AFB vs VTI
AllianceBernstein National Municipal Income Fund Inc vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | AFB | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.56% | 0.03% | |
| AUM | $341M | $663.5B | |
| Dividend Yield | 4.67% | 1.07% | |
| Holdings | 175 | 3,543 | |
| YTD Return | +4.18% | +13.87% | |
| 1Y Return | +11.84% | +23.31% | |
| 3Y Return (annualized) | +6.30% | +21.17% | |
| 5Y Return (annualized) | -2.00% | +12.23% | |
| Volatility (annualized) | 12.8% | 15.3% | |
| Max Drawdown | -56.2% | -56.6% | |
| Fund Family | AllianceBernstein L.P. | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jan 28, 2002 | May 24, 2001 |
AFB vs VTI Performance
AllianceBernstein National Municipal Income Fund Inc (AFB) is a ETF from AllianceBernstein L.P. and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year AFB returned +11.84% while VTI returned +23.31%. Year to date, AFB is up 4.18% versus a gain of 13.87% for VTI.
Over three years, AFB compounded at +6.30% per year against +21.17% for VTI; over five years the annualized figures are -2.00% and +12.23% respectively. Across the full 25-year window we track, VTI has the edge at +8.13% annualized vs -0.32%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.8% for AFB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.2% for AFB and -56.6% for VTI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AFB charges 1.56% per year while VTI charges 0.03%. On a $10,000 position that is $156 vs $3 annually, a gap of $153 per year that compounds over a long holding period. On income, AFB currently yields 4.67% against 1.07% for VTI.
Holdings Overlap
AFB and VTI share 0 holdings out of 2862 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AFB or VTI?
AFB has an expense ratio of 1.56% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $153 per year of difference.
Which performed better, AFB or VTI?
Over the past year AFB returned +11.84% vs +23.31% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), AFB annualized -0.32% vs +8.13% for VTI. Past performance does not guarantee future results.
Which is riskier, AFB or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 12.8% for AFB. Worst drawdown: AFB -56.2% vs VTI -56.6%.
Should I hold both AFB and VTI?
AFB and VTI have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AFB and VTI?
AFB and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2862 unique securities.
Which pays a higher dividend, AFB or VTI?
AFB yields 4.67% while VTI yields 1.07%, so AFB currently pays the higher dividend yield.
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