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ABHYX American Century High-Yield Muni Inv

  • Fund
  • ABHYX
  • Price as of: Nov 14, 2018
  • $9.41
  • - $0.00
  • - 0.00%
  • Category
  • High Yield Bonds

ABHYX - Profile

Vitals

  • YTD Return -3.1%
  • 3 Yr Annualized Return 3.9%
  • 5 Yr Annualized Return 5.2%
  • Net Assets $614 M
  • Holdings in Top 10 11.3%

52 WEEK LOW AND HIGH

$9.41
$9.41
$9.75

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.60%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$5,000

IRA

N/A

Investment Themes

CATEGORY

High Yield Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return -3.1%
  • 3 Yr Annualized Total Return 3.9%
  • 5 Yr Annualized Total Return 5.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.74%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name American Century High-Yield Municipal Fund
  • Fund Family Name American Century Investments
  • Inception Date Mar 31, 1998
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Alan Kruss

Fund Description

The fund invests in municipal and other debt securities with an emphasis on high-yield securities. Under normal market conditions, the portfolio managers invest at least 80% of the fund's net assets in municipal securities with interest payments exempt from federal income tax. Some of these investments in municipal securities are not necessarily exempt from the federal alternative minimum tax.

ABHYX - Performance

Return Ranking - Trailing

Period ABHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.1% -100.0% 10775.8% 26.75% 2
1 Yr 1.7% -100.0% 20.4% 25.93% 2
3 Yr 3.9% * -100.0% 12.4% 70.44% 4
5 Yr 5.2% * -100.0% 9.3% 8.95% 1
10 Yr 6.1% * -13.3% 12.4% 88.26% 5

* Annualized


Return Ranking - Calendar

Period ABHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 5.3% -72.4% 28.5% 7.15% 1
2016 -2.9% -23.4% 332.1% 59.08% 5
2015 1.0% -34.3% 1.0% 0.16% 1
2014 7.8% -21.7% 31.6% 1.23% 1
2013 -9.1% -16.9% 22.2% 68.48% 5

Total Return Ranking - Trailing

Period ABHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.1% -100.0% 10775.8% 26.79% 2
1 Yr 1.7% -100.0% 20.4% 20.99% 2
3 Yr 3.9% * -100.0% 12.4% 58.80% 3
5 Yr 5.2% * -100.0% 9.3% 6.54% 1
10 Yr 6.1% * -13.3% 12.4% 88.04% 5

* Annualized


Total Return Ranking - Calendar

Period ABHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 5.3% -72.4% 28.5% 7.66% 1
2016 -2.9% -13.3% 332.1% 64.81% 5
2015 1.0% -30.4% 9.9% 5.56% 1
2014 7.8% -18.4% 55.9% 4.23% 1
2013 -9.1% -16.9% 39.9% 72.37% 5

NAV & Total Return History

ABHYX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

ABHYX Category Low Category High ABHYX % Rank Quintile
Net Assets 614 M 635 K 23.2 B 15.03% 3
Number of Holdings 361 1 1574 13.34% 2
Net Assets in Top 10 69 M -32.2 M 3.56 B 15.49% 3
Weighting of Top 10 11.3% 0.0% 100.0% 18.71% 3

Top 10 Holdings

  1. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.88% 1.64%
  2. KANSAS ST DEV FIN AUTH 4% 1.56%
  3. TOBACCO SETTLEMENT FING CORP N J 5.25% 1.44%
  4. NEW YORK LIBERTY DEV CORP 5% 1.19%
  5. MICHIGAN FIN AUTH 6.75% 1.06%
  6. NEW YORK TRANSN DEV CORP 5% 0.91%
  7. NEW JERSEY ECONOMIC DEV AUTH 5% 0.90%
  8. NEW JERSEY ECONOMIC DEV AUTH 5% 0.87%
  9. TOBACCO SETTLEMENT FING CORP N J 5% 0.87%
  10. SOUTHEAST ALA GAS SUPPLY DIST 4% 0.86%

