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AB Massachusetts Portfolio
mutual fund
AMAYX
Payout Change
Pending
Price as of:
$10.31
+0.03
+0.29%
primary theme
Municipal Bond
share class
AMAYX (Mutual Fund)
AB Massachusetts Portfolio
Payout Change
Pending
Price as of:
$10.31
+0.03
+0.29%
primary theme
Municipal Bond
share class
AMAYX (Mutual Fund)
AB Massachusetts Portfolio
Payout Change
Pending
Price as of:
$10.31
+0.03
+0.29%
primary theme
Municipal Bond
share class
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.3%
1 yr return
1.4%
3 Yr Avg Return
-1.0%
5 Yr Avg Return
1.0%
Net Assets
$250 M
Holdings in Top 10
25.5%
52 WEEK LOW AND HIGH
$10.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.64%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 4.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
AMAYX - Profile
Distributions
- YTD Total Return 1.3%
- 3 Yr Annualized Total Return -1.0%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.61%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAB Massachusetts Portfolio
-
Fund Family NameALLIANCEBE
-
Inception DateJul 25, 2016
-
Shares OutstandingN/A
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTerrance Hults
Fund Description
The Portfolio pursues its objective by investing principally in high-yielding, predominantly investment grade municipal securities. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. These securities may pay interest that is subject to the federal alternative minimum tax (“AMT”) for certain taxpayers. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities of Massachusetts or municipal securities with interest that is otherwise exempt from Massachusetts state income tax.
The Portfolio may also invest in:
| • | forward commitments; |
| • | zero-coupon municipal securities and variable, floating and inverse floating-rate municipal securities; and |
| • | derivatives, such as options, futures contracts, forwards and swaps. |
AMAYX - Performance
Return Ranking - Trailing
| Period | AMAYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.3% | -6.1% | 36.1% | 81.53% |
| 1 Yr | 1.4% | -6.0% | 38.2% | 84.02% |
| 3 Yr | -1.0%* | -11.5% | 5.9% | 68.92% |
| 5 Yr | 1.0%* | -7.2% | 1103.7% | 34.97% |
| 10 Yr | N/A* | -1.1% | 248.9% | 42.10% |
* Annualized
Return Ranking - Calendar
| Period | AMAYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.2% | -1.4% | 41.0% | 67.34% |
| 2022 | -11.8% | -39.7% | 0.3% | 52.42% |
| 2021 | 0.5% | -5.6% | 6.9% | 15.53% |
| 2020 | 2.2% | -2.6% | 310.0% | 27.38% |
| 2019 | 3.6% | 0.0% | 26.0% | 60.48% |
Total Return Ranking - Trailing
| Period | AMAYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.3% | -6.1% | 36.1% | 81.53% |
| 1 Yr | 1.4% | -6.0% | 38.2% | 84.02% |
| 3 Yr | -1.0%* | -11.5% | 5.9% | 68.92% |
| 5 Yr | 1.0%* | -7.2% | 1103.7% | 34.97% |
| 10 Yr | N/A* | -1.1% | 248.9% | 40.33% |
* Annualized
Total Return Ranking - Calendar
| Period | AMAYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.8% | -1.3% | 41.0% | 46.80% |
| 2022 | -9.1% | -39.7% | 1.1% | 47.51% |
| 2021 | 3.2% | -4.8% | 23761504.0% | 14.16% |
| 2020 | 5.4% | -1.5% | 17057.9% | 10.15% |
| 2019 | 7.1% | 0.2% | 3514.6% | 32.40% |
NAV & Total Return History
AMAYX - Holdings
Concentration Analysis
| AMAYX | Category Low | Category High | AMAYX % Rank | |
|---|---|---|---|---|
| Net Assets | 250 M | 3.22 M | 71.9 B | 65.93% |
| Number of Holdings | 177 | 4 | 13418 | 66.02% |
| Net Assets in Top 10 | 63.2 M | -317 M | 3.09 B | 58.56% |
| Weighting of Top 10 | 25.54% | 1.8% | 100.3% | 22.11% |
Top 10 Holdings
- MASSACHUSETTS ST 4.10%
- WORCESTER MA 3.15%
- MASSACHUSETTS ST DEV FIN AGY REVENUE 2.83%
- MASSACHUSETTS ST WTR RESOURCES AUTH 2.33%
- MASSACHUSETTS ST DEV FIN AGY REVENUE 2.28%
- MASSACHUSETTS ST DEV FIN AGY REVENUE 2.25%
- MASSACHUSETTS ST BAY TRANSPRTN AUTH SALES TAX REVENUE 2.23%
- MASSACHUSETTS ST 2.20%
- MASSACHUSETTS ST 2.11%
