MISHX: AB Municipal Income Shares - MutualFunds.com
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AB Municipal Income

MISHX - Snapshot

Vitals

  • YTD Return 1.4%
  • 3 Yr Annualized Return 6.0%
  • 5 Yr Annualized Return 5.9%
  • Net Assets $5.77 B
  • Holdings in Top 10 12.3%

52 WEEK LOW AND HIGH

$12.56
$10.17
$12.56

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.01%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Compare MISHX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$14.87

0.00%

$81.84 B

-

$0.00

0.07%

0.17%

$11.27

0.00%

$33.32 B

-

$0.00

0.09%

0.17%

$13.66

+0.07%

$24.55 B

-

$0.00

0.29%

0.52%

$15.95

0.00%

$20.79 B

-

$0.00

0.00%

0.17%

$117.34

+0.21%

$20.43 B

-

-

0.29%

0.07%

MISHX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return 6.0%
  • 5 Yr Annualized Total Return 5.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.67%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AB Municipal Income Shares
  • Fund Family Name
    AllianceBernstein
  • Inception Date
    Sep 01, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Terrance Hults

Fund Description

The fund pursues its objective by investing principally in high-yielding municipal securities that may be non-investment grade or investment grade. It invests, under normal circumstances, at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. The fund will seek to increase income for shareholders by investing in longer-maturity bonds.


MISHX - Performance

Return Ranking - Trailing

Period MISHX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -0.6% 1.5% 0.23%
1 Yr 6.2% -1.0% 10.1% 5.03%
3 Yr 6.0%* -0.4% 9.8% 3.12%
5 Yr 5.9%* -0.3% 7.8% 1.50%
10 Yr 7.2%* -0.1% 10.2% 3.10%

* Annualized

Return Ranking - Calendar

Period MISHX Return Category Return Low Category Return High Rank in Category (%)
2020 2.3% -2.8% 310.0% 21.15%
2019 7.1% -0.3% 15.4% 2.68%
2018 -2.9% -10.3% 97.2% 81.41%
2017 5.4% -100.0% 7.6% 0.76%
2016 -2.1% -7.9% 96.8% 19.87%

Total Return Ranking - Trailing

Period MISHX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -0.6% 1.5% 0.23%
1 Yr 6.2% -5.0% 10.1% 4.63%
3 Yr 6.0%* -2.4% 9.8% 2.88%
5 Yr 5.9%* -1.4% 7.8% 1.38%
10 Yr 7.2%* -0.1% 10.2% 3.03%

* Annualized

Total Return Ranking - Calendar

Period MISHX Return Category Return Low Category Return High Rank in Category (%)
2020 2.3% -2.8% 310.0% 21.15%
2019 7.1% -0.3% 15.4% 2.68%
2018 -2.9% -10.3% 11.0% 81.16%
2017 5.4% -100.0% 7.6% 1.18%
2016 -2.1% -7.9% 3.0% 24.71%

NAV & Total Return History


MISHX - Holdings

Concentration Analysis

MISHX Category Low Category High MISHX % Rank
Net Assets 5.77 B 582 K 81.8 B 5.72%
Number of Holdings 1130 3 10805 7.91%
Net Assets in Top 10 735 M -199 M 4.06 B 1.87%
Weighting of Top 10 12.29% 2.4% 100.0% 76.67%

Top 10 Holdings

  1. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 3.38%
  2. TOBACCO SETTLEMENT FING CORP N J 5% 1.64%
  3. COLORADO HEALTH FACS AUTH REV 5% 1.35%
  4. TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV 5% 1.09%
  5. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 1.00%
  6. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 0.89%
  7. METROPOLITAN PIER & EXPOSITION AUTH ILL REV 5% 0.89%
  8. United States Treasury Bonds 2% 0.86%
  9. Ab Fixed Income Shares, Inc. - Ab Government Money Market Portfolio - Class 0.86%
  10. Ab Fixed Income Shares, Inc. - Ab Government Money Market Portfolio - Class 0.86%

Asset Allocation

Weighting Return Low Return High MISHX % Rank
Bonds
99.54% 15.80% 147.66% 35.76%
Cash
0.46% -47.66% 84.20% 62.52%
Stocks
0.00% 0.00% 2.07% 4.97%
Preferred Stocks
0.00% -0.96% 1.04% 0.45%
Other
0.00% -13.58% 13.72% 3.39%
Convertible Bonds
0.00% 0.00% 1.44% 0.90%

Bond Sector Breakdown

Weighting Return Low Return High MISHX % Rank
Municipal
99.54% 15.02% 100.00% 34.54%
Cash & Equivalents
0.46% 0.00% 84.20% 64.16%
Derivative
0.00% 0.00% 0.85% 0.62%
Securitized
0.00% 0.00% 6.51% 2.71%
Corporate
0.00% 0.00% 15.75% 16.79%
Government
0.00% 0.00% 84.56% 6.56%

Bond Geographic Breakdown

Weighting Return Low Return High MISHX % Rank
US
93.59% 15.80% 141.34% 74.39%
Non US
5.95% 0.00% 28.07% 10.97%

MISHX - Expenses

Operational Fees

MISHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.01% 0.01% 16.95% 100.00%
Management Fee 0.00% 0.00% 1.10% 0.06%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

MISHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

MISHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

MISHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 299.40% 20.03%

MISHX - Distributions

Dividend Yield Analysis

MISHX Category Low Category High MISHX % Rank
Dividend Yield 0.00% 0.00% 2.98% 6.16%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MISHX Category Low Category High MISHX % Rank
Net Income Ratio 3.67% -1.65% 6.48% 5.21%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

MISHX - Fund Manager Analysis

Managers

Terrance Hults


Start Date

Tenure

Tenure Rank

Sep 01, 2010

10.34

10.3%

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

Feb 10, 2016

4.89

4.9%

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

Aug 31, 2020

0.33

0.3%

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
0.06 35.78 6.92 0.16