TPLGX vs. APGAX
TPLGX (T. Rowe Price Institutional Large Cap Core Growth Fund) and APGAX (AB Large Cap Growth Fund Class A) are both Large Cap Growth Equities funds. Over the past 10 years, TPLGX returned 15.32%/yr vs 15.32%/yr for APGAX. Their 0.95 correlation means they have historically moved very closely together. TPLGX charges 0.57%/yr vs 0.84%/yr for APGAX.
Performance
TPLGX vs. APGAX - Performance Comparison
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Returns By Period
In the year-to-date period, TPLGX achieves a -3.11% return, which is significantly lower than APGAX's 0.70% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: TPLGX at 15.32% and APGAX at 15.32%.
TPLGX
- 1D
- 2.27%
- 1M
- -2.38%
- 6M
- -1.19%
- YTD
- -3.11%
- 1Y
- 5.16%
- 3Y*
- 18.58%
- 5Y*
- 7.84%
- 10Y*
- 15.32%
- ALL TIME*
- 11.63%
APGAX
- 1D
- 1.69%
- 1M
- -2.13%
- 6M
- 1.48%
- YTD
- 0.70%
- 1Y
- 6.41%
- 3Y*
- 15.18%
- 5Y*
- 7.84%
- 10Y*
- 15.32%
- ALL TIME*
- 11.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TPLGX vs. APGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund | -3.11% | 18.66% | 35.22% | 49.63% | -38.49% | 17.84% | 34.70% | 30.15% | 2.18% | 36.49% |
APGAX AB Large Cap Growth Fund Class A | 0.70% | 12.96% | 25.09% | 34.66% | -28.96% | 28.60% | 34.05% | 33.77% | 1.97% | 31.36% |
Correlation
The correlation between TPLGX and APGAX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2003 | 0.95 |
The correlation between TPLGX and APGAX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
TPLGX vs. APGAX — Risk / Return Rank
TPLGX
APGAX
TPLGX vs. APGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) and AB Large Cap Growth Fund Class A (APGAX). 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.
| TPLGX | APGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.06 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 0.29 | -0.07 |
| Martin ratioReturn relative to average drawdown | 0.64 | 1.00 | -0.36 |
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Drawdowns
TPLGX vs. APGAX - Drawdown Comparison
The maximum TPLGX drawdown since its inception was -54.57%, smaller than the maximum APGAX drawdown of -67.19%. Use the drawdown chart below to compare losses from any high point for TPLGX and APGAX.
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Drawdown Indicators
| TPLGX | APGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.57% | -67.19% | +12.62% |
Max Drawdown (1Y)Largest decline over 1 year | -17.15% | -15.33% | -1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -28.23% | -21.63% | -6.60% |
Max Drawdown (5Y)Largest decline over 5 years | -43.45% | -34.04% | -9.41% |
Max Drawdown (10Y)Largest decline over 10 years | -43.45% | -34.04% | -9.41% |
Current DrawdownCurrent decline from peak | -8.78% | -5.23% | -3.55% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -19.34% | +10.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.73% | 4.42% | +1.31% |
Volatility
TPLGX vs. APGAX - Volatility Comparison
T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) has a higher volatility of 5.88% compared to AB Large Cap Growth Fund Class A (APGAX) at 4.39%. This indicates that TPLGX's price experiences larger fluctuations and is considered to be riskier than APGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPLGX | APGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 4.39% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 14.22% | 12.32% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.59% | 15.50% | +2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.54% | 20.34% | +4.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.99% | 19.73% | +3.26% |
TPLGX vs. APGAX - Expense Ratio Comparison
TPLGX has a 0.57% expense ratio, which is lower than APGAX's 0.84% expense ratio.
Dividends
TPLGX vs. APGAX - Dividend Comparison
TPLGX's dividend yield for the trailing twelve months is around 20.95%, more than APGAX's 11.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APGAX AB Large Cap Growth Fund Class A | 11.23% | 11.31% | 7.44% | 1.75% | 0.97% | 8.04% | 2.87% | 3.66% | 9.96% | 4.09% | 2.74% | 9.23% |
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund | 20.95% | 20.30% | 12.87% | 3.70% | 4.39% | 8.81% | 0.59% | 0.60% | 1.65% | 1.39% | 0.25% | 0.44% |
Frequently Asked Questions
With a correlation of 0.92, TPLGX and APGAX 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.
TPLGX has higher volatility (5.88%) compared to APGAX (4.39%). In terms of maximum drawdown, TPLGX dropped -54.57% vs APGAX's -67.19%.
APGAX currently has the higher Sharpe Ratio (0.29 vs 0.21), 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.
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