Is AFB a Friend, Question Mark or Foe?

AFB is classified a Question Mark under the Income Quality Score framework, based on long-duration distribution and total-return history. This is a research classification, not investment advice.

How safe is the AFB distribution?

A Question Mark is an income asset with a mixed or incomplete quality record — some income-quality signals are strong while others are weak, or the available history is too short to classify with confidence. It warrants a closer look rather than a conclusion.

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Public snapshot

AFB Income Quality Score

Name: AFB Income Quality Score
Creator: Income Quality Score
Keywords: AFB income quality, AFB dividend quality, AFB dividend safety, AFB distribution history, AFB dividend score, AFB analysis, AllianceBernstein National Municipal Income Fund dividend

AllianceBernstein National Municipal Income Fund (AFB) has an Income Quality Score of 49/100, classified as a Question Mark with high confidence, based on a 10-year income and total-return history.

AllianceBernstein National Municipal Income Fund (AFB) is a closed-end fund and is part of the IQ Score universe.

July 2026 snapshotAs of July 7, 2026Lookback: 10-year

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Long-term focused10-year income and total-return analysis

Data-drivenObjective scoring across 5 quality, distribution and risk signals

Clear classificationFriends to own. Foes to avoid.

IQ Score

49/100

Question MarkHigh confidence

Asset Type

CEF

Exchange

—

Trailing Yield (TTM)

—

Rank in CEF Universe

168 of 263

Lookback

10-year

Data as of

July 7, 2026

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About this snapshot
This is the public July 2026 snapshot. Public snapshots are delayed and frozen: once released, a month's scores do not change, and current data is reserved for members. The July 2026 snapshot is published as the public launch snapshot.

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IQ Signal Scores

5 quality, distribution and risk signals combined into the overall IQ Score.

Economic Payout Coverage

35/100

Working Capital Preservation

58/100

Distribution Cut Score

10/100

Distribution Trend

68/100

NAV CAGR

81/100

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IQ Score History

IQ Score trajectory since 2023

AFB's IQ Score has 70 recorded points from 2023-05-31 to 2026-07-07, most recently 49, ranging between 18 and 52 over the period. Over that window AFB recorded 3 classification changes. The chart above plots the score against the methodology's Friend and Foe thresholds and overlays a base-100 normalised price line for capital-preservation context.

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AFB distribution history & safety

Across 12 years of distribution data (2015–2026), AFB recorded 5 annual increases and 4 distribution cuts. Distribution stability is a core IQ Score signal — a long record free of cuts supports a stronger classification, while repeated cuts weaken it. Per-year figures are shown in the panel above.

Annual increases

2015–2026

Distribution cuts

2015–2026

Years of data

2015–2026

—

Trailing yield (TTM)

As of snapshot

Growing

Distribution trend

Over available history

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IQ Score is a long-duration quality and distribution-safety classification for income assets. It is research based on historical data, not personal investment advice, and it does not tell you what to buy or sell. Figures reflect a delayed public snapshot and may differ from current data.