AB GLOBAL RISK ALLOCATION FUND, INC.
Fund
CABIX
Price as of:
$15.41
- $0.03
- 0.19%
Primary Theme
fund company
Name
As of 09/27/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-1.3%
1 yr return
10.4%
3 Yr Avg Return
5.9%
5 Yr Avg Return
5.4%
Net Assets
$186 M
Holdings in Top 10
66.8%
52 WEEK LOW AND HIGH
$15.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.06%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 7.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/27/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CABIX - Profile
Distributions
- YTD Total Return -1.3%
- 3 Yr Annualized Total Return 5.9%
- 5 Yr Annualized Total Return 5.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.77%
- Dividend Yield 7.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAB GLOBAL RISK ALLOCATION FUND, INC.
-
Fund Family NameALLIANCEBE
-
Inception DateMar 07, 2005
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerLeon Zhu
Fund Description
The Fund invests dynamically in a number of global asset classes, including equity/credit, fixed-income, and inflation-sensitive instruments. In making decisions on the allocation of assets among asset classes, the Adviser will use a risk-balanced approach. This strategy attempts to provide investors with favorable long-term total return while minimizing exposure to material downside (“tail”) events. To execute this strategy, the Adviser assesses the volatility, tail loss and return potential of each asset. Fund assets are then allocated among asset classes so that no asset class dominates the expected tail loss of the Fund. This will generally result in the Fund having greater exposures to lower risk asset classes (such as fixed-income) than to higher risk asset classes. The Adviser will make frequent adjustments to the Fund’s asset class exposures based on its determinations of volatility, tail loss and return potential.
The asset classes in which the Fund may invest include:
| • | equity/credit—equity securities of all types and corporate fixed-income securities (regardless of credit quality, but subject to the limitations on high-yield securities set forth below); |
| • | fixed-income—fixed-income securities of the U.S. and foreign governments and their agencies and instrumentalities; and |
| • | inflation-sensitive—global inflation-indexed securities (including Treasury Inflation Protected Securities) and commodity-related instruments and derivatives (including commodity futures). |
The Fund’s investments within each asset class are generally index-based—typically, portfolios of individual securities, derivatives or exchange-traded funds (“ETFs”) intended to track the performance of segments within each particular asset class. The inflation-sensitive asset class consists of instruments, the prices of which are affected directly or indirectly by the level and change in the rate of inflation, such as commodity derivatives.
Equity securities will comprise no more than 75% of the Fund’s investments. The Fund may invest in fixed-income securities with a range of maturities from short- to long-term. The Fund may invest up to 20% of its assets in high-yield securities (securities rated below BBB‑ by S&P Global Ratings (“S&P”), Moody’s Investors Service, Inc. (“Moody’s”), or Fitch Ratings (“Fitch”), or the equivalent by any other nationally recognized statistical rating organization (“NRSRO”), which are commonly known as “junk bonds”). As an operating policy, the Fund will invest no more than 5% of its assets in securities rated CCC‑ or below.
The Fund’s investments will generally be global in nature, and will generally include investments in both developed and emerging markets. The Fund typically invests at least 40% of its assets in securities of non‑U.S. companies and/or foreign countries and their agencies and instrumentalities unless conditions are not deemed favorable by the Adviser, in which case the Fund will invest at least 30% of its assets in such foreign securities.
Derivatives, particularly futures contracts and swaps, often provide more efficient and economical exposure to market segments than direct investments, and the Fund’s exposure to certain types of assets may at times be achieved partially or substantially through investment in derivatives. Derivatives transactions may also be a quicker and more efficient way to alter the Fund’s exposure than buying and selling direct investments. In determining when and to what extent to enter into derivatives transactions, the Adviser considers factors such as the risk and returns of these investments relative to direct investments and the cost of such transactions.
Because derivatives transactions frequently require cash outlays that are only a small portion of the amount of exposure obtained through the derivative, a portion of the Fund’s assets may be held in cash or invested in cash equivalents to cover the Fund’s
derivatives obligations, such as short-term U.S. Government and agency securities, repurchase agreements and money market funds. At times, a combination of direct securities investments and derivatives will be used to gain asset class exposure so that the Fund’s aggregate exposure will substantially exceed its net assets (i.e., so that the Fund is effectively leveraged). In addition, the Fund may at times invest in shares of ETFs in lieu of making direct investments in securities.
