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Morningstar

AB High Income Municipal A ABTHX

Morningstar Medalist Rating
Medalist Rating as of | See AllianceBernstein Investment Hub
  • NAV / 1-Day Return 9.94  /  0.19 %
  • Total Assets 2.9 Bil
  • Adj. Expense Ratio
    0.800%
  • Expense Ratio 1.150%
  • Distribution Fee Level Below Average
  • Share Class Type Front Load
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 4.03%
  • Effective Duration 12.69 years

USD | NAV as of Dec 04, 2023 | 1-Day Return as of Dec 04, 2023, 11:11 PM GMT+0

Morningstar’s Analysis ABTHX

Will ABTHX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ABTHX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the ABTHX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of ABTHX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Recent turnover warrants caution.

Associate Analyst Elizabeth Templeton

Elizabeth Templeton

Associate Analyst

Summary

The team running AB High Income Municipal has shifted with the departure of longtime portfolio manager Terry Hults from the firm on Feb. 7, 2023. An evolving team dynamic and the loss of resources provide pause, resulting in a downgrade of the People Pillar rating to Average from Above Average and a Morningstar Analyst Rating of Neutral for all share classes.

by Elizabeth Templeton
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings ABTHX

More ABTHX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 814
  • Other Holdings 11
  • % Assets in Top 10 Holdings 9.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

TOBACCO SETTLEMENT FING CORP N J 5%

1.59
47,264,902
municipal

MARYLAND ST STAD AUTH REV 5%

1.47
43,685,874
municipal

CHICAGO ILL O HARE INTL ARPT REV 5.25%

1.20
35,653,503
municipal

SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA 5.25%

0.94
27,811,500
municipal

TOBACCO SETTLEMENT FING CORP VA 5%

0.89
26,500,827
municipal

PUBLIC FIN AUTH WIS REV 5.75%

0.73
21,738,586
municipal

PUERTO RICO COMWLTH HWYS & TRANSN AUTH RESTRUCTURED TOLL REV 5%

0.73
21,492,700
municipal

CHILDRENS TR FD P R TOB SETTLEMENT REV 0%

0.70
20,670,962
municipal

CUYAHOGA CNTY OHIO HOSP REV 5%

0.65
19,374,815
municipal

BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%

0.65
19,268,756
municipal