Alliance Bernstein - AB Tax-Aware Intermediate Municipal ETF
$24.22−0.24 (−0.98%)
- Expense ratio
- 0.28%
- Fund size
- $778M
- 1Y return
- −0.1%
- Yield · Last 12 months
- 3.77%
- Holdings
- 673
- Volume · 30D
- 0.3M sh
- NAV per share
- $24.46
- 52W range
The ETF.net TAFM Grade
Score 70 of 100 sits in the A 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.BScore 68Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 94Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 47Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 64Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 63Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 66Category rank
Our read on TAFM
AActive muni management in an ETF wrapper: AB steers roughly 600 intermediate-term municipal bonds toward after-tax income instead of hugging a benchmark, and charges a shade under the typical muni fund.
The actively managed ETF seeks enhanced income and attractive risk-adjusted after-tax returns. It invests in an intermediate-duration municipal bond portfolio.
Why people hold it
- Costs 0.28% a year, under the muni ETF median and cheaper than active benchmark-mates FTMU (0.30%) and FTCA (0.35%).
- Actively run rather than index-replicating: managers shop across roughly 600 municipal bonds aiming at enhanced income and after-tax risk-adjusted returns.alliancebernstein.com
- Income is paid monthly, not quarterly, which suits investors who want muni coupons on a regular cadence.
- Sits in the upper tier of a crowded municipal bond peer group, one of the stronger active implementations in the category.
Worth knowing
- Index rivals VTEB and SCMB charge 0.03%, so you are paying multiples of plain muni beta for the manager's judgment.
- Intermediate duration means the portfolio moves with interest rates, so this is a rate-sensitive way to hold munis.alliancebernstein.com
- Launched in December 2023 with a mid-size asset base, so the track record is short and it trades less heavily than the category's giants.
TAFM Holdings
- Bonds
- 673
- 11%
- BS39GZ9 IRS USD R V 12MUSCPI IS39H01 CCPINFLATIONZERO
Geography
- United States100.00%
TAFM 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 | TAFM |
|---|---|
| Year to date | −1.5% |
| 1 month | −2.5% |
| 3 months | −3.6% |
| 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 | TAFM |
|---|---|---|
| 2026 YTD | −1.5% | |
| 2025 | +4.2% | |
| 2024 | +2.5% | |
| 2023 | +1.5% |
TAFM in the news
ETF.net Research hasn’t filed on TAFM yet — coverage lands here as it’s written.
TAFM Dividends
- 3.77%
- $0.92
- $0.07 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.07 |
| Aug 3, 2026 | Aug 6, 2026 | $0.08 |
| Jul 1, 2026 | Jul 7, 2026 | $0.08 |
| Jun 1, 2026 | Jun 4, 2026 | $0.07 |
| May 1, 2026 | May 6, 2026 | $0.08 |
| Apr 1, 2026 | Apr 7, 2026 | $0.08 |
| Mar 2, 2026 | Mar 5, 2026 | $0.08 |
| Feb 2, 2026 | Feb 5, 2026 | $0.08 |
| Dec 31, 2025 | Jan 5, 2026 | $0.09 |
| Dec 1, 2025 | Dec 4, 2025 | $0.08 |
| Nov 3, 2025 | Nov 6, 2025 | $0.08 |
| Oct 1, 2025 | Oct 6, 2025 | $0.07 |
TAFM Risk
- 4.0%
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.
- −4.7%
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.
- 0.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAFM Cost
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
6 of the 19 Intermediate Municipal Bonds funds charge less.