50% expense ratio, which is lower than AGDAX's 0.84% expense ratio.

Dividends

ATTYX vs. AGDAX - Dividend Comparison

ATTYX's dividend yield for the trailing twelve months is around 3.91%, less than AGDAX's 6.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGDAX AB High Income Fund	6.70%	6.85%	5.89%	6.53%	6.79%	4.95%	5.86%	6.27%	7.47%	5.84%	6.25%	7.42%
ATTYX AB Tax-Aware Fixed Income Opportunities Portfolio	3.91%	5.22%	3.81%	2.57%	2.34%	1.51%	3.24%	2.74%	2.37%	1.92%	2.23%	1.83%

Frequently Asked Questions

Can I hold both ATTYX and AGDAX in my portfolio?

ATTYX and AGDAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATTYX or AGDAX?

ATTYX has higher volatility (1.04%) compared to AGDAX (1.01%). In terms of maximum drawdown, ATTYX dropped -18.60% vs AGDAX's -45.59%.

Which has better risk-adjusted returns?

ATTYX currently has the higher Sharpe Ratio (2.57 vs 2.22), 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.