ATWYX vs. GAOAX

Last updated Jun 5, 2026

ATWYX (AB Tax-Managed Wealth Appreciation Strategy) and GAOAX (JPMorgan Global Allocation Fund A) are both Global Equities funds. Over the past 10 years, ATWYX returned 11.97%/yr vs 6.42%/yr for GAOAX. With a 0.95 correlation, they move nearly in lockstep. ATWYX charges 0.38%/yr vs 1.04%/yr for GAOAX.

Performance

ATWYX vs. GAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Tax-Managed Wealth Appreciation Strategy (ATWYX) and JPMorgan Global Allocation Fund A (GAOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATWYX achieves a 11.47% return, which is significantly higher than GAOAX's 4.65% return. Over the past 10 years, ATWYX has outperformed GAOAX with an annualized return of 11.97%, while GAOAX has yielded a comparatively lower 6.42% annualized return.

ATWYX

• 1D: -0.69%
• 1M: 2.21%
• YTD: 11.47%
• 6M: 12.19%
• 1Y: 28.18%
• 3Y*: 20.86%
• 5Y*: 10.91%
• 10Y*: 11.97%

GAOAX

• 1D: -0.77%
• 1M: 2.25%
• YTD: 4.65%
• 6M: 5.23%
• 1Y: 14.22%
• 3Y*: 11.53%
• 5Y*: 2.81%
• 10Y*: 6.42%

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

ATWYX vs. GAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATWYX AB Tax-Managed Wealth Appreciation Strategy	11.47%	21.44%	18.72%	20.55%	-18.58%	20.45%	12.70%	25.56%	-9.76%	23.04%
GAOAX JPMorgan Global Allocation Fund A	4.65%	14.68%	7.91%	12.69%	-18.74%	3.60%	15.29%	15.95%	-6.07%	16.82%

Correlation

The correlation between ATWYX and GAOAX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.95

The correlation between ATWYX and GAOAX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

ATWYX vs. GAOAX — Risk / Return Rank

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

ATWYX

ATWYX Risk / Return Rank: 61
ATWYX Sharpe Ratio Rank: 60
ATWYX Sortino Ratio Rank: 55
ATWYX Omega Ratio Rank: 57
ATWYX Calmar Ratio Rank: 61
ATWYX Martin Ratio Rank: 70

GAOAX

GAOAX Risk / Return Rank: 27
GAOAX Sharpe Ratio Rank: 29
GAOAX Sortino Ratio Rank: 27
GAOAX Omega Ratio Rank: 29
GAOAX Calmar Ratio Rank: 21
GAOAX Martin Ratio Rank: 28

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.

ATWYX vs. GAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Tax-Managed Wealth Appreciation Strategy (ATWYX) and JPMorgan Global Allocation Fund A (GAOAX). 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.

	ATWYX	GAOAX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.52	+0.74
Sortino ratio: Return per unit of downside risk	3.11	2.14	+0.97
Omega ratio: Gain probability vs. loss probability	1.41	1.28	+0.13
Calmar ratio: Return relative to maximum drawdown	2.95	1.65	+1.30
Martin ratio: Return relative to average drawdown	13.19	6.58	+6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATWYX vs. GAOAX - Sharpe Ratio Comparison

The current ATWYX Sharpe Ratio is 2.26, which is higher than the GAOAX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ATWYX and GAOAX, 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

	ATWYX	GAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	1.52	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.25	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.59	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.60	-0.16

Drawdowns

ATWYX vs. GAOAX - Drawdown Comparison

The maximum ATWYX drawdown since its inception was -59.14%, which is greater than GAOAX's maximum drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for ATWYX and GAOAX.

Drawdown Indicators

	ATWYX	GAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.14%	-29.02%	-30.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	-8.95%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-17.58%	-10.87%	-6.71%
Max Drawdown (5Y) Largest decline over 5 years	-26.21%	-29.02%	+2.81%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-29.02%	-5.31%
Current Drawdown Current decline from peak	-0.69%	-0.77%	+0.08%
Average Drawdown Average peak-to-trough decline	-9.98%	-5.96%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.24%	-0.06%

Volatility

ATWYX vs. GAOAX - Volatility Comparison

AB Tax-Managed Wealth Appreciation Strategy (ATWYX) has a higher volatility of 3.66% compared to JPMorgan Global Allocation Fund A (GAOAX) at 2.94%. This indicates that ATWYX's price experiences larger fluctuations and is considered to be riskier than GAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATWYX	GAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	2.94%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	10.10%	7.99%	+2.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	9.73%	+3.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.01%	11.10%	+4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	10.88%	+5.87%

ATWYX vs. GAOAX - Expense Ratio Comparison

ATWYX has a 0.38% expense ratio, which is lower than GAOAX's 1.04% expense ratio.

Dividends

ATWYX vs. GAOAX - Dividend Comparison

ATWYX's dividend yield for the trailing twelve months is around 3.96%, less than GAOAX's 9.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATWYX AB Tax-Managed Wealth Appreciation Strategy	3.96%	4.41%	2.49%	1.84%	5.88%	5.81%	1.23%	4.93%	5.57%	12.93%	3.16%	7.84%
GAOAX JPMorgan Global Allocation Fund A	9.22%	10.15%	2.34%	0.00%	4.62%	4.61%	1.54%	2.43%	2.52%	2.95%	2.59%	0.96%

Frequently Asked Questions

Can I hold both ATWYX and GAOAX in my portfolio?

With a correlation of 0.95, ATWYX and GAOAX 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, ATWYX or GAOAX?

ATWYX has higher volatility (3.66%) compared to GAOAX (2.94%). In terms of maximum drawdown, ATWYX dropped -59.14% vs GAOAX's -29.02%.

Which has better risk-adjusted returns?

ATWYX currently has the higher Sharpe Ratio (2.26 vs 1.52), 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.