AB Municipal Income Fund II Pennsylvania Portfolio (APAAX)
The fund 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. It invests at least 80% of its net assets in municipal securities of Pennsylvania or municipal securities with interest that is otherwise exempt from Pennsylvania state income tax.
Fund Info
| ISIN | US01864E8396 |
|---|---|
| CUSIP | 01864E839 |
| Issuer | AllianceBernstein |
| Inception Date | Jun 24, 1993 |
| Category | Municipal Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
APAAX has a high expense ratio of 0.85%, indicating higher-than-average management fees.
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 Pennsylvania 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 Pennsylvania Portfolio had a return of -1.21% year-to-date (YTD) and 1.39% in the last 12 months. Over the past 10 years, AB Municipal Income Fund II Pennsylvania Portfolio had an annualized return of 2.06%, while the S&P 500 had an annualized return of 10.37%, indicating that AB Municipal Income Fund II Pennsylvania Portfolio did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -1.21% | 5.57% |
| 1 month | -1.55% | -4.16% |
| 6 months | 6.58% | 20.07% |
| 1 year | 1.39% | 20.82% |
| 5 years (annualized) | 0.89% | 11.56% |
| 10 years (annualized) | 2.06% | 10.37% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.26% | -0.16% | 0.26% | |||||||||
| 2023 | -1.58% | 5.37% | 2.38% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of APAAX is 13, indicating that it is in the bottom 13% of the market in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
AB Municipal Income Fund II Pennsylvania Portfolio(APAAX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for AB Municipal Income Fund II Pennsylvania Portfolio (APAAX) 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 Pennsylvania Portfolio granted a 2.84% dividend yield in the last twelve months. The annual payout for that period amounted to $0.27 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.29 | $0.27 | $0.27 | $0.30 | $0.31 | $0.31 | $0.31 | $0.31 | $0.32 | $0.33 | $0.38 |
Dividend yield | 2.84% | 3.04% | 2.87% | 2.48% | 2.79% | 2.92% | 3.03% | 2.91% | 3.02% | 3.03% | 3.16% | 3.77% |
Monthly Dividends
The table displays the monthly dividend distributions for AB Municipal Income Fund II Pennsylvania 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.02 | $0.02 | |||||||||
| 2023 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 |
| 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 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 |
| 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 |
| 2018 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 |
| 2017 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $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 | $0.06 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the AB Municipal Income Fund II Pennsylvania 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 Pennsylvania Portfolio was 13.99%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current AB Municipal Income Fund II Pennsylvania Portfolio drawdown is 6.59%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.99% | Jan 4, 2022 | 204 | Oct 25, 2022 | — | — | — |
| -11.85% | Jan 24, 2008 | 225 | Dec 12, 2008 | 179 | Aug 31, 2009 | 404 |
| -11.11% | Mar 9, 2020 | 10 | Mar 20, 2020 | 96 | Aug 6, 2020 | 106 |
| -7.85% | Dec 3, 2012 | 193 | Sep 9, 2013 | 173 | May 16, 2014 | 366 |
| -7.6% | Apr 22, 1999 | 194 | Jan 19, 2000 | 141 | Aug 10, 2000 | 335 |
Volatility
Volatility Chart
The current AB Municipal Income Fund II Pennsylvania Portfolio volatility is 0.86%, 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.