- Issuer
- AllianceBernstein
- Inception Date
- Dec 12, 2023
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $655M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
TAFM Performance Chart
AB Tax-Aware Intermediate Municipal ETF (TAFM) is up 2.2% since the beginning of the year. TAFM is currently trading at $26 per share.
Loading charts...
Returns By Period
AB Tax-Aware Intermediate Municipal ETF (TAFM) has returned 2.19% so far this year and 6.95% over the past 12 months.
AB Tax-Aware Intermediate Municipal ETF
- 1D
- 0.08%
- 1M
- 1.52%
- YTD
- 2.19%
- 6M
- 2.26%
- 1Y
- 6.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TAFM Monthly Returns History
Based on dividend-adjusted daily data since Dec 13, 2023, TAFM's average daily return is +0.02%, while the average monthly return is +0.34%. At this rate, an investment would double in approximately 17.0 years.
Historically, 68% of months were positive and 32% were negative. The best month was Sep 2025 with a return of +2.8%, while the worst month was Mar 2026 at -2.1%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, TAFM closed higher 53% of trading days. The best single day was Apr 10, 2025 with a return of +1.7%, while the worst single day was Apr 11, 2025 at -3.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.83% | 1.44% | -2.13% | 0.96% | 0.68% | 0.43% | 2.19% | ||||||
| 2025 | 0.32% | 1.50% | -1.72% | -0.34% | -0.78% | 1.03% | -0.51% | 0.68% | 2.77% | 1.03% | 0.24% | -0.04% | 4.21% |
| 2024 | 0.16% | -0.10% | 0.24% | -1.17% | 0.48% | 0.96% | 1.44% | 0.60% | 1.16% | -1.65% | 1.68% | -1.22% | 2.54% |
| 2023 | 1.51% | 1.51% |
Benchmark Metrics
AB Tax-Aware Intermediate Municipal ETF has an annualized alpha of 4.08%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 13, 2023.
- This ETF participated in 23.64% of S&P 500 Index downside but only 18.22% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.01 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.08%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 18.22%
- Downside Capture
- 23.64%
Expense Ratio
TAFM has an expense ratio of 0.28%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TAFM ranks 68 for risk / return — better than 68% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AB Tax-Aware Intermediate Municipal ETF (TAFM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TAFM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.78 | -0.19 |
| Martin ratioReturn relative to average drawdown | 9.22 | 12.44 | -3.22 |
Dividends
Dividend History
AB Tax-Aware Intermediate Municipal ETF provided a 3.63% dividend yield over the last twelve months, with an annual payout of $0.93 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.93 | $0.89 | $0.85 | $0.05 |
Dividend yield | 3.63% | 3.51% | 3.35% | 0.18% |
Monthly Dividends
The table displays the monthly dividend distributions for AB Tax-Aware Intermediate Municipal ETF. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.08 | $0.08 | $0.08 | $0.08 | $0.07 | $0.38 | ||||||
| 2025 | $0.00 | $0.07 | $0.07 | $0.07 | $0.06 | $0.08 | $0.08 | $0.08 | $0.08 | $0.07 | $0.08 | $0.17 | $0.89 |
| 2024 | $0.00 | $0.07 | $0.07 | $0.08 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.06 | $0.15 | $0.85 |
| 2023 | $0.05 | $0.05 |
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the AB Tax-Aware Intermediate Municipal ETF. 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 Tax-Aware Intermediate Municipal ETF was 4.74%, occurring on Apr 11, 2025. Recovery took 101 trading sessions.
The current AB Tax-Aware Intermediate Municipal ETF drawdown is 0.09%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -4.74%Apr 2025 | 1mo 9d | 5mo | 6mo 9dMar 2025 - Sep 2025 |
2025 pullback2025 | -2.73%Jan 2025 | 1mo 6d | 1mo 15d | 2mo 21dDec 2024 - Feb 2025 |
2026 pullback2026 | -2.69%Mar 2026 | 25d | — | 3mo 23dMar 2026 - now |
2024 pullback2024 | -2.50%Nov 2024 | 1mo 4d | 27d | 2mo 1dOct 2024 - Dec 2024 |
2024 pullback2024 | -1.60%Apr 2024 | 2mo 14d | 29d | 3mo 13dFeb 2024 - May 2024 |
Drawdown Indicators
| TAFM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.74% | -56.78% | +52.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -9.10% | +6.41% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.09% | -1.80% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -10.71% | +9.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 2.03% | -1.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with TAFM
Add AB Tax-Aware Intermediate Municipal ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with TAFM