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HYMAX Lord Abbett High Yield Municipal Bond A

  • Fund
  • HYMAX
  • Price as of: Dec 05, 2016
  • $11.37
  • - $0.00
  • - 0.00%
  • Category
  • High Yield Municipal Bonds

HYMAX - Profile

Vitals

  • YTD Return -2.3%
  • 3 Yr Annualized Return 7.9%
  • 5 Yr Annualized Return 6.9%
  • Net Assets $2.2 B
  • Holdings in Top 10 9.3%

52 WEEK LOW AND HIGH

$11.37
$11.37
$12.20

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.87%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 31.38%

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 -2.3%
  • 3 Yr Annualized Total Return 7.0%
  • 5 Yr Annualized Total Return 6.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.82%
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 -2.3% -5.5% 3.6% 7.59% 1
1 Yr 7.9% 2.4% 12.2% 18.49% 1
3 Yr 7.9% * 2.6% 10.2% 39.29% 2
5 Yr 6.9% * 2.7% 9.6% 31.71% 2
10 Yr 2.6% * 0.8% 5.8% 91.82% 5

* Annualized


Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.0% -2.0% 2.9% 51.03% 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
2011 -1.6% -5.1% 8.6% 58.62% 5

Total Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.3% -5.5% 3.6% 13.79% 1
1 Yr 5.5% -1.7% 11.2% 43.15% 3
3 Yr 7.0% * 1.8% 10.2% 51.43% 3
5 Yr 6.4% * 2.5% 9.6% 45.53% 3
10 Yr 2.3% * 0.8% 5.8% 95.45% 5

* Annualized


Total Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.0% -2.0% 6.8% 55.17% 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
2011 -1.6% -5.1% 19.4% 61.21% 5

NAV & Total Return History

HYMAX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

HYMAX Category Low Category High HYMAX % Rank Quintile
Net Assets 2.2 B 152 K 14.1 B 8.84% 2
Number of Holdings 566 58 2489 8.84% 2
Net Assets in Top 10 209 M 45.4 K 1.58 B 8.84% 2
Weighting of Top 10 9.3% 7.3% 27.9% 23.81% 4

Top 10 Holdings

  1. New York Liberty Dev Corp Libe Rev Bd 5% 1.53%
  2. Jefferson Cnty Ala Swr Rev Swr Rev 6.5% 1.12%
  3. California Statewide Cmntys De Rev 5.25% 1.07%
  4. Buckeye Ohio Tob Settlement Fi To 5.125% 1.07%
  5. Iowa Fin Auth 5.25% 0.96%
  6. Tsasc Inc N Y Tob Settl 5.125% 0.74%
  7. E 470 Pub Hwy Auth 0.73%
  8. Niagara N Y Area Dev Corp Soli Ref 5.25% 0.71%
  9. New Jersey Econ Dev Auth 5.25% 0.69%
  10. Golden St Tob Securitization C Toba 4.5% 0.69%

Asset Allocation

Weighting Category Low Category High HYMAX % Rank Quintile
Bonds
99.68% 84.14% 102.61% 6.12% 2
Cash
0.32% -2.61% 15.84% 20.41% 4
Other
0.00% -0.32% 3.26% 10.88% 4
Convertible Bonds
0.00% 0.00% 0.00% 0.68% 3
Preferred Stocks
0.00% 0.00% 0.00% 0.68% 3
Stocks
0.00% 0.00% 2.97% 4.08% 3

Bond Sector Breakdown

Weighting Category Low Category High HYMAX % Rank Quintile
Municipal
98.80% 84.14% 100.99% 6.80% 2
Government
0.87% -2.19% 3.25% 13.61% 3
Cash & Equivalents
0.32% -2.61% 15.84% 20.41% 4
Securitized
0.00% 0.00% 0.62% 1.36% 3
Corporate
0.00% 0.00% 1.22% 12.24% 4
Derivative
0.00% -0.04% 0.00% 0.68% 3

Bond Geographic Breakdown

Weighting Category Low Category High HYMAX % Rank Quintile
US
99.68% 84.14% 102.61% 6.12% 2
Non US
0.00% -0.14% 0.00% 0.68% 3

HYMAX - Expenses

Operational Fees

HYMAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.87% 0.27% 44.43% 33.33% 2
Management Fee 0.47% 0.00% 0.75% 8.84% 2
12b-1 Fee 0.20% 0.00% 1.00% 15.32% 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 31.38% 4.00% 120.00% 5.44% 5

HYMAX - Distributions

Dividend Yield Analysis

HYMAX Category Low Category High HYMAX % Rank Quintile
Dividend Yield 0.5% 0.16% 0.96% 13.29% 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 4.82% 1.34% 6.68% 14.97% 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

10.14

Tenure Rank

7.5%

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 Columbia University and an MBA from the University of Chicago. He is a holder of a Chartered Financial Analyst designation and has been in the investment business since 1987.


Tenure Analysis

Category Low

0.1

Category High

27.9

Category Average

7.62

Category Mode

4.8