Alliance Bernstein - AB Tax-Aware Long Municipal ETF
$23.46+0.21 (+0.92%)
- 0.28%
- $59M
- −3.8%
- 4.45%
- 0M sh
- $23.25
- low $23.04high $25.55
The ETF.net TAFL Grade
C
Score 42 out of 100
- 5 of 5
Score 42 of 100 falls in the C 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.F23 out of 100Rank 5 of 5Mission
Whether the fund did what it promised, tested against its stated mandate.C53 out of 100Rank 5 of 5Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C48 out of 100Rank 2 of 5Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C52 out of 100Rank 3 of 5Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B56 out of 100Rank 4 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D37 out of 100Rank 4 of 5
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
- 143
- 21%
- 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.
Not enough history yet.Not enough history yet.Not enough history yet.
TAFL$9,617
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 | TAFL |
|---|---|
| Year to date | −4.5% |
| 1 month | −3.5% |
| 3 months | −7.0% |
| 1 year | −3.8% |
| 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 | −4.5% | |
| 2025 | +3.5% | |
| 2024 | +1.9% | |
| 2023 | +2.1% |
TAFL in the news
TAFL Dividends
- 4.45%
- $1.03
- $0.09 per share
- Monthly
Distribution history
TAFL Risk
- 5.6%
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.
- −0.67
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.
- −7.8%
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
0.28%
TAFL0.28%
- The middle half of Long-Duration Municipal Bonds funds
- Median 0.24%
Every other Long-Duration Municipal Bonds fund charges less.
Other funds in Long-Duration Municipal Bonds
- BLMUBiShares Long-Term National Muni Bond ETFExpense ratio 0.09%1 year return −3.9%
- BVTELVanguard Municipal Bond Funds - Vanguard Long-Term Tax-Exempt Bond ETFExpense ratio 0.09%1 year return −3.7%
- BMLNVanEck Long Muni ETFExpense ratio 0.24%1 year return −4.0%
- CTMNLT. Rowe Price Long Municipal Income ETFExpense ratio 0.26%1 year return —