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Name

As of 11/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AB Impact Municipal Income Shares

ABIMX | Fund

$9.90

$577 M

3.89%

$0.38

-

Vitals

YTD Return

4.1%

1 yr return

10.2%

3 Yr Avg Return

0.0%

5 Yr Avg Return

1.9%

Net Assets

$577 M

Holdings in Top 10

15.2%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio N/A

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AB Impact Municipal Income Shares

ABIMX | Fund

$9.90

$577 M

3.89%

$0.38

-

ABIMX - Profile

Distributions

  • YTD Total Return 4.1%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 1.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.88%
DIVIDENDS
  • Dividend Yield 3.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AB Impact Municipal Income Shares
  • Fund Family Name
    ALLIANCEBE
  • Inception Date
    Sep 12, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Norton

Fund Description

The Fund pursues its objective by investing principally in high-yielding municipal securities of any credit quality that (i) score highly on the Adviser’s environmental, social and governance (“ESG”) criteria and (ii) are deemed by the Adviser to have an environmental or social impact in underserved or low socio-economic communities. As a matter of fundamental policy, the Fund invests, under normal circumstances, 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.
The Adviser evaluates each security in which the Fund invests using both a traditional municipal bond credit analysis and a consideration of the security’s overall ESG score under the Adviser’s ESG evaluation criteria. Under this ESG evaluation, to arrive at an overall ESG score, each security is scored on environmental, social and governance factors, and the scores are weighted based on the Adviser’s assessment of the relevance of each factor within a given sector (e.g., education, health care, renewable energy and mass transit). For example, social factors are weighted more heavily in the overall ESG score for a security of an issuer in the education sector than they are for a security of an issuer in the mass transit sector, where environmental factors predominate. The Adviser regularly reviews the overall ESG scores assigned to securities under consideration for purposes of determining the securities in which to invest for the Fund.
The Adviser’s ESG evaluation is conducted on an industry sector basis and includes the use of key performance indicators that vary in materiality by sector. The Adviser’s environmental evaluation covers issues such as clean and renewable energy, climate change and water conservation. The Adviser’s social evaluation covers issues such as economic impact, high quality safety‑net healthcare and overall community health needs, and the reduction of achievement gaps between wealthy and poor school districts. The Adviser’s governance evaluation covers issues such as stewardship of debt and capital, board governance and transparency.
The Adviser also assesses a security’s risk and return characteristics as well as a security’s impact on the overall risk and return characteristics of the Fund. In making this assessment, the Adviser takes into account various factors including the credit quality, maturity, sensitivity to interest rates and the expected after‑tax returns of the security under consideration and of the Fund’s other holdings.
The Fund may invest without limit in lower-rated securities (“junk bonds”), which may include securities having the lowest rating, and in unrated securities that, in the Adviser’s judgment, would be lower-rated securities if rated. The Fund may invest in fixed-income securities with any maturity or duration. The Fund will seek to increase income for shareholders by investing in longer-maturity bonds. Consistent with its objective of seeking a higher level of income, the Fund may experience greater volatility and a higher risk of loss of principal than other municipal funds.
The Fund may also invest in:
•
tender option bond transactions (“TOBs”);
•
forward commitments;
•
zero‑coupon municipal securities and variable, floating and inverse floating-rate municipal securities;
•
certain types of mortgage-related securities; and
•
derivatives, such as options, futures contracts, forwards and swaps.
The Fund may make short sales of securities or maintain a short position, and may use other investment techniques. The Fund may use leverage for investment purposes to increase income through the use of TOBs and derivative instruments, such as interest rate swaps.
Read More

ABIMX - Performance

Return Ranking - Trailing

Period ABIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -4.6% 33.0% 6.13%
1 Yr 10.2% -0.1% 38.0% 3.06%
3 Yr 0.0%* -10.8% 3.4% 32.81%
5 Yr 1.9%* -6.7% 1104.0% 4.88%
10 Yr N/A* -0.9% 248.8% N/A

* Annualized

Return Ranking - Calendar

Period ABIMX Return Category Return Low Category Return High Rank in Category (%)
2023 5.0% -1.4% 41.0% 2.81%
2022 -15.1% -39.7% 0.3% 88.69%
2021 1.7% -5.6% 6.9% 3.34%
2020 2.7% -2.6% 310.0% 10.84%
2019 7.1% 0.0% 26.0% 2.64%

Total Return Ranking - Trailing

Period ABIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -4.6% 33.0% 6.13%
1 Yr 10.2% -0.1% 38.0% 3.06%
3 Yr 0.0%* -10.8% 3.4% 32.81%
5 Yr 1.9%* -6.7% 1104.0% 4.88%
10 Yr N/A* -0.9% 248.8% N/A

