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AB All Market Real Return Portfolio
mutual fund
AMTAX
Payout Change
Pending
Price as of:
$9.51
-0.02
-0.21%
primary theme
N/A
share class
AMTAX (Mutual Fund)
AB All Market Real Return Portfolio
Payout Change
Pending
Price as of:
$9.51
-0.02
-0.21%
primary theme
N/A
share class
AMTAX (Mutual Fund)
AB All Market Real Return Portfolio
Payout Change
Pending
Price as of:
$9.51
-0.02
-0.21%
primary theme
N/A
share class
Name
As of 12/06/2024Price
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
Vitals
YTD Return
8.4%
1 yr return
12.8%
3 Yr Avg Return
3.5%
5 Yr Avg Return
7.4%
Net Assets
$734 M
Holdings in Top 10
36.4%
52 WEEK LOW AND HIGH
$9.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.27%
SALES FEES
Front Load 4.25%
Deferred Load N/A
TRADING FEES
Turnover 65.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
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
AMTAX - Profile
Distributions
- YTD Total Return 8.4%
- 3 Yr Annualized Total Return 3.5%
- 5 Yr Annualized Total Return 7.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.86%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAB All Market Real Return Portfolio
-
Fund Family NameALLIANCEBE
-
Inception DateMar 09, 2010
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDaniel Loewy
Fund Description
The Fund seeks to maximize real return. Real return is the rate of return after adjusting for inflation.
The Fund pursues an aggressive investment strategy involving a variety of asset classes. The Fund invests primarily in instruments that the Adviser expects to outperform broad equity indices during periods of rising inflation. Under normal circumstances, the Fund expects to invest its assets principally in the following instruments that, in the judgment of the Adviser, are affected directly or indirectly by the level and change in rate of inflation: inflation-indexed fixed-income securities, such as Treasury Inflation-Protected Securities (“TIPS”) and similar bonds issued by governments outside of the United States; commodities; commodity-related equity securities; real estate equity securities; inflation sensitive equity securities, which the Fund defines as equity securities of companies that the Adviser believes have the ability to pass along increasing costs to consumers and maintain or grow margins in rising inflation environments, including equity securities of utilities and infrastructure-related companies (“inflation sensitive equities”); securities and derivatives linked to the price of other assets (such as commodities, stock indices and real estate); and currencies. The Fund expects its investments in fixed-income securities to have a broad range of maturities and quality levels.
The Fund seeks inflation protection from investments around the globe, both in developed and emerging market countries. In selecting securities for purchase and sale, the Adviser utilizes its qualitative and quantitative resources to determine overall inflation sensitivity, asset allocation, and security selection. The Adviser assesses the securities’ risks and inflation sensitivity as well as the securities’ impact on the overall risks and inflation sensitivity of the Fund. When its analysis indicates that changes are necessary, the Adviser intends to implement them through a combination of changes to underlying positions and the use of inflation swaps and other types of derivatives, such as interest rate swaps.
The Fund anticipates that its targeted investment mix, other than its investments in inflation-indexed fixed-income securities, will focus on commodity-related equity securities, commodities and commodity derivatives, real estate equity securities and inflation sensitive equities to provide a balance between expected return and inflation protection. The Fund may vary its investment allocations among these asset classes, at times significantly. Its commodities investments will include significant exposure to energy commodities, but will also include agricultural products, and industrial and precious metals, such as gold. The Fund’s investments in real estate equity securities will include real estate investment trusts (“REITs”) and other real estate-related securities.
The Fund invests in both U.S. and non-U.S. Dollar-denominated equity or fixed-income securities. The Fund may invest in currencies for hedging or for investment purposes, both in the spot market and through long or short positions in currency-related derivatives. The Fund does not ordinarily expect to hedge its foreign currency exposure because it will be balanced by investments in U.S. Dollar-denominated securities, although it may hedge the exposure under certain circumstances.
The Fund may enter into derivatives, such as options, futures contracts, forwards, swaps or structured notes, to a significant extent, subject to the limits of applicable law. The Fund intends to use leverage for investment purposes through the use of cash made available by derivatives transactions to make other investments in accordance with its investment policies. In determining when and to what extent to employ leverage or enter into derivatives transactions, the Adviser considers factors such as the relative risks and returns expected of potential investments and the cost of such transactions. The Adviser considers the impact of derivatives in making its assessments of the Fund’s risks. The resulting exposures to markets, sectors, issuers or specific securities will be continuously monitored by the Adviser.
