Fund Evaluator:
AB Global Real Estate Investment II I (ARIIX)
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Best Performing in Global Real Estate Over the Last Year
| 11.5% | PGIM Global Real Estate Z (PURZX) |
| 11.2% | PGIM Select Real Estate Z (SREZX) |
| 10.1% | American Century Global Real Estate Y (ARYYX) |
| 10.0% | VALIC Company I Global Real Estate (VGREX) |
| 10.0% | Northern Global Real Estate Index (NGREX) |
Fund Details
AB Global Real Estate Investment II I Overview
AB Global Real Estate Investment II I (ARIIX) is an actively managed Sector Equity Global Real Estate fund. AllianceBernstein launched the fund in 1997.
The investment seeks total return from long-term growth of capital and income. The fund invests at least 80% of its net assets in the equity securities of real estate investment trusts, or REITs, and other real estate industry companies, such as real estate operating companies. It invests in U.S. and non-U.S. issuers. The fund invests significantly (at least 40%--unless market conditions are not deemed favorable by the Adviser) in securities of non-U.S. companies. It invests in the equity securities of companies located in at least three countries.
About AB Global Real Estate Investment II I (ARIIX)
There are 2 members of the management team with an average tenure of 2.16 years: Philippos Philippides (2023), Artem Dergunov (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. AB Global Real Estate Investment II I has 90 securities in its portfolio. The top 10 holdings constitute 38.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
AB Global Real Estate Investment II I is part of the Equity global asset class and is within the Sector Equity fund group. AB Global Real Estate Investment II I has 35.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 63.6%. There is 35.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). AB Global Real Estate Investment II I has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $184 million in total assets, which is below the $202 million average for the Global Real Estate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ARIIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The AB Global Real Estate Investment II I expense ratio is above average compared to funds in the Global Real Estate category. AB Global Real Estate Investment II I has an expense ratio of 0.79%, which is 31% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. AB Global Real Estate Investment II I has a portfolio turnover rate of 37%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 71% for the Global Real Estate category.
Recently, in the month of August 2026, AB Global Real Estate Investment II I returned -3.0%, which earned it a grade of C, as the Global Real Estate category had an average return of -3.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
AB Global Real Estate Investment II I has a trailing yield of 4.08%, which is above the 2.83% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
AB Global Real Estate Investment II I Grades
Year to date, the fund has returned 8.0%, 0.4 percentage points better than the category, which translates into a grade of D. The fund has returned 8.7% over the past year (grade of C), 10.2% over the past three years (grade of A) and 1.4% per year over the past five years (grade of B) and 4.6% per year over the past 10 years (grade of B).
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ARIIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ARIIX Return (NAV) | -3.0% | 0.4% | 8.7% | 10.2% | 1.4% | 4.6% |
| ARIIX Grade | C | C | C | A | B | B |
| +/- Category | 0.0% | 0.1% | 1.2% | 1.8% | 1.4% | 0.6% |
| Global Real Estate Avg | -3.0% | 0.3% | 7.5% | 8.4% | -0.0% | 4.1% |
| ARIIX Tax Cost Ratio | na | na | 1.6% | 1.3% | 1.4% | 1.6% |
ARIIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ARIIX Return (NAV) | 8.0% | 10.5% | 2.9% | 12.5% | -25.4% | 26.5% | -4.6% | 23.5% | -4.3% | 14.4% | 3.4% |
| ARIIX Grade | D | A | B | A | B | C | D | D | B | B | C |
| +/- Category | 0.4% | 1.1% | 2.3% | 2.1% | 0.5% | 1.9% | -2.9% | -1.9% | 1.5% | 0.6% | 0.4% |
| Global Real Estate Avg | 7.6% | 9.4% | 0.6% | 10.4% | -25.9% | 24.6% | -1.7% | 25.5% | -5.8% | 13.9% | 3.1% |
| Risk Measures | |
| Standard Deviation: | 16.2% |
| Total Risk Index: | 1.33 - Above Average |
| Category Risk Index: | 1.01 - Above Average |
| Category Risk Grade: | D (63% Rank) |
| Beta: | 0.97 |
| R-Squared: | 55% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 4.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $184 Mil |
| Fund Total Assets: | $ 184 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 37% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 2.2 years | |||
| Managers (Year): Philippides Philippos (2023), Dergunov Artem (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 90 |
| % in Top 10 Holdings: | 38.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 35.3% |
Portfolio Allocation |
|
| Domestic Stock: | 63.6% |
| Foreign Stock: | 35.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.6% |
| Cash: | 0.5% |
Purchase Information
| Fund Family: | AllianceBernstein |
| Phone Number: | 212-486-5800 |
| Website: | www.AllianceBernstein.com |
| Status: | Open |
| Inception Date: | December 9, 1997 |
| Min. Initial Purchase: | $2,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.79% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | AB Global Real Estate Investment II I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
