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Name

As of 06/02/2026

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

Diversified Municipal Portfolio

AIDAX | Fund

$14.03

$5.29 B

2.82%

$0.39

0.67%

Vitals

YTD Return

1.2%

1 yr return

5.5%

3 Yr Avg Return

3.6%

5 Yr Avg Return

1.3%

Net Assets

$5.29 B

Holdings in Top 10

7.0%

52 WEEK LOW AND HIGH

$14.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.67%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 22.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$2,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/02/2026

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

Diversified Municipal Portfolio

AIDAX | Fund

$14.03

$5.29 B

2.82%

$0.39

0.67%

AIDAX - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return 3.6%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.69%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Diversified Municipal Portfolio
  • Fund Family Name
    ALLIANCEBE
  • Inception Date
    May 06, 2002
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Terrance Hults

Fund Description

As a matter of fundamental policy, the Portfolio, under normal circumstances, invests at least 80% of its net assets in municipal securities. For purposes of this policy, net assets include any borrowings for investment purposes. The Portfolio invests no more than 25% of its total assets in municipal securities of issuers located in any one state.
The municipal securities in which the Portfolio may invest are issued to raise money for a variety of public or private purposes, including general financing for state and local governments, the District of Columbia or possessions and territories of the United States, or financing for specific projects or public facilities. The interest paid on these securities is generally exempt from U.S. federal income tax, although in certain instances, it may be includable in income subject to alternative minimum tax.
The Portfolio invests at least 80% of its total assets in municipal securities rated A or better by nationally recognized statistical rating organizations (“NRSROs”) (or, if unrated, determined by AllianceBernstein L.P., the Portfolio’s investment manager (the “Manager”), to be of comparable quality) and comparably rated municipal notes. The Portfolio may invest up to 20% of its total assets in below investment grade fixed-income securities (commonly known as “junk bonds”).
The Portfolio may invest, without limit, in revenue bonds, which generally do not have the pledge of the credit of the issuer. The Portfolio may invest, without limit, in securities or obligations that are related in such a way that business or political developments or changes affecting one such security could also affect the others (for example, securities with interest that is paid from projects of a similar type).
The Portfolio may also invest up to 20% of its net assets in fixed-income securities of U.S. issuers that are not municipal securities if, in the Manager’s opinion, these securities will enhance the after‑tax return for Portfolio investors.
The Portfolio may use derivatives, such as options, futures contracts, forward contracts and swaps.
In managing the Portfolio, the Manager may use interest rate forecasting to estimate an appropriate level of interest rate risk at a given time.
The Portfolio seeks to maintain an effective duration of three and one‑half years to seven years under normal market conditions. Duration is a measure that relates the expected price volatility of a security to changes in interest rates. The duration of a debt security is the weighted average term to maturity, expressed in years, of the present value of all future cash flows, including coupon payments and principal repayments.
Within the range described above, the Manager may moderately shorten the average duration of the Portfolio when it expects interest rates to rise and moderately lengthen average duration when it anticipates that interest rates will fall.
The Manager selects securities for purchase or sale based on its assessment of the securities’ risk and return characteristics as well as the securities’ impact on the overall risk and return characteristics of the Portfolio. In making this assessment, the Manager takes into account various factors including the credit quality and sensitivity to interest rates of the securities under consideration and of the Portfolio’s other holdings.
Read More

AIDAX - Performance

Return Ranking - Trailing

Period AIDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -0.8% 14.7% 59.11%
1 Yr 5.5% 1.9% 27.1% 68.61%
3 Yr 3.6%* 1.1% 23.8% 40.53%
5 Yr 1.3%* -3.5% 7.1% 16.36%
10 Yr 1.8%* 0.1% 250.2% 38.69%

* Annualized

Return Ranking - Calendar

Period AIDAX Return Category Return Low Category Return High Rank in Category (%)
2025 1.3% -26.4% 12.1% 18.85%
2024 -0.8% -6.2% 34.9% 34.55%
2023 2.3% -1.4% 41.0% 67.17%
2022 -7.8% -39.7% 0.3% 18.08%
2021 -0.4% -5.6% 55.0% 47.30%

