AB Municipal Income Fund National Portfolio (ALTHX)
The investment seeks to earn the highest level of current income, exempt from federal income tax, which is available without assuming what the Adviser considers to be undue risk to principal or income. The fund invests principally 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. These securities may pay interest that is subject to the federal alternative minimum tax ("AMT") for certain taxpayers. The fund may invest more than 25% of its assets in a single state.
Fund Info
| ISIN | US0186421089 |
|---|---|
| CUSIP | 018642108 |
| Issuer | AllianceBernstein |
| Inception Date | Dec 28, 1986 |
| Category | Municipal Bonds |
| Minimum Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
The AB Municipal Income Fund National Portfolio has a high expense ratio of 0.75%, indicating higher-than-average management fees.
Share Price Chart
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Performance
The chart shows the growth of an initial investment of $10,000 in AB Municipal Income Fund National Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Compare to other instruments
Return
AB Municipal Income Fund National Portfolio had a return of 1.12% year-to-date (YTD) and -1.27% in the last 12 months. Over the past 10 years, AB Municipal Income Fund National Portfolio had an annualized return of 1.92%, while the S&P 500 had an annualized return of 9.96%, indicating that AB Municipal Income Fund National Portfolio did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| 1 month | -1.56% | 0.86% |
| Year-To-Date | 1.12% | 9.53% |
| 6 months | 1.63% | 6.09% |
| 1 year | -1.27% | 1.14% |
| 5 years (annualized) | 1.16% | 9.10% |
| 10 years (annualized) | 1.92% | 9.96% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2.90% | -1.94% | 1.55% | 0.24% | ||||||||
| 2022 | -1.05% | 4.31% | -0.16% |
Risk-Adjusted Performance
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Fund National Portfolio (ALTHX) and S&P 500 (^GSPC). 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.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
|---|---|---|---|---|---|
ALTHX AB Municipal Income Fund National Portfolio | 0.01 | ||||
^GSPC S&P 500 | 0.27 |
Dividend History
AB Municipal Income Fund National Portfolio granted a 3.79% dividend yield in the last twelve months. The annual payout for that period amounted to $0.36 per share.
| Period | TTM | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.25 | $0.21 | $0.26 | $0.28 | $0.29 | $0.31 | $0.31 | $0.35 | $0.37 | $0.36 | $0.39 |
Dividend yield | 3.79% | 2.62% | 1.98% | 2.56% | 2.85% | 3.25% | 3.46% | 3.68% | 4.09% | 4.46% | 4.83% | 4.95% |
Monthly Dividends
The table displays the monthly dividend distributions for AB Municipal Income Fund National 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | ||||||||
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2019 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2018 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 |
| 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 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 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 |
| 2012 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below shows the maximum drawdowns of the AB Municipal Income Fund National Portfolio. A maximum drawdown is an indicator of risk. It shows a reduction in portfolio value from its maximum due to a series of losing trades.
The maximum drawdown since January 2010 for the AB Municipal Income Fund National Portfolio is 19.05%, recorded on Nov 21, 1994. It took 662 trading sessions for the portfolio to recover.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.05% | Oct 18, 1993 | 286 | Nov 21, 1994 | 662 | Jun 4, 1997 | 948 |
| -15.21% | Jan 24, 2008 | 226 | Dec 15, 2008 | 180 | Sep 2, 2009 | 406 |
| -14.14% | Aug 5, 2021 | 310 | Oct 26, 2022 | — | — | — |
| -12.83% | Mar 3, 2020 | 14 | Mar 20, 2020 | 170 | Nov 19, 2020 | 184 |
| -9.76% | Oct 7, 1998 | 335 | Jan 19, 2000 | 252 | Jan 19, 2001 | 587 |
Volatility Chart
The current AB Municipal Income Fund National Portfolio volatility is 0.88%, 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.