Fund Evaluator:
AB Taxable Multi-Sector Income (CSHTX)
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Fund Details
AB Taxable Multi-Sector Income Overview
AB Taxable Multi-Sector Income (CSHTX) is an actively managed Taxable Bond Miscellaneous Fixed Income fund. AllianceBernstein launched the fund in 2010.
The investment seeks to generate income and price appreciation. The fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities. It may invest in a broad range of securities in both developed and emerging markets. The fund may invest across all fixed-income sectors, including corporate and U.S. and non-U.S. government securities. It may invest up to 50% of its assets in below investment grade bonds ("junk bonds").
About AB Taxable Multi-Sector Income (CSHTX)
There are 2 members of the management team with an average tenure of 9.65 years: Scott DiMaggio (2010), Matthew Sheridan (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Agg ex Gov TR USD index with a weighting of 100%. AB Taxable Multi-Sector Income has 300 securities in its portfolio. The top 10 holdings constitute 11.0% 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 Taxable Multi-Sector Income is part of the Fixed Income global asset class and is within the Taxable Bond fund group. AB Taxable Multi-Sector Income has 10.9% 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 111.3% (100.5% domestic bond, 10.9% foreign bond and 0.0% convertible bond). AB Taxable Multi-Sector Income has -11.4% of the portfolio in cash.
Assets Under Management
The fund has $499 million in total assets, which is below the $734 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.
CSHTX 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 Taxable Multi-Sector Income expense ratio is low compared to funds in the Miscellaneous Fixed Income category. AB Taxable Multi-Sector 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 Taxable Multi-Sector Income has a portfolio turnover rate of 59%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 115% for the Miscellaneous Fixed Income category.
Recently, in the month of July 2026, AB Taxable Multi-Sector Income returned 0.1%, which earned it a grade of B, as the Miscellaneous Fixed Income category had an average return of -0.7%. 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 Taxable Multi-Sector Income has a trailing yield of 4.07%, which is below the 5.98% 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 Taxable Multi-Sector Income Grades
Year to date, the fund has returned 1.6%, 0.0 percentage points better than the category, which translates into a grade of C. The fund has returned 3.8% over the past year (grade of D), 5.3% over the past three years (grade of D) and 3.0% per year over the past five years (grade of B) and 2.7% per year over the past 10 years (grade of D).
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CSHTX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CSHTX Return (NAV) | 0.1% | 0.7% | 3.8% | 5.3% | 3.0% | 2.7% |
| CSHTX Grade | B | B | D | D | B | D |
| +/- Category | 0.8% | 0.4% | -1.9% | -1.4% | 1.3% | -0.3% |
| Miscellaneous Fixed Income Avg | -0.7% | 0.3% | 5.7% | 6.7% | 1.7% | 3.0% |
| CSHTX Tax Cost Ratio | na | na | 2.0% | 1.8% | 1.4% | 1.2% |
CSHTX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CSHTX Return (NAV) | 1.6% | 5.7% | 5.3% | 6.1% | -3.0% | 0.4% | 2.8% | 5.2% | 1.8% | 1.7% | 2.0% |
| CSHTX Grade | C | D | C | D | A | D | F | F | B | F | D |
| +/- Category | 0.0% | -2.2% | -1.0% | -2.7% | 7.6% | -1.8% | -3.3% | -3.8% | 1.4% | -3.2% | -2.2% |
| Miscellaneous Fixed Income Avg | 1.5% | 7.9% | 6.3% | 8.8% | -10.6% | 2.2% | 6.2% | 9.0% | 0.4% | 5.0% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 1.4% |
| Total Risk Index: | 0.11 - Low |
| Category Risk Index: | 0.26 - Low |
| Category Risk Grade: | A (4% Rank) |
| Beta: | 0.22 |
| R-Squared: | 85% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $499 Mil |
| Fund Total Assets: | $ 499 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 59% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 15.9 years | |||
| Average Tenure: 9.7 years | |||
| Managers (Year): DiMaggio Scott (2010), Sheridan Matthew (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 300 |
| % in Top 10 Holdings: | 11.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 100.5% |
| Foreign Bond: | 10.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -11.4% |
Purchase Information
| Fund Family: | AllianceBernstein |
| Phone Number: | 800-221-5672 |
| Website: | www.AllianceBernstein.com |
| Status: | Open |
| Inception Date: | September 15, 2010 |
| 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 (%): | 0.29% |
| Share Class: | AB Taxable Multi-Sector Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
