Alliance Bernstein - AB Tax-Aware Long Municipal ETF
$23.73−0.27 (−1.12%)
- Expense ratio
- 0.28%
- Fund size
- $62M
- 1Y return
- −0.1%
- Yield · Last 12 months
- 4.25%
- Holdings
- 129
- Volume · 30D
- 0M sh
- NAV per share
- $24.03
- 52W range
The ETF.net TAFL Grade
Score 43 of 100 sits in the C 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.FScore 23Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.CScore 50Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 61Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 51Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 56Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 37Category rank
Our read on TAFL
CMost muni ETFs hug an index. TAFL is the active take on the long end of the tax-exempt curve, run by AB's municipal desk for after-tax income, at 0.28% a year.
The Fund seeks enhanced income and attractive risk-adjusted after-tax returns.
Why people hold it
- Active, not index-bound: the stated mandate is enhanced income and attractive risk-adjusted after-tax returns, so the desk picks its spots on the long curve.
- At 0.28% a year it comes in under the typical municipal bond ETF, unusual for an actively run fund.
- Income lands monthly, drawn from a focused book of roughly 120 national municipal bonds rather than a thousand-line index sleeve.
- Does what it says on the tin: the portfolio has stayed tight to its long national muni mandate, and it lands in the upper half of a crowded muni field.
Worth knowing
- Long-maturity bonds move more when rates move. Expect bigger price swings than short or intermediate muni funds, in both directions.alliancebernstein.com
- Index staples cost far less: VTEB runs 0.03% and MUB 0.05%. You are paying for the active long-curve call.
- Still a small, thinly traded fund since its 2023 launch, so spreads can run wider than the muni giants.
TAFL Holdings
- Bonds
- 129
- 20%
- TRIBOROUGH NY BRIDGE TUNNEL TRBTRN 05/54 FIXED 5
Geography
- United States100.00%
TAFL 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 | TAFL |
|---|---|
| Year to date | −1.4% |
| 1 month | −2.7% |
| 3 months | −3.7% |
| 1 year | −0.1% |
| 3 years | — |
| 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 | TAFL |
|---|---|---|
| 2026 YTD | −1.4% | |
| 2025 | +3.5% | |
| 2024 | +1.9% | |
| 2023 | +2.1% |
TAFL in the news
ETF.net Research hasn’t filed on TAFL yet — coverage lands here as it’s written.
TAFL Dividends
- 4.25%
- $1.02
- $0.08 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.08 |
| Aug 3, 2026 | Aug 6, 2026 | $0.09 |
| Jul 1, 2026 | Jul 7, 2026 | $0.09 |
| Jun 1, 2026 | Jun 4, 2026 | $0.08 |
| May 1, 2026 | May 6, 2026 | $0.09 |
| Apr 1, 2026 | Apr 7, 2026 | $0.09 |
| Mar 2, 2026 | Mar 5, 2026 | $0.09 |
| Feb 2, 2026 | Feb 5, 2026 | $0.08 |
| Dec 31, 2025 | Jan 5, 2026 | $0.10 |
| Dec 1, 2025 | Dec 4, 2025 | $0.08 |
| Nov 3, 2025 | Nov 6, 2025 | $0.08 |
| Oct 1, 2025 | Oct 6, 2025 | $0.08 |
TAFL Risk
- 4.8%
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.
- −0.42
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.
- −6.0%
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.
- 0.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAFL Cost
- The middle half of Long-Duration Municipal Bonds funds
- Median 0.24%
Every other Long-Duration Municipal Bonds fund charges less.