ATTYX vs. ATOIX

Last updated Aug 4, 2026

ATTYX (AB Tax-Aware Fixed Income Opportunities Portfolio) and ATOIX (abrdn Ultra Short Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, ATTYX returned 2.40%/yr vs 1.82%/yr for ATOIX. Their 0.26 correlation means their historical movements had little consistent relationship. ATTYX charges 0.50%/yr vs 0.44%/yr for ATOIX.

Performance

ATTYX vs. ATOIX - Performance Comparison

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

Returns By Period

In the year-to-date period, ATTYX achieves a 0.38% return, which is significantly lower than ATOIX's 1.46% return. Over the past 10 years, ATTYX has outperformed ATOIX with an annualized return of 2.40%, while ATOIX has yielded a comparatively lower 1.82% annualized return.

ATTYX

• 1D: -0.19%
• 1M: -1.96%
• 6M: -0.43%
• YTD: 0.38%
• 1Y: 4.95%
• 3Y*: 4.44%
• 5Y*: 1.03%
• 10Y*: 2.40%
• ALL TIME*: 3.08%

ATOIX

• 1D: 0.00%
• 1M: 0.22%
• 6M: 1.20%
• YTD: 1.46%
• 1Y: 2.99%
• 3Y*: 3.02%
• 5Y*: 2.39%
• 10Y*: 1.82%
• ALL TIME*: 1.89%

*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)
ATOIX abrdn Ultra Short Municipal Income Fund	$0.00	$0.00	$0.00
ATTYX AB Tax-Aware Fixed Income Opportunities Portfolio	$0.00	$0.00	$0.00

ATTYX vs. ATOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATTYX AB Tax-Aware Fixed Income Opportunities Portfolio	0.38%	6.04%	3.78%	5.54%	-9.61%	4.86%	4.77%	8.66%	0.02%	5.07%
ATOIX abrdn Ultra Short Municipal Income Fund	1.46%	3.33%	3.14%	3.27%	0.87%	-0.04%	0.88%	1.40%	1.54%	2.24%

Correlation

The correlation between ATTYX and ATOIX is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (5Y) Shows whether the relationship held over a longer period.	0.27
Correlation (10Y) Provides a long-term view across more market conditions.	0.26
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013	0.26

Return for Risk

ATTYX vs. ATOIX — Risk / Return Rank

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

ATTYX

ATTYX Risk / Return Rank: 66
ATTYX Sharpe Ratio Rank: 80
ATTYX Sortino Ratio Rank: 83
ATTYX Omega Ratio Rank: 89
ATTYX Calmar Ratio Rank: 40
ATTYX Martin Ratio Rank: 38

ATOIX

ATOIX Risk / Return Rank: 100
ATOIX Sharpe Ratio Rank: 99
ATOIX Sortino Ratio Rank: 100
ATOIX Omega Ratio Rank: 100
ATOIX Calmar Ratio Rank: 100
ATOIX Martin Ratio Rank: 100

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.

ATTYX vs. ATOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Fixed Income Opportunities Portfolio (ATTYX) and abrdn Ultra Short Municipal Income Fund (ATOIX). 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.

	ATTYX	ATOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	3.49	-1.55
Sortino ratio: Return per unit of downside risk	2.94	17.14	-14.20
Omega ratio: Gain probability vs. loss probability	1.46	10.88	-9.42
Calmar ratio: Return relative to maximum drawdown	1.77	30.15	-28.39
Martin ratio: Return relative to average drawdown	5.87	88.71	-82.84

ATTYX vs. ATOIX - Sharpe Ratio Comparison

The current ATTYX Sharpe Ratio is 1.94, which is lower than the ATOIX Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of ATTYX and ATOIX, 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

ATTYX vs. ATOIX - Drawdown Comparison

The maximum ATTYX drawdown since its inception was -18.60%, which is greater than ATOIX's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for ATTYX and ATOIX.

Drawdown Indicators

	ATTYX	ATOIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.60%	-1.46%	-17.14%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-0.10%	-2.96%
Max Drawdown (3Y) Largest decline over 3 years	-5.47%	-0.10%	-5.37%
Max Drawdown (5Y) Largest decline over 5 years	-14.47%	-0.37%	-14.10%
Max Drawdown (10Y) Largest decline over 10 years	-18.60%	-0.43%	-18.17%
Current Drawdown Current decline from peak	-2.06%	0.00%	-2.06%
Average Drawdown Average peak-to-trough decline	-2.51%	-0.06%	-2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.03%	+0.89%

Volatility

ATTYX vs. ATOIX - Volatility Comparison

AB Tax-Aware Fixed Income Opportunities Portfolio (ATTYX) has a higher volatility of 0.86% compared to abrdn Ultra Short Municipal Income Fund (ATOIX) at 0.22%. This indicates that ATTYX's price experiences larger fluctuations and is considered to be riskier than ATOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATTYX	ATOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.22%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	0.53%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	2.83%	0.89%	+1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.13%	0.84%	+3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	0.79%	+3.76%

ATTYX vs. ATOIX - Expense Ratio Comparison

ATTYX has a 0.50% expense ratio, which is higher than ATOIX's 0.44% expense ratio.

Dividends

ATTYX vs. ATOIX - Dividend Comparison

ATTYX's dividend yield for the trailing twelve months is around 3.62%, more than ATOIX's 2.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATOIX abrdn Ultra Short Municipal Income Fund	2.94%	3.27%	3.09%	3.02%	1.07%	0.06%	0.88%	1.39%	1.42%	2.20%	0.61%	0.52%
ATTYX AB Tax-Aware Fixed Income Opportunities Portfolio	3.62%	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 ATOIX in my portfolio?

ATTYX and ATOIX have a correlation of 0.23, 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 ATOIX?

ATTYX has higher volatility (0.86%) compared to ATOIX (0.22%). In terms of maximum drawdown, ATTYX dropped -18.60% vs ATOIX's -1.46%.

Which has better risk-adjusted returns?

ATOIX currently has the higher Sharpe Ratio (3.49 vs 1.94), 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.