- MASSACHUSETTS ST DEV FIN AGY REVENUE 2.06%
Asset Allocation
| Weighting | Return Low | Return High | AMAYX % Rank | |
|---|---|---|---|---|
| Bonds | 96.93% | 0.00% | 150.86% | 79.40% |
| Cash | 2.08% | -50.86% | 44.62% | 31.30% |
| Other | 1.62% | -3.69% | 53.54% | 3.22% |
| Stocks | 0.01% | 0.00% | 99.77% | 13.49% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 32.30% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 31.96% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | AMAYX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 0.00% | N/A |
| Technology | 0.00% | 0.00% | 0.00% | N/A |
| Real Estate | 0.00% | 0.00% | 0.00% | N/A |
| Industrials | 0.00% | 0.00% | 100.00% | N/A |
| Healthcare | 0.00% | 0.00% | 0.00% | N/A |
| Financial Services | 0.00% | 0.00% | 0.00% | N/A |
| Energy | 0.00% | 0.00% | 0.00% | N/A |
| Communication Services | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
| Basic Materials | 0.00% | 0.00% | 0.00% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | AMAYX % Rank | |
|---|---|---|---|---|
| US | 0.01% | 0.00% | 99.77% | 13.50% |
| Non US | 0.00% | 0.00% | 10.22% | 31.90% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | AMAYX % Rank | |
|---|---|---|---|---|
| Municipal | 96.53% | 44.39% | 100.00% | 70.33% |
| Cash & Equivalents | 2.08% | 0.00% | 44.41% | 22.30% |
| Derivative | 1.62% | -3.69% | 53.54% | 1.81% |
| Securitized | 0.00% | 0.00% | 5.93% | 33.24% |
| Corporate | 0.00% | 0.00% | 9.41% | 43.16% |
| Government | 0.00% | 0.00% | 52.02% | 37.36% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | AMAYX % Rank | |
|---|---|---|---|---|
| US | 96.93% | 0.00% | 142.23% | 76.96% |
| Non US | 0.00% | 0.00% | 23.89% | 36.60% |
AMAYX - Expenses
Operational Fees
| AMAYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.64% | 0.01% | 8.02% | 61.56% |
| Management Fee | 0.45% | 0.00% | 1.20% | 57.52% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| AMAYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| AMAYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| AMAYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 4.00% | 0.00% | 283.00% | 2.64% |
AMAYX - Distributions
Dividend Yield Analysis
| AMAYX | Category Low | Category High | AMAYX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.26% | 0.00% | 14.51% | 27.72% |
Dividend Distribution Analysis
| AMAYX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| AMAYX | Category Low | Category High | AMAYX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.61% | -0.53% | 5.33% | 14.96% |
Capital Gain Distribution Analysis
| AMAYX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.028 | OrdinaryDividend |
| Oct 31, 2024 | $0.029 | OrdinaryDividend |
| Sep 30, 2024 | $0.026 | OrdinaryDividend |
| Aug 30, 2024 | $0.030 | OrdinaryDividend |
| Jul 31, 2024 | $0.028 | OrdinaryDividend |
| Apr 30, 2024 | $0.027 | OrdinaryDividend |
| Mar 28, 2024 | $0.027 | OrdinaryDividend |
| Feb 29, 2024 | $0.027 | OrdinaryDividend |
| Jan 31, 2024 | $0.030 | OrdinaryDividend |
| Dec 29, 2023 | $0.029 | OrdinaryDividend |
| Nov 30, 2023 | $0.028 | OrdinaryDividend |
| Oct 31, 2023 | $0.027 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.025 | OrdinaryDividend |
| Jun 30, 2023 | $0.028 | OrdinaryDividend |
| May 31, 2023 | $0.028 | OrdinaryDividend |
| Apr 28, 2023 | $0.026 | OrdinaryDividend |
| Mar 31, 2023 | $0.030 | OrdinaryDividend |
| Feb 28, 2023 | $0.025 | OrdinaryDividend |
| Jan 31, 2023 | $0.028 | OrdinaryDividend |
| Dec 30, 2022 | $0.027 | OrdinaryDividend |
| Nov 30, 2022 | $0.026 | OrdinaryDividend |
| Oct 31, 2022 | $0.025 | OrdinaryDividend |
| Sep 30, 2022 | $0.026 | OrdinaryDividend |
| Aug 31, 2022 | $0.025 | OrdinaryDividend |
| Jul 29, 2022 | $0.024 | OrdinaryDividend |
| Jun 30, 2022 | $0.024 | OrdinaryDividend |
| May 31, 2022 | $0.024 | OrdinaryDividend |
| Apr 29, 2022 | $0.024 | OrdinaryDividend |
