NALFX vs. ATWYX

Last updated Jun 4, 2026

NALFX (New Alternatives Fund) and ATWYX (AB Tax-Managed Wealth Appreciation Strategy) are both Global Equities funds. Over the past 10 years, NALFX returned 10.92%/yr vs 12.05%/yr for ATWYX. A 0.72 correlation means they provide meaningful diversification when combined. NALFX charges 0.89%/yr vs 0.38%/yr for ATWYX.

Performance

NALFX vs. ATWYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in New Alternatives Fund (NALFX) and AB Tax-Managed Wealth Appreciation Strategy (ATWYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NALFX achieves a 19.18% return, which is significantly higher than ATWYX's 12.24% return. Over the past 10 years, NALFX has underperformed ATWYX with an annualized return of 10.92%, while ATWYX has yielded a comparatively higher 12.05% annualized return.

NALFX

• 1D: 1.25%
• 1M: 3.67%
• YTD: 19.18%
• 6M: 20.44%
• 1Y: 32.39%
• 3Y*: 10.98%
• 5Y*: 3.35%
• 10Y*: 10.92%

ATWYX

• 1D: 0.28%
• 1M: 3.96%
• YTD: 12.24%
• 6M: 13.23%
• 1Y: 29.52%
• 3Y*: 21.14%
• 5Y*: 11.26%
• 10Y*: 12.05%

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

NALFX vs. ATWYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NALFX New Alternatives Fund	19.18%	28.13%	-6.03%	-2.49%	-15.87%	-4.78%	61.74%	36.98%	-6.91%	21.24%
ATWYX AB Tax-Managed Wealth Appreciation Strategy	12.24%	21.44%	18.72%	20.55%	-18.58%	20.45%	12.70%	25.56%	-9.76%	23.04%

Correlation

The correlation between NALFX and ATWYX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Sep 4, 2003	0.72

The correlation between NALFX and ATWYX shifts across timeframes, from 0.62 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NALFX vs. ATWYX — Risk / Return Rank

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

NALFX

NALFX Risk / Return Rank: 64
NALFX Sharpe Ratio Rank: 60
NALFX Sortino Ratio Rank: 52
NALFX Omega Ratio Rank: 50
NALFX Calmar Ratio Rank: 89
NALFX Martin Ratio Rank: 69

ATWYX

ATWYX Risk / Return Rank: 65
ATWYX Sharpe Ratio Rank: 66
ATWYX Sortino Ratio Rank: 60
ATWYX Omega Ratio Rank: 61
ATWYX Calmar Ratio Rank: 65
ATWYX Martin Ratio Rank: 73

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.

NALFX vs. ATWYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for New Alternatives Fund (NALFX) and AB Tax-Managed Wealth Appreciation Strategy (ATWYX). 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.

	NALFX	ATWYX	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.38	-0.10
Sortino ratio Return per unit of downside risk	3.04	3.26	-0.22
Omega ratio Gain probability vs. loss probability	1.39	1.44	-0.04
Calmar ratio Return relative to maximum drawdown	4.47	3.10	+1.37
Martin ratio Return relative to average drawdown	13.35	13.89	-0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NALFX vs. ATWYX - Sharpe Ratio Comparison

The current NALFX Sharpe Ratio is 2.28, which is comparable to the ATWYX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of NALFX and ATWYX, 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

	NALFX	ATWYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.38	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.71	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.72	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.45	-0.02

Drawdowns

NALFX vs. ATWYX - Drawdown Comparison

The maximum NALFX drawdown since its inception was -59.67%, roughly equal to the maximum ATWYX drawdown of -59.14%. Use the drawdown chart below to compare losses from any high point for NALFX and ATWYX.

Drawdown Indicators

	NALFX	ATWYX	Difference
Max Drawdown Largest peak-to-trough decline	-59.67%	-59.14%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-9.75%	+2.22%
Max Drawdown (3Y) Largest decline over 3 years	-24.52%	-17.58%	-6.94%
Max Drawdown (5Y) Largest decline over 5 years	-38.03%	-26.21%	-11.82%
Max Drawdown (10Y) Largest decline over 10 years	-42.35%	-34.33%	-8.02%
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-14.84%	-9.99%	-4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.18%	+0.34%

Volatility

NALFX vs. ATWYX - Volatility Comparison

New Alternatives Fund (NALFX) has a higher volatility of 5.44% compared to AB Tax-Managed Wealth Appreciation Strategy (ATWYX) at 3.60%. This indicates that NALFX's price experiences larger fluctuations and is considered to be riskier than ATWYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NALFX	ATWYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	3.60%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	11.93%	10.09%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	12.73%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.82%	16.01%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	16.76%	+1.27%

NALFX vs. ATWYX - Expense Ratio Comparison

NALFX has a 0.89% expense ratio, which is higher than ATWYX's 0.38% expense ratio.

Dividends

NALFX vs. ATWYX - Dividend Comparison

NALFX's dividend yield for the trailing twelve months is around 0.98%, less than ATWYX's 3.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATWYX AB Tax-Managed Wealth Appreciation Strategy	3.93%	4.41%	2.49%	1.84%	5.88%	5.81%	1.23%	4.93%	5.57%	12.93%	3.16%	7.84%
NALFX New Alternatives Fund	0.98%	1.17%	2.04%	4.47%	4.63%	5.14%	4.93%	5.55%	6.62%	4.16%	3.71%	1.71%

Frequently Asked Questions

Can I hold both NALFX and ATWYX in my portfolio?

NALFX and ATWYX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NALFX or ATWYX?

NALFX has higher volatility (5.44%) compared to ATWYX (3.60%). In terms of maximum drawdown, NALFX dropped -59.67% vs ATWYX's -59.14%.

Which has better risk-adjusted returns?

ATWYX currently has the higher Sharpe Ratio (2.38 vs 2.28), 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.