Fund Evaluator:
AB Tax-Aware Fixed Income Opps C (ATCCX)
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Best Performing in Muni National Interm Over the Last Year
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Fund Details
AB Tax-Aware Fixed Income Opps C Overview
AB Tax-Aware Fixed Income Opps C (ATCCX) is an actively managed Municipal Bond Muni National Interm fund. AllianceBernstein launched the fund in 2013.
The investment seeks to maximize after-tax return and income. The fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities. It also invests, under normal circumstances, at least 65% of its total assets in municipal securities that pay interest that is exempt from federal income tax. The fund may also invest in forward commitments, zero-coupon municipal securities and variable, floating and inverse floating-rate municipal securities.
About AB Tax-Aware Fixed Income Opps C (ATCCX)
There are 3 members of the management team with an average tenure of 7.37 years: Daryl Clements (2022), Matthew Norton (2017), 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 Tax-Aware Fixed Income Opps C has 1050 securities in its portfolio. The top 10 holdings constitute 7.2% 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 Tax-Aware Fixed Income Opps C is part of the Fixed Income global asset class and is within the Municipal Bond fund group. AB Tax-Aware Fixed Income Opps C has 1.7% 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 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.7% (96.0% domestic bond, 1.7% foreign bond and 0.0% convertible bond). AB Tax-Aware Fixed Income Opps C has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $1 billion average for the Muni National Interm 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.
ATCCX 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 Tax-Aware Fixed Income Opps C expense ratio is high compared to funds in the Muni National Interm category. AB Tax-Aware Fixed Income Opps C has an expense ratio of 1.71%, which is 149% higher than its category average, making the fund expense ratio grade a F. 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 Tax-Aware Fixed Income Opps C has a portfolio turnover rate of 25%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 38% for the Muni National Interm category.
Recently, in the month of August 2026, AB Tax-Aware Fixed Income Opps C returned -0.4%, which earned it a grade of F, as the Muni National Interm category had an average return of -0.1%. 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 Tax-Aware Fixed Income Opps C has a trailing yield of 2.65%, which is below the 3.27% 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 Tax-Aware Fixed Income Opps C Grades
Year to date, the fund has returned -0.3%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.4% over the past year (grade of D), 3.4% over the past three years (grade of C) and 0.2% per year over the past five years (grade of F) and 1.5% per year over the past 10 years (grade of D).
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ATCCX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ATCCX Return (NAV) | -0.4% | -1.3% | 3.4% | 3.4% | 0.2% | 1.5% |
| ATCCX Grade | F | F | D | C | F | D |
| +/- Category | -0.3% | -0.3% | -0.3% | -0.0% | -0.5% | -0.1% |
| Muni National Interm Avg | -0.1% | -1.0% | 3.7% | 3.5% | 0.6% | 1.7% |
| ATCCX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
ATCCX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ATCCX Return (NAV) | -0.3% | 3.6% | 2.7% | 5.9% | -10.3% | 4.3% | 3.7% | 7.8% | -0.5% | 4.4% | -0.7% |
| ATCCX Grade | F | D | A | C | F | A | D | A | F | D | D |
| +/- Category | -0.6% | -0.6% | 0.8% | 0.2% | -2.0% | 2.6% | -0.5% | 1.2% | -1.3% | -0.4% | -0.5% |
| Muni National Interm Avg | 0.3% | 4.2% | 2.0% | 5.7% | -8.2% | 1.7% | 4.3% | 6.7% | 0.8% | 4.7% | -0.2% |
| Risk Measures | |
| Standard Deviation: | 5.8% |
| Total Risk Index: | 0.47 - Below Average |
| Category Risk Index: | 1.22 - High |
| Category Risk Grade: | F (91% Rank) |
| Beta: | 1.00 |
| R-Squared: | 97% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 2.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1504 Mil |
| Fund Total Assets: | $ 11 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 25% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.6 years | |||
| Average Tenure: 7.4 years | |||
| Managers (Year): Norton Matthew (2017), Potter Andrew (2018), Clements Daryl (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1050 |
| % in Top 10 Holdings: | 7.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 96.0% |
| Foreign Bond: | 1.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Fund Family: | AllianceBernstein |
| Phone Number: | 800-227-4618 |
| Website: | www.AllianceBernstein.com |
| Status: | Open |
| Inception Date: | December 11, 2013 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.71% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.69% |
| Share Class: | AB Tax-Aware Fixed Income Opps Adv |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
