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NOTAX Deutsche Strategic High Yld Tx-Fr A

  • Fund
  • NOTAX
  • Price as of: Dec 06, 2016
  • $11.93
  • + $0.03
  • + 0.25%
  • Category
  • High Yield Bonds

NOTAX - Profile

Vitals

  • YTD Return -3.7%
  • 3 Yr Annualized Return 4.7%
  • 5 Yr Annualized Return 4.4%
  • Net Assets $1.71 B
  • Holdings in Top 10 10.9%

52 WEEK LOW AND HIGH

$11.93
$11.89
$12.82

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.97%

SALES FEES

  • Front Load 2.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 36.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return -3.7%
  • 3 Yr Annualized Total Return 3.7%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.54%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Deutsche Strategic High Yield Tax-Free Fund
  • Fund Family Name Deutsche Asset Management
  • Inception Date May 01, 2000
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Carol L. Flynn

NOTAX - Performance

Return Ranking - Trailing

Period NOTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.7% -30.0% 28.3% 67.55% 5
1 Yr 5.5% -30.5% 20.2% 64.91% 4
3 Yr 4.7% * -12.4% 7.2% 4.55% 1
5 Yr 4.4% * -12.6% 9.3% 75.35% 4
10 Yr 4.0% * -12.0% 12.4% 82.51% 5

* Annualized


Return Ranking - Calendar

Period NOTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.2% -34.3% 1.0% 3.03% 1
2014 6.5% -21.7% 10.4% 1.73% 1
2013 -10.0% -16.9% 31.6% 66.35% 5
2012 7.5% -18.5% 17.6% 32.25% 3
2011 4.2% -18.8% 6.8% 2.61% 1

Total Return Ranking - Trailing

Period NOTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.7% -30.0% 36.7% 71.72% 5
1 Yr -1.9% -30.5% 20.2% 89.80% 5
3 Yr 3.7% * -12.4% 7.2% 16.02% 1
5 Yr 3.9% * -12.6% 9.3% 80.96% 5
10 Yr 3.7% * -12.0% 12.4% 85.22% 5

* Annualized


Total Return Ranking - Calendar

Period NOTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -30.4% 4.6% 9.12% 1
2014 6.5% -18.4% 10.4% 1.91% 1
2013 -10.0% -16.9% 55.9% 70.91% 5
2012 7.5% -18.5% 33.1% 58.23% 4
2011 4.2% -18.8% 11.9% 21.14% 2

NAV & Total Return History

NOTAX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

NOTAX Category Low Category High NOTAX % Rank Quintile
Net Assets 1.71 B 2.52 M 20.6 B 7.52% 2
Number of Holdings 392 1 1424 10.74% 2
Net Assets in Top 10 188 M -32.2 M 3.63 B 7.52% 2
Weighting of Top 10 10.9% 0.0% 100.0% 18.71% 3

Top 10 Holdings

  1. California St Go Bds 5.75% 1.51%
  2. Harbor Point Infrasct Im Spl Obl 7.875% 1.35%
  3. Texas Mun Gas Acquisition & Su Sr 6.25% 1.21%
  4. Dallas Fort Worth Tex Intl Arp Jt 5.25% 0.99%
  5. Kentucky Econ Dev Fin Auth 6.5% 0.99%
  6. Washington St Health Care Facs Re 6.125% 0.96%
  7. Tobacco Settlement Fing Corp N Asset 5% 0.93%
  8. Tobacco Settlement Fing Corp N Ass 4.75% 0.91%
  9. Chicago Ill O Hare Intl Arpt R Gen Ar 6% 0.83%
  10. New York N Y City Transitional Future 5% 0.81%

Asset Allocation

Weighting Category Low Category High NOTAX % Rank Quintile
Bonds
100.00% -9.44% 107.80% 0.77% 1
Other
0.00% -11.89% 38.60% 20.40% 5
Preferred Stocks
0.00% 0.00% 18.78% 14.57% 4
Convertible Bonds
0.00% 0.00% 18.92% 14.11% 4
Cash
0.00% -11.47% 109.44% 30.37% 5
Stocks
0.00% 0.00% 99.11% 15.80% 4

