Fund Evaluator:
AB Impact Municipal Income (ABIMX)
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Best Performing in Miscellaneous Fixed Income Over the Last Year
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Fund Details
AB Impact Municipal Income Overview
AB Impact Municipal Income (ABIMX) is an actively managed Taxable Bond Miscellaneous Fixed Income fund. AllianceBernstein launched the fund in 2017.
The investment seeks to earn the highest level of current income, exempt from federal taxation, that is available consistent with what the Adviser considers to be an appropriate level of risk. The fund pursues its objective by investing principally in high-yielding municipal securities of any credit quality that (i) score highly on the Adviser's environmental, social and governance ("ESG") criteria and (ii) are deemed by the Adviser to have an environmental or social impact in underserved or low socio-economic communities. The fund invests at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax.
About AB Impact Municipal Income (ABIMX)
There are 3 members of the management team with an average tenure of 3.71 years: Daryl Clements (2025), Matthew Norton (2017), Andrew Potter (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg Municipal TR USD index with a weighting of 100%. AB Impact Municipal Income has 250 securities in its portfolio. The top 10 holdings constitute 16.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
AB Impact Municipal Income is part of the Fixed Income global asset class and is within the Taxable Bond fund group. AB Impact Municipal Income has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.3% (99.3% domestic bond, 0.0% foreign bond and 0.0% convertible bond). AB Impact Municipal Income has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $624 million in total assets, which is below the $732 million average for the Miscellaneous Fixed Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ABIMX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The AB Impact Municipal Income expense ratio is low compared to funds in the Miscellaneous Fixed Income category. AB Impact Municipal Income has an expense ratio of 0.00%, which is 100% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. AB Impact Municipal Income has a portfolio turnover rate of 21%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 120% for the Miscellaneous Fixed Income category.
Recently, in the month of June 2026, AB Impact Municipal Income returned 1.0%, which earned it a grade of A, as the Miscellaneous Fixed Income category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
AB Impact Municipal Income has a trailing yield of 4.24%, which is below the 5.96% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
AB Impact Municipal Income Grades
Year to date, the fund has returned 3.2%, 1.1 percentage points better than the category, which translates into a grade of B. The fund has returned 8.7% over the past year (grade of A), 5.0% over the past three years (grade of F) and 1.3% per year over the past five years (grade of C).
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ABIMX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ABIMX Return (NAV) | 1.0% | 3.1% | 8.7% | 5.0% | 1.3% | na |
| ABIMX Grade | A | A | A | F | C | na |
| +/- Category | 0.5% | 1.2% | 2.2% | -2.3% | -0.8% | na |
| Miscellaneous Fixed Income Avg | 0.5% | 1.9% | 6.5% | 7.2% | 2.1% | 3.1% |
| ABIMX Tax Cost Ratio | na | na | 1.7% | 1.6% | 1.2% | na |
ABIMX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ABIMX Return (NAV) | 3.2% | 3.5% | 3.0% | 8.9% | -12.3% | 4.3% | 5.9% | 10.7% | 1.1% | na | na |
| ABIMX Grade | B | F | D | B | C | B | C | B | B | na | na |
| +/- Category | 1.1% | -4.4% | -3.2% | 0.1% | -1.8% | 2.1% | -0.3% | 1.7% | 0.8% | na | na |
| Miscellaneous Fixed Income Avg | 2.1% | 7.9% | 6.3% | 8.8% | -10.6% | 2.2% | 6.2% | 9.0% | 0.4% | 5.0% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 7.6% |
| Total Risk Index: | 0.63 - Below Average |
| Category Risk Index: | 1.48 - High |
| Category Risk Grade: | F (94% Rank) |
| Beta: | 1.16 |
| R-Squared: | 71% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.2% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $624 Mil |
| Fund Total Assets: | $ 624 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 21% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.8 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Norton Matthew (2017), Potter Andrew (2025), Clements Daryl (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 250 |
| % in Top 10 Holdings: | 16.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.3% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.7% |
Purchase Information
| Fund Family: | AllianceBernstein |
| Phone Number: | 800-221-5672 |
| Website: | www.AllianceBernstein.com |
| Status: | Open |
| Inception Date: | September 12, 2017 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.00% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.28% |
| Share Class: | AB Impact Municipal Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
