Are you getting the best rate from your broker?
Compare your broker's rates now to find out if you can save money

Choose your broker below
Welcome to MutualFunds.com. Please help us personalize your experience.

Select the one that best describes you
Mutualfunds logo

AAZAX AB Municipal Income II Arizona A

  • Fund
  • AAZAX
  • Price as of: Aug 17, 2018
  • $10.97
  • - $0.00
  • - 0.00%
  • Category
  • Single State Municipal Bonds

AAZAX - Profile

Vitals

  • YTD Return -1.5%
  • 3 Yr Annualized Return 2.9%
  • 5 Yr Annualized Return 3.7%
  • Net Assets $119 M
  • Holdings in Top 10 36.7%

52 WEEK LOW AND HIGH

$10.97
$10.88
$11.25

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.00%

SALES FEES

  • Front Load 3.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Single State Interm

Distributions

  • YTD Total Return -1.5%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.92%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name AB Municipal Income Fund II Arizona Portfolio
  • Fund Family Name AllianceBernstein
  • Inception Date Jun 01, 1994
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Fred S. Cohen

Fund Description

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.

AAZAX - Performance

Return Ranking - Trailing

Period AAZAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.5% -100.0% 11.9% 23.78% 2
1 Yr 1.3% -13.2% 11.9% 11.62% 1
3 Yr 2.9% * -2.8% 8.2% 5.18% 1
5 Yr 3.7% * -2.7% 7.8% 10.64% 1
10 Yr 4.0% * 0.1% 6.9% 11.65% 1

* Annualized


Return Ranking - Calendar

Period AAZAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 1.9% -12.8% 6.8% 16.30% 2
2016 -2.1% -4.9% 7.9% 13.58% 2
2015 0.2% -7.9% 7.4% 15.42% 2
2014 5.0% -9.5% 15.6% 47.22% 4
2013 -6.8% -20.2% 7.4% 32.98% 3

Total Return Ranking - Trailing

Period AAZAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.5% -100.0% 11.9% 22.90% 2
1 Yr -1.7% -17.4% 8.6% 35.45% 2
3 Yr 1.9% * -3.7% 8.2% 15.14% 1
5 Yr 3.0% * -3.0% 7.8% 15.75% 1
10 Yr 3.7% * 0.1% 6.9% 15.18% 1

* Annualized


Total Return Ranking - Calendar

Period AAZAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 1.9% -12.8% 6.8% 16.30% 2
2016 -2.1% -4.9% 7.6% 16.56% 2
2015 0.2% -7.9% 8.0% 20.81% 2
2014 5.0% -9.5% 17.8% 49.68% 4
2013 -6.8% -20.2% 7.4% 35.42% 3

NAV & Total Return History

AAZAX - Holdings

Filings data as of: Jun 30, 2018

Concentration Analysis

AAZAX Category Low Category High AAZAX % Rank Quintile
Net Assets 119 M 2.11 M 18.5 B 26.65% 4
Number of Holdings 74 16 4174 19.19% 4
Net Assets in Top 10 42.3 M 203 K 2.66 B 19.86% 3
Weighting of Top 10 36.7% 2.8% 73.5% 6.69% 1

Top 10 Holdings

  1. TUCSON ARIZ ARPT AUTH INC 5.35% 5.64%
  2. ARIZONA ST 5% 5.45%
  3. MESA ARIZ 5% 4.76%
  4. ARIZONA BRD REGENTS 5% 3.65%
  5. BUCKEYE ARIZ 5% 3.37%
  6. ARIZONA HEALTH FACS AUTH 5% 2.90%
  7. ARIZONA ST TRANSN BRD 5% 2.85%
  8. PIMA CNTY ARIZ REGL TRANSN AUTH 5% 2.83%
  9. PINAL CNTY ARIZ 5% 2.79%
  10. MCALLISTER ACADEMIC VLG ARIZ LLC 5% 2.47%

Asset Allocation

Weighting Category Low Category High AAZAX % Rank Quintile
Bonds
99.91% -0.86% 114.82% 5.04% 2
Other
0.09% -5.26% 33.35% 6.69% 1
Stocks
0.00% 0.00% 1.87% 0.48% 5
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 5
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 5
Cash
0.00% -14.82% 99.63% 19.38% 5

Bond Sector Breakdown

Weighting Category Low Category High AAZAX % Rank Quintile
Municipal
99.91% 0.00% 114.82% 5.33% 2
Derivative
0.00% -5.47% 0.00% 0.10% 5
Cash & Equivalents
0.00% -14.82% 99.63% 18.90% 5
Securitized
0.00% 0.00% 0.00% 0.10% 5
Corporate
0.00% 0.00% 5.14% 2.62% 5
Government
0.00% -12.78% 2.84% 1.07% 5