While the Fund may seek to gain exposure to physical commodities traded in the commodities markets through investments in a variety of derivative instruments, the Adviser expects that the Fund will seek to gain exposure to commodities and commodities-related instruments and derivatives primarily through investments in AllianceBernstein Global Risk Allocation (Cayman) Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by the Adviser and has the same investment objective and substantially similar investment policies and restrictions as the Fund except that the Subsidiary, unlike the Fund, may invest, without limitation, in commodities and commodities-related instruments. The Fund is subject to the risks associated with the commodities, derivatives and other instruments in which the Subsidiary invests, to the extent of its investment in the Subsidiary. The Fund limits its investment in the Subsidiary to no more than 25% of its total assets. Investment in the Subsidiary is expected to provide the Fund with commodity exposure within the limitations of federal tax requirements that apply to the Fund.
Currency exchange rate fluctuations can have a dramatic impact on returns. The Adviser may seek to hedge all or a portion of the Fund’s currency exposure resulting from Fund investments or decide not to hedge this exposure. The Adviser may also cause the Fund to take on currency exposure for purposes other than hedging, relying on its fundamental and quantitative research with the goal of increasing returns or managing risk. Currency-related investments may include currencies acquired on a spot (i.e., cash) basis and currency-related derivatives, including forward currency exchange contracts and options on currencies.
CABIX - Performance
Return Ranking - Trailing
| Period | CABIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.3% | -12.5% | 37.5% | 79.08% |
| 1 Yr | 10.4% | -18.5% | 25.1% | 23.85% |
| 3 Yr | 5.9%* | -17.6% | 13.4% | 24.36% |
| 5 Yr | 5.4%* | -12.8% | 9.1% | 17.59% |
| 10 Yr | 5.2%* | -6.4% | 3.9% | 24.64% |
* Annualized
Return Ranking - Calendar
| Period | CABIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -16.8% | -46.5% | 0.1% | 47.70% |
| 2021 | 2.1% | -19.0% | 48.3% | 57.14% |
| 2020 | 7.3% | -16.5% | 52.8% | 41.52% |
| 2019 | 14.7% | -8.5% | 27.3% | 18.72% |
| 2018 | -9.6% | -29.6% | 1.6% | 43.84% |
Total Return Ranking - Trailing
| Period | CABIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.3% | -12.5% | 37.5% | 79.08% |
| 1 Yr | 10.4% | -18.5% | 25.3% | 23.85% |
| 3 Yr | 5.9%* | -14.6% | 18.5% | 24.36% |
| 5 Yr | 5.4%* | -11.2% | 11.3% | 17.59% |
| 10 Yr | 5.2%* | 0.3% | 9.1% | 24.64% |
* Annualized
Total Return Ranking - Calendar
| Period | CABIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -2.7% | -46.5% | 4.6% | 8.79% |
| 2021 | 12.4% | -10.6% | 48.3% | 47.90% |
| 2020 | 10.9% | -11.7% | 77.4% | 37.50% |
| 2019 | 18.5% | -3.9% | 28.2% | 23.74% |
| 2018 | -8.7% | -28.0% | 2.6% | 72.41% |
NAV & Total Return History
CABIX - Holdings
Concentration Analysis
| CABIX | Category Low | Category High | CABIX % Rank | |
|---|---|---|---|---|
| Net Assets | 186 M | 1.86 M | 83.5 B | 50.00% |
| Number of Holdings | 1374 | 2 | 3255 | 4.55% |
| Net Assets in Top 10 | 160 M | 349 K | 12.1 B | 40.50% |
| Weighting of Top 10 | 66.83% | 22.9% | 100.0% | 55.37% |
Top 10 Holdings
- AB Fixed Income Shares, Inc. - Government Money Market Portfolio 25.44%
- United States Treasury Inflation Indexed Bonds 23.97%
