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Name

As of 10/04/2024

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

International Small Cap Portfolio

IRCZX | Fund

$12.87

$1.09 B

2.55%

$0.33

1.09%

Vitals

YTD Return

15.4%

1 yr return

27.0%

3 Yr Avg Return

1.6%

5 Yr Avg Return

6.7%

Net Assets

$1.09 B

Holdings in Top 10

12.9%

52 WEEK LOW AND HIGH

$12.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.09%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 48.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/04/2024

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

International Small Cap Portfolio

IRCZX | Fund

$12.87

$1.09 B

2.55%

$0.33

1.09%

IRCZX - Profile

Distributions

  • YTD Total Return 15.4%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return 6.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.22%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    International Small Cap Portfolio
  • Fund Family Name
    ALLIANCEBE
  • Inception Date
    Dec 21, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Z
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Birse

Fund Description

The Portfolio invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of small-capitalization companies or other securities or instruments with similar economic characteristics, including
derivatives related to equity securities. Equity securities are primarily common stocks, although, for purposes of the 80% policy, equity securities may also include preferred stocks, warrants, convertible securities, sponsored or unsponsored American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) and equity real estate investment trusts (“REITs”). You will be notified at least 60 days prior to any change to the Portfolio’s 80% investment policy.
AllianceBernstein L.P. serves as the Portfolio’s investment manager (“Manager”). The Manager invests the assets of the Portfolio primarily in a diversified portfolio of equity securities of small-capitalization companies located outside of the United States. Under normal circumstances, at least 65% of the Portfolio’s net assets are invested in companies located outside of the United States. The Portfolio defines small-capitalization companies as those that, at the time of investment, have market capitalizations within the market capitalization range of the Portfolio’s benchmark, the Morgan Stanley Capital International (“MSCI”) All Country World Index (“ACWI”) ex USA Small Cap Index. The market capitalizations of companies in the MSCI ACWI ex USA Small Cap Index were between approximately $10.24 million and $7.59 billion at December 29, 2023. The market capitalization of the companies included in the Portfolio’s definition of “small-capitalization” companies changes over time as the capitalization of the securities included in the MSCI ACWI ex USA Small Cap Index changes.
The Portfolio’s exposure to non-U.S. companies may change over time based on the Manager’s assessment of market conditions and the investment merit of non-U.S. issuers. Under normal circumstances, the Manager invests in companies located in at least three countries other than the United States and expects to have exposure to issuers in several different countries. In determining a company’s location for purposes of the Portfolio’s investment policies and restrictions, the Manager may consider: (1) the place of domicile; (2) where the company has an established presence and conducts its business; and (3) where the company conducts a significant part of its economic activities. The Portfolio may invest in both developed and emerging market countries and, at times, may invest significantly in emerging markets.
The Manager seeks to identify attractive investment opportunities primarily through its fundamental investment research or quantitative analysis. In applying its fundamental research, the Manager generally seeks to identify companies that possess both attractive valuation and compelling company- and/or industry-level investment catalysts. In applying its quantitative analysis, the Manager typically considers a number of metrics that historically have provided some indication of favorable future returns, including metrics related to valuation, quality, investor behavior and corporate behavior. Utilizing these resources, the Manager expects to allocate the Portfolio’s assets among issuers, industries and geographic locations to attempt to create a diversified portfolio of investments.
The Portfolio may invest in established companies and also in new and less-seasoned issuers. The Portfolio may also invest in exchange-traded funds (“ETFs”) and other investment companies from time to time.
The Portfolio expects to utilize derivatives, such as options, futures contracts, forwards and swaps. For example, the Portfolio may invest in currency derivatives as discussed below and in futures contracts to gain exposure to certain markets. Derivatives may provide a more efficient and economical exposure to market segments than direct investments, and may also be a more efficient way to alter the Portfolio’s exposure.
Fluctuations in currency exchange rates can have a dramatic impact on the returns of foreign equity securities. The Manager may employ currency hedging strategies, including the use of currency-related derivatives, to seek to reduce currency risk in the Portfolio, but it is not required to do so. The Manager may also take long and short positions in currencies or related derivatives for investment purposes, independent of any security positions. The Manager may use stock index futures contracts to gain access to certain markets.
Read More

IRCZX - Performance

Return Ranking - Trailing

Period IRCZX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% 3.8% 16.9% 3.66%
1 Yr 27.0% 19.6% 36.0% 2.44%
3 Yr 1.6%* -5.7% 6.6% 42.50%
5 Yr 6.7%* 3.9% 10.2% 64.47%
10 Yr N/A* 3.9% 7.6% N/A

* Annualized

Return Ranking - Calendar

Period IRCZX Return Category Return Low Category Return High Rank in Category (%)
2023 9.7% 1.1% 25.3% 84.15%
2022 -21.7% -35.4% -13.9% 67.50%
2021 8.3% -5.3% 14.4% 37.66%
2020 7.0% 3.1% 17.0% 64.94%
2019 17.0% 13.1% 25.4% 88.57%

Total Return Ranking - Trailing

Period IRCZX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% 3.8% 16.9% 3.66%
1 Yr 27.0% 19.6% 36.0% 2.44%
3 Yr 1.6%* -5.7% 6.6% 42.50%
5 Yr 6.7%* 3.9% 10.2% 64.47%
10 Yr N/A* 3.9% 7.6% N/A

* Annualized

Total Return Ranking - Calendar

Period IRCZX Return Category Return Low Category Return High Rank in Category (%)
2023 13.2% 2.5% 25.8% 76.83%
2022 -20.9% -35.4% -10.9% 67.50%
2021 12.5% 7.7% 18.9% 62.34%
2020 8.2% 3.5% 18.1% 75.32%
2019 19.4% 17.4% 32.7% 88.57%

