AB Municipal Income Fund II Arizona Portfolio (AAZAX)
The investment seeks to earn the highest level of current income exempt from both federal income tax and State of Arizona personal income tax that is available without assuming what the Adviser considers to be undue risk. The fund principally invests in high-yielding, predominantly investment grade municipal securities. It invests at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax.
Fund Info
US01864E7976
01864E797
May 31, 1994
$2,500
Expense Ratio
AAZAX features an expense ratio of 0.78%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in AB Municipal Income Fund II Arizona Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
AB Municipal Income Fund II Arizona Portfolio had a return of 2.72% year-to-date (YTD) and 3.30% in the last 12 months. Over the past 10 years, AB Municipal Income Fund II Arizona Portfolio had an annualized return of 2.14%, while the S&P 500 had an annualized return of 11.01%, indicating that AB Municipal Income Fund II Arizona Portfolio did not perform as well as the benchmark.
AAZAX
2.72%
-0.38%
1.38%
3.30%
0.85%
2.14%
^GSPC (Benchmark)
23.11%
-0.36%
7.02%
23.15%
12.80%
11.01%
Monthly Returns
The table below presents the monthly returns of AAZAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.04% | 0.13% | 0.43% | -1.42% | 0.47% | 1.80% | 1.01% | 0.93% | 0.89% | -1.46% | 1.25% | 2.72% | |
| 2023 | 2.63% | -2.01% | 1.55% | 0.04% | -0.93% | 0.53% | 0.02% | -0.96% | -2.46% | -1.92% | 6.11% | 2.56% | 4.94% |
| 2022 | -1.92% | -0.53% | -2.59% | -2.84% | 1.19% | -1.77% | 2.36% | -2.14% | -3.73% | -0.88% | 4.34% | -0.24% | -8.69% |
| 2021 | 0.56% | -1.48% | 0.74% | 0.83% | 0.62% | 0.28% | 0.80% | -0.25% | -0.70% | 0.10% | 0.79% | 0.01% | 2.31% |
| 2020 | 1.56% | 1.24% | -5.40% | -1.33% | 2.46% | 1.41% | 1.50% | -0.06% | 0.03% | -0.13% | 1.46% | 0.84% | 3.37% |
| 2019 | 0.90% | 0.59% | 1.25% | 0.32% | 1.07% | 0.48% | 0.69% | 1.40% | -0.59% | 0.05% | 0.13% | 0.30% | 6.78% |
| 2018 | -0.74% | -0.41% | 0.26% | -0.40% | 1.08% | 0.16% | 0.25% | 0.18% | -0.61% | -0.59% | 0.72% | 0.88% | 0.77% |
| 2017 | 0.54% | 0.42% | 0.28% | 0.78% | 1.35% | -0.19% | 0.60% | 0.87% | -0.37% | 0.15% | -0.39% | 0.88% | 5.02% |
| 2016 | 1.34% | 0.15% | 0.43% | 0.70% | 0.34% | 1.57% | -0.01% | 0.25% | -0.35% | -0.89% | -3.39% | 0.82% | 0.87% |
| 2015 | 1.91% | -1.33% | 0.28% | -0.62% | -0.07% | -0.17% | 0.85% | 0.09% | 0.73% | 0.45% | 0.62% | 0.81% | 3.57% |
| 2014 | 1.37% | 1.13% | 0.22% | 0.86% | 1.69% | 0.03% | 0.03% | 1.20% | 0.20% | 0.77% | 0.27% | 0.75% | 8.85% |
| 2013 | 0.30% | 0.35% | -0.41% | 1.17% | -1.21% | -2.83% | -0.89% | -1.36% | 1.54% | 0.40% | -0.07% | -0.34% | -3.37% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of AAZAX is 44, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for AB Municipal Income Fund II Arizona Portfolio (AAZAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
AB Municipal Income Fund II Arizona Portfolio provided a 2.65% dividend yield over the last twelve months, with an annual payout of $0.28 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.28 | $0.29 | $0.28 | $0.26 | $0.29 | $0.31 | $0.32 | $0.33 | $0.34 | $0.37 | $0.40 | $0.39 |
Dividend yield | 2.65% | 2.80% | 2.78% | 2.28% | 2.56% | 2.75% | 2.94% | 2.98% | 3.14% | 3.29% | 3.54% | 3.68% |
Monthly Dividends
The table displays the monthly dividend distributions for AB Municipal Income Fund II Arizona Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.00 | $0.00 | $0.25 |
| 2023 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.29 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.28 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2020 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.29 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.31 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2014 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.40 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the AB Municipal Income Fund II Arizona Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the AB Municipal Income Fund II Arizona Portfolio was 12.88%, occurring on Oct 26, 2022. Recovery took 484 trading sessions.
The current AB Municipal Income Fund II Arizona Portfolio drawdown is 1.74%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -12.88% | Aug 6, 2021 | 309 | Oct 26, 2022 | 484 | Oct 1, 2024 | 793 |
| -11.73% | Mar 3, 2020 | 14 | Mar 20, 2020 | 180 | Dec 4, 2020 | 194 |
| -10.29% | Sep 12, 2008 | 24 | Oct 15, 2008 | 142 | May 11, 2009 | 166 |
| -7.08% | Oct 1, 2010 | 75 | Jan 18, 2011 | 135 | Aug 1, 2011 | 210 |
| -7.02% | May 3, 2013 | 89 | Sep 9, 2013 | 181 | May 29, 2014 | 270 |
Volatility
Volatility Chart
The current AB Municipal Income Fund II Arizona Portfolio volatility is 0.80%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.