- 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
- $702M
Highlights
- Avg. Volume (1M)
- 173K
- Avg. Volume Value (1M)
- $4.38M
Share Price Chart
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Performance
TAFM Performance Chart
AB Tax-Aware Intermediate Municipal ETF (TAFM) is up 0.8% since the beginning of the year. TAFM is currently trading at $25 per share.
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Returns By Period
AB Tax-Aware Intermediate Municipal ETF (TAFM) has returned 0.84% so far this year and 5.14% over the past 12 months.
AB Tax-Aware Intermediate Municipal ETF
- 1D
- -0.04%
- 1M
- -1.60%
- 6M
- 0.02%
- YTD
- 0.84%
- 1Y
- 5.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.47%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
TAFM Monthly Returns History
Based on dividend-adjusted daily data since Dec 13, 2023, TAFM's average daily return is +0.01%, while the average monthly return is +0.29%. At this rate, an investment would double in approximately 19.9 years.
Historically, 66% of months were positive and 34% 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 52% 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% | 0.78% | -1.66% | 0.84% | |||||
| 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 3.34%, 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 29.67% 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
- 3.34%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 18.22%
- Downside Capture
- 29.67%
Expense Ratio
TAFM has an expense ratio of 0.28%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TAFM ranks 72 for risk / return — above 72% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return 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 | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.00 | +0.11 |
| Martin ratioReturn relative to average drawdown | 7.17 | 8.49 | -1.32 |
Dividends
Dividend History
AB Tax-Aware Intermediate Municipal ETF provided a 3.37% dividend yield over the last twelve months, with an annual payout of $0.85 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.85 | $0.89 | $0.85 | $0.05 |
Dividend yield | 3.37% | 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 | $0.08 | $0.46 | |||||
| 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.
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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 1.70%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-4.74%Apr 2025 | 1mo 9d | 5mo | 6mo 9dMar 2025 - Sep 2025 | 2025 selloff2025 |
-2.73%Jan 2025 | 1mo 6d | 1mo 15d | 2mo 21dDec 2024 - Feb 2025 | — |
-2.69%Mar 2026 | 25d | 3mo | 3mo 25dMar 2026 - Jun 2026 | — |
-2.50%Nov 2024 | 1mo 4d | 27d | 2mo 1dOct 2024 - Dec 2024 | — |
-1.85%Jul 2026 | 17d | — | 26dJul 2026 - now | — |
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 | -1.70% | -1.58% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -10.70% | +9.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 2.14% | -1.35% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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