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Name

As of 12/20/2024

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 Minnesota Portfolio

AMNAX | Fund

$9.53

$30.3 M

2.77%

$0.26

1.57%

Vitals

YTD Return

1.9%

1 yr return

2.1%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

0.6%

Net Assets

$30.3 M

Holdings in Top 10

40.4%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.57%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 5.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$2,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/20/2024

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 Minnesota Portfolio

AMNAX | Fund

$9.53

$30.3 M

2.77%

$0.26

1.57%

AMNAX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.07%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AB Minnesota Portfolio
  • Fund Family Name
    ALLIANCEBE
  • Inception Date
    Feb 27, 1997
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Terrance Hults

Fund Description

The Portfolio pursues its objective by investing principally in high-yielding, predominantly investment grade municipal securities. As a matter of fundamental policy, the Portfolio 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. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities of Minnesota or municipal securities with interest that is otherwise exempt from Minnesota state income tax.
The Portfolio may also invest in:
•
forward commitments;
•
zero-coupon municipal securities and variable, floating and inverse floating-rate municipal securities; and
•
derivatives, such as options, futures contracts, forwards and swaps.
Read More

AMNAX - Performance

Return Ranking - Trailing

Period AMNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -7.4% 36.1% 34.45%
1 Yr 2.1% -7.4% 36.4% 34.92%
3 Yr -1.0%* -12.1% 5.2% 53.35%
5 Yr 0.6%* -7.5% 1102.9% 47.72%
10 Yr 1.7%* -1.1% 248.8% 40.59%

* Annualized

Return Ranking - Calendar

Period AMNAX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -1.4% 41.0% 81.95%
2022 -10.7% -39.7% 0.3% 40.41%
2021 -0.4% -5.6% 6.9% 45.50%
2020 1.7% -2.6% 310.0% 48.32%
2019 3.7% 0.0% 26.0% 54.50%

Total Return Ranking - Trailing

Period AMNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -7.4% 36.1% 34.45%
1 Yr 2.1% -7.4% 36.4% 34.92%
3 Yr -1.0%* -12.1% 5.2% 53.35%
5 Yr 0.6%* -7.5% 1102.9% 47.72%
10 Yr 1.7%* -1.1% 248.8% 40.59%

* Annualized

Total Return Ranking - Calendar

Period AMNAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% -1.3% 41.0% 76.97%
2022 -8.4% -39.7% 1.1% 39.39%
2021 1.9% -4.8% 23761504.0% 41.44%
2020 4.7% -1.5% 17057.9% 23.18%
2019 6.7% 0.2% 3514.6% 47.52%

NAV & Total Return History

AMNAX - Holdings

Concentration Analysis

AMNAX Category Low Category High AMNAX % Rank
Net Assets 30.3 M 3.22 M 71.9 B 96.71%
Number of Holdings 66 4 13418 95.10%
Net Assets in Top 10 12.5 M -317 M 3.09 B 93.82%
Weighting of Top 10 40.42% 1.8% 100.3% 5.11%

Top 10 Holdings

  1. ANOKA-HENNEPIN MN INDEP SCH DIST #11 COPS 5.51%
  2. SAINT PAUL MN HSG REDEV AUTH 5.38%
  3. MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE 4.97%
  4. CLOQUET MN INDEP SCH DIST #94 3.93%
  5. MINNESOTA ST HGR EDU FACS AUTH REVENUE 3.60%
  6. MINNEAPOLIS MN HLTH CARE SYS REVENUE 3.49%
  7. MINNEAPOLIS MN SPL SCH DIST #1 3.41%
  8. HERMANTOWN MN 3.41%
  9. STHRN MINNESOTA ST MUNI PWR AGY PWR SPLY SYS REVENUE 3.38%
  10. MINNEAPOLIS MN HLTH CARE SYS REVENUE 3.35%

Asset Allocation

Weighting Return Low Return High AMNAX % Rank
Bonds 		97.64% 0.00% 150.86% 74.03%
Cash 		4.81% -50.86% 44.62% 9.54%
Other 		2.07% -3.69% 53.54% 2.69%
Stocks 		0.00% 0.00% 99.77% 48.79%
Preferred Stocks 		0.00% 0.00% 0.07% 39.22%
Convertible Bonds 		0.00% 0.00% 0.93% 38.64%

Bond Sector Breakdown

Weighting Return Low Return High AMNAX % Rank
Municipal 		94.77% 44.39% 100.00% 83.48%
Cash & Equivalents 		4.81% 0.00% 44.41% 7.79%
Derivative 		2.07% -3.69% 53.54% 1.34%
Securitized 		0.00% 0.00% 5.93% 39.38%
Corporate 		0.00% 0.00% 9.41% 49.16%
Government 		0.00% 0.00% 52.02% 42.41%

Bond Geographic Breakdown

Weighting Return Low Return High AMNAX % Rank
US 		97.64% 0.00% 142.23% 71.46%
Non US 		0.00% 0.00% 23.89% 43.18%

AMNAX - Expenses

Operational Fees

AMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.57% 0.01% 8.02% 11.69%
Management Fee 0.45% 0.00% 1.20% 57.32%
12b-1 Fee 0.25% 0.00% 1.00% 45.95%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

AMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 0.50% 4.75% 65.80%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

AMNAX 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.

AMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.00% 0.00% 283.00% 4.76%

AMNAX - Distributions

Dividend Yield Analysis

AMNAX Category Low Category High AMNAX % Rank
Dividend Yield 2.77% 0.00% 14.51% 75.97%

Dividend Distribution Analysis

AMNAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

AMNAX Category Low Category High AMNAX % Rank
Net Income Ratio 2.07% -0.53% 5.33% 43.78%

Capital Gain Distribution Analysis

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

Distributions History

View More +

AMNAX - Fund Manager Analysis

Managers

Terrance Hults

Start Date

Tenure

Tenure Rank

Jun 01, 1995

27.02

27.0%

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. Mr. Hults received a BA in economics from Williams College and an MBA in finance from Columbia University. Location: New York

Matthew Norton

Start Date

Tenure

Tenure Rank

Jan 28, 2016

6.34

6.3%

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

Andrew Potter

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

Andrew Potter is a Vice President and Portfolio Manager on the Municipal Bond team, which oversees tax-exempt investing at AllianceBernstein. He joined the team in 2007 as an associate portfolio manager (APM), responsible for monitoring risk exposures and implementing investment strategy across the firm’s tax-aware fixed-income platform. In 2013, Mr. Potter took on additional responsibility as supervisor for the team’s APMs. He moved into his current role in 2015, shifting his focus toward developing portfolio strategy. Mr. Potter holds a BA in physics with a minor in economics from Colgate University. He is a CFA charterholder and a member of the CFA Society New York. Location: New York

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58

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