AWAYX vs. MDGCX

Last updated Jun 5, 2026

AWAYX (AB Wealth Appreciation Strategy) and MDGCX (BlackRock Advantage Global Fund, Inc.) are both Global Equities funds. Over the past 10 years, AWAYX returned 12.09%/yr vs 12.45%/yr for MDGCX. Their correlation of 0.95 suggests significant overlap in exposure. AWAYX charges 0.40%/yr vs 0.96%/yr for MDGCX.

Performance

AWAYX vs. MDGCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Wealth Appreciation Strategy (AWAYX) and BlackRock Advantage Global Fund, Inc. (MDGCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWAYX achieves a 11.56% return, which is significantly lower than MDGCX's 18.61% return. Both investments have delivered pretty close results over the past 10 years, with AWAYX having a 12.09% annualized return and MDGCX not far ahead at 12.45%.

AWAYX

• 1D: -0.68%
• 1M: 2.30%
• YTD: 11.56%
• 6M: 12.31%
• 1Y: 28.36%
• 3Y*: 21.11%
• 5Y*: 11.12%
• 10Y*: 12.09%

MDGCX

• 1D: -1.00%
• 1M: 4.79%
• YTD: 18.61%
• 6M: 19.84%
• 1Y: 38.66%
• 3Y*: 21.74%
• 5Y*: 11.44%
• 10Y*: 12.45%

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

AWAYX vs. MDGCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWAYX AB Wealth Appreciation Strategy	11.56%	21.59%	19.08%	21.06%	-18.42%	20.57%	13.04%	25.57%	-9.68%	22.02%
MDGCX BlackRock Advantage Global Fund, Inc.	18.61%	23.61%	10.87%	22.43%	-17.94%	17.52%	15.61%	25.54%	-11.73%	23.41%

Correlation

The correlation between AWAYX and MDGCX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 4, 2003	0.95

The correlation between AWAYX and MDGCX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

AWAYX vs. MDGCX — Risk / Return Rank

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

AWAYX

AWAYX Risk / Return Rank: 59
AWAYX Sharpe Ratio Rank: 57
AWAYX Sortino Ratio Rank: 54
AWAYX Omega Ratio Rank: 56
AWAYX Calmar Ratio Rank: 63
AWAYX Martin Ratio Rank: 67

MDGCX

MDGCX Risk / Return Rank: 90
MDGCX Sharpe Ratio Rank: 92
MDGCX Sortino Ratio Rank: 87
MDGCX Omega Ratio Rank: 84
MDGCX Calmar Ratio Rank: 92
MDGCX Martin Ratio Rank: 95

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.

AWAYX vs. MDGCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Wealth Appreciation Strategy (AWAYX) and BlackRock Advantage Global Fund, Inc. (MDGCX). 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.

	AWAYX	MDGCX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	3.10	-0.91
Sortino ratio: Return per unit of downside risk	3.06	4.17	-1.12
Omega ratio: Gain probability vs. loss probability	1.41	1.56	-0.16
Calmar ratio: Return relative to maximum drawdown	3.00	4.84	-1.84
Martin ratio: Return relative to average drawdown	12.80	22.38	-9.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWAYX vs. MDGCX - Sharpe Ratio Comparison

The current AWAYX Sharpe Ratio is 2.19, which is comparable to the MDGCX Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of AWAYX and MDGCX, 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

	AWAYX	MDGCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	3.10	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.71	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.72	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.66	-0.21

Drawdowns

AWAYX vs. MDGCX - Drawdown Comparison

The maximum AWAYX drawdown since its inception was -60.32%, which is greater than MDGCX's maximum drawdown of -48.25%. Use the drawdown chart below to compare losses from any high point for AWAYX and MDGCX.

Drawdown Indicators

	AWAYX	MDGCX	Difference
Max Drawdown Largest peak-to-trough decline	-60.32%	-48.25%	-12.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-8.07%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-21.46%	+3.87%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	-26.68%	+0.28%
Max Drawdown (10Y) Largest decline over 10 years	-34.32%	-34.87%	+0.55%
Current Drawdown Current decline from peak	-0.68%	-1.00%	+0.32%
Average Drawdown Average peak-to-trough decline	-9.74%	-9.93%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	1.74%	+0.52%

Volatility

AWAYX vs. MDGCX - Volatility Comparison

The current volatility for AB Wealth Appreciation Strategy (AWAYX) is 3.68%, while BlackRock Advantage Global Fund, Inc. (MDGCX) has a volatility of 3.93%. This indicates that AWAYX experiences smaller price fluctuations and is considered to be less risky than MDGCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWAYX	MDGCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.93%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	10.07%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	12.61%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	16.15%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	17.25%	-0.43%

AWAYX vs. MDGCX - Expense Ratio Comparison

AWAYX has a 0.40% expense ratio, which is lower than MDGCX's 0.96% expense ratio.

Dividends

AWAYX vs. MDGCX - Dividend Comparison

AWAYX's dividend yield for the trailing twelve months is around 6.60%, less than MDGCX's 7.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWAYX AB Wealth Appreciation Strategy	6.60%	7.36%	5.97%	2.54%	7.90%	9.02%	3.05%	4.11%	3.94%	7.73%	6.17%	1.87%
MDGCX BlackRock Advantage Global Fund, Inc.	7.51%	8.91%	7.78%	1.42%	1.75%	16.75%	3.77%	1.73%	4.06%	34.82%	0.65%	5.18%

Frequently Asked Questions

Can I hold both AWAYX and MDGCX in my portfolio?

With a correlation of 0.96, AWAYX and MDGCX 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, AWAYX or MDGCX?

MDGCX has higher volatility (3.93%) compared to AWAYX (3.68%). In terms of maximum drawdown, AWAYX dropped -60.32% vs MDGCX's -48.25%.

Which has better risk-adjusted returns?

MDGCX currently has the higher Sharpe Ratio (3.10 vs 2.19), 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.