Returns
| Series | 1 week | 1 month | 3 months | 6 months | YTD | 1 year | 3 years (ann.) | 5 years (ann.) | 10 years (ann.) | Since inception (ann.) |
|---|---|---|---|---|---|---|---|---|---|---|
| Market-price return | +0.97% | -8.20% | -16.44% | -13.84% | -13.12% | -13.76% | -0.18% | -8.84% | -3.97% | -2.31% |
| Market-price total return | +0.97% | -7.72% | -15.22% | -11.40% | -8.99% | -8.83% | +4.52% | -4.69% | +0.38% | +3.02% |
| NAV return | +2.53% | -5.48% | -13.34% | -12.55% | -12.91% | -13.06% | -2.58% | -7.20% | -3.75% | -1.27% |
| NAV total return | +2.53% | -5.03% | -12.18% | -10.27% | -9.14% | -8.54% | +1.51% | -3.42% | +0.18% | +4.07% |
Performance through Oct 14, 2026. Price and NAV returns are simple changes; total returns reinvest each distribution at the series value on its ex-date (first observation on/after). Periods of one year or less are cumulative; longer periods are annualised. Series are built from unadjusted prices plus the distribution record so no distribution is counted twice. Corporate actions: the vendor price series is split-adjusted; rights offerings and mergers are not restated — check Corporate Actions.
Growth of $10,000, five years
Risk statistics
| Statistic | Market price | NAV | Specification |
|---|---|---|---|
| Volatility, 1 year | 0.10% | 0.08% | annualised SD of daily total returns, √252 |
| Volatility, 3 years | 0.10% | 0.09% | as above |
| Volatility, 5 years | 0.11% | 0.09% | as above |
| Maximum drawdown, 3 years | -17.49% | -15.13% | peak-to-trough on the total-return index |
| Sharpe ratio, 3 years | 0.05 | -0.24 | excess over FRED DGS3MO (window average) (avg 4.52%), annualised |
| Sortino ratio, 3 years | 0.08 | -0.32 | downside deviation of excess returns |
| Beta vs. benchmark proxy, 3 years | 1.44 | — | MUB (U.S. municipal bond ETF proxy), daily, aligned dates |
| Correlation, 3 years | 0.59 | — | as above |
| Observations (3y) | 751 | — | minimum 60; rankings require 500 |
Market-price and NAV volatility are different quantities and are never mixed. NAV volatility for funds holding stale-marked or illiquid assets can understate economic risk.
CEF Explorer research page for AllianceBernstein National Municipal Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.