Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

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 Pennsylvania Portfolio

APAAX | Fund

$9.77

$47.3 M

3.26%

$0.32

1.36%

Vitals

YTD Return

3.7%

1 yr return

7.8%

3 Yr Avg Return

-0.6%

5 Yr Avg Return

1.2%

Net Assets

$47.3 M

Holdings in Top 10

32.8%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.36%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 12.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$2,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 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 Pennsylvania Portfolio

APAAX | Fund

$9.77

$47.3 M

3.26%

$0.32

1.36%

APAAX - Profile

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return -0.6%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.64%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AB Pennsylvania Portfolio
  • Fund Family Name
    ALLIANCEBE
  • Inception Date
    Feb 24, 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 Pennsylvania or municipal securities with interest that is otherwise exempt from Pennsylvania 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

APAAX - Performance

Return Ranking - Trailing

Period APAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -4.6% 33.0% 7.73%
1 Yr 7.8% -0.1% 38.0% 21.92%
3 Yr -0.6%* -10.8% 3.4% 56.27%
5 Yr 1.2%* -6.7% 1104.0% 27.56%
10 Yr 2.2%* -0.9% 248.8% 21.00%

* Annualized

Return Ranking - Calendar

Period APAAX Return Category Return Low Category Return High Rank in Category (%)
2023 1.0% -1.4% 41.0% 94.52%
2022 -11.8% -39.7% 0.3% 52.51%
2021 0.5% -5.6% 6.9% 16.30%
2020 1.7% -2.6% 310.0% 50.94%
2019 3.9% 0.0% 26.0% 44.29%

Total Return Ranking - Trailing

Period APAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -4.6% 33.0% 7.73%
1 Yr 7.8% -0.1% 38.0% 21.92%
3 Yr -0.6%* -10.8% 3.4% 56.27%
5 Yr 1.2%* -6.7% 1104.0% 27.56%
10 Yr 2.2%* -0.9% 248.8% 21.00%

* Annualized

Total Return Ranking - Calendar

Period APAAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -1.3% 41.0% 75.75%
2022 -9.1% -39.7% 1.1% 47.29%
2021 3.2% -4.8% 23761504.0% 14.12%
2020 4.9% -1.5% 17057.9% 18.49%
2019 7.3% 0.2% 3514.6% 28.50%

NAV & Total Return History

APAAX - Holdings

Concentration Analysis

APAAX Category Low Category High APAAX % Rank
Net Assets 47.3 M 3.22 M 71.9 B 94.47%
Number of Holdings 89 4 13418 89.14%
Net Assets in Top 10 16.1 M -317 M 3.09 B 91.01%
Weighting of Top 10 32.85% 1.8% 100.3% 9.60%

Top 10 Holdings

  1. CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV 5.47%
  2. PHILADELPHIA PA AUTH FOR INDL DEV UNIV REVENUE 4.44%
  3. PITTSBURGH PA WTR SWR AUTH 3.99%
  4. ALLEGHENY CNTY PA HOSP DEV AUTH 3.42%
  5. DELAWARE CNTY PA AUTH 3.33%
  6. PHILADELPHIA PA ENERGY AUTH 2.73%
  7. PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE 2.64%
  8. MONTGOMERY CNTY PA HGR EDU HLTH AUTH 2.30%
  9. PHILADELPHIA PA SCH DIST 2.28%
  10. PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV 2.27%

Asset Allocation

Weighting Return Low Return High APAAX % Rank
Bonds 		99.03% 0.00% 150.86% 48.80%
Cash 		1.77% -50.86% 44.62% 33.71%
Other 		0.44% -3.69% 51.88% 5.20%
Stocks 		0.02% 0.00% 99.78% 12.32%
Preferred Stocks 		0.00% 0.00% 0.07% 64.02%
Convertible Bonds 		0.00% 0.00% 0.93% 63.55%

Stock Sector Breakdown

Weighting Return Low Return High APAAX % Rank
Utilities 		0.00% 0.00% 0.00% N/A
Technology 		0.00% 0.00% 0.00% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 100.00% N/A
Healthcare 		0.00% 0.00% 0.00% N/A
Financial Services 		0.00% 0.00% 0.00% N/A
Energy 		0.00% 0.00% 0.00% N/A
Communication Services 		0.00% 0.00% 100.00% N/A
Consumer Defense 		0.00% 0.00% 0.00% N/A
Consumer Cyclical 		0.00% 0.00% 100.00% N/A
Basic Materials 		0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High APAAX % Rank
US 		0.02% 0.00% 99.78% 12.33%
Non US 		0.00% -0.03% 9.76% 63.49%

Bond Sector Breakdown

Weighting Return Low Return High APAAX % Rank
Municipal 		98.41% 44.39% 100.00% 49.36%
Cash & Equivalents 		1.77% 0.00% 44.41% 20.65%
Derivative 		0.44% -3.69% 51.88% 3.46%
Securitized 		0.00% 0.00% 5.93% 64.28%
Corporate 		0.00% 0.00% 9.41% 70.30%
Government 		0.00% 0.00% 52.02% 67.22%

Bond Geographic Breakdown

Weighting Return Low Return High APAAX % Rank
US 		99.03% 0.00% 142.23% 46.77%
Non US 		0.00% 0.00% 23.89% 65.96%

APAAX - Expenses

Operational Fees

APAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.36% 0.01% 8.02% 20.20%
Management Fee 0.45% 0.00% 1.20% 59.79%
12b-1 Fee 0.25% 0.00% 1.00% 53.11%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

APAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 0.50% 4.75% 69.54%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

APAAX 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.

APAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 283.00% 30.43%

APAAX - Distributions

Dividend Yield Analysis

APAAX Category Low Category High APAAX % Rank
Dividend Yield 3.26% 0.00% 14.51% 34.49%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

APAAX Category Low Category High APAAX % Rank
Net Income Ratio 2.64% -0.53% 5.33% 14.50%

Capital Gain Distribution Analysis

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

Distributions History

View More +

APAAX - 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 7.35 1.58

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.