Asset Allocation

Weighting Category Low Category High ABHYX % Rank Quintile
Bonds
99.96% -16.15% 112.20% 1.07% 1
Cash
0.05% -11.47% 116.15% 31.60% 5
Stocks
0.00% -0.05% 99.32% 18.10% 5
Preferred Stocks
0.00% 0.00% 11.87% 13.96% 5
Other
0.00% -14.71% 38.60% 18.25% 5
Convertible Bonds
0.00% 0.00% 22.08% 18.10% 5

Bond Sector Breakdown

Weighting Category Low Category High ABHYX % Rank Quintile
Municipal
99.95% 0.00% 100.56% 0.46% 1
Cash & Equivalents
0.05% -7.60% 100.00% 30.21% 5
Derivative
0.00% -19.62% 16.15% 4.60% 5
Securitized
0.00% 0.00% 64.09% 16.10% 5
Corporate
0.00% 0.00% 112.63% 33.28% 5
Government
0.00% -6.83% 70.71% 13.65% 5

Bond Geographic Breakdown

Weighting Category Low Category High ABHYX % Rank Quintile
US
99.79% -16.15% 99.79% 0.15% 1
Non US
0.17% 0.00% 51.91% 33.13% 5

ABHYX - Expenses

Operational Fees

ABHYX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.60% 0.00% 5.43% 26.73% 1
Management Fee 0.59% 0.00% 1.00% 3.83% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.45% N/A N/A

Sales Fees

ABHYX Fees (% of AUM) Category Low Category High ABHYX Rank Quintile
Front Load N/A 2.00% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

ABHYX Fees (% of AUM) Category Low Category High ABHYX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ABHYX Fees (% of AUM) Category Low Category High ABHYX Rank Quintile
Turnover 49.00% 6.98% 1517.00% 12.75% 3

ABHYX - Distributions

Dividend Yield Analysis

ABHYX Category Low Category High ABHYX % Rank Quintile
Dividend Yield 0.4% 0.00% 3.33% 31.99% 3

Dividend Distribution Analysis

ABHYX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

ABHYX Category Low Category High ABHYX % Rank Quintile
Net Income Ratio 3.74% -2.30% 8.71% 36.25% 5

Capital Gain Distribution Analysis

ABHYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

ABHYX - Managers

Alan Kruss

Manager

Start Date

Jan 01, 2012

Tenure

6.84

Tenure Rank

9.1%

Mr. Kruss, Vice President and Portfolio Manager, has been a member of the team that manages Government Agency Money Market since November 2001. He joined American Century in 1997 as an Investment Administrator. In 2000, he was named Fixed Income Trader and in 2001, he was named Portfolio Manager. He has a bachelor's degree in finance from San Francisco State University.


Joseph Gotelli

Manager

Start Date

Jan 01, 2012

Tenure

6.84

Tenure Rank

9.1%

Mr. Gotelli, Portfolio Manager and Vice President, has joined American Century Investments since 2008. He has shared primary responsibility for the management of the fund, and has served on teams managing fixed-income investments since joining the advisor. Prior to joining American Century Investments, he was an assistant portfolio manager at Franklin Templeton Investments for six years. He has a bachelor’s degree in business economics from the University of California, Santa Barbara and an MBA from Santa Clara University.


Steven M. Permut

Manager

Start Date

Mar 31, 1998

Tenure

20.6

Tenure Rank

0.7%

Steven M. Permut, Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1987. He became a portfolio manager in 1990. He has served on teams managing fixed-income investments since joining American Century. He has a bachelor’s degree in business and geography from State University of New York – Oneonta and an MBA in finance from Golden Gate University –San Francisco.


Tenure Analysis

Category Low

0.0

Category High

58.5

Category Average

7.02

Category Mode

0.5