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Name

As of 04/25/2024

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

AllianceBernstein National Municipal Income FundInc National Municipal Income Fund

XAFBX | Fund

$12.16

$377 M

0.00%

1.56%

Vitals

YTD Return

-4.9%

1 yr return

-2.1%

3 Yr Avg Return

-7.8%

5 Yr Avg Return

-3.7%

Net Assets

$377 M

Holdings in Top 10

17.4%

52 WEEK LOW AND HIGH

$12.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 5.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Closed-end mutual fund

Name

As of 04/25/2024

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

AllianceBernstein National Municipal Income FundInc National Municipal Income Fund

XAFBX | Fund

$12.16

$377 M

0.00%

1.56%

XAFBX - Profile

Distributions

  • YTD Total Return -4.9%
  • 3 Yr Annualized Total Return -7.8%
  • 5 Yr Annualized Total Return -3.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.08%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AllianceBernstein National Municipal Income FundInc National Municipal Income Fund
  • Fund Family Name
    AllianceBernstein L.P.
  • Inception Date
    Feb 22, 2002
  • Shares Outstanding
    28744936
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Terrance Hults

Fund Description

XAFBX - Performance

Return Ranking - Trailing

Period XAFBX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.9% -5.5% 7.2% 99.68%
1 Yr -2.1% -5.8% 31.1% 97.40%
3 Yr -7.8%* -11.6% 2.6% 97.41%
5 Yr -3.7%* -6.4% 1101.7% 97.57%
10 Yr 0.8%* -0.5% 248.1% 87.06%

* Annualized

Return Ranking - Calendar

Period XAFBX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -1.4% 41.0% 1.11%
2022 -21.2% -39.7% 0.3% 97.23%
2021 -0.6% -5.6% 6.9% 51.66%
2020 1.3% -2.6% 310.0% 69.31%
2019 7.0% 0.0% 26.0% 3.13%

Total Return Ranking - Trailing

Period XAFBX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.9% -5.5% 7.2% 99.68%
1 Yr -2.1% -5.8% 31.1% 97.40%
3 Yr -7.8%* -11.6% 2.6% 97.41%
5 Yr -3.7%* -6.4% 1101.7% 97.57%
10 Yr 0.8%* -0.5% 248.1% 87.06%

* Annualized

Total Return Ranking - Calendar

Period XAFBX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -1.3% 41.0% 46.65%
2022 -21.2% -39.7% 1.1% 97.36%
2021 -0.6% -4.8% 23761504.0% 95.82%
2020 1.3% -1.5% 17057.9% 94.37%
2019 9.0% 0.2% 3514.6% 6.75%

NAV & Total Return History

XAFBX - Holdings

Concentration Analysis

XAFBX Category Low Category High XAFBX % Rank
Net Assets 377 M 3.22 M 71.9 B 54.15%
Number of Holdings 189 2 13067 60.78%
Net Assets in Top 10 114 M -317 M 3.56 B 37.80%
Weighting of Top 10 17.38% 2.0% 100.4% 54.02%

Top 10 Holdings

  1. METROPOLITAN TRANSN AUTH N Y DEDICATED TAX FD 5.25% 2.43%
  2. CONNECTICUT ST SPL TAX OBLIG REV 5% 2.16%
  3. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  4. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  5. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  6. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  7. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  8. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  9. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%
  10. Ab Fixed Income Shares, Inc. - Government Money Market Portfolio - Class Ab 1.80%

Asset Allocation

Weighting Return Low Return High XAFBX % Rank
Bonds 		99.88% 0.00% 150.86% 14.55%
Cash 		0.12% -50.86% 50.09% 86.41%
Stocks 		0.00% 0.00% 99.81% 91.46%
Preferred Stocks 		0.00% 0.00% 0.52% 90.81%
Other 		0.00% -3.18% 33.35% 85.95%
Convertible Bonds 		0.00% 0.00% 0.93% 90.77%

Bond Sector Breakdown

Weighting Return Low Return High XAFBX % Rank
Municipal 		99.88% 44.39% 100.00% 17.74%
Cash & Equivalents 		0.12% 0.00% 48.02% 50.68%
Derivative 		0.00% -3.18% 23.38% 85.37%
Securitized 		0.00% 0.00% 5.93% 91.49%
Corporate 		0.00% 0.00% 9.41% 91.75%
Government 		0.00% 0.00% 52.02% 91.49%

Bond Geographic Breakdown

Weighting Return Low Return High XAFBX % Rank
US 		99.36% 0.00% 142.23% 23.37%
Non US 		0.52% 0.00% 23.89% 8.41%

XAFBX - Expenses

Operational Fees

XAFBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.56% 0.01% 20.65% 12.31%
Management Fee 0.55% 0.00% 1.20% 95.54%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

XAFBX 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

XAFBX 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.

XAFBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.00% 0.00% 283.00% 6.69%

XAFBX - Distributions

Dividend Yield Analysis

XAFBX Category Low Category High XAFBX % Rank
Dividend Yield 0.00% 0.00% 14.58% 97.80%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

XAFBX Category Low Category High XAFBX % Rank
Net Income Ratio 4.08% -0.53% 5.33% 2.95%

Capital Gain Distribution Analysis

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

Distributions History

View More +

XAFBX - Fund Manager Analysis

Managers

Terrance Hults

Start Date

Tenure

Tenure Rank

Jan 29, 2002

20.35

20.4%

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

Mar 21, 2022

0.19

0.2%

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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.37 1.58

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