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15 important things you should know about AllianceBernstein AMACX mutual fund

Updated: September 19, 2020
N/A
Bull Case
  • No Bull case arguments for now!
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • 5-year return below the benchmark
  • 10-year return below the benchmark
  • 15-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

Before we start: if you’re looking for AMACX “stock” price, you can quickly find it out by visiting Finny and typing "AMACX quote". If you’re looking for a quick scoop on AMACX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "AMACX". You’ll get all this info in one place.

Are you looking to buy or sell AMACX? Or perhaps you’re looking for AMACX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this AMACX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: AMACX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: AMACX buy or sell; the pros and cons of investing in AMACX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to AMACX.

And here is the list of questions we’ll answer:

  1. Describe AB Municipal Income Fund II: AB Massachusetts Portfolio; Class C Shares (AMACX).
  2. What are AMACX holdings?
  3. What is AMACX performance? What are AMACX historical returns?
  4. How many up and down years did AMACX have historically?
  5. What is AMACX dividend yield?
  6. What is AMACX minimum initial investment amount?
  7. What is AMACX expense ratio?
  8. Does AMACX have any sales loads or 12b-1 distribution expenses?
  9. What is AMACX tax efficiency (tax-cost ratio)?
  10. What is AMACX beta? How would you assess AMACX risk?
  11. What is AMACX Sharpe ratio?
  12. What is AMACX Finny Score? AMACX buy or sell?
  13. What are the pros of investing in AMACX? What are AMACX buy reasons?
  14. What are the cons of investing in AMACX? What are AMACX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe AB Municipal Income Fund II: AB Massachusetts Portfolio; Class C Shares (AMACX).

The Fund seeks to earn the highest level of current income exempt from federal and state income taxation, that is available without assuming what Alliance considers to be undue risk by investing principally in high-yielding, predominantly medium-quality, intermediate and long term municipal debt obligations.

2. What are AMACX top holdings?

AMACX has 0 stock holdings and 109 bond holdings.

The top 6 holdings represent 17.24% of total assets. Here are the top holdings:

Name Symbol % Assets
MASSACHUSETTS ST WTR RES AUTH 5% N/A 3.48%
METROPOLITAN BOSTON TRAN PKG CORP MASS SYSTEMWIDE PKG REV 5% N/A 3.20%
MASSACHUSETTS ST 5% N/A 3.18%
MASSACHUSETTS ST DEV FIN AGY REV 5% N/A 2.79%
MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 5% N/A 2.34%
ARIZONA SPORTS & TOURISM AUTH SR REV 5% N/A 2.25%

3. What is AMACX performance? What are AMACX historical returns?

AMACX has generated the following returns:

  • 1-month return is -0.45%;
  • 3-month return is 2.71%;
  • 1-year return is 1.56%;
  • 3-year return is 2.33%;
  • 5-year return is 2.36%;
  • 10-year return is 2.65%;
  • 15-year return is 3.06%.

4. How many up and down years did AMACX have historically?

In the last 10 years, AMACX had 7 up years and 3 down years. See Performances

5. What is AMACX dividend yield?

AMACX yield is 2.13%.

6. What is AMACX minimum initial investment amount?

AMACX minimum initial investment amount is N/A.

7. What is AMACX expense ratio?

AMACX expense ratio is 1.53%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses. See Expenses

8. Does AMACX have any sales loads or 12b-1 distribution expenses?

AMACX 12b-1 distribution fee is 1. AMACX front-end sales load is 0. AMACX back-end sales load is 1.

9. What is AMACX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0%;
  • 3-year ax cost ratio is 0.01%.

See Taxes

10. What is AMACX beta? How would you assess AMACX risk?

  • 3-year beta is 1.01;
  • 5-year beta is 0.96;
  • 10-year beta is 1.03;
  • 15-year beta is 0.91.

See Risks

11. What is AMACX Sharpe ratio?

  • 3-year Sharpe ratio is 0.15;
  • 5-year Sharpe ratio is 0.31;
  • 10-year Sharpe ratio is 0.56.

See Risks

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 0. Our quantitative analysis shows 0 reasons to buy and 7 reasons to sell it, resulting in the Finny Score of 0.

13. What are the pros of investing in AMACX? What are AMACX buy reasons?

We don't see any strong reasons to buy AMACX.

14. What are the cons of investing in AMACX? What are AMACX negatives?

The following are AMACX weaknesses from our perspective:

  • <strong>AMACX net assets</strong> are $25.30 million. This fund is not a popular choice with retail investors.
  • <strong>AMACX 3-year return</strong> is 2.33%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 4.07%.
  • <strong>AMACX 5-year return</strong> is 2.36%, which is lower than the 5-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 3.97%.
  • <strong>AMACX 10-year return</strong> is 2.65%, which is lower than the 10-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 4%.
  • <strong>AMACX 15-year return</strong> is 3.06%, which is lower than the 15-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 4.31%.
  • <strong>AMACX expense ratio</strong> is 1.53%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 and deferred sales fee. The maximum 12b1 fee is 1%, while the maximum deferred sales load is 1%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Deferred sales load is a back-end sales charge and is imposed when an investor redeems shares.
In the AMACX review, we covered AMACX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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