Alliance Bernstein - AB Tax-Aware Short Duration Municipal ETF
$24.64+0.04 (+0.14%)
- 0.27%
- $1.4B
- +0.5%
- 3.18%
- 0.6M sh
- $24.61
- low $24.47high $25.65
The ETF.net TAFI Grade
B
Score 62 out of 100
- 14 of 28
Score 62 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D26 out of 100Rank 20 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 15 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A87 out of 100Rank 1 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B69 out of 100Rank 8 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 9 of 28
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
- 698
- 14%
- Alliancebernstein Govt Stif Ssc Fund 64BA Agis 587
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.
Not enough history yet.Not enough history yet.
TAFI$10,048
Returns run to the Oct 12, 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 | −0.1% |
| 1 month | −0.8% |
| 3 months | −1.5% |
| 1 year | +0.5% |
| 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 | −0.1% | |
| 2025 | +4.4% | |
| 2024 | +2.5% | |
| 2023 | +4.1% | |
| 2022 | +0.5% |
TAFI in the news
TAFI Dividends
- 3.18%
- $0.78
- $0.06 per share
- Monthly
Distribution history
TAFI Risk
- 2.3%
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.
- −0.56
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.
- −2.4%
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
0.27%
TAFI0.27%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
18 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- BFTMSFranklin Short-Term Municipal Income ETFExpense ratio 0.22%1 year return —
- BFUMBFirst Trust Ultra Short Duration Municipal ETFExpense ratio 0.29%1 year return +2.0%
- BTMNST. Rowe Price Short Municipal Income ETFExpense ratio 0.18%1 year return —
- BAUSMAllspring Ultra Short Municipal ETFExpense ratio 0.19%1 year return +1.9%
- BCALIiShares Short-Term California Muni Active ETFExpense ratio 0.25%1 year return +1.1%