AB Short Duration High Yield Portfolio
Data updated: 2024-05-24
C000107580 — AB Short Duration High Yield Portfolio. Short Corporate Bond · $708.78M AUM · 0.70% expense ratio. Holdings, fees, performance and SEC filings.
C000107580 Fund Overview
AB Short Duration High Yield Portfolio is a US mutual fund managed by Ab Bond Fund, Inc., categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ab Bond Fund, Inc.
- Category: Short Corporate Bond
- Assets under management: $708.78M
- 1-year return: 10.2%
- SEC CIK: 0000003794
- SEC series ID: S000034979
- Share class ID: C000107580
C000107580 Investment Objective and Strategy
AB Short Duration High Yield Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ab Bond Fund, Inc..
Investment objective
The Fund's investment objective is to seek the highest level of income that is available without assuming what the Adviser considers to be undue risk to principal.
Principal investment strategy
"The Fund invests primarily in fixed-income securities, with an emphasis on corporate fixed-income securities rated below investment grade (commonly known as ""junk bonds""), unrated securities considered by the Adviser to be of comparable quality, and related derivatives. Under normal circumstances, the Fund will maintain a dollar-weighted average duration of less than four years, although it may invest in individual fixed-income securities with durations in excess of four years. The Fund may also invest in investment grade fixed-income securities, high-yield securities of governments and government-related issuers, loan participations and, to a lesser extent, equity securities, and derivatives related to these instruments. The Fund will not invest more than 10% of its net assets in securities rated at or below Caa1 by Moody's Investors Service (""Moody's""), CCC+ by S&P Global Ratings (""S&P"") or CCC by Fitch Ratings (""Fitch"") at the time of purchase.
(For the purpose of this 10% limit, the Fund will rely on the highest rating from any of the three rating agencies, and the notional amount of derivatives related to these instruments will be counted.) The Fund will invest on a global basis, including securities of issuers in both developed and emerging market countries. The Fund may invest in securities denominated in foreign currencies, although it expects to use hedging instruments frequently to attempt to limit the currency exposure resulting from such investments. In selecting securities for purchase or sale by the Fund, the Adviser will attempt to take advantage of inefficiencies that it believes exist in the global fixed-income markets. These inefficiencies arise from investor behavior, market complexity, and the investment limitations to which investors are subject.
The Adviser will combine its quantitative forecasts with fundamental economic and credit research in seeking to exploit these inefficiencies. The Adviser will employ strategies to manage the Fund's volatility relative to the global high-yield market. Such strategies may include shortening the duration of the Fund, adding higher rated investments, investing in various fixed-income sectors with relatively low correlation among them, and using hedging strategies that seek to provide protection from substantial market downturns. The Adviser will utilize different combinations of the above strategies at different points in time, taking into consideration, among other factors, the shape of the credit curve, the relative effect on yield associated with changes in credit quality, and the cost of hedging strategies.
The Fund expects to use derivatives, such as options, futures contracts, forwards and swaps, to a significant extent. Derivatives may provide more efficient and economical exposure to market segments than direct investments, and may also be a quicker and more efficient way to alter the Fund's exposure. For example, the Fund may use credit default and interest rate swaps to gain exposure to the fixed-income markets. In determining when and to what extent to enter into derivative transactions, the Adviser will consider factors such as the risks and returns of these investments relative to direct investments and the costs of such transactions. Derivatives such as options and forwards may also be used for hedging purposes, including to hedge against interest rate, credit market and currency fluctuations."
C000107580 Holdings
Top 10 holdings of AB Short Duration High Yield Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Alliance Bernstein | 2.99% |
| Wr Grace Holding LLC | 0.66% |
| Mph Acquisition Holdings | 0.57% |
| Organon & Co/org | 0.55% |
| Abc Supply Co., Inc. | 0.47% |
| Ingevity Corp. | 0.47% |
| Jefferies Fin LLC / Jfin | 0.47% |
| Marriott Ownership Resor | 0.47% |
| Hsbc Holdings PLC | 0.47% |
| Lsb Industries | 0.46% |
C000107580 Portfolio Allocation
Asset-class allocation of AB Short Duration High Yield Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 93.9% |
| Cash & Equivalents | 3.0% |
| Loans | 1.1% |
| Securitized | 1.1% |
| Other | 0.1% |
| Derivatives | 0.1% |
C000107580 Performance
Total returns for C000107580 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 10.2% |
| 3 years (annualised) | 2.3% |
C000107580 Risk Information
Risk metrics for C000107580, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.8%
C000107580 Costs and Fees
C000107580 costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 0.78%
- Portfolio turnover: 67%
- Brokerage commissions: 0.09 bps of average net assets (SEC N-CEN)
C000107580 Cashflows
Over the 12 months to 2024-03, AB Short Duration High Yield Portfolio had net inflows of $270.98M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-03 | $15.99M |
| 2024-02 | $20.55M |
| 2024-01 | $3.40M |
| 2023-12 | $36.17M |
| 2023-11 | $72.25M |
| 2023-10 | $18.62M |
C000107580 Debt Constituents
Largest debt holdings of AB Short Duration High Yield Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Wr Grace Holding LLC | 0.66% |
| Mph Acquisition Holdings | 0.57% |
| Organon & Co/org | 0.55% |
| Abc Supply Co., Inc. | 0.47% |
| Ingevity Corp. | 0.47% |
| Jefferies Fin LLC / Jfin | 0.47% |
| Marriott Ownership Resor | 0.47% |
| Hsbc Holdings PLC | 0.47% |
| Lsb Industries | 0.46% |
| Cvr Partners/cvr Nitroge | 0.46% |
C000107580 Prospectus and SEC Filings
Official AB Short Duration High Yield Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-01-26
- Prospectus (485BPOS) — filed 2023-06-30
- Prospectus supplement (497) — filed 2022-02-02
- Portfolio holdings (N-PORT) — filed 2024-05-24
- Portfolio holdings (N-PORT) — filed 2024-02-27
- Portfolio holdings (N-PORT) — filed 2023-11-22
- Annual census (N-CEN) — filed 2023-12-11
- Annual census (N-CEN) — filed 2022-12-06
Related Funds
Other Short Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.