The Fund’s investment objective is to provide current income, consistent with preservation of capital.

Fund Overview

  • An actively managed ultra short duration ETF that looks to deliver higher levels of yield relative to cash or cash-like investments, while aiming for capital preservation and liquidity in all market cycles
  • Seeks to optimize for yield, stability and liquidity

Primary Investments

  • Invests primarily in investment-grade instruments with a duration of less than one year
  • May invest in corporate securities, Treasuries, repurchase agreements, money-market funds and high-quality money-market instruments such as commercial paper and certificates of deposit

Management Team

Lucas Krupa

Senior Portfolio Manager—Fixed Income

Janaki Rao

Director—US Multi-Sector

Matthew Sheridan, CFA

Director—US Multi-Sector Fixed Income

The 30-day median bid/ask spread represents the NBBO (national best bid and best offer) at the end of each 10 second interval of each trading day during the last 30 calendar days (i.e., 9:30:00 to 9:30:09AM EST all the way through 3:59:50 to 3:59:59PM EST) for the ETF. The spread of each NBBO (difference between the bid and ask) is divided by the midpoint of the NBBO (average of the bid and ask). The median of those values over the trailing 30 calendar days is shown as a percentage. Fund shares commenced trading on 09/14/2022. Until the time the Fund has been active for 30 days, Median Bid/Ask Spread will reflect rolling data for the number of days the Fund has been active.

Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may be only be acquired or redeemed from the Fund in creation units. Brokerage commissions will reduce returns.

Market Price is the official closing price as of the end of the prior business day from the primary listing exchange.

The performance shown represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Performance assumes reinvestment of distributions and does not account for taxes.

Investors should consider the investment objectives, risks, charges and expenses of the Fund/Portfolio carefully before investing. Please read the prospectus and/or summary prospectus carefully before investing.

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times.

Investors should consider the investment objectives, risks, charges and expenses of the Fund/Portfolio carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit our Literature Center or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

The net asset value (NAV) price is the value of one share of the Portfolio as of the date listed. The NAV does not take into account any initial sales charges that may apply when shares are purchased or redemption charges when shares are sold; if these sales charges were reflected, the Portfolio’s quoted performance would be lower. The NAV change is the change in value of one share of the Portfolio from the prior day’s value.

Total Returns

Because ETFs trade like stocks at current market prices, shareholders may pay more than a fund’s NAV when purchasing fund shares and may receive less than a fund’s NAV when selling fund shares. Before investing, consider the funds’ investment objectives, risks, charges and expenses. Review the prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Premium or discount is the positive or negative difference between the market price of an ETF share and the ETF’s current NAV per share, expressed as a percentage of the ETF’s current NAV per share. Fund shares commenced trading on 09/14/2022. Premium/Discount data will be available following the first calendar quarter of the Fund’s initial operations.

Distribution rate if monthly should have disclosure: The distribution yield for monthly paying Funds is calculated by annualizing actual dividends distributed for the monthly period ended on the date shown and dividing by the net asset value on the last business day for the same period.

Distribution yield is calculated on a 30-day rolling basis by annualizing the average of the dividends distributed over the most recent 30-day period and dividing that figure by the current NAV. For the AB Bond Inflation Strategy Fund and the AB Municipal Bond Inflation Strategy Fund, distribution yield is calculated by annualizing the most recent monthly dividend distribution and dividing that figure by the current NAV. The distribution yield calculation does not include long-term or short-term capital gains distributions.

The reinvest price is the net asset value (NAV) price. The NAV price is the value of one share of the Fund as of the Ex Date. The NAV does not take into account any sales charges that may apply when shares are purchased or redeemed.

Holdings and characteristics shown include underlying investments of pooled vehicles.

The Fund’s/Portfolio’s holdings (including derivatives) are expressed as a percentage of total investments and may vary over time. They are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

Risks To Consider

Investing in securities involves risk and there is no guarantee of principal.

Investors should consider the investment objectives, risks, charges, and expenses of the Fund/Portfolio carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.alliancebernstein.com or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

Shares of the ETF may be bought or sold throughout the day at their market price on the exchange on which they are listed. The market price of an ETF's shares may be at, above or below the ETF’s net asset value ("NAV") and will fluctuate with changes in the NAV as well as supply and demand in the market for the shares. Shares of the ETF may only be redeemed directly with the ETF at NAV by Authorized Participants, in very large creation units. There can be no guarantee that an active trading market for the Fund’s shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling the Fund’s shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

Investment Securities Risk: To the extent the Fund invests in other funds, shareholders will bear to layers of asset-based expenses, which could reduce returns.

Market Risk: The market values of the portfolio’s holdings rise and fall from day to day, so investments may lose value.

Interest-Rate Risk: As interest rates rise, bond prices fall and vice versa; long-term securities tend to rise and fall more than short-term securities.

Credit Risk: A bond’s credit rating reflects the issuer’s ability to make timely payments of interest or principal—the lower the rating, the higher the risk of default. If the issuer’s financial strength deteriorates, the issuer’s rating may be lowered, and the bond’s value may decline.

Inflation Risk: Prices for goods and services tend to rise over time, which may erode the purchasing power of investments.

Foreign (Non-US) Risk: Non-US securities may be more volatile because of political, regulatory, market and economic uncertainties associated with such securities. Fluctuations in currency exchange rates may negatively affect the value of the investment or reduce returns. These risks are magnified in emerging or developing markets.

Derivatives Risk: Investing in derivative instruments such as options, futures, forwards, or swaps can be riskier than traditional investments, and may be more volatile, especially in a down market.

Below-Investment-Grade Securities Risk: Investments in fixed-income securities with lower ratings (commonly known as “junk bonds”) tend to have a higher probability that an issuer will default or fail to meet its payment obligations.

Leverage Risk: Trying to enhance investment returns by borrowing money or using other leverage transactions such as reverser purchase agreements—magnifies both gains and losses, resulting in greater volatility.

New Fund Risk: The Fund is a recently organized, giving prospective investors a limited track record on which to base their investment decision.

The FTSE 3 Month US T-Bill Index Series is intended to track the daily performance of three-month US Treasury bills. The indices are designed to operate as a reference rate for a series of funds.

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to investors residing outside of the United States.

Investment Products Offered:

Are not FDIC Insured | May Lose Value | Are Not Bank Guaranteed

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