FDUAX vs. ABTYX

Last updated Aug 1, 2026

FDUAX (First Eagle Short Duration High Yield Municipal Fund Class A) and ABTYX (AB High Income Municipal Portfolio) are both High Yield Muni funds. Over the past year, FDUAX returned 3.87% vs 6.73% for ABTYX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FDUAX charges 0.87%/yr vs 0.53%/yr for ABTYX.

Performance

FDUAX vs. ABTYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and AB High Income Municipal Portfolio (ABTYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDUAX achieves a 1.66% return, which is significantly higher than ABTYX's 0.73% return.

FDUAX

• 1D: -0.10%
• 1M: -1.01%
• 6M: 0.81%
• YTD: 1.66%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.74%

ABTYX

• 1D: -0.49%
• 1M: -2.60%
• 6M: 0.12%
• YTD: 0.73%
• 1Y: 6.73%
• 3Y*: 4.82%
• 5Y*: -0.01%
• 10Y*: 2.54%
• ALL TIME*: 4.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ABTYX AB High Income Municipal Portfolio	$0.00	$0.00	$0.00
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	$0.00	$0.00	$0.00

FDUAX vs. ABTYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	1.66%	1.20%	6.66%
ABTYX AB High Income Municipal Portfolio	0.73%	5.88%	4.84%

Correlation

The correlation between FDUAX and ABTYX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024	0.73

The correlation between FDUAX and ABTYX shifts across timeframes, from 0.62 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDUAX vs. ABTYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDUAX

FDUAX Risk / Return Rank: 73
FDUAX Sharpe Ratio Rank: 67
FDUAX Sortino Ratio Rank: 77
FDUAX Omega Ratio Rank: 85
FDUAX Calmar Ratio Rank: 75
FDUAX Martin Ratio Rank: 59

ABTYX

ABTYX Risk / Return Rank: 74
ABTYX Sharpe Ratio Rank: 84
ABTYX Sortino Ratio Rank: 85
ABTYX Omega Ratio Rank: 87
ABTYX Calmar Ratio Rank: 63
ABTYX Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDUAX vs. ABTYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and AB High Income Municipal Portfolio (ABTYX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FDUAX	ABTYX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.04	-0.40
Sortino ratio: Return per unit of downside risk	2.70	3.04	-0.34
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	2.52	2.11	+0.42
Martin ratio: Return relative to average drawdown	7.94	6.98	+0.96

FDUAX vs. ABTYX - Sharpe Ratio Comparison

The current FDUAX Sharpe Ratio is 1.64, which is comparable to the ABTYX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of FDUAX and ABTYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDUAX vs. ABTYX - Drawdown Comparison

The maximum FDUAX drawdown since its inception was -3.96%, smaller than the maximum ABTYX drawdown of -21.44%. Use the drawdown chart below to compare losses from any high point for FDUAX and ABTYX.

Drawdown Indicators

	FDUAX	ABTYX	Difference
Max Drawdown Largest peak-to-trough decline	-3.96%	-21.44%	+17.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.71%	-3.82%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.44%	—
Current Drawdown Current decline from peak	-1.11%	-2.69%	+1.58%
Average Drawdown Average peak-to-trough decline	-0.69%	-3.93%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	1.15%	-0.61%

Volatility

FDUAX vs. ABTYX - Volatility Comparison

The current volatility for First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) is 0.58%, while AB High Income Municipal Portfolio (ABTYX) has a volatility of 1.19%. This indicates that FDUAX experiences smaller price fluctuations and is considered to be less risky than ABTYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDUAX	ABTYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	1.19%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	1.87%	3.12%	-1.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.66%	3.94%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.20%	6.09%	-2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.20%	5.63%	-2.43%

FDUAX vs. ABTYX - Expense Ratio Comparison

FDUAX has a 0.87% expense ratio, which is higher than ABTYX's 0.53% expense ratio.

Dividends

FDUAX vs. ABTYX - Dividend Comparison

FDUAX's dividend yield for the trailing twelve months is around 4.86%, more than ABTYX's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABTYX AB High Income Municipal Portfolio	4.36%	5.93%	4.15%	3.10%	3.91%	2.59%	3.70%	4.27%	4.60%	4.20%	4.48%	4.69%
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	4.86%	4.83%	3.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDUAX and ABTYX in my portfolio?

FDUAX and ABTYX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDUAX or ABTYX?

ABTYX has higher volatility (1.19%) compared to FDUAX (0.58%). In terms of maximum drawdown, FDUAX dropped -3.96% vs ABTYX's -21.44%.

Which has better risk-adjusted returns?

ABTYX currently has the higher Sharpe Ratio (2.04 vs 1.64), 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.