Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

You should not rely solely on the information contained on this webpage to make investment decisions. You should read carefully and understand the relevant fund's offering documents before making any investment decision.

LU0654560100
AB Short Duration High Yield Portfolio Fund

Fixed income
High yield
Global
USD Cash
Accumulating

Invest with

USD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks high risk-adjusted returns by building a fixed-income portfolio with an average duration of less than four years to reduce sensitivity to credit market sell-offs and interest rate moves, and by focusing on higher-rated issuers in the h...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Invests in high yield securities globally but with a defensive tilt, limiting downside volatility by focusing on shorter duration and higher quality securities within its investment universe.

People

Managed by an experienced 5-member portfolio management team with an average of 18 years of industry experience. The team is backed up by a large team of AllianceBernstein credit analysts.

Performance

Has outperformed or in-line with its benchmark over both shorter-term and longer-term periods. Is able to use derivatives to hedge downside volatility. As a result, the fund has displayed lower down-market capture ratios as well as lower volatility relative to the benchmark on a historical basis.

Process

Limits its duration exposure to less than 4 years, and can only hold a maximum of 10% in CCC-rated securities, with a focus on BB/B rated securities. Investment team adds value via credit selection and sector and country allocations, whilst managing the portfolio beta based on their top down and bottom up views.

Cost

Access to the clean USD share class and retail HKD share class with trailer rebates to achieve the lowest possible fees.

How it fits in a portfolio

As a global high yield bond fund with an emphasis on shorter duration securities, this fund can complement a core bond allocation with its lower duration and lower volatility characteristics. However, investors should note that the design of the fund means that it generally does not capture the full upside of the global high yield market because of its focus on higher quality and lower duration.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

89.40%

YTD

0.39%

1 month

0.39%

6 month

2.90%

1 year

5.89%

3 year

24.28%

5 year

22.25%

10 year

62.34%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-11.14%As of Jan 2026

Volatility

5.34%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.4%	-	-	-	-	-	-	-	-	-	-	-
2025	6.6%	1.0%	0.3%	-0.9%	0.1%	1.4%	1.3%	0.6%	0.8%	0.5%	0.1%	0.6%	0.5%
2024	7.3%	0.2%	0.3%	1.0%	-0.5%	0.9%	0.8%	1.3%	1.2%	0.9%	0.0%	0.9%	0.2%
2023	11.6%	3.1%	-0.8%	0.9%	0.7%	-0.5%	1.4%	1.2%	0.2%	-0.8%	-0.8%	3.6%	2.8%
2022	-7.8%	-1.8%	-0.8%	-0.6%	-2.5%	0.1%	-5.7%	5.1%	-2.1%	-3.1%	2.5%	1.6%	-0.4%
Load more		5 of 16

Top Exposures

Holdings

Regions

Sectors

5 Year Treasury Note Future Mar 26 (2026-03-31 Maturity)	4.44%
AB SICAV I Sust Euro Hi Yld S EUR	1.96%
Firstcash Inc 4.625% (2028-09-01 Maturity)	0.81%
Clarivate Science Holdings Corp. 4.875% (2029-07-01 Maturity)	0.81%
Advance Auto Parts Inc. 7% (2030-08-01 Maturity)	0.81%
CNX Resources Corporation 6% (2029-01-15 Maturity)	0.81%
Marriott Ownership Resorts Inc 4.5% (2029-06-15 Maturity)	0.79%
AAdvantage Loyalty IP Ltd/ American Airlines Inc 5.75% (2029-04-20 Maturity)	0.76%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

0.75% p.a.

Fund facts

ISIN

LU0654560100

Fund house

AllianceBernstein

Fund size

US$1.5B

As of 30 Jan 2026

Fund inception date

29 Jul 2011

Fund class currency

USD

Oldest share inception date

29 Jul 2011

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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LU0654560100AB Short Duration High Yield Portfolio Fund

LU0654560100
AB Short Duration High Yield Portfolio Fund