Fund Evaluator:

AB Municipal Income New York Advisor Overview

AB Municipal Income New York Advisor (ALNVX) is an actively managed Municipal Bond Muni New York Intermediate fund. AllianceBernstein launched the fund in 2008.

The investment seeks to earn the highest level of current income exempt from both federal income tax and New York State and City income tax that is available without assuming what the Adviser considers to be undue risk to principal or income. The fund invests 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. It invests at least 80% of its net assets in municipal securities of New York or municipal securities with interest that is otherwise exempt from New York state income tax.

About AB Municipal Income New York Advisor (ALNVX)

There are 3 members of the management team with an average tenure of 7.48 years: Daryl Clements (2022), Matthew Norton (2016), Andrew Potter (2018). 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 Municipal Income New York Advisor has 235 securities in its portfolio. The top 10 holdings constitute 18.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

AB Municipal Income New York Advisor is part of the Fixed Income global asset class and is within the Municipal Bond fund group. AB Municipal Income New York Advisor has 4.2% 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 98.5% (94.3% domestic bond, 4.2% foreign bond and 0.0% convertible bond). AB Municipal Income New York Advisor has 1.5% of the portfolio in cash.

Assets Under Management

The fund has $263 million in total assets, which is above the $104 million average for the Muni New York Intermediate 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.

ALNVX 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 Municipal Income New York Advisor expense ratio is average compared to funds in the Muni New York Intermediate category. AB Municipal Income New York Advisor has an expense ratio of 0.51%, which is 33% 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 Municipal Income New York Advisor has a portfolio turnover rate of 16%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 21% for the Muni New York Intermediate category.

Recently, in the month of August 2026, AB Municipal Income New York Advisor returned -0.6%, which earned it a grade of F, as the Muni New York Intermediate category had an average return of -0.2%. 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 Municipal Income New York Advisor has a trailing yield of 3.30%, which is above the 2.91% category average. The fund normally distributes its income monthly and its capital gains annually.

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 Municipal Income New York Advisor Grades

Year to date, the fund has returned 0.7%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 4.9% over the past year (grade of B), 3.7% over the past three years (grade of A) and 0.6% per year over the past five years (grade of B) and 1.8% per year over the past 10 years (grade of A).

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