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HYMAX Lord Abbett High Yield Municipal Bond A

  • Fund
  • HYMAX
  • Price as of: Dec 15, 2017
  • $11.79
  • - $0.00
  • - 0.00%
  • Category
  • High Yield Municipal Bonds

HYMAX - Profile

Vitals

  • YTD Return 3.1%
  • 3 Yr Annualized Return 4.4%
  • 5 Yr Annualized Return 3.7%
  • Net Assets $2.13 B
  • Holdings in Top 10 11.2%

52 WEEK LOW AND HIGH

$11.79
$11.40
$11.96

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.80%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 30.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return 3.6%
  • 5 Yr Annualized Total Return 3.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.31%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Lord Abbett High Yield Municipal Bond Fund
  • Fund Family Name Lord Abbett
  • Inception Date Dec 30, 2004
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Daniel S. Solender

Fund Description

The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that pay interest exempt from federal income tax. Under normal circumstances, it seeks to maintain a dollar-weighted average maturity of between ten and twenty-five years. The fund is non-diversified.

HYMAX - Performance

Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.1% -0.2% 8.9% 44.14% 4
1 Yr 6.7% -9.1% 12.8% 63.70% 4
3 Yr 4.4% * 0.2% 7.2% 42.36% 3
5 Yr 3.7% * -0.7% 5.8% 48.80% 3
10 Yr 3.2% * 1.8% 6.0% 89.91% 5

* Annualized


Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -1.7% -6.7% 0.0% 7.59% 1
2015 -1.0% -2.0% 2.9% 51.39% 5
2014 9.2% 0.0% 13.1% 33.33% 3
2013 -11.4% -13.7% 0.0% 46.72% 5
2012 12.2% 0.0% 14.5% 5.13% 1

Total Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.1% -0.2% 8.9% 44.14% 4
1 Yr 4.3% -8.3% 12.8% 59.59% 3
3 Yr 3.6% * 0.4% 7.2% 52.08% 3
5 Yr 3.2% * 0.8% 5.8% 56.80% 3
10 Yr 3.0% * 1.8% 6.0% 91.74% 5

* Annualized


Total Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -1.7% -5.0% 0.5% 11.72% 1
2015 -1.0% -2.0% 6.8% 55.56% 5
2014 9.2% 0.0% 20.0% 36.23% 3
2013 -11.4% -13.7% 0.0% 50.82% 5
2012 12.2% 0.0% 18.2% 11.11% 1

NAV & Total Return History

HYMAX - Holdings

Filings data as of: Oct 31, 2017

Concentration Analysis

HYMAX Category Low Category High HYMAX % Rank Quintile
Net Assets 2.13 B 152 K 16.2 B 10.20% 2
Number of Holdings 524 52 2885 11.56% 2
Net Assets in Top 10 235 M 45.4 K 1.97 B 8.84% 2
Weighting of Top 10 11.2% 6.4% 30.6% 21.09% 4

Top 10 Holdings

  1. New York Liberty Dev Corp Libe Rev Bd 5% 2.37%
  2. Buckeye Ohio Tob Settlement Fi To 5.125% 1.23%
  3. Iowa Fin Auth 5.25% 1.19%
  4. Jefferson Cnty Ala Swr Rev Swr Rev 6.5% 1.14%
  5. California Statewide Cmntys De Rev 5.25% 1.09%
  6. Chicago Ill Go Bds 6% 0.97%
  7. Tobacco Settlement Fing Corp N Asset 5% 0.84%
  8. Buckeye Ohio Tob Settlement Fi To 5.875% 0.83%
  9. Lower Ala Gas Proj Rev Proj 5% 0.76%
  10. Chicago Ill Brd Ed Go Dedica 5.25% 0.76%

Asset Allocation

Weighting Category Low Category High HYMAX % Rank Quintile
Bonds
100.00% 83.14% 103.38% 4.08% 1
Stocks
0.00% 0.00% 2.97% 4.08% 3
Preferred Stocks
0.00% 0.00% 1.29% 1.36% 3
Other
0.00% -0.32% 3.31% 6.80% 4
Convertible Bonds
0.00% 0.00% 0.00% 0.68% 3
Cash
0.00% -3.38% 15.22% 21.09% 4

Bond Sector Breakdown

Weighting Category Low Category High HYMAX % Rank Quintile
Municipal
100.00% 88.28% 104.33% 4.08% 1
Derivative
0.00% -4.46% 0.06% 2.72% 3
Cash & Equivalents
0.00% -3.38% 15.22% 21.77% 4
Securitized
0.00% 0.00% 0.64% 1.36% 3
Corporate
0.00% 0.00% 1.46% 8.16% 4
Government
0.00% -4.68% 4.84% 5.44% 3

Bond Geographic Breakdown

Weighting Category Low Category High HYMAX % Rank Quintile
US
96.98% 80.25% 102.13% 20.41% 4
Non US
3.02% -0.14% 11.77% 6.80% 2

HYMAX - Expenses

Operational Fees

HYMAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.80% 0.27% 44.43% 34.69% 2
Management Fee 0.47% 0.00% 0.75% 10.20% 2
12b-1 Fee 0.20% 0.00% 1.00% 14.41% 2
Administrative Fee 0.04% 0.00% 0.35% 21.15% 2

Sales Fees

HYMAX Fees (% of AUM) Category Low Category High HYMAX Rank Quintile
Front Load 2.25% 1.00% 4.75% 25.64% 1
Deferred Load N/A 0.60% 5.50% N/A N/A

Trading Fees

HYMAX Fees (% of AUM) Category Low Category High HYMAX Rank Quintile
Max Redemption Fee N/A 0.75% 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.

HYMAX Fees (% of AUM) Category Low Category High HYMAX Rank Quintile
Turnover 30.00% 4.24% 172.00% 13.61% 3

HYMAX - Distributions

Dividend Yield Analysis

HYMAX Category Low Category High HYMAX % Rank Quintile
Dividend Yield 0.5% 0.16% 0.96% 14.69% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

HYMAX Category Low Category High HYMAX % Rank Quintile
Net Income Ratio 4.31% 1.33% 5.74% 17.01% 1

Capital Gain Distribution Analysis

HYMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

HYMAX - Managers

Daniel S. Solender

Manager

Start Date

Sep 14, 2006

Tenure

11.22

Tenure Rank

8.4%

Mr. Solender is the lead portfolio manager of the municipal bond capabilities. Mr. Solender joined Lord Abbett in 2006 and was named Partner in 2008. His prior experience includes: Vice President and Portfolio Manager at Nuveen Investments; Principal and Portfolio Manager at Vanguard Group; Assistant Vice President and Portfolio Manager at Nuveen Advisory Corp.; Financial Analyst/Assistant Manager, Research and Product Development at Citibank. Mr. Solender received a BA from the University of Columbia and an MBA from the University of Chicago. He is the holder of a Chartered Financial Analyst designation and has been in the investment business since 1987.


Tenure Analysis

Category Low

0.2

Category High

28.9

Category Average

8.19

Category Mode

2.9