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Diversified Municipal Portfolio
mutual fund
SNDPX
Payout Change
Pending
Price as of:
$14.01
+0.01
+0.07%
primary theme
Municipal Bond
share class
SNDPX (Mutual Fund)
Diversified Municipal Portfolio
Payout Change
Pending
Price as of:
$14.01
+0.01
+0.07%
primary theme
Municipal Bond
share class
SNDPX (Mutual Fund)
Diversified Municipal Portfolio
Payout Change
Pending
Price as of:
$14.01
+0.01
+0.07%
primary theme
Municipal Bond
share class
Name
As of 12/03/2024Price
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
3.3%
1 yr return
4.9%
3 Yr Avg Return
0.7%
5 Yr Avg Return
1.6%
Net Assets
$4.95 B
Holdings in Top 10
8.3%
52 WEEK LOW AND HIGH
$14.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.50%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 22.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$25,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/03/2024Price
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
SNDPX - Profile
Distributions
- YTD Total Return 3.3%
- 3 Yr Annualized Total Return 0.7%
- 5 Yr Annualized Total Return 1.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.89%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDiversified Municipal Portfolio
-
Fund Family NameALLIANCEBE
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTerrance 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 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 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.
SNDPX - Performance
Return Ranking - Trailing
| Period | SNDPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.3% | -4.7% | 38.6% | 60.58% |
| 1 Yr | 4.9% | -2.4% | 46.4% | 62.19% |
| 3 Yr | 0.7%* | -10.3% | 6.8% | 13.25% |
| 5 Yr | 1.6%* | -6.5% | 1104.9% | 13.88% |
| 10 Yr | 1.9%* | -0.9% | 249.0% | 45.16% |
* Annualized
Return Ranking - Calendar
| Period | SNDPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.3% | -1.4% | 41.0% | 66.26% |
| 2022 | -7.8% | -39.7% | 0.3% | 18.91% |
| 2021 | -0.4% | -5.6% | 6.9% | 46.80% |
| 2020 | 1.9% | -2.6% | 310.0% | 43.21% |
| 2019 | 3.2% | 0.0% | 26.0% | 74.37% |
Total Return Ranking - Trailing
| Period | SNDPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.3% | -4.7% | 38.6% | 60.58% |
| 1 Yr | 4.9% | -2.4% | 46.4% | 62.19% |
| 3 Yr | 0.7%* | -10.3% | 6.8% | 13.25% |
| 5 Yr | 1.6%* | -6.5% | 1104.9% | 13.88% |
| 10 Yr | 1.9%* | -0.9% | 249.0% | 45.16% |
* Annualized
Total Return Ranking - Calendar
| Period | SNDPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.2% | -1.3% | 41.0% | 63.84% |
| 2022 | -5.7% | -39.7% | 1.1% | 17.20% |
| 2021 | 1.4% | -4.8% | 23761504.0% | 53.47% |
| 2020 | 4.2% | -1.5% | 17057.9% | 34.80% |
| 2019 | 5.7% | 0.2% | 3514.6% | 69.83% |
NAV & Total Return History
SNDPX - Holdings
Concentration Analysis
| SNDPX | Category Low | Category High | SNDPX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.95 B | 3.22 M | 71.9 B | 6.45% |
| Number of Holdings | 955 | 4 | 13418 | 11.08% |
| Net Assets in Top 10 | 417 M | -317 M | 3.09 B | 7.52% |