- Japanese Government CPI Linked Bond 7.92%
- iShares Russell 1000 Value ETF 2.78%
- United States Treasury Inflation Indexed Bonds 2.75%
- iShares Russell 2000 Value ETF 1.25%
- VanEck J. P. Morgan EM Local Currency Bond ETF 0.99%
- Vanguard Real Estate ETF 0.91%
- Mexico Government International Bond 0.48%
- Long: BS2GG17 IRS AUD R V 06MBBSW IS2GG28 CCPVANILLA / Short: BS2GG17 IRS AUD P F .87200 IS2GG17 CCPVANILLA 0.35%
Asset Allocation
| Weighting | Return Low | Return High | CABIX % Rank | |
|---|---|---|---|---|
| Bonds | 35.12% | 0.00% | 106.59% | 21.90% |
| Cash | 32.93% | -65.52% | 88.88% | 16.94% |
| Stocks | 32.83% | 0.00% | 238.38% | 82.23% |
| Preferred Stocks | 0.00% | 0.00% | 6.21% | 11.98% |
| Convertible Bonds | 0.00% | 0.00% | 8.92% | 59.09% |
| Other | -0.88% | -72.87% | 73.78% | 92.98% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CABIX % Rank | |
|---|---|---|---|---|
| Financial Services | 15.09% | 0.00% | 98.22% | 25.00% |
| Technology | 12.68% | 0.00% | 85.77% | 60.78% |
| Real Estate | 11.43% | 0.00% | 99.45% | 19.12% |
| Healthcare | 11.09% | 0.00% | 38.63% | 53.43% |
| Industrials | 10.36% | 0.00% | 23.85% | 34.80% |
| Consumer Defense | 8.89% | 0.00% | 37.51% | 25.49% |
| Consumer Cyclical | 7.43% | 0.00% | 25.83% | 55.39% |
| Utilities | 6.44% | 0.00% | 91.12% | 16.18% |
| Basic Materials | 6.44% | 0.00% | 56.73% | 20.10% |
| Energy | 5.71% | 0.00% | 60.89% | 51.47% |
| Communication Services | 4.44% | 0.00% | 21.61% | 62.25% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CABIX % Rank | |
|---|---|---|---|---|
| US | 23.93% | -1.19% | 235.84% | 76.45% |
| Non US | 8.90% | -6.82% | 98.11% | 16.53% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | CABIX % Rank | |
|---|---|---|---|---|
| Government | 80.13% | 0.00% | 99.78% | 8.68% |
| Cash & Equivalents | 25.46% | -72.56% | 100.00% | 17.36% |
| Securitized | 0.00% | 0.00% | 52.99% | 55.37% |
| Corporate | 0.00% | 0.00% | 98.28% | 72.73% |
| Municipal | 0.00% | 0.00% | 19.13% | 43.39% |
| Derivative | -0.88% | 0.00% | 71.81% | 93.39% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | CABIX % Rank | |
|---|---|---|---|---|
| US | 27.20% | -17.22% | 99.80% | 16.94% |
| Non US | 7.92% | -2.67% | 63.37% | 10.33% |
CABIX - Expenses
Operational Fees
| CABIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.06% | 0.21% | 4.40% | 81.82% |
| Management Fee | 0.59% | 0.00% | 1.50% | 18.60% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.05% | 0.70% | N/A |
Sales Fees
| CABIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| CABIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CABIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 7.00% | 1.75% | 441.00% | 2.04% |
CABIX - Distributions
Dividend Yield Analysis
| CABIX | Category Low | Category High | CABIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 7.05% | 0.00% | 12.46% | 44.81% |
Dividend Distribution Analysis
| CABIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| CABIX | Category Low | Category High | CABIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.77% | -2.01% | 13.72% | 19.42% |
Capital Gain Distribution Analysis
| CABIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 13, 2021 | $1.859 | OrdinaryDividend |
| Dec 14, 2020 | $0.604 | OrdinaryDividend |
| Dec 16, 2019 | $0.279 | OrdinaryDividend |
| Dec 17, 2018 | $0.140 | OrdinaryDividend |
| Dec 19, 2017 | $0.574 | OrdinaryDividend |
| Dec 20, 2016 | $0.908 | OrdinaryDividend |
