AB Municipal Income Fund California Portfolio Class A (ALCAX)
| Fund Assets | 1.21B |
| Expense Ratio | 0.75% |
| Min. Investment | $2,500 |
| Turnover | 23.00% |
| Dividend (ttm) | 0.31 |
| Dividend Yield | 2.95% |
| Dividend Growth | 5.97% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 10.18 |
| YTD Return | -1.51% |
| 1-Year Return | -0.54% |
| 5-Year Return | 1.89% |
| 52-Week Low | 10.03 |
| 52-Week High | 10.75 |
| Beta (5Y) | 0.24 |
| Holdings | 426 |
| Inception Date | Dec 29, 1986 |
About ALCAX
AB California Portfolio Class A is a mutual fund primarily focused on providing investors with high levels of current income that are exempt from both federal and California state income taxes. This fund utilizes a core-plus municipal bond strategy, investing predominantly in investment-grade municipal securities issued by entities across California, while selectively incorporating higher-yield municipal bonds to enhance overall yield potential. The portfolio is diversified across more than 400 holdings, including bonds issued by notable public entities such as school districts, infrastructure projects, and regional municipal authorities. Its management emphasizes interest rate risk control by concentrating exposure in the intermediate section of the yield curve, aiming for an optimal balance between income generation and interest rate sensitivity. As a municipal bond fund tailored specifically for California residents or those seeking state-specific tax advantages, AB California Portfolio Class A plays a significant role in the tax-exempt fixed income market and serves as a foundational holding for individuals prioritizing tax efficiency and municipal credit exposure within their portfolios.
Performance
ALCAX had a total return of -0.54% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.65%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| FCMAX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class A | 0.76% |
| FCTFX | Fidelity | Fidelity California Municipal Income Fund | 0.43% |
| FIJBX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class Z | 0.40% |
| FCMQX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class I | 0.53% |
| FCMTX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class M | 0.67% |
Top 10 Holdings
13.31% of assets| Name | Symbol | Weight |
|---|---|---|
| State of California - CALIFORNIA ST | n/a | 1.73% |
| California Infrastructure & Economic Development Bank - CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE | n/a | 1.61% |
| California Statewide Communities Development Authority - CALIFORNIA STWD CMNTYS DEV AUTH REVENUE | n/a | 1.54% |
| City of Los Angeles Department of Airports - LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | n/a | 1.45% |
| San Diego County Regional Airport Authority - SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE | n/a | 1.30% |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign - BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE | n/a | 1.21% |
| Bay Area Toll Authority - BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE | CA.BAYTRN 04.01.2056 | 1.18% |
| AB Government Money Market Portfolio | GMOXX | 1.15% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | n/a | 1.08% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | n/a | 1.07% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 31, 2025 | $0.02791 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02789 | Jun 30, 2025 |
| May 30, 2025 | $0.03086 | May 30, 2025 |
| Apr 30, 2025 | $0.0287 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02709 | Mar 31, 2025 |
| Feb 28, 2025 | $0.02642 | Feb 28, 2025 |