Total Return Ranking - Trailing

Period AIDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -0.8% 14.7% 59.11%
1 Yr 5.5% 1.9% 27.1% 68.61%
3 Yr 3.6%* 1.1% 23.8% 40.53%
5 Yr 1.3%* -3.5% 7.1% 16.36%
10 Yr 1.8%* 0.1% 250.2% 38.69%

* Annualized

Total Return Ranking - Calendar

Period AIDAX Return Category Return Low Category Return High Rank in Category (%)
2025 4.4% -2.1% 17.0% 25.73%
2024 2.1% -1.8% 34.9% 52.62%
2023 4.9% 2.1% 41.0% 71.62%
2022 -5.9% -39.7% 1.1% 17.43%
2021 1.2% -4.8% 23761504.0% 63.96%

NAV & Total Return History

AIDAX - Holdings

Concentration Analysis

AIDAX Category Low Category High AIDAX % Rank
Net Assets 5.29 B 4.18 M 87.7 B 7.11%
Number of Holdings 1126 4 15641 9.12%
Net Assets in Top 10 368 M -317 M 4.4 B 10.84%
Weighting of Top 10 6.96% 1.2% 130.7% 92.16%

Top 10 Holdings

  1. PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE 1.01%
  2. TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE 0.85%
  3. SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 0.84%
  4. NEW JERSEY ST TRANSPRTN TRUST FUND AUTH 0.77%
  5. MIAMI-DADE CNTY FL AVIATION REVENUE 0.66%
  6. COLORADO ST EDUC LOAN PROGRAM 0.65%
  7. MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE 0.57%
  8. ILLINOIS ST TOLL HIGHWAY AUTH 0.54%
  9. PRIV CLGS UNIVS AUTH GA 0.53%
  10. OYSTER BAY NY 0.53%

Asset Allocation

Weighting Return Low Return High AIDAX % Rank
Bonds 		99.14% 0.00% 150.86% 33.69%
Cash 		0.78% -50.86% 43.00% 67.48%
Other 		0.09% -1.59% 51.23% 6.17%
Stocks 		0.00% 0.00% 100.20% 19.14%
Preferred Stocks 		0.00% 0.00% 0.07% 6.60%
Convertible Bonds 		0.00% 0.00% 0.93% 5.84%

Bond Sector Breakdown

Weighting Return Low Return High AIDAX % Rank
Municipal 		96.31% 44.39% 100.00% 70.37%
Corporate 		1.24% 0.00% 9.41% 2.74%
Securitized 		0.13% 0.00% 5.93% 0.58%
Derivative 		0.05% -0.35% 48.45% 3.37%
Cash & Equivalents 		0.00% 0.00% 43.00% 57.86%
Government 		0.00% 0.00% 52.02% 10.09%

Bond Geographic Breakdown

Weighting Return Low Return High AIDAX % Rank
US 		99.14% 0.00% 135.36% 29.58%
Non US 		0.00% 0.00% 23.89% 12.92%

AIDAX - Expenses

Operational Fees

AIDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.67% 0.03% 3.74% 57.48%
Management Fee 0.37% 0.00% 1.20% 32.40%
12b-1 Fee 0.25% 0.00% 1.00% 37.85%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

AIDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 0.50% 4.75% 65.63%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

AIDAX 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.

AIDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 283.00% 64.44%

AIDAX - Distributions

Dividend Yield Analysis

AIDAX Category Low Category High AIDAX % Rank
Dividend Yield 2.82% 0.00% 14.51% 63.37%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

AIDAX Category Low Category High AIDAX % Rank
Net Income Ratio 1.69% -0.53% 5.32% 65.03%

Capital Gain Distribution Analysis

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

Distributions History

View More +

AIDAX - Fund Manager Analysis

Managers

Terrance Hults

Start Date

Tenure

Tenure Rank

Dec 31, 2002

19.43

19.4%

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

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

Jan 26, 2018

4.35

4.4%

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 7.27 1.58

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