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AGDBX AB High Income B

  • Fund
  • AGDBX
  • Price as of: Dec 08, 2016
  • $8.67
  • + $0.01
  • + 0.12%
  • Category
  • Total Bond Market

AGDBX - Profile

Vitals

  • YTD Return 7.2%
  • 3 Yr Annualized Return 3.1%
  • 5 Yr Annualized Return 6.8%
  • Net Assets $7.41 B
  • Holdings in Top 10 20.4%

52 WEEK LOW AND HIGH

$8.67
$7.63
$8.81

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.63%

SALES FEES

  • Front Load N/A
  • Deferred Load 3.00%

BROKERAGE FEES

  • Turnover 53.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2009-02-02

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 7.2%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.95%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name AB High Income Fund
  • Fund Family Name AllianceBernstein
  • Inception Date Feb 25, 1994
  • Shares Outstanding N/A
  • Share Class B
  • Currency USD
  • Domiciled Country United States
  • Manager Matthew S. Sheridan

AGDBX - Performance

Return Ranking - Trailing

Period AGDBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.2% -11.3% 201.5% 1.50% 1
1 Yr 9.5% -12.6% 13.8% 1.08% 1
3 Yr 3.1% * -5.9% 8.2% 13.69% 1
5 Yr 6.8% * -3.1% 13.6% 1.75% 1
10 Yr 7.3% * -2.2% 9.5% 0.73% 1

* Annualized


Return Ranking - Calendar

Period AGDBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -10.4% -33.0% 3.0% 65.20% 5
2014 -4.5% -9.3% 14.9% 64.31% 5
2013 -1.3% -24.1% 40.4% 18.17% 2
2012 10.6% -100.0% 18.7% 0.50% 1
2011 -5.1% -20.6% 15.5% 65.62% 5

Total Return Ranking - Trailing

Period AGDBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.2% -9.9% 204.3% 3.94% 1
1 Yr 6.5% -12.6% 16.3% 3.38% 1
3 Yr 2.8% * -7.2% 8.2% 18.94% 1
5 Yr 6.8% * -3.9% 13.6% 1.62% 1
10 Yr 7.3% * -2.2% 9.5% 0.73% 1

* Annualized


Total Return Ranking - Calendar

Period AGDBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -9.5% -32.5% 4.5% 72.77% 5
2014 -2.4% -8.3% 16.8% 71.19% 5
2013 -0.7% -12.9% 58.5% 26.04% 2
2012 11.1% -100.0% 35.2% 8.66% 1
2011 -5.4% -20.7% 18.1% 73.75% 5

NAV & Total Return History

AGDBX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

AGDBX Category Low Category High AGDBX % Rank Quintile
Net Assets 7.41 B 319 K 176 B 3.00% 1
Number of Holdings 1180 1 17569 4.17% 1
Net Assets in Top 10 1.59 B -36 B 36.7 B 3.20% 1
Weighting of Top 10 20.4% 0.0% 1167.9% 21.52% 4

Top 10 Holdings

  1. US Treasury Note 0.875% 7.13%
  2. US Treasury Note 0.875% 4.90%
  3. US Treasury Note 1.25% 3.34%
  4. Turkey(Rep Of) 8.3% 0.73%
  5. Brazil Federative Rep 10% 0.71%
  6. Mexico(Utd Mex St) 6.5% 0.70%
  7. Brazil Federative Rep 10% 0.50%
  8. Brazil Federative Rep 10% 0.49%
  9. US Treasury Bond 6.125% 1.43%
  10. Brazil Federative Rep 6% 0.45%

Asset Allocation

Weighting Category Low Category High AGDBX % Rank Quintile
Bonds
87.62% -175.98% 1241.14% 20.65% 4
Cash
5.88% -1141.94% 275.92% 12.87% 2
Other
4.19% -30.13% 98.36% 4.12% 1
Preferred Stocks
1.39% -0.45% 17.66% 3.05% 1
Convertible Bonds
0.66% 0.00% 12.73% 2.95% 1
Stocks
0.27% -3.27% 98.55% 4.58% 1