NAV & Total Return History

IRCZX - Holdings

Concentration Analysis

IRCZX Category Low Category High IRCZX % Rank
Net Assets 1.09 B 5.84 M 12.8 B 30.49%
Number of Holdings 336 2 4796 30.49%
Net Assets in Top 10 140 M 1.63 M 12.6 B 32.93%
Weighting of Top 10 12.86% 5.7% 102.9% 56.10%

Top 10 Holdings

  1. International Games System Co Ltd 2.09%
  2. AB Fixed Income Shares, Inc. - Government Money Market Portfolio 1.71%
  3. Saab AB 1.51%
  4. E Ink Holdings Inc 1.21%
  5. Asics Corp 1.17%
  6. Hanwha Aerospace Co Ltd 1.09%
  7. Mebuki Financial Group Inc 1.05%
  8. Capstone Copper Corp 1.04%
  9. Hugel Inc 1.01%
  10. Bidvest Group Ltd/The 0.99%

Asset Allocation

Weighting Return Low Return High IRCZX % Rank
Stocks 		97.24% 91.19% 102.39% 39.02%
Cash 		2.51% 0.00% 8.90% 52.44%
Other 		0.24% -2.44% 48.01% 36.59%
Preferred Stocks 		0.00% 0.00% 3.79% 60.98%
Convertible Bonds 		0.00% 0.00% 0.00% 40.74%
Bonds 		0.00% 0.00% 0.49% 45.12%

Stock Sector Breakdown

Weighting Return Low Return High IRCZX % Rank
Industrials 		20.76% 12.46% 32.63% 70.37%
Technology 		14.91% 9.14% 22.43% 20.99%
Consumer Cyclical 		13.77% 9.23% 27.42% 29.63%
Financial Services 		10.70% 2.16% 21.69% 77.78%
Basic Materials 		9.28% 0.02% 13.14% 37.04%
Healthcare 		7.37% 0.00% 18.67% 38.27%
Real Estate 		6.32% 0.00% 12.22% 70.37%
Communication Services 		6.19% 1.47% 8.56% 8.64%
Consumer Defense 		5.10% 2.29% 12.17% 64.20%
Utilities 		2.90% 0.00% 4.57% 34.57%
Energy 		2.71% 0.00% 12.34% 54.32%

Stock Geographic Breakdown

Weighting Return Low Return High IRCZX % Rank
Non US 		96.24% 0.00% 99.21% 31.71%
US 		1.00% 0.02% 102.39% 70.73%

IRCZX - Expenses

Operational Fees

IRCZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.09% 0.08% 7.36% 63.41%
Management Fee 1.00% 0.05% 1.03% 86.59%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.25% N/A

Sales Fees

IRCZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.00% 1.00% N/A

Trading Fees

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

IRCZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 1.00% 185.00% 48.68%

IRCZX - Distributions

Dividend Yield Analysis

IRCZX Category Low Category High IRCZX % Rank
Dividend Yield 2.55% 0.00% 3.84% 17.07%

Dividend Distribution Analysis

IRCZX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

IRCZX Category Low Category High IRCZX % Rank
Net Income Ratio 1.22% 0.03% 2.41% 38.27%

Capital Gain Distribution Analysis

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

Distributions History

View More +

IRCZX - Fund Manager Analysis

Managers

Andrew Birse

Start Date

Tenure

Tenure Rank

Dec 21, 2015

6.45

6.5%

Andrew Birse was appointed Portfolio Manager of European Value Equities in March 2016 and has managed the International Small Cap Equities service since its inception in 2014. He is also a Senior Research Analyst. Prior to joining the firm as a research analyst in 2010, Birse spent seven years in the Corporate Finance Group at McKinsey & Company, working in the firm’s London, Sydney and Auckland offices. He holds a BCom (Hons) in finance and a BA in history and economics from the University of Auckland, and an MSc in economics and philosophy from the London School of Economics. Location: London

Peter Chocian

Start Date

Tenure

Tenure Rank

Dec 21, 2015

6.45

6.5%

Vice President of the Manager, with which he has been associated in a similar capacity since prior to 2015. Peter Chocian is a Senior Quantitative Analyst at AB. He joined the firm in 2006 as a quantitative analyst for Value Equities. Previously, he worked for four years as a senior analyst/modeler in the Numerical Weather Prediction division of the UK Met Office. Chocian earned a BSc in physics from Imperial College London and a PhD in theoretical physics from Royal Holloway, University of London, followed by research fellowships at University College London and the Max Planck Institute for the Physics of Complex Systems in Dresden, Germany. Location: London

Nelson Yu

Start Date

Tenure

Tenure Rank

Sep 01, 2016

5.75

5.8%

Senior Vice President and Portfolio Manager of AllianceBernstein L.P. since prior to 2014. Head—Blend Strategies since 2017 and Head of Quantitative Research—Equities since prior to 2014. Nelson Yu was appointed Head of Blend Strategies in early 2017. He is also a Portfolio Manager and Head of Quantitative Research for Equities, with responsibility for overseeing the research and application of risk and return models across the firm’s equity portfolios. In addition, Yu manages the currency overlay strategy across equity portfolios and is an advisory member of the Global Value, Emerging Markets Value and Strategic Core portfolios. He joined the firm in 1997 as a programmer and analyst, and served as deputy head of Value Equities Quantitative Research from 2009 until 2014. Yu was previously a supervising consultant at Grant Thornton. He holds a BSE in systems engineering and a BS in economics from the University of Pennsylvania, and is a CFA charterholder. Location: New York

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 21.76 7.63 18.43

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