| Weighting of Top 10 | 8.27% | 1.8% | 100.3% | 86.63% |
Top 10 Holdings
- PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE 1.09%
- COLORADO ST EDUC LOAN PROGRAM 1.01%
- MICHIGAN ST FIN AUTH REVENUE 0.99%
- TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE 0.91%
- SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 0.90%
- NEW JERSEY ST TRANSPRTN TRUST FUND AUTH 0.83%
- ILLINOIS ST 0.71%
- TEXAS ST TRANSPRTN COMMISSION CENTRAL TX TURNPIKE SYS REVENU 0.63%
- MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE 0.61%
- ILLINOIS ST TOLL HIGHWAY AUTH 0.60%
Asset Allocation
| Weighting | Return Low | Return High | SNDPX % Rank | |
|---|---|---|---|---|
| Bonds | 100.45% | 0.00% | 150.86% | 16.44% |
| Other | 0.25% | -3.69% | 53.54% | 6.92% |
| Stocks | 0.00% | 0.00% | 99.78% | 37.72% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 27.74% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 27.24% |
| Cash | 0.00% | -50.86% | 44.62% | 87.58% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | SNDPX % Rank | |
|---|---|---|---|---|
| Municipal | 96.31% | 44.39% | 100.00% | 71.21% |
| Corporate | 1.24% | 0.00% | 9.41% | 2.49% |
| Securitized | 0.13% | 0.00% | 5.93% | 0.81% |
| Derivative | 0.12% | -3.69% | 53.54% | 4.63% |
| Cash & Equivalents | 0.00% | 0.00% | 44.41% | 69.98% |
| Government | 0.00% | 0.00% | 52.02% | 33.24% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | SNDPX % Rank | |
|---|---|---|---|---|
| US | 100.45% | 0.00% | 142.23% | 15.85% |
| Non US | 0.00% | 0.00% | 23.89% | 32.37% |
SNDPX - Expenses
Operational Fees
| SNDPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.50% | 0.01% | 8.02% | 82.46% |
| Management Fee | 0.36% | 0.00% | 1.20% | 30.87% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| SNDPX 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
| SNDPX 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.
| SNDPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 22.00% | 0.00% | 283.00% | 63.62% |
SNDPX - Distributions
Dividend Yield Analysis
| SNDPX | Category Low | Category High | SNDPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.17% | 0.00% | 14.51% | 53.89% |
Dividend Distribution Analysis
| SNDPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| SNDPX | Category Low | Category High | SNDPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.89% | -0.53% | 5.33% | 53.16% |
Capital Gain Distribution Analysis
| SNDPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 20, 2024 | $0.037 | OrdinaryDividend |
| Oct 18, 2024 | $0.033 | OrdinaryDividend |
| Sep 20, 2024 | $0.039 | OrdinaryDividend |
| Aug 20, 2024 | $0.036 | OrdinaryDividend |
| Apr 19, 2024 | $0.036 | OrdinaryDividend |
| Mar 20, 2024 | $0.032 | OrdinaryDividend |
| Feb 20, 2024 | $0.034 | OrdinaryDividend |
| Jan 19, 2024 | $0.023 | OrdinaryDividend |
| Dec 29, 2023 | $0.012 | OrdinaryDividend |
| Dec 20, 2023 | $0.032 | OrdinaryDividend |
| Nov 20, 2023 | $0.031 | OrdinaryDividend |
| Oct 20, 2023 | $0.033 | OrdinaryDividend |
| Sep 20, 2023 | $0.031 | OrdinaryDividend |