The Fund may seek to gain exposure to physical commodities traded in the commodities markets through use of a variety of derivative instruments, including investments in commodity index-linked notes. The Adviser expects to seek exposure to commodities and commodity-related instruments and derivatives primarily through investments in AllianceBernstein Cayman Inflation Strategy, Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by the Adviser and has the same investment objective and substantially similar investment policies and restrictions as the Fund except that the Subsidiary, unlike the Fund, may invest, without limitation, in commodities and commodity-related instruments. The Fund is subject to the risks associated with the commodities, derivatives and other instruments in which the Subsidiary invests, to the extent of its investment in the Subsidiary. The Fund limits its investment in the Subsidiary to no more than 25% of its net assets. Investment in the Subsidiary is expected to provide the Fund with commodity exposure within the limitations of federal tax requirements that apply to the Fund.
AMTAX - Performance
Return Ranking - Trailing
| Period | AMTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.4% | -23.7% | 16.4% | 6.87% |
| 1 Yr | 12.8% | -8.9% | 48.3% | 5.36% |
| 3 Yr | 3.5%* | -2.2% | 16.4% | 6.46% |
| 5 Yr | 7.4%* | -0.7% | 13.4% | 11.68% |
| 10 Yr | 3.3%* | 0.9% | 11.8% | 95.82% |
* Annualized
Return Ranking - Calendar
| Period | AMTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.0% | -40.8% | 20.6% | 6.43% |
| 2022 | -11.7% | -21.0% | 24.5% | 81.55% |
| 2021 | 14.6% | -24.2% | 27.8% | 40.19% |
| 2020 | -2.7% | -23.1% | 11.7% | 79.85% |
| 2019 | 13.5% | -100.0% | 20.6% | 71.39% |
Total Return Ranking - Trailing
| Period | AMTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.4% | -23.7% | 16.4% | 7.08% |
| 1 Yr | 12.8% | -12.8% | 48.3% | 10.59% |
| 3 Yr | 3.5%* | -3.4% | 16.4% | 12.01% |
| 5 Yr | 7.4%* | -1.1% | 13.4% | 24.94% |
| 10 Yr | 3.3%* | 0.9% | 11.8% | 96.96% |
* Annualized
Total Return Ranking - Calendar
| Period | AMTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.5% | -40.8% | 20.6% | 6.43% |
| 2022 | -4.6% | -21.0% | 24.5% | 81.55% |
| 2021 | 26.0% | -24.2% | 27.8% | 40.19% |
| 2020 | 0.2% | -23.1% | 11.7% | 76.92% |
| 2019 | 15.4% | -2.9% | 23.1% | 64.58% |
NAV & Total Return History
AMTAX - Holdings
Concentration Analysis
| AMTAX | Category Low | Category High | AMTAX % Rank | |
|---|---|---|---|---|
| Net Assets | 734 M | 1.12 M | 110 B | 35.21% |
| Number of Holdings | 677 | 2 | 10961 | 26.30% |
| Net Assets in Top 10 | 260 M | -31.7 M | 22 B | 35.07% |
| Weighting of Top 10 | 36.40% | 10.8% | 100.0% | 49.22% |
Top 10 Holdings
- AB Fixed Income Shares, Inc. - Government Money Market Portfolio 23.06%
- Prologis Inc 2.61%
- Exxon Mobil Corp 1.84%
- Shell PLC 1.75%
- Equinix Inc 1.67%
- Welltower Inc 1.33%
- Simon Property Group Inc 1.11%
- Digital Realty Trust Inc 1.03%
- Rio Tinto PLC 1.00%
- AB Fixed Income Shares, Inc. - Government Money Market Portfolio 1.00%
Asset Allocation
| Weighting | Return Low | Return High | AMTAX % Rank | |
|---|---|---|---|---|
| Stocks | 73.93% | -45.72% | 98.42% | 6.47% |
| Cash | 27.08% | -97.12% | 185.58% | 15.66% |
| Preferred Stocks | 0.00% | -0.03% | 14.00% | 61.38% |
| Convertible Bonds | 0.00% | 0.00% | 25.49% | 99.37% |
| Bonds | 0.00% | -39.76% | 93.84% | 97.29% |
| Other | -1.01% | -1.25% | 197.12% | 49.27% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | AMTAX % Rank | |
|---|---|---|---|---|
| Real Estate | 41.07% | 0.00% | 90.14% | 8.07% |
| Energy | 17.06% | 0.00% | 38.61% | 12.10% |
| Basic Materials | 12.54% | 0.00% | 60.23% | 7.01% |
| Industrials | 7.40% | 0.09% | 32.39% | 87.90% |
| Utilities | 5.22% | 0.00% | 40.29% | 32.48% |
| Technology | 4.56% | 0.00% | 39.48% | 82.80% |
| Healthcare | 3.10% | 0.00% | 30.30% | 84.93% |
| Consumer Defense | 2.82% | 0.00% | 31.85% | 85.35% |
| Financial Services | 2.57% | 0.00% | 30.34% | 86.62% |
| Consumer Cyclical | 2.13% | 0.00% | 20.84% | 85.99% |
| Communication Services | 1.53% | 0.00% | 28.59% | 88.75% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | AMTAX % Rank | |
|---|---|---|---|---|
| US | 44.90% | -4.82% | 95.75% | 30.06% |
| Non US | 29.03% | -46.69% | 57.06% | 10.86% |
AMTAX - Expenses
Operational Fees
| AMTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.27% | 0.16% | 2.71% | 41.54% |
| Management Fee | 0.75% | 0.00% | 1.70% | 75.59% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 53.39% |
| Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
| AMTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.25% | 0.00% | 5.75% | 73.56% |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
| AMTAX 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.
| AMTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 65.00% | 0.00% | 441.00% | 55.98% |
AMTAX - Distributions
Dividend Yield Analysis
| AMTAX | Category Low | Category High | AMTAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.06% | 0.00% | 10.92% | 1.66% |
Dividend Distribution Analysis
| AMTAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| AMTAX | Category Low | Category High | AMTAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.86% | -5.20% | 6.33% | 16.78% |
Capital Gain Distribution Analysis
| AMTAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 04, 2023 | $0.291 | OrdinaryDividend |
| Dec 05, 2022 | $0.709 | OrdinaryDividend |
| Dec 06, 2021 | $0.946 | OrdinaryDividend |
| Dec 07, 2020 | $0.248 | OrdinaryDividend |
| Dec 09, 2019 | $0.140 | OrdinaryDividend |
| Dec 10, 2018 | $0.116 | OrdinaryDividend |
| Dec 11, 2017 | $0.278 | OrdinaryDividend |
| Dec 12, 2016 | $0.192 | OrdinaryDividend |
| Dec 10, 2015 | $0.103 | OrdinaryDividend |
| Dec 11, 2014 | $0.190 | OrdinaryDividend |
| Dec 12, 2013 | $0.140 | OrdinaryDividend |
| Dec 13, 2012 | $0.260 | OrdinaryDividend |
| Dec 15, 2011 | $0.082 | OrdinaryDividend |
| Dec 15, 2010 | $0.350 | OrdinaryDividend |
AMTAX - Fund Manager Analysis
Managers
Daniel Loewy
Start Date
Tenure
Tenure Rank
Mar 31, 2015
7.17
7.2%
Daniel Loewy is Chief Investment Officer and Head of Multi-Asset Solutions. He oversees the research and product design of the firm’s multi-asset strategies, as well as their implementation. In addition, Loewy is Chief Investment Officer for Dynamic Asset Allocation, and is responsible for the development and investment decision-making for that service. He is also a member of the Real Asset Investment Policy Group and the Target Date Investment Oversight team. Loewy previously led the Wealth Management Group’s research on the major investment issues faced by our highest-net-worth clients, including asset allocation, alternative investments and tax management. Prior to that, he was a research analyst in the equity research department, where he followed the aerospace and defense and capital goods sectors. Additionally, Loewy has served as an associate portfolio manager for our value equity services. He holds a BS in industrial and labor relations from Cornell University and an MBA from Columbia University, and is a CFA charterholder. Location: New York
Vinod Chathlani
Start Date
Tenure
Tenure Rank
Oct 27, 2015
6.6
6.6%
Vinod Chathlani is a Lead Portfolio Manager for Liquid Real Assets and Select Market Neutral Strategies on the Multi-Asset Solutions team. He joined AB in 2013 as a quantitative researcher and assistant portfolio manager on the Dynamic Asset Allocation team, where he helped research and develop quantitative tools and systematic strategies. Prior to that, Chathlani held roles in investment risk and corporate strategy, focusing on mergers and acquisitions. He holds a BTech from the University of Madras, India; an MFE in quantitative finance from the University of California, Los Angeles; and a PGDM (MBA) from the Indian School of Business, India.
Leon Zhu
Start Date
Tenure
Tenure Rank
Jan 31, 2018
4.33
4.3%
Leon Zhu is a Senior Vice President and Portfolio Manager of Multi-Asset Solutions at AB, and has been Co-Portfolio Manager of Global Risk Allocation products since 2012. Previously, he served as director of Quantitative Research, a position he held for 10 years. Mr. Zhu joined AllianceBernstein L.P. in 1995. Zhu was also a member of the Investment Policy Group for the AllianceBernstein L.P.’s Global Diversified Strategies hedge funds from its inception in 2002 until 2014. Before joining AB as a quantitative analyst in 1995, he was a consultant at Princeton Consultants. Zhu holds a BS in mathematics from Yale University and an MA in mathematics from Princeton University, and is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.03 | 30.27 | 6.52 | 9.25 |
