Alliance Bernstein - AB Tax-Aware Short Duration Municipal ETF
$24.68−0.10 (−0.38%)
- Expense ratio
- 0.27%
- Fund size
- $1.4B
- 1Y return
- +0.7%
- Yield · Last 12 months
- 3.15%
- Holdings
- 694
- Volume · 30D
- 0.5M sh
- NAV per share
- $24.79
- 52W range
The ETF.net TAFI Grade
Score 62 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 26Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 44Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 84Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 70Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 66Category rank
Our read on TAFI
BMost muni funds own munis and nothing else. TAFI is an actively run short-duration muni portfolio with an escape hatch: up to 20% can sit in taxable bonds when those pay more on an after-tax basis.
The Fund seeks relative stability of principal together with a moderate after-tax return and income.
Why people hold it
- The taxable sleeve is the point. Up to 20% can move into taxable bonds when they beat comparable munis after tax, a lever a pure muni index fund does not have.alliancebernstein.com
- Duration is targeted at one to three years, keeping rate-driven price swings modest next to intermediate and long muni funds.alliancebernstein.com
- A 0.27% fee undercuts the typical muni ETF even with a live team picking bonds. Active management here costs less than the cohort median.
- A multi-billion-dollar book spread across roughly 700 bonds, paying monthly, and among the smoother muni ETFs to trade in size.
Worth knowing
- The mandate is deliberately loose: "relative stability of principal together with a moderate after-tax return and income." No index to hold it to, so outcomes ride on manager calls.
- Plain-vanilla index munis are far cheaper. VTEB and SCMB run 0.03%, so you are paying roughly nine times that for the active seat and the taxable sleeve.
- Income from the taxable portion is not federally tax-exempt, so the tax profile shifts with how the managers use that flexibility.alliancebernstein.com
TAFI Holdings
- Bonds
- 694
- 11%
- PENNSYLVANIA ST ECON DEV FING PASMED 05/53 ADJUSTABLE VAR
Geography
- United States100.00%
TAFI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TAFI |
|---|---|
| Year to date | +0.3% |
| 1 month | −1.0% |
| 3 months | −0.9% |
| 1 year | +0.7% |
| 3 years | +3.4% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TAFI |
|---|---|---|
| 2026 YTD | +0.3% | |
| 2025 | +4.4% | |
| 2024 | +2.5% | |
| 2023 | +4.1% | |
| 2022 | +0.5% |
TAFI in the news
ETF.net Research hasn’t filed on TAFI yet — coverage lands here as it’s written.
TAFI Dividends
- 3.15%
- $0.78
- $0.06 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.06 |
| Aug 3, 2026 | Aug 6, 2026 | $0.07 |
| Jul 1, 2026 | Jul 7, 2026 | $0.06 |
| Jun 1, 2026 | Jun 4, 2026 | $0.06 |
| May 1, 2026 | May 6, 2026 | $0.07 |
| Apr 1, 2026 | Apr 7, 2026 | $0.06 |
| Mar 2, 2026 | Mar 5, 2026 | $0.06 |
| Feb 2, 2026 | Feb 5, 2026 | $0.06 |
| Dec 31, 2025 | Jan 5, 2026 | $0.08 |
| Dec 1, 2025 | Dec 4, 2025 | $0.06 |
| Nov 3, 2025 | Nov 6, 2025 | $0.07 |
| Oct 1, 2025 | Oct 6, 2025 | $0.06 |
TAFI Risk
- 2.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.48
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −2.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.35
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAFI Cost
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
18 of the 27 Short-Duration Municipal Bonds funds charge less.