CAF vs. ACEYX
Compare and contrast key facts about Morgan Stanley China A Share Fund (CAF) and AB All China Equity Portfolio (ACEYX).
CAF is an actively managed fund by Morgan Stanley. It was launched on Jul 6, 2006. ACEYX is managed by AllianceBernstein. It was launched on Jul 24, 2018.
Performance
CAF vs. ACEYX - Performance Comparison
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CAF vs. ACEYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 0.81% | 41.51% | 0.34% | -9.39% | -30.41% | -1.77% | 12.74% | 23.50% | -11.18% |
ACEYX AB All China Equity Portfolio | -6.20% | 33.91% | 17.44% | -10.96% | -26.65% | -14.65% | 25.38% | 37.67% | -21.60% |
Returns By Period
In the year-to-date period, CAF achieves a 0.81% return, which is significantly higher than ACEYX's -6.20% return.
CAF
- 1D
- 3.67%
- 1M
- -4.11%
- YTD
- 0.81%
- 6M
- 6.75%
- 1Y
- 35.89%
- 3Y*
- 8.65%
- 5Y*
- -3.03%
- 10Y*
- 4.78%
ACEYX
- 1D
- 0.63%
- 1M
- -9.15%
- YTD
- -6.20%
- 6M
- -10.46%
- 1Y
- 12.86%
- 3Y*
- 7.76%
- 5Y*
- -3.85%
- 10Y*
- —
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CAF vs. ACEYX - Expense Ratio Comparison
CAF has a 1.67% expense ratio, which is higher than ACEYX's 1.25% expense ratio.
Return for Risk
CAF vs. ACEYX — Risk / Return Rank
CAF
ACEYX
CAF vs. ACEYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley China A Share Fund (CAF) and AB All China Equity Portfolio (ACEYX). 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.
| CAF | ACEYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.83 | 0.57 | +1.25 |
Sortino ratioReturn per unit of downside risk | 2.50 | 0.87 | +1.63 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.12 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 3.02 | 0.66 | +2.35 |
Martin ratioReturn relative to average drawdown | 10.31 | 2.04 | +8.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CAF | ACEYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 0.57 | +1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | -0.17 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.06 | +0.20 |
Correlation
The correlation between CAF and ACEYX is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CAF vs. ACEYX - Dividend Comparison
CAF's dividend yield for the trailing twelve months is around 1.50%, less than ACEYX's 5.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 1.50% | 1.51% | 2.63% | 0.96% | 0.02% | 6.57% | 10.40% | 3.78% | 9.48% | 5.20% | 4.69% | 67.03% |
ACEYX AB All China Equity Portfolio | 5.29% | 4.97% | 3.75% | 2.17% | 1.39% | 1.81% | 0.43% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CAF vs. ACEYX - Drawdown Comparison
The maximum CAF drawdown since its inception was -65.88%, which is greater than ACEYX's maximum drawdown of -57.58%. Use the drawdown chart below to compare losses from any high point for CAF and ACEYX.
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Drawdown Indicators
| CAF | ACEYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.88% | -57.58% | -8.30% |
Max Drawdown (1Y)Largest decline over 1 year | -11.45% | -14.86% | +3.41% |
Max Drawdown (5Y)Largest decline over 5 years | -49.01% | -51.51% | +2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -49.01% | — | — |
Current DrawdownCurrent decline from peak | -17.42% | -30.42% | +13.00% |
Average DrawdownAverage peak-to-trough decline | -26.05% | -27.81% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 5.01% | -1.52% |
Volatility
CAF vs. ACEYX - Volatility Comparison
Morgan Stanley China A Share Fund (CAF) has a higher volatility of 6.54% compared to AB All China Equity Portfolio (ACEYX) at 6.13%. This indicates that CAF's price experiences larger fluctuations and is considered to be riskier than ACEYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAF | ACEYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 6.13% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 13.91% | 13.51% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 20.99% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.20% | 23.22% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 23.65% | -1.75% |