Fund Evaluator:
AB Relative Value Advisor (CBBYX)
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Best Performing in Large Value Over the Last Year
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Fund Details
AB Relative Value Advisor Overview
AB Relative Value Advisor (CBBYX) is an actively managed U.S. Equity Large Value fund. AllianceBernstein launched the fund in 1996.
The investment seeks long-term growth of capital. The fund invests primarily in the equity securities of U.S. companies that the Adviser believes are trading at attractive valuations that have strong or improving business models. The Adviser monitors the fundamental performance of the fund's investments for signs of future financial success. The Adviser relies heavily upon the fundamental analysis and research of its dedicated investment team for The fund invests in conducting research and making investment decisions.
About AB Relative Value Advisor (CBBYX)
There are 3 members of the management team with an average tenure of 4.41 years: Christopher Kotowicz (2023), Adam Yee (2025), John Fogarty (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. AB Relative Value Advisor has 78 securities in its portfolio. The top 10 holdings constitute 37.6% 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 Relative Value Advisor is part of the Equity global asset class and is within the U.S. Equity fund group. AB Relative Value Advisor has 1.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.8%. There is 1.5% 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 Relative Value Advisor has 2.7% of the portfolio in cash.
Assets Under Management
The fund has $369 million in total assets, which is below the $1 billion average for the Large Value 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.
CBBYX 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 Relative Value Advisor expense ratio is above average compared to funds in the Large Value category. AB Relative Value Advisor has an expense ratio of 0.65%, which is 30% lower than its category average, making the fund expense ratio grade a B. 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 Relative Value Advisor has a portfolio turnover rate of 65%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 63% for the Large Value category.
Recently, in the month of August 2026, AB Relative Value Advisor returned 1.6%, which earned it a grade of C, as the Large Value category had an average return of 1.6%. 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 Relative Value Advisor has a trailing yield of 0.91%, which is below the 1.17% category average. The fund normally distributes its income annually 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 Relative Value Advisor Grades
Year to date, the fund has returned 19.1%, 3.0 percentage points better than the category, which translates into a grade of B. The fund has returned 23.1% over the past year (grade of C), 16.2% over the past three years (grade of D) and 10.5% per year over the past five years (grade of C) and 12.0% per year over the past 10 years (grade of B).
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CBBYX 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 |
|
| CBBYX Return (NAV) | 1.6% | 7.5% | 23.1% | 16.2% | 10.5% | 12.0% |
| CBBYX Grade | C | B | C | D | C | B |
| +/- Category | -0.0% | 1.2% | 1.5% | -1.0% | -0.2% | 0.6% |
| Large Value Avg | 1.6% | 6.2% | 21.6% | 17.3% | 10.7% | 11.4% |
| CBBYX Tax Cost Ratio | na | na | 1.4% | 1.9% | 2.1% | 2.1% |
CBBYX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CBBYX Return (NAV) | 19.1% | 10.4% | 13.0% | 11.7% | -4.2% | 27.8% | 3.0% | 23.7% | -5.8% | 19.1% | 11.4% |
| CBBYX Grade | B | F | C | C | B | B | C | D | B | B | F |
| +/- Category | 3.0% | -4.7% | -1.2% | -0.1% | 1.9% | 2.1% | -0.8% | -2.0% | 2.6% | 2.6% | -3.1% |
| Large Value Avg | 16.1% | 15.1% | 14.1% | 11.8% | -6.1% | 25.7% | 3.9% | 25.6% | -8.5% | 16.5% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 11.3% |
| Total Risk Index: | 0.93 - Average |
| Category Risk Index: | 0.95 - Below Average |
| Category Risk Grade: | B (28% Rank) |
| Beta: | 0.67 |
| R-Squared: | 59% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1952 Mil |
| Fund Total Assets: | $ 369 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 65% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.4 years | |||
| Average Tenure: 4.4 years | |||
| Managers (Year): Fogarty John (2018), Kotowicz Christopher (2023), Yee Adam (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 78 |
| % in Top 10 Holdings: | 37.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.5% |
Portfolio Allocation |
|
| Domestic Stock: | 95.8% |
| Foreign Stock: | 1.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.7% |
Purchase Information
| Fund Family: | AllianceBernstein |
| Phone Number: | 800-227-4618 |
| Website: | www.AllianceBernstein.com |
| Status: | Open |
| Inception Date: | October 1, 1996 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | AB Relative Value A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
