AB Income Fund
AB BOND FUND, INC. · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
AB Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Fund is to seek high current income consistent with preservation of capital.
The fund seeks high current income by investing at least 80% of assets in income-producing securities, with at least 65% in investment-grade fixed-income instruments and at least 65% in U.S. dollar-denominated securities; the adviser selects securities based on credit quality, interest-rate sensitivity, and overall portfolio risk characteristics. The fund may hold up to 35% in below-investment-grade securities and uses derivatives, including swaps and futures, to establish or alter fixed-income exposure, potentially creating aggregate leverage that exceeds net assets.
| Share class | Gross | Net |
|---|---|---|
| AKGAX | 0.84% | 0.80% |
| AKGCX | 1.59% | 1.54% |
| ACGYX | 0.59% | 0.54% |
| ACGZX | 0.54% | 0.54% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 290.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 76.96% |
| Securitized | 44.63% |
| Derivatives | 0.49% |
| Stocks | 0.27% |
| Loans | 0.16% |
| Cash & short-term | -0.23% |
These positions come to 122.28% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: UMBS, TBA ×5, Government National Mortgage Association, United States Treasury ×2
Largest exited: UMBS, TBA ×6, Government National Mortgage Association, Spain Government Bonds
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.44% | +13.21% | -0.10% | 3.75% | -5.95% | |
| +3.67% | +10.88% | -3.60% | 3.75% | -6.16% | |
| +4.70% | +14.24% | +1.33% | 3.74% | -5.68% | |
| +4.71% | +14.24% | +1.42% | 3.63% | -5.68% |
These classes hold the same portfolio, so the 5.02pp spread over 5 years is the cost difference between them — roughly 1.00pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 88.4% |
| Floating rate | 11.3% |
| Zero-coupon or unclassified | 0.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.4% |
| 1-3y | 15.2% |
| 3-5y | 17.5% |
| 5-10y | 23.3% |
| 10y+ | 43.6% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 76% |
| Credit spreads | 24% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.39 yr |
| High yield | +0.60 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.77 yr | 12% |
| 5 yr | 2.18 yr | 35% |
| 10 yr | 2.26 yr | 36% |
| 30 yr | 1.02 yr | 16% |
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.31 yr | 15% |
| 5 yr | 1.05 yr | 53% |
| 10 yr | 0.51 yr | 26% |
| 30 yr | 0.12 yr | 6% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.01 | +0.00 | $1.5k | $1.0k |
| 1 yr | +0.77 | +0.22 | +0.09 | $50.6k | $19.4k |
| 5 yr | +2.18 | +0.64 | +0.41 | $145.1k | $93.3k |
| 10 yr | +2.26 | +0.41 | +0.10 | $93.4k | $22.5k |
| 30 yr | +1.02 | +0.11 | +0.01 | $25.2k | $1.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 6.24 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury3.88% · due 2032-08-31 | 5.21% | $118.56M | — |
| — | United States Treasury4.13% · due 2028-07-31 | 3.92% | $89.08M | — |
| — | UMBS, TBA3.00% · due 2054-05-01 | 3.51% | $79.79M | — |
| — | United States Treasury4.13% · due 2027-09-30 | 3.05% | $69.44M | — |
| — | UMBS, TBA5.00% · due 2056-05-01 | 2.93% | $66.57M | — |
| — | United States Treasury4.50% · due 2044-02-15 | 2.80% | $63.66M | — |
| — | Fannie Mae2.50% · due 2050-12-01 | 2.75% | $62.46M | — |
| — | United States Treasury4.25% · due 2054-02-15 | 2.58% | $58.71M | — |
| — | UMBS, TBA4.00% · due 2054-05-01 | 2.04% | $46.35M | — |
| — | Government National Mortgage Association4.50% · due 2054-05-01 | 2.03% | $46.18M | — |
Top 10 positions are 30.82% of net assets, top 25 54.99%, across 349 issuers.
See more of this fund's book
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