Bond Geographic Breakdown

Weighting Category Low Category High AAZAX % Rank Quintile
US
98.23% -0.86% 114.82% 11.82% 3
Non US
1.68% 0.00% 45.96% 11.72% 2

AAZAX - Expenses

Operational Fees

AAZAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.00% 0.09% 5.19% 11.35% 3
Management Fee 0.45% 0.00% 1.30% 1.94% 3
12b-1 Fee 0.25% 0.00% 1.00% 2.16% 3
Administrative Fee N/A 0.00% 0.33% N/A N/A

Sales Fees

AAZAX Fees (% of AUM) Category Low Category High AAZAX Rank Quintile
Front Load 3.00% 1.00% 5.75% 3.25% 2
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

AAZAX Fees (% of AUM) Category Low Category High AAZAX Rank Quintile
Max Redemption Fee N/A 0.50% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AAZAX Fees (% of AUM) Category Low Category High AAZAX Rank Quintile
Turnover 12.00% 0.00% 157.00% 9.10% 2

AAZAX - Distributions

Dividend Yield Analysis

AAZAX Category Low Category High AAZAX % Rank Quintile
Dividend Yield 0.4% 0.00% 0.99% 10.74% 2

Dividend Distribution Analysis

AAZAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

AAZAX Category Low Category High AAZAX % Rank Quintile
Net Income Ratio 2.92% 0.00% 6.13% 11.54% 3

Capital Gain Distribution Analysis

AAZAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

AAZAX - Managers

Fred S. Cohen

Manager

Start Date

Dec 31, 2002

Tenure

15.59

Tenure Rank

3.6%

Fred S. Cohen has been Director of Municipal Bond Trading since 1994 and is a member of the Tax-Exempt Fixed-Income Policy Group. Previously, he served as a municipal credit research analyst, equity trader/analyst and assistant controller. Prior to joining the firm in 1985, Cohen was an assistant controller with Mickelberry Corporation and an auditor and tax specialist with Peat, Marwick, Mitchell & Co. for three years. He is a member of the 2017 MSRB Investor Advisory Group. Cohen earned a BS from the University of Pennsylvania’s Wharton School in 1979 and an MBA from New York University in 1988. Location: New York


Terrance T. Hults

Manager

Start Date

Jun 01, 1995

Tenure

23.18

Tenure Rank

1.6%

Terrance T. Hults is a member of the Tax-Exempt Fixed-Income Investment Policy Group. Prior to joining the firm, he was an associate in the Municipal Derivative Products department at Merrill Lynch Capital Markets, where he specialized in securities arbitrage. These transactions involved issuers and investors, as well as proprietary trading and utilized futures, options, interest-rate swaps, and other over-the-counter derivative structures. Hults received a BA in economics from Williams College and an MBA in finance from Columbia University. Location: New York


Robert B. (Guy) Davidson

Manager

Start Date

Dec 31, 2002

Tenure

15.59

Tenure Rank

3.6%

R. B. Davidson III joined the firm as Director of Municipal Bonds in 1992. He is Chairman of the Tax-Exempt Fixed Income Investment Policy Group and a member of the Taxable Fixed Income Investment Policy Group. Davidson also serves on the partnership committee at AB. Before joining the firm, he was vice president and head of municipal strategies at J.P. Morgan Securities and an associate economist at Lehman Brothers. He is the author of “The Value of Tax Management for Bond Portfolios,” published in The Journal of Private Portfolio Management, Spring 1999; “Maximizing Expected After-Tax Returns,” published by Probus in 1994 in the Handbook of Municipal Bonds; and “Analyzing Quality Spreads,” published in The Municipal Finance Journal in 1991. Davidson was named to the Institutional Investor‘s All-America Research Team in 1992. He earned a BA with honors from Wesleyan University and an MBA from the New York University Stern School of Business. Location: New York


Matthew J Norton

Manager

Start Date

Jan 28, 2016

Tenure

2.51

Tenure Rank

12.3%

Matthew Norton is a Portfolio Manager on the Municipal Bond team, which oversees tax-exempt investing at AB. He joined the firm in 2005, focusing primarily on research in tax-exempt and taxable fixed-income markets. In this role, Norton worked on building expected return models across fixed-income sectors and on monitoring derivative exposures. Before joining AB, he worked for a year as a statistical research analyst at St. Lawrence University, evaluating the accuracy of biometric devices. Norton holds a BS in economics and mathematics from St. Lawrence University and an MBA in economics and quantitative finance from New York University Stern School of Business. Location: New York


Tenure Analysis

Category Low

0.1

Category High

38.9

Category Average

9.72

Category Mode

3.6