Alliance Bernstein - AB Tax-Aware Intermediate Municipal ETF
TAFM
New York Stock Exchange Arca25.50
USD
+0.03
(+0.20%)
Alliance Bernstein - AB Tax-Aware Intermediate Municipal ETF
TAFM
(New York Stock Exchange Arca)
Recent
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25.50
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- -
ROIC.AI
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- AB Tax-Aware Intermediate Municipal ETF AB Tax-Aware Intermediate Municipal ETF (TAFM) is an actively managed exchange-traded fund that seeks relative stability of principal and a moderate rate of after-tax return and income by investing principally in a national portfolio of municipal and taxable fixed-income securities, with at least 80% of its assets allocated to tax-exempt municipal bonds and up to 20% in taxable bonds including corporate securities; it targets an intermediate effective duration of 4 to 7 years, emphasizing high-grade municipals, municipal credit, and selective lower-rated or taxable opportunities to optimize after-tax performance while managing interest-rate exposure and credit risk through AllianceBernstein L.P.'s fixed-income platform and proprietary technology. The fund offers diversified exposure across U.S. issuers, sectors, and maturities, primarily investment-grade municipal bonds from states like New York, California, and Illinois, supplemented by minimal cash and asset-backed securities; it provides monthly dividends, with recent payouts around $0.08 per share, and maintains an expense ratio of 0.28%, positioning it for investors seeking tax-advantaged income in intermediate-term municipal strategies. Launched on December 13, 2023, and domiciled in the United States with shares listed on NYSE Arca, TAFM operates within the broader municipal bond segment of the fixed-income market, managed by AllianceBernstein L.P. professionals including Matthew Norton, Andrew Potter, and Daryl Clements, with administrative services from State Street Bank and Trust Company. As part of AllianceBernstein's expanding active ETF suite, which has grown to over $10 billion in assets by late 2025 through strong net inflows and performance, TAFM has more than doubled in size to approximately $285 million in assets under management amid robust demand for municipal strategies; it launched alongside complementary products like AB Tax-Aware Long Municipal ETF (TAFL), AB Corporate Bond ETF (EYEG), and AB Core Plus Bond ETF (CPLS) in 2023, reflecting AllianceBernstein's strategic push into actively managed fixed-income ETFs with partnerships including Jane Street as lead market maker and recent recognitions such as the Money Management Institute/Barron's 2025 Industry Award for its municipal platform.
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