| Mar 31, 2022 | $0.023 | OrdinaryDividend |
| Feb 28, 2022 | $0.020 | OrdinaryDividend |
| Jan 31, 2022 | $0.022 | OrdinaryDividend |
| Dec 31, 2021 | $0.022 | OrdinaryDividend |
| Nov 30, 2021 | $0.021 | OrdinaryDividend |
| Oct 29, 2021 | $0.022 | OrdinaryDividend |
| Sep 30, 2021 | $0.022 | OrdinaryDividend |
| Aug 31, 2021 | $0.022 | OrdinaryDividend |
| Jul 30, 2021 | $0.024 | OrdinaryDividend |
| Jun 30, 2021 | $0.024 | OrdinaryDividend |
| May 28, 2021 | $0.024 | OrdinaryDividend |
| Apr 30, 2021 | $0.027 | OrdinaryDividend |
| Mar 31, 2021 | $0.025 | OrdinaryDividend |
| Feb 26, 2021 | $0.024 | OrdinaryDividend |
| Jan 29, 2021 | $0.027 | OrdinaryDividend |
| Dec 31, 2020 | $0.027 | OrdinaryDividend |
| Nov 30, 2020 | $0.024 | OrdinaryDividend |
| Oct 30, 2020 | $0.027 | OrdinaryDividend |
| Sep 30, 2020 | $0.026 | OrdinaryDividend |
| Aug 31, 2020 | $0.025 | OrdinaryDividend |
| Jul 31, 2020 | $0.029 | OrdinaryDividend |
| Jun 30, 2020 | $0.026 | OrdinaryDividend |
| May 29, 2020 | $0.028 | OrdinaryDividend |
| Apr 30, 2020 | $0.027 | OrdinaryDividend |
| Mar 31, 2020 | $0.028 | OrdinaryDividend |
| Feb 28, 2020 | $0.027 | OrdinaryDividend |
| Jan 31, 2020 | $0.031 | OrdinaryDividend |
| Dec 31, 2019 | $0.029 | OrdinaryDividend |
| Nov 29, 2019 | $0.030 | OrdinaryDividend |
| Oct 31, 2019 | $0.030 | OrdinaryDividend |
| Sep 30, 2019 | $0.027 | OrdinaryDividend |
| Aug 30, 2019 | $0.032 | OrdinaryDividend |
| Jul 31, 2019 | $0.031 | OrdinaryDividend |
| Dec 06, 2017 | $0.001 | CapitalGainShortTerm |
| Dec 06, 2017 | $0.011 | CapitalGainLongTerm |
AMAYX - Fund Manager Analysis
Managers
Terrance Hults
Start Date
Tenure
Tenure Rank
Jun 01, 1995
27.02
27.0%
Terrance T. Hults is a member of the Tax-Exempt Fixed-Income Investment Policy Group. Prior to joining the firm, he was an associate in the Municipal Derivative Products department at Merrill Lynch Capital Markets, where he specialized in securities arbitrage. These transactions involved issuers and investors, as well as proprietary trading and utilized futures, options, interest-rate swaps, and other over-the-counter derivative structures. Mr. Hults received a BA in economics from Williams College and an MBA in finance from Columbia University. Location: New York
Matthew Norton
Start Date
Tenure
Tenure Rank
Jan 28, 2016
6.34
6.3%
Matthew Norton is a Senior Vice President and Co-Head of Municipal Portfolio Management, responsible for overseeing municipal bond investing at AB. He is also a member of the Municipal Impact Investment Policy Group. Previously, Mr. Norton was a portfolio manager on the Municipal Bond team. He joined AB in 2005, focusing primarily on research in tax-exempt and taxable fixed-income markets. Prior to joining the firm, Mr. Norton worked as a statistical research analyst at St. Lawrence University, evaluating the accuracy of biometric devices. He holds a BS in economics and mathematics from St. Lawrence University and an MBA in economics and quantitative finance from the Leonard N. Stern School of Business at New York University. Location: New York
Andrew Potter
Start Date
Tenure
Tenure Rank
Sep 28, 2018
3.67
3.7%
Andrew Potter is a Vice President and Portfolio Manager on the Municipal Bond team, which oversees tax-exempt investing at AllianceBernstein. He joined the team in 2007 as an associate portfolio manager (APM), responsible for monitoring risk exposures and implementing investment strategy across the firm’s tax-aware fixed-income platform. In 2013, Mr. Potter took on additional responsibility as supervisor for the team’s APMs. He moved into his current role in 2015, shifting his focus toward developing portfolio strategy. Mr. Potter holds a BA in physics with a minor in economics from Colgate University. He is a CFA charterholder and a member of the CFA Society New York. Location: New York
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
