TAFL Fees and Costs — AB Tax-Aware Long Municipal ETF
Data updated: 2026-07-24
The net expense ratio is 0.28%. There are no sales loads or redemption fees. Portfolio turnover was 50%.
TAFL Fees and Expenses
Annual operating expenses and sales charges of TAFL. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.28% |
| Fee waiver | — |
| Net expense ratio | 0.28% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
TAFL Costs Over Time
On $10,000 invested in TAFL, assuming 5% a year before costs, total costs come to $178 over 5 years, cutting the return by 0.29% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.28%) | $29 | $92 | $162 |
| Lost growth on money paid in costs | $0 | $5 | $16 |
| Total costs | $29 | $97 | $178 |
| Value after costs | $10,471 | $11,479 | $12,585 |
| Impact on return, per year | 0.29% | 0.29% | 0.29% |
TAFL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $79.9M
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
TAFL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $23.3M | 32.67% |
| Guardian Capital LP | $8.7M | 12.14% |
| J.P. Morgan Securities LLC | $7.8M | 10.88% |
| BNY Capital Markets, LLC | $7.3M | 10.29% |
| Morgan Stanley & Co. LLC | $6.2M | 8.75% |
| Wells Fargo Securities, LLC | $5.3M | 7.50% |
| TD Securities (USA) LLC | $4.5M | 6.32% |
| RBC Capital Markets, LLC | $4.3M | 6.06% |
| U.S. Bancorp Investments, Inc. | $2.1M | 2.95% |
| Barclays Capital Inc. | $1.7M | 2.45% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.