Stock Sector Breakdown

Weighting Category Low Category High AGDBX % Rank Quintile
Energy
0.11% -0.88% 10.43% 4.30% 1
Consumer Cyclical
0.10% -0.36% 11.97% 4.75% 1
Technology
0.01% -1.56% 19.47% 5.08% 1
Financial Services
0.01% -0.47% 18.48% 7.84% 2
Utilities
0.00% -0.13% 4.35% 5.41% 5
Healthcare
0.00% -0.69% 11.85% 4.42% 5
Industrials
0.00% -0.83% 11.30% 5.19% 5
Communication Services
0.00% -0.57% 7.99% 3.86% 5
Consumer Defense
0.00% -0.34% 13.63% 4.75% 5
Real Estate
0.00% -0.28% 15.77% 4.64% 5
Basic Materials
0.00% -0.43% 11.11% 5.08% 5

Stock Geographic Breakdown

Weighting Category Low Category High AGDBX % Rank Quintile
US
0.22% -2.63% 92.41% 4.32% 1
Non US
0.05% -1.22% 96.95% 2.85% 1

Bond Sector Breakdown

Weighting Category Low Category High AGDBX % Rank Quintile
Corporate
48.96% 0.00% 221.70% 8.14% 2
Government
27.10% -389.49% 1167.69% 10.89% 2
Securitized
12.06% 0.00% 105.84% 25.13% 5
Cash & Equivalents
5.88% -1141.94% 416.01% 12.87% 2
Municipal
0.21% 0.00% 98.41% 12.87% 3
Derivative
0.00% -513.07% 38.63% 2.49% 4

Bond Geographic Breakdown

Weighting Category Low Category High AGDBX % Rank Quintile
US
61.05% -370.09% 982.00% 24.42% 4
Non US
26.57% -45.82% 351.70% 5.75% 1

AGDBX - Expenses

Operational Fees

AGDBX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.63% 0.00% 42.51% 6.36% 5
Management Fee 0.46% 0.00% 2.15% 2.54% 4
12b-1 Fee 1.00% 0.00% 1.00% 0.08% 5
Administrative Fee N/A 0.00% 0.63% N/A N/A

Sales Fees

AGDBX Fees (% of AUM) Category Low Category High AGDBX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load 3.00% 0.15% 5.50% 1.67% 4

Trading Fees

AGDBX Fees (% of AUM) Category Low Category High AGDBX Rank Quintile
Max Redemption Fee N/A 0.25% 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.

AGDBX Fees (% of AUM) Category Low Category High AGDBX Rank Quintile
Turnover 53.00% 0.00% 1856.00% 12.98% 2

AGDBX - Distributions

Dividend Yield Analysis

AGDBX Category Low Category High AGDBX % Rank Quintile
Dividend Yield 0.5% 0.00% 1.30% 4.71% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

AGDBX Category Low Category High AGDBX % Rank Quintile
Net Income Ratio 4.95% -1.76% 17.13% 1.68% 1

Capital Gain Distribution Analysis

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

AGDBX - Managers

Matthew S. Sheridan

Manager

Start Date

Oct 31, 2005

Tenure

11.09

Tenure Rank

2.4%

Matthew Sheridan is a Senior Vice President and Portfolio Manager at AB, primarily focusing on the Global Multi-Sector Strategy portfolios. He is a member of the Global Fixed Income, Global High Income and Emerging Market Debt portfolio-management teams. Additionally, Sheridan is a member of the Rates and Currency Research Review team and the Emerging Market Debt Research Review team. He joined AB in 1998 and previously worked in the firm’s Structured Asset Securities Group. Sheridan holds a BS in finance from Syracuse University. He is a CFA charterholder. Location: New York


