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Morningstar

AB Municipal Income II Pennsylvania A APAAX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 9.81  /  0.01 %
  • Total Assets 52.5 Mil
  • Adj. Expense Ratio
    0.850%
  • Expense Ratio 0.850%
  • Distribution Fee Level High
  • Share Class Type Front Load
  • Category Muni Pennsylvania
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 2.86%
  • Effective Duration 6.16 years

USD | NAV as of Jan 26, 2023 | 1-Day Return as of Jan 26, 2023, 11:10 PM GMT+00:00

Morningstar’s Analysis APAAX

Will APAAX 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 APAAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the APAAX 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 APAAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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AB Municipal Income II Pennsylvania A's Average Process and Parent pillars limit this strategy to a Morningstar Quantitative Rating of Neutral. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-costliest quintile among peers.

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