Bond Sector Breakdown

Weighting Category Low Category High NOTAX % Rank Quintile
Municipal
99.04% 0.00% 100.00% 0.77% 1
Government
0.96% -9.04% 51.73% 10.89% 2
Securitized
0.00% 0.00% 68.94% 17.64% 4
Corporate
0.00% 0.00% 101.98% 32.98% 5
Cash & Equivalents
0.00% -7.60% 100.00% 30.98% 5
Derivative
0.00% -19.62% 9.44% 4.14% 2

Bond Geographic Breakdown

Weighting Category Low Category High NOTAX % Rank Quintile
US
100.00% -9.44% 100.00% 0.15% 1
Non US
0.00% 0.00% 46.20% 32.06% 5

NOTAX - Expenses

Operational Fees

NOTAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.97% 0.00% 3.69% 20.28% 2
Management Fee 0.45% 0.12% 1.00% 5.67% 1
12b-1 Fee 0.24% 0.00% 1.00% 3.99% 1
Administrative Fee 0.10% 0.00% 0.45% 4.30% 3

Sales Fees

NOTAX Fees (% of AUM) Category Low Category High NOTAX Rank Quintile
Front Load 2.75% 2.00% 5.75% 8.80% 1
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

NOTAX Fees (% of AUM) Category Low Category High NOTAX 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.

NOTAX Fees (% of AUM) Category Low Category High NOTAX Rank Quintile
Turnover 36.00% 7.20% 2247.00% 13.98% 2

NOTAX - Distributions

Dividend Yield Analysis

NOTAX Category Low Category High NOTAX % Rank Quintile
Dividend Yield 0.5% 0.00% 6.16% 23.74% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

NOTAX Category Low Category High NOTAX % Rank Quintile
Net Income Ratio 4.54% -2.75% 9.92% 32.26% 4

Capital Gain Distribution Analysis

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

NOTAX - Managers

Carol L. Flynn

Manager

Start Date

Oct 01, 2014

Tenure

2.17

Tenure Rank

16.9%

Carol L. Flynn, CFA, Managing Director. Co‐Lead Portfolio Manager. Joined Deutsche Asset & Wealth Management in 1994. BS from Duke University; MBA from University of Connecticut.


Ashton P. Goodfield

Manager

Start Date

Oct 01, 2014

Tenure

2.17

Tenure Rank

16.9%

ASHTON P. GOODFIELD, MANAGING DIRECTOR, CFA. Co-Lead Portfolio Manager of the fund, joined Deutsche Asset Management in 1986, managed municipal assets for individuals, insurance companies and other institutions as well as for mutual funds; served on the Finance Advisory Board of the Commonwealth of Massachusetts from 1990 to 2000, BA from Duke University.


Rebecca L. Flinn

Manager

Start Date

Jan 01, 1998

Tenure

18.93

Tenure Rank

0.9%

REBECCA L. FLINN, DIRECTOR. Portfolio Manager of the fund. Joined the fund in 1998.Joined Deutsche Asset Management in 1986. Over 24 years of investment industry experience. BA, University of Redlands, California.


A. Gene Caponi

Manager

Start Date

Dec 31, 2009

Tenure

6.92

Tenure Rank

9.2%

A. Gene Caponi, CFA, is Managing Director and Portfolio Manager. He is also Senior Municipal Bond Analyst specializing in the high-yield, health care and industrial sectors. Caponi joined the Joined Deutsche Asset & Wealth Management in 1998 after 14 years of experience as an investment analyst and banker at T. Rowe Price Associates, Lehman Brothers, The Sanwa Bank and Ayco/American Express. He earned his BS from the State University of New York, Oswego and his MBA from the State University of New York, Albany.


Tenure Analysis

Category Low

0.0

Category High

56.5

Category Average

6.41

Category Mode

4.8