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Name

As of

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 Municipal Income Fund II Michigan Portfolio

AMIAX |

-

$36 M

-

1.24%

Vitals

YTD Return

N/A

1 yr return

0.2%

3 Yr Avg Return

4.6%

5 Yr Avg Return

2.5%

Net Assets

$36 M

Holdings in Top 10

51.3%

52 WEEK LOW AND HIGH

N/A
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.24%

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

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 Municipal Income Fund II Michigan Portfolio

AMIAX |

-

$36 M

-

1.24%

AMIAX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.21%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AB Municipal Income Fund II Michigan Portfolio
  • Fund Family Name
    AllianceBernstein
  • Inception Date
    Feb 25, 1994
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Fred S. Cohen

Fund Description

AMIAX - Performance

Return Ranking - Trailing

Period AMIAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -2.8% 8.1% N/A
1 Yr 0.2% -4.5% 7.5% N/A
3 Yr 4.6%* -2.2% 2.6% N/A
5 Yr 2.5%* -1.1% 2.3% N/A
10 Yr 3.2%* -1.1% 3.6% N/A

* Annualized

Return Ranking - Calendar

Period AMIAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -7.2% 11.0% N/A
2022 N/A -10.1% 6.8% N/A
2021 N/A -4.9% 0.0% N/A
2020 N/A -5.6% 1.8% N/A
2019 N/A -34.8% 15.6% N/A

Total Return Ranking - Trailing

Period AMIAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -2.8% 8.1% N/A
1 Yr -2.8% -4.5% 7.5% N/A
3 Yr 3.5%* -2.2% 2.6% N/A
5 Yr 1.8%* -1.1% 4.3% N/A
10 Yr 2.9%* -1.1% 5.6% N/A

* Annualized

Total Return Ranking - Calendar

Period AMIAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -7.2% 11.0% N/A
2022 N/A -10.1% 6.9% N/A
2021 N/A -4.9% 1.0% N/A
2020 N/A -5.6% 4.0% N/A
2019 N/A -34.8% 16.3% N/A

AMIAX - Holdings

Concentration Analysis

AMIAX Category Low Category High AMIAX % Rank
Net Assets 36 M 6.42 M 20.6 B N/A
Number of Holdings 32 31 4231 N/A
Net Assets in Top 10 17.9 M 261 K 2.92 B N/A
Weighting of Top 10 51.34% 2.5% 57.1% N/A

Top 10 Holdings

  1. Detroit Mich City Sch Dist 5% 7.23%
  2. Michigan St Bldg Auth 5% 7.15%
  3. Detroit Mich Wtr & Sew Dept Se Rev An 5% 6.13%
  4. Michigan Pub Pwr Agy Rev Rev Bds 5% 5.70%
  5. Oakland Univ Mich Rev Gen Rev B 5% 4.75%
  6. Michigan Fin Auth 5% 4.71%
  7. Atlanta Ga Arpt Rev Airport G 5% 4.01%
  8. Lansing Mich Cmnty College Ltd Go Re 5% 3.96%
  9. Holland Mich Elec Rev Rev Bds 5% 3.96%
  10. Dexter Mich Cmnty Schs Refunding 5% 3.76%

Asset Allocation

Weighting Return Low Return High AMIAX % Rank
Bonds 		100.00% -0.60% 102.82% N/A
Stocks 		0.00% 0.00% 0.24% N/A
Preferred Stocks 		0.00% 0.00% 0.00% N/A
Other 		0.00% -2.39% 8.43% N/A
Convertible Bonds 		0.00% 0.00% 0.00% N/A
Cash 		0.00% -2.82% 92.17% N/A

Bond Sector Breakdown

Weighting Return Low Return High AMIAX % Rank
Municipal 		100.00% 0.00% 103.29% N/A
Derivative 		0.00% -0.20% 0.00% N/A
Cash & Equivalents 		0.00% -2.82% 92.17% N/A
Securitized 		0.00% 0.00% 0.00% N/A
Corporate 		0.00% 0.00% 4.72% N/A
Government 		0.00% -12.23% 5.93% N/A

Bond Geographic Breakdown

Weighting Return Low Return High AMIAX % Rank
US 		100.00% -0.60% 102.38% N/A
Non US 		0.00% 0.00% 22.38% N/A

AMIAX - Expenses

Operational Fees

AMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.24% 0.09% 2.11% N/A
Management Fee 0.45% 0.08% 1.30% N/A
12b-1 Fee 0.25% 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.33% N/A

Sales Fees

AMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 1.00% 5.75% N/A
Deferred Load N/A 0.50% 5.00% N/A

Trading Fees

AMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

AMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 3.00% 293.00% N/A

AMIAX - Distributions

Dividend Yield Analysis

AMIAX Category Low Category High AMIAX % Rank
Dividend Yield 0.00% 0.00% 3.02% N/A

Dividend Distribution Analysis

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

Net Income Ratio Analysis

AMIAX Category Low Category High AMIAX % Rank
Net Income Ratio 3.21% -0.21% 4.62% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

AMIAX - Fund Manager Analysis

Managers

Fred S. Cohen

Start Date

Tenure

Tenure Rank

Dec 31, 2002

14.01

14.0%

Cohen is a senior vice president of AllianceBernstein with which he has been associated since prior to 2002.

Robert B. (Guy) Davidson

Start Date

Tenure

Tenure Rank

Dec 31, 2002

14.01

14.0%

R. B. Davidson III joined Bernstein as Director of Municipal Bonds in 1992 and retained that responsibility after Bernstein’s and Alliance Capital’s fixed-income departments were combined. He is Chairman of the Tax-Exempt Fixed Income Investment Policy Group and a member of the Taxable Fixed Income Investment Policy Group. Davidson also serves on the partnership committee at AllianceBernstein as well as on the Investment Advisory Group to the Municipal Securities Rulemaking Board. Before joining Bernstein, he was vice president and head of municipal strategies at J.P. Morgan Securities and an associate economist at Lehman Brothers. He is the author of “The Value of Tax Management for Bond Portfolios,” published in The Journal of Private Portfolio Management, Spring 1999; “Maximizing Expected After-Tax Returns,” published by Probus in 1994 in the Handbook of Municipal Bonds; and “Analyzing Quality Spreads,” published in The Municipal Finance Journal in 1991. Davidson was named to the Institutional Investor All-America Research Team in 1992. He earned a BA from Wesleyan University in 1983 and an MBA from the New York University Stern School of Business in 1991.

Matthew J Norton

Start Date

Tenure

Tenure Rank

Jan 28, 2016

0.93

0.9%

Matthew Norton is a Portfolio Manager on the Municipal Bond team, which overseas tax-exempt investing at AB. He joined the firm in 2005, focusing primarily on research in tax-exempt and taxable fixed-income markets. In this role, Norton worked on building expected return models across fixed-income sectors and on monitoring derivative exposures. Before joining AB, he worked for a year as a statistical research analyst at St. Lawrence University, evaluating the accuarcy of biometric devices. Norton holds a BS in economics and mathematics from St. Lawrence University and an MBA in economics and quantitative finance from New York University Stern School of Business. Location: New York

Terrance T. Hults

Start Date

Tenure

Tenure Rank

Jun 01, 1995

21.6

21.6%

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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.0 39.77 9.01 1.5

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