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HYMAX Lord Abbett High Yield Municipal Bond A

  • Fund
  • HYMAX
  • Price as of: Aug 08, 2016
  • $12.17
  • - $0.00
  • - 0.00%
  • Category
  • High Yield Municipal Bonds

HYMAX - Profile

Vitals

  • YTD Return 4.6%
  • 3 Yr Annualized Return 7.9%
  • 5 Yr Annualized Return 7.0%
  • Net Assets $2.2 B
  • Holdings in Top 10 9.3%

52 WEEK LOW AND HIGH

$12.17
$11.54
$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 4.6%
  • 3 Yr Annualized Total Return 7.1%
  • 5 Yr Annualized Total Return 6.5%
  • 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 4.6% 1.0% 6.2% 17.36% 2
1 Yr 11.2% 3.5% 15.4% 27.89% 2
3 Yr 7.9% * 3.6% 11.6% 55.00% 3
5 Yr 7.0% * 3.2% 10.3% 55.28% 3
10 Yr 3.0% * 1.2% 6.2% 93.27% 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% 52.08% 5
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.6% 1.0% 6.2% 17.36% 2
1 Yr 8.7% -1.4% 15.1% 41.50% 3
3 Yr 7.1% * 2.7% 11.6% 57.86% 3
5 Yr 6.5% * 3.1% 10.3% 58.54% 3
10 Yr 2.8% * 1.2% 6.2% 94.23% 5

* Annualized


Total Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.0% -2.0% 2.9% 52.08% 5
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

HYMAX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

HYMAX Category Low Category High HYMAX % Rank Quintile
Net Assets 2.2 B 152 K 14.4 B 9.52% 2
Number of Holdings 539 54 2466 8.84% 2
Net Assets in Top 10 203 M 45.4 K 1.5 B 8.84% 2
Weighting of Top 10 9.3% 7.4% 31.2% 23.13% 4

Top 10 Holdings

  1. New York Liberty Dev Corp Libe Rev Bd 5% 1.58%
  2. Buckeye Ohio Tob Settlement Fi To 5.125% 1.21%
  3. Jefferson Cnty Ala Swr Rev Swr Rev 6.5% 1.12%
  4. Iowa Fin Auth 5.25% 0.99%
  5. Tsasc Inc N Y Tob Settl 5.125% 0.75%
  6. E 470 Pub Hwy Auth 0.75%
  7. Niagara N Y Area Dev Corp Soli Ref 5.25% 0.74%
  8. New Jersey Econ Dev Auth 5.25% 0.72%
  9. Tobacco Settlement Fing Corp N Asset 5% 0.71%
  10. Golden St Tob Securitization C Toba 4.5% 0.71%

Asset Allocation

Weighting Category Low Category High HYMAX % Rank Quintile
Bonds
98.05% 79.28% 101.69% 10.88% 3
Cash
1.52% -1.69% 20.71% 17.01% 3
Other
0.43% -0.32% 3.42% 4.76% 1
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
97.04% 78.39% 100.27% 12.93% 3
Cash & Equivalents
1.52% -1.69% 20.71% 17.01% 3
Government
1.02% -4.00% 3.33% 8.16% 2
Securitized
0.00% 0.00% 0.78% 1.36% 3
Corporate
0.00% 0.00% 1.24% 9.52% 4
Derivative
0.00% -0.05% 0.00% 0.68% 3

Bond Geographic Breakdown

Weighting Category Low Category High HYMAX % Rank Quintile
US
98.05% 79.11% 101.69% 10.88% 3
Non US
0.00% -0.14% 0.17% 1.36% 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% 34.01% 2
Management Fee 0.47% 0.00% 0.75% 9.52% 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% 6.12% 4

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% 1.39% 7.33% 13.61% 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

9.88

Tenure Rank

7.3%

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

0.3

Category High

27.6

Category Average

7.52

Category Mode

1.6