Gershon M. Distenfeld

Manager

Start Date

Feb 01, 2008

Tenure

8.84

Tenure Rank

3.4%

Gershon M. Distenfeld is Senior Vice President and Director of High Yield and Investment-Grade Credit at AB, responsible for overseeing the investment strategy and management of all investment-grade and high-yield corporate bond portfolios and associated portfolio-management teams. Strategies under his purview span the credit and risk spectrum, from short-duration investment-grade corporate bond portfolios to regional and global high-yield portfolios, encompassing a range of investment approaches, objectives and alpha targets, from income-oriented buy-and-hold strategies to active multi-sector total return strategies, and including both publicly traded securities and private placements in developed and emerging markets. Distenfeld also co-manages AB’s award-winning High Income Fund, recently named “Best Fund over 10 Years” by Lipper from 2012 to 2015, and the award-winning Global High Yield and American Income portfolios, flagship fixed-income funds on the firm’s Luxembourg-domiciled fund platform for non-US investors. He also designed and is one of the lead portfolio managers for AB’s Multi-Sector Credit Strategy, which invests across investment-grade and high-yield credit sectors globally. Distenfeld is the author of a number of published papers, including one on high-yield bonds being attractive substitutes for equities and another on the often-misunderstood differences between high-yield bonds and loans. His blog “High Yield Won’t Bubble Over” (January 2013) is one of AB’s all-time most-read blogs. Distenfeld joined AB in 1998 as a fixed-income business analyst, and served as a high-yield trader (1999–2002) and high-yield portfolio manager (2002–2006) before being named Director of High Yield in 2006. He began his career as an operations analyst supporting Emerging Markets Debt at Lehman Brothers. Distenfeld holds a BS in finance from the Sy Syms School of Business at Yeshiva University, and is a CFA charterholder. Location: New York.


Douglas J. Peebles

Manager

Start Date

Aug 30, 2002

Tenure

14.26

Tenure Rank

1.5%

Douglas J. Peebles joined the firm in 1987 and is the Chief Investment Officer of AllianceBernstein Fixed Income. In this role, he supervises all of the Fixed Income portfolio-management and research teams globally. In addition, Peebles is Chairman of the Interest Rates and Currencies Research Review team, which is responsible for setting interest-rate and currency policy for all fixed-income portfolios. He has held several leadership positions within the fixed-income division, having served as director of Global Fixed Income from 1997 to 2004 and then co-head of AllianceBernstein Fixed Income


Marco G. Santamaria

Manager

Start Date

Dec 31, 2010

Tenure

5.92

Tenure Rank

4.9%

Marco Santamaria is a Senior Vice President and Portfolio Manager, focusing on hard-currency emerging-market debt at AB. He is a member of the Emerging Market Debt and Global High Income portfolio-management teams, and a member of the Emerging Market Debt Research Review team. Santamaria plays an integral role in the Hard Currency Emerging Market Debt, core Emerging Market Debt and Investment Grade Emerging Market Debt strategies, as well as the hard-currency emerging-market debt component of the Global High Income portfolios. He originally worked at AB from 1992 to 1994, and then rejoined the firm in 2010. Prior to that, Santamaria was a founding partner at Global Securities Advisors, a fixed-income hedge fund focused on emerging markets. Earlier in his career, he managed the Emerging Markets Sovereign Strategy Research team at Lehman Brothers. Santamaria holds an AB in economics and English from Amherst College and an MA in international economics from Johns Hopkins University School of Advanced International Studies. He is a CFA charterholder. Location: New York


Paul J. DeNoon

Manager

Start Date

Aug 23, 2002

Tenure

14.28

Tenure Rank

1.5%

Paul DeNoon directs all of AB’s investment activities in emerging-market (EM) fixed income and is a senior member of the Global Fixed Income and Absolute Return teams. He oversees a variety of global fixed-income assets and has overall responsibility for all of the firm’s Multi-Sector teams. DeNoon is also Portfolio Manager for the Next 50 Emerging Markets Fund and a member of the EM Multi-Asset Strategy Committee, the Dynamic Asset Allocation Committee and a number of other management committees. Prior to joining the firm in 1992, he was a vice president in the Investment Portfolio Group at Manufacturers Hanover Trust and an economist in the bank’s Financial Markets Research Group, where he was primarily responsible for the analysis of monetary and fiscal policy. DeNoon began his career as a research analyst at Lehman Brothers. He holds a BA in economics from Union College and an MBA in finance from New York University. Location: New York


Tenure Analysis

Category Low

0.0

Category High

27.9

Category Average

6.12

Category Mode

1.9