| Aug 18, 2023 | $0.031 | OrdinaryDividend |
| Jul 20, 2023 | $0.030 | OrdinaryDividend |
| Jun 20, 2023 | $0.030 | OrdinaryDividend |
| May 19, 2023 | $0.031 | OrdinaryDividend |
| Apr 20, 2023 | $0.031 | OrdinaryDividend |
| Mar 20, 2023 | $0.029 | OrdinaryDividend |
| Feb 17, 2023 | $0.029 | OrdinaryDividend |
| Jan 20, 2023 | $0.020 | OrdinaryDividend |
| Dec 30, 2022 | $0.011 | OrdinaryDividend |
| Dec 20, 2022 | $0.028 | OrdinaryDividend |
| Nov 18, 2022 | $0.029 | OrdinaryDividend |
| Oct 20, 2022 | $0.026 | OrdinaryDividend |
| Sep 20, 2022 | $0.025 | OrdinaryDividend |
| Aug 19, 2022 | $0.027 | OrdinaryDividend |
| Jul 20, 2022 | $0.024 | OrdinaryDividend |
| Jun 17, 2022 | $0.023 | OrdinaryDividend |
| May 20, 2022 | $0.025 | OrdinaryDividend |
| Apr 20, 2022 | $0.024 | OrdinaryDividend |
| Mar 18, 2022 | $0.019 | OrdinaryDividend |
| Feb 18, 2022 | $0.022 | OrdinaryDividend |
| Jan 20, 2022 | $0.013 | OrdinaryDividend |
| Dec 31, 2021 | $0.007 | OrdinaryDividend |
| Dec 20, 2021 | $0.019 | OrdinaryDividend |
| Nov 19, 2021 | $0.022 | OrdinaryDividend |
| Oct 20, 2021 | $0.021 | OrdinaryDividend |
| Sep 20, 2021 | $0.020 | OrdinaryDividend |
| Aug 20, 2021 | $0.023 | OrdinaryDividend |
| Jul 20, 2021 | $0.023 | OrdinaryDividend |
| Jun 18, 2021 | $0.022 | OrdinaryDividend |
| May 20, 2021 | $0.021 | OrdinaryDividend |
| Apr 20, 2021 | $0.023 | OrdinaryDividend |
| Mar 19, 2021 | $0.021 | OrdinaryDividend |
| Feb 19, 2021 | $0.025 | OrdinaryDividend |
| Jan 20, 2021 | $0.016 | OrdinaryDividend |
| Dec 31, 2020 | $0.009 | OrdinaryDividend |
| Dec 18, 2020 | $0.023 | OrdinaryDividend |
| Nov 20, 2020 | $0.028 | OrdinaryDividend |
| Oct 20, 2020 | $0.026 | OrdinaryDividend |
| Sep 18, 2020 | $0.027 | OrdinaryDividend |
| Aug 20, 2020 | $0.028 | OrdinaryDividend |
| Jul 20, 2020 | $0.026 | OrdinaryDividend |
| Jun 19, 2020 | $0.029 | OrdinaryDividend |
| May 20, 2020 | $0.027 | OrdinaryDividend |
| Apr 20, 2020 | $0.026 | OrdinaryDividend |
| Mar 20, 2020 | $0.028 | OrdinaryDividend |
| Feb 20, 2020 | $0.028 | OrdinaryDividend |
| Jan 17, 2020 | $0.018 | OrdinaryDividend |
| Dec 31, 2019 | $0.008 | OrdinaryDividend |
| Dec 20, 2019 | $0.029 | OrdinaryDividend |
| Nov 20, 2019 | $0.028 | OrdinaryDividend |
| Oct 18, 2019 | $0.026 | OrdinaryDividend |
| Sep 20, 2019 | $0.031 | OrdinaryDividend |
| Aug 20, 2019 | $0.028 | OrdinaryDividend |
| Jul 19, 2019 | $0.029 | OrdinaryDividend |
| Dec 10, 2013 | $0.002 | CapitalGainLongTerm |
| Dec 12, 2012 | $0.001 | CapitalGainShortTerm |
| Dec 12, 2012 | $0.019 | CapitalGainLongTerm |
| Dec 14, 2011 | $0.007 | CapitalGainShortTerm |
| Dec 14, 2011 | $0.005 | CapitalGainLongTerm |
| Dec 07, 2010 | $0.005 | CapitalGainShortTerm |
| Dec 07, 2010 | $0.068 | CapitalGainLongTerm |
| Dec 08, 2009 | $0.023 | CapitalGainLongTerm |
| Dec 09, 2008 | $0.014 | CapitalGainLongTerm |
| Dec 22, 1998 | $0.016 | CapitalGainShortTerm |
| Dec 22, 1998 | $0.018 | CapitalGainLongTerm |
SNDPX - 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 | 7.36 | 1.58 |
