AWPAX vs. ALTFX

Last updated Jun 4, 2026

AWPAX (AB Sustainable International Thematic Fund) and ALTFX (AB Sustainable Global Thematic Fund) are both mutual funds - AWPAX is a Foreign Large Cap Equities fund managed by AllianceBernstein, while ALTFX is a Global Equities fund managed by AllianceBernstein. Over the past 10 years, AWPAX returned 6.54%/yr vs 11.46%/yr for ALTFX. A 0.71 correlation means they provide meaningful diversification when combined. AWPAX charges 1.03%/yr vs 1.02%/yr for ALTFX.

Performance

AWPAX vs. ALTFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Sustainable International Thematic Fund (AWPAX) and AB Sustainable Global Thematic Fund (ALTFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWPAX achieves a 7.33% return, which is significantly higher than ALTFX's 5.73% return. Over the past 10 years, AWPAX has underperformed ALTFX with an annualized return of 6.54%, while ALTFX has yielded a comparatively higher 11.46% annualized return.

AWPAX

• 1D: 0.70%
• 1M: 4.79%
• YTD: 7.33%
• 6M: 8.55%
• 1Y: 10.85%
• 3Y*: 8.46%
• 5Y*: 1.12%
• 10Y*: 6.54%

ALTFX

• 1D: 0.54%
• 1M: 5.67%
• YTD: 5.73%
• 6M: 4.98%
• 1Y: 9.72%
• 3Y*: 8.78%
• 5Y*: 2.92%
• 10Y*: 11.46%

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

AWPAX vs. ALTFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWPAX AB Sustainable International Thematic Fund	7.33%	13.57%	-0.32%	13.09%	-26.80%	9.20%	29.55%	26.88%	-17.50%	34.46%
ALTFX AB Sustainable Global Thematic Fund	5.73%	6.22%	5.94%	15.97%	-27.19%	22.64%	39.40%	33.60%	-9.86%	37.16%

Correlation

The correlation between AWPAX and ALTFX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 17, 1996	0.71

The correlation between AWPAX and ALTFX shifts across timeframes, from 0.71 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AWPAX vs. ALTFX — Risk / Return Rank

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

AWPAX

AWPAX Risk / Return Rank: 8
AWPAX Sharpe Ratio Rank: 8
AWPAX Sortino Ratio Rank: 8
AWPAX Omega Ratio Rank: 8
AWPAX Calmar Ratio Rank: 8
AWPAX Martin Ratio Rank: 10

ALTFX

ALTFX Risk / Return Rank: 8
ALTFX Sharpe Ratio Rank: 9
ALTFX Sortino Ratio Rank: 9
ALTFX Omega Ratio Rank: 9
ALTFX Calmar Ratio Rank: 6
ALTFX Martin Ratio Rank: 7

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.

AWPAX vs. ALTFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Sustainable International Thematic Fund (AWPAX) and AB Sustainable Global Thematic Fund (ALTFX). 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.

	AWPAX	ALTFX	Difference
Sharpe ratio: Return per unit of total volatility	0.65	0.71	-0.06
Sortino ratio: Return per unit of downside risk	1.03	1.08	-0.05
Omega ratio: Gain probability vs. loss probability	1.13	1.14	-0.01
Calmar ratio: Return relative to maximum drawdown	0.78	0.65	+0.13
Martin ratio: Return relative to average drawdown	2.90	1.94	+0.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWPAX vs. ALTFX - Sharpe Ratio Comparison

The current AWPAX Sharpe Ratio is 0.65, which is comparable to the ALTFX Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of AWPAX and ALTFX, 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

	AWPAX	ALTFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	0.71	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.16	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.64	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.28	+0.06

Drawdowns

AWPAX vs. ALTFX - Drawdown Comparison

The maximum AWPAX drawdown since its inception was -63.00%, smaller than the maximum ALTFX drawdown of -80.01%. Use the drawdown chart below to compare losses from any high point for AWPAX and ALTFX.

Drawdown Indicators

	AWPAX	ALTFX	Difference
Max Drawdown Largest peak-to-trough decline	-63.00%	-80.01%	+17.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.44%	-15.81%	+2.37%
Max Drawdown (3Y) Largest decline over 3 years	-19.47%	-22.92%	+3.45%
Max Drawdown (5Y) Largest decline over 5 years	-38.13%	-35.87%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	-38.13%	-35.87%	-2.26%
Current Drawdown Current decline from peak	-2.01%	-0.99%	-1.02%
Average Drawdown Average peak-to-trough decline	-18.78%	-36.95%	+18.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	5.28%	-1.68%

Volatility

AWPAX vs. ALTFX - Volatility Comparison

AB Sustainable International Thematic Fund (AWPAX) has a higher volatility of 5.75% compared to AB Sustainable Global Thematic Fund (ALTFX) at 4.89%. This indicates that AWPAX's price experiences larger fluctuations and is considered to be riskier than ALTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWPAX	ALTFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	4.89%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	13.97%	11.56%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.22%	14.48%	+1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	18.19%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	18.05%	-1.22%

AWPAX vs. ALTFX - Expense Ratio Comparison

AWPAX has a 1.03% expense ratio, which is higher than ALTFX's 1.02% expense ratio.

Dividends

AWPAX vs. ALTFX - Dividend Comparison

AWPAX has not paid dividends to shareholders, while ALTFX's dividend yield for the trailing twelve months is around 12.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ALTFX AB Sustainable Global Thematic Fund	12.80%	13.53%	8.18%	0.03%	2.61%	9.99%	7.23%	6.01%	8.36%	0.00%	4.05%
AWPAX AB Sustainable International Thematic Fund	0.00%	0.00%	0.00%	0.00%	0.52%	7.00%	1.67%	1.11%	14.44%	0.00%	0.77%

Frequently Asked Questions

Can I hold both AWPAX and ALTFX in my portfolio?

With a correlation of 0.91, AWPAX and ALTFX 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, AWPAX or ALTFX?

AWPAX has higher volatility (5.75%) compared to ALTFX (4.89%). In terms of maximum drawdown, AWPAX dropped -63.00% vs ALTFX's -80.01%.

Which has better risk-adjusted returns?

ALTFX currently has the higher Sharpe Ratio (0.71 vs 0.65), 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.