* Annualized

Total Return Ranking - Calendar

Period ABIMX Return Category Return Low Category Return High Rank in Category (%)
2023 9.2% -1.3% 41.0% 1.20%
2022 -12.1% -39.7% 1.1% 85.98%
2021 4.5% -4.8% 23761504.0% 4.37%
2020 6.1% -1.5% 17057.9% 5.70%
2019 11.0% 0.2% 3514.6% 1.36%

NAV & Total Return History

ABIMX - Holdings

Concentration Analysis

ABIMX Category Low Category High ABIMX % Rank
Net Assets 577 M 3.22 M 71.9 B 44.27%
Number of Holdings 261 4 13418 45.84%
Net Assets in Top 10 89.1 M -317 M 3.09 B 48.03%
Weighting of Top 10 15.21% 1.8% 100.3% 63.40%

Top 10 Holdings

  1. MET TRANSPRTN AUTH NY REVENUE 3.06%
  2. NEW JERSEY ST ECON DEV AUTH REV 1.95%
  3. MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE 1.43%
  4. CALIFORNIA ST MUNI FIN AUTH REVENUE 1.33%
  5. CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE 1.31%
  6. PUBLIC FIN AUTH WI HLTHCARE FACS REVENUE 1.29%
  7. MET TRANSPRTN AUTH NY REVENUE 1.28%
  8. MASSACHUSETTS ST DEV FIN AGY REVENUE 1.27%
  9. BUILD NYC RESOURCE CORP NY REVENUE 1.25%
  10. MET TRANSPRTN AUTH NY REVENUE 1.05%

Asset Allocation

Weighting Return Low Return High ABIMX % Rank
Bonds 		97.75% 0.00% 150.86% 73.17%
Cash 		1.75% -50.86% 44.62% 33.78%
Other 		0.50% -3.69% 51.88% 4.66%
Stocks 		0.00% 0.00% 99.78% 15.78%
Preferred Stocks 		0.00% 0.00% 0.07% 49.23%
Convertible Bonds 		0.00% 0.00% 0.93% 48.03%

Bond Sector Breakdown

Weighting Return Low Return High ABIMX % Rank
Municipal 		93.58% 44.39% 100.00% 86.56%
Corporate 		2.50% 0.00% 9.41% 0.60%
Cash & Equivalents 		0.96% 0.00% 44.41% 30.11%
Derivative 		0.50% -3.69% 51.88% 3.20%
Securitized 		0.00% 0.00% 5.93% 48.49%
Government 		0.00% 0.00% 52.02% 51.37%

Bond Geographic Breakdown

Weighting Return Low Return High ABIMX % Rank
US 		97.75% 0.00% 142.23% 70.69%
Non US 		0.00% 0.00% 23.89% 5.06%

ABIMX - Expenses

Operational Fees

ABIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.01% 8.02% 99.54%
Management Fee 0.00% 0.00% 1.20% 0.07%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

ABIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

ABIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

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.

ABIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 0.00% 283.00% 36.46%

ABIMX - Distributions

Dividend Yield Analysis

ABIMX Category Low Category High ABIMX % Rank
Dividend Yield 3.89% 0.00% 14.51% 9.85%

Dividend Distribution Analysis

ABIMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

ABIMX Category Low Category High ABIMX % Rank
Net Income Ratio 2.88% -0.53% 5.33% 8.50%

Capital Gain Distribution Analysis

ABIMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

ABIMX - Fund Manager Analysis

Managers

Matthew Norton

Start Date

Tenure

Tenure Rank

Sep 12, 2017

4.72

4.7%

Matthew Norton is a Senior Vice President and Co-Head of Municipal Portfolio Management, responsible for overseeing municipal bond investing at AB. He is also a member of the Municipal Impact Investment Policy Group. Previously, Mr. Norton was a portfolio manager on the Municipal Bond team. He joined AB in 2005, focusing primarily on research in tax-exempt and taxable fixed-income markets. Prior to joining the firm, Mr. Norton worked as a statistical research analyst at St. Lawrence University, evaluating the accuracy of biometric devices. He holds a BS in economics and mathematics from St. Lawrence University and an MBA in economics and quantitative finance from the Leonard N. Stern School of Business at New York University. Location: New York

Marc Uy

Start Date

Tenure

Tenure Rank

Oct 06, 2021

0.65

0.7%

Marc Uy is a Vice President and Portfolio Manager for AB’s Municipal Impact products. He joined the firm in 2004 as a member of the trading and technical team. In 2011, he was promoted to Associate Portfolio Manager covering municipal fixed income portfolios where he focused on implementing investment strategies and monitoring risk exposures across AB's municipal platform. In 2018, he was advanced to his current role where he focuses on ESG portfolio strategy and research. Marc holds a BS in Business Management with concentrations in Finance, Economics and Chinese Cultural Studies from Babson College. Location: New York

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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