AB Municipal Income Fund California Portfolio Advisor Class (ALCVX)
| Fund Assets | 1.21B |
| Expense Ratio | 0.50% |
| Min. Investment | $0.00 |
| Turnover | 23.00% |
| Dividend (ttm) | 0.36 |
| Dividend Yield | 3.57% |
| Dividend Growth | 5.43% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 10.18 |
| YTD Return | -1.43% |
| 1-Year Return | -0.62% |
| 5-Year Return | 2.38% |
| 52-Week Low | 10.03 |
| 52-Week High | 10.75 |
| Beta (5Y) | n/a |
| Holdings | 426 |
| Inception Date | Aug 6, 2008 |
About ALCVX
AB Municipal Income Fund California Portfolio Advisor Class is a mutual fund designed to provide investors with a high level of tax-exempt income, specifically targeting exemption from both federal and California state income taxes. The fund primarily invests in a diversified portfolio of high-yielding, predominantly investment grade municipal securities issued within California. At least 80% of its assets are allocated to municipal debt securities, benefiting residents of California through tax efficiency. Managed using a core-plus municipal bond strategy, the fund focuses on the intermediate segment of the yield curve, aiming to optimize risk-adjusted returns while maintaining moderate interest rate sensitivity. It holds hundreds of securities spanning essential public sectors, such as education, infrastructure, and utilities—including bonds issued by entities like the Los Angeles County and California State. The Advisor Class structure provides accessibility paired with a competitive expense ratio, reinforcing its role as a specialized vehicle for investors seeking stable, tax-efficient income with a California focus within their fixed income allocation.
Performance
ALCVX had a total return of -0.62% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.88%.
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 | $0.03007 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02992 | Jun 30, 2025 |
| May 30, 2025 | $0.0331 | May 30, 2025 |
| Apr 30, 2025 | $0.03077 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02917 | Mar 31, 2025 |
| Feb 28, 2025 | $0.02844 | Feb 28, 2025 |