| Dec 22, 2015 | $0.035 | OrdinaryDividend |
| Dec 23, 2014 | $1.200 | OrdinaryDividend |
| Jun 19, 2013 | $0.079 | OrdinaryDividend |
| Sep 18, 2012 | $0.072 | OrdinaryDividend |
| Jun 20, 2012 | $0.070 | OrdinaryDividend |
| Mar 21, 2012 | $0.058 | OrdinaryDividend |
| Dec 28, 2011 | $0.108 | OrdinaryDividend |
| Sep 21, 2011 | $0.082 | OrdinaryDividend |
| Jun 21, 2011 | $0.081 | OrdinaryDividend |
| Mar 22, 2011 | $0.064 | OrdinaryDividend |
| Dec 27, 2010 | $0.102 | OrdinaryDividend |
| Sep 21, 2010 | $0.073 | OrdinaryDividend |
| Jun 22, 2010 | $0.088 | OrdinaryDividend |
| Mar 23, 2010 | $0.052 | OrdinaryDividend |
| Dec 29, 2009 | $0.120 | OrdinaryDividend |
| Sep 22, 2009 | $0.080 | OrdinaryDividend |
| Jun 23, 2009 | $0.081 | OrdinaryDividend |
| Mar 24, 2009 | $0.056 | OrdinaryDividend |
| Dec 29, 2008 | $0.118 | OrdinaryDividend |
| Sep 23, 2008 | $0.107 | OrdinaryDividend |
| Jun 24, 2008 | $0.090 | OrdinaryDividend |
| Mar 24, 2008 | $0.084 | OrdinaryDividend |
| Dec 24, 2007 | $0.142 | OrdinaryDividend |
| Sep 24, 2007 | $0.112 | OrdinaryDividend |
| Jun 26, 2007 | $0.106 | OrdinaryDividend |
| Mar 27, 2007 | $0.099 | OrdinaryDividend |
| Dec 27, 2006 | $0.122 | OrdinaryDividend |
| Sep 26, 2006 | $0.100 | OrdinaryDividend |
| Jun 27, 2006 | $0.092 | OrdinaryDividend |
| Mar 28, 2006 | $0.082 | OrdinaryDividend |
| Sep 27, 2005 | $0.084 | OrdinaryDividend |
| Jun 28, 2005 | $0.080 | OrdinaryDividend |
| Mar 29, 2005 | $0.075 | OrdinaryDividend |
CABIX - Fund Manager Analysis
Managers
Leon Zhu
Start Date
Tenure
Tenure Rank
Oct 08, 2012
9.65
9.7%
Leon Zhu is a Senior Vice President and Portfolio Manager of Multi-Asset Solutions at AB, and has been Co-Portfolio Manager of Global Risk Allocation products since 2012. Previously, he served as director of Quantitative Research, a position he held for 10 years. Mr. Zhu joined AllianceBernstein L.P. in 1995. Zhu was also a member of the Investment Policy Group for the AllianceBernstein L.P.’s Global Diversified Strategies hedge funds from its inception in 2002 until 2014. Before joining AB as a quantitative analyst in 1995, he was a consultant at Princeton Consultants. Zhu holds a BS in mathematics from Yale University and an MA in mathematics from Princeton University, and is a CFA charterholder.
Daniel Loewy
Start Date
Tenure
Tenure Rank
Feb 10, 2016
6.31
6.3%
Daniel Loewy is Chief Investment Officer and Head of Multi-Asset Solutions. He oversees the research and product design of the firm’s multi-asset strategies, as well as their implementation. In addition, Loewy is Chief Investment Officer for Dynamic Asset Allocation, and is responsible for the development and investment decision-making for that service. He is also a member of the Real Asset Investment Policy Group and the Target Date Investment Oversight team. Loewy previously led the Wealth Management Group’s research on the major investment issues faced by our highest-net-worth clients, including asset allocation, alternative investments and tax management. Prior to that, he was a research analyst in the equity research department, where he followed the aerospace and defense and capital goods sectors. Additionally, Loewy has served as an associate portfolio manager for our value equity services. He holds a BS in industrial and labor relations from Cornell University and an MBA from Columbia University, and is a CFA charterholder. Location: New York
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.83 | 6.7 | 13.0 |