AUIAX vs. AGRFX

Last updated Jun 5, 2026

AUIAX (AB Equity Income Fund) and AGRFX (AB Growth Fund) are both mutual funds - AUIAX is a Large Cap Value Equities fund managed by AllianceBernstein, while AGRFX is a Large Cap Growth Equities fund managed by AllianceBernstein. Over the past 10 years, AUIAX returned 12.39%/yr vs 16.52%/yr for AGRFX. A 0.74 correlation means they provide meaningful diversification when combined. AUIAX charges 0.97%/yr vs 1.12%/yr for AGRFX.

Performance

AUIAX vs. AGRFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Equity Income Fund (AUIAX) and AB Growth Fund (AGRFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUIAX achieves a 12.48% return, which is significantly higher than AGRFX's 6.83% return. Over the past 10 years, AUIAX has underperformed AGRFX with an annualized return of 12.39%, while AGRFX has yielded a comparatively higher 16.52% annualized return.

AUIAX

• 1D: -0.30%
• 1M: 3.16%
• YTD: 12.48%
• 6M: 12.80%
• 1Y: 29.46%
• 3Y*: 20.55%
• 5Y*: 12.88%
• 10Y*: 12.39%

AGRFX

• 1D: -0.87%
• 1M: 2.61%
• YTD: 6.83%
• 6M: 5.43%
• 1Y: 16.08%
• 3Y*: 21.12%
• 5Y*: 11.58%
• 10Y*: 16.52%

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

AUIAX vs. AGRFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUIAX AB Equity Income Fund	12.48%	17.97%	17.48%	22.48%	-10.26%	25.25%	4.18%	24.59%	-6.82%	16.34%
AGRFX AB Growth Fund	6.83%	10.84%	31.50%	37.95%	-29.65%	21.40%	35.97%	31.11%	3.75%	33.88%

Correlation

The correlation between AUIAX and AGRFX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 19, 1993	0.74

The correlation between AUIAX and AGRFX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

AUIAX vs. AGRFX — Risk / Return Rank

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

AUIAX

AUIAX Risk / Return Rank: 79
AUIAX Sharpe Ratio Rank: 82
AUIAX Sortino Ratio Rank: 77
AUIAX Omega Ratio Rank: 72
AUIAX Calmar Ratio Rank: 81
AUIAX Martin Ratio Rank: 85

AGRFX

AGRFX Risk / Return Rank: 14
AGRFX Sharpe Ratio Rank: 15
AGRFX Sortino Ratio Rank: 15
AGRFX Omega Ratio Rank: 15
AGRFX Calmar Ratio Rank: 12
AGRFX Martin Ratio Rank: 14

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.

AUIAX vs. AGRFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Equity Income Fund (AUIAX) and AB Growth Fund (AGRFX). 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.

	AUIAX	AGRFX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	1.10	+1.55
Sortino ratio: Return per unit of downside risk	3.68	1.58	+2.10
Omega ratio: Gain probability vs. loss probability	1.47	1.20	+0.27
Calmar ratio: Return relative to maximum drawdown	3.63	1.08	+2.56
Martin ratio: Return relative to average drawdown	15.68	3.84	+11.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUIAX vs. AGRFX - Sharpe Ratio Comparison

The current AUIAX Sharpe Ratio is 2.65, which is higher than the AGRFX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of AUIAX and AGRFX, 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

	AUIAX	AGRFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	1.10	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.56	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.81	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.58	+0.04

Drawdowns

AUIAX vs. AGRFX - Drawdown Comparison

The maximum AUIAX drawdown since its inception was -46.97%, smaller than the maximum AGRFX drawdown of -61.88%. Use the drawdown chart below to compare losses from any high point for AUIAX and AGRFX.

Drawdown Indicators

	AUIAX	AGRFX	Difference
Max Drawdown Largest peak-to-trough decline	-46.97%	-61.88%	+14.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-15.92%	+7.78%
Max Drawdown (3Y) Largest decline over 3 years	-20.88%	-22.08%	+1.20%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-35.21%	+14.33%
Max Drawdown (10Y) Largest decline over 10 years	-35.81%	-35.21%	-0.60%
Current Drawdown Current decline from peak	-0.30%	-1.52%	+1.22%
Average Drawdown Average peak-to-trough decline	-7.94%	-15.75%	+7.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	4.45%	-2.57%

Volatility

AUIAX vs. AGRFX - Volatility Comparison

The current volatility for AB Equity Income Fund (AUIAX) is 2.63%, while AB Growth Fund (AGRFX) has a volatility of 3.53%. This indicates that AUIAX experiences smaller price fluctuations and is considered to be less risky than AGRFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUIAX	AGRFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	3.53%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	8.49%	11.93%	-3.44%
Volatility (1Y) Calculated over the trailing 1-year period	11.19%	15.61%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	20.85%	-4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	20.46%	-3.16%

AUIAX vs. AGRFX - Expense Ratio Comparison

AUIAX has a 0.97% expense ratio, which is lower than AGRFX's 1.12% expense ratio.

Dividends

AUIAX vs. AGRFX - Dividend Comparison

AUIAX's dividend yield for the trailing twelve months is around 7.13%, less than AGRFX's 15.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGRFX AB Growth Fund	15.33%	16.37%	21.03%	7.20%	1.69%	9.79%	5.79%	7.80%	16.01%	9.33%	1.03%	9.76%
AUIAX AB Equity Income Fund	7.13%	8.11%	10.53%	2.68%	7.73%	16.44%	2.65%	5.61%	13.48%	5.38%	2.85%	5.39%

Frequently Asked Questions

Can I hold both AUIAX and AGRFX in my portfolio?

AUIAX and AGRFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUIAX or AGRFX?

AGRFX has higher volatility (3.53%) compared to AUIAX (2.63%). In terms of maximum drawdown, AUIAX dropped -46.97% vs AGRFX's -61.88%.

Which has better risk-adjusted returns?

AUIAX currently has the higher Sharpe Ratio (2.65 vs 1.10), 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.