First Investors Tax Exempt Opps Advisor
Name
As of 12/04/2020Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.1%
1 yr return
5.3%
3 Yr Avg Return
4.5%
5 Yr Avg Return
3.4%
Net Assets
$333 M
Holdings in Top 10
22.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.70%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 60.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/04/2020Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
EIIAX - Profile
Distributions
- YTD Total Return 1.1%
- 3 Yr Annualized Total Return 4.5%
- 5 Yr Annualized Total Return 3.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.05%
- Dividend Yield 2.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDelaware Tax-Exempt Opportunities Fund
-
Fund Family NameFirst Investors
-
Inception DateMay 01, 2013
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerStephen Czepiel
Fund Description
EIIAX - Performance
Return Ranking - Trailing
Period | EIIAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.1% | -3.0% | 308.0% | 66.47% |
1 Yr | 5.3% | -1.4% | 9.6% | 7.17% |
3 Yr | 4.5%* | -0.2% | 9.5% | 22.67% |
5 Yr | 3.4%* | -0.3% | 7.4% | 36.74% |
10 Yr | 4.3%* | -0.1% | 9.2% | 27.14% |
* Annualized
Return Ranking - Calendar
Period | EIIAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.4% | -0.3% | 15.4% | 28.23% |
2022 | -3.4% | -10.3% | 97.2% | 90.59% |
2021 | 0.4% | -100.0% | 7.6% | 83.76% |
2020 | -3.1% | -7.9% | 96.8% | 62.97% |
2019 | -0.1% | -4.8% | 3.0% | 36.76% |
Total Return Ranking - Trailing
Period | EIIAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.1% | -3.0% | 308.0% | 66.42% |
1 Yr | 5.3% | -5.0% | 9.6% | 6.09% |
3 Yr | 4.5%* | -2.2% | 9.5% | 20.02% |
5 Yr | 3.4%* | -1.4% | 7.4% | 31.36% |
10 Yr | 4.3%* | -0.3% | 9.2% | 24.82% |
* Annualized
Total Return Ranking - Calendar
Period | EIIAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.4% | -0.3% | 15.4% | 28.71% |
2022 | -3.4% | -10.3% | 11.0% | 90.97% |
2021 | 0.4% | -100.0% | 7.6% | 84.86% |
2020 | -3.1% | -7.9% | 3.0% | 67.91% |
2019 | -0.1% | -4.8% | 4.0% | 42.97% |
NAV & Total Return History
EIIAX - Holdings
Concentration Analysis
EIIAX | Category Low | Category High | EIIAX % Rank | |
---|---|---|---|---|
Net Assets | 333 M | 582 K | 79.9 B | 55.75% |
Number of Holdings | 157 | 3 | 10805 | 66.93% |
Net Assets in Top 10 | 75.8 M | -199 M | 3.97 B | 48.79% |
Weighting of Top 10 | 22.90% | 2.5% | 100.0% | 27.26% |
Top 10 Holdings
- PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 3.99%
- CALIFORNIA EDL FACS AUTH REV 5% 3.57%
- INLAND EMPIRE TOBACCO SECURIZATION AUTH CALIF TOB 0% 2.26%
- NEW YORK LIBERTY DEV CORP LIBERTY REV 2.8% 2.26%
- DENVER COLO CITY & CNTY ARPT REV 5% 2.13%
- NEW JERSEY ST TPK AUTH TPK REV 5% 2.06%
- ALLEGHENY CNTY PA PORT AUTH SPL REV 5.25% 1.84%
- SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 1.79%
- NEW YORK N Y 5% 1.76%
- PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% 1.76%
Asset Allocation
Weighting | Return Low | Return High | EIIAX % Rank | |
---|---|---|---|---|
Bonds | 99.73% | 15.80% | 147.66% | 34.52% |
Other | 0.27% | -1.46% | 12.83% | 3.49% |
Stocks | 0.00% | 0.00% | 1.80% | 75.51% |
Preferred Stocks | 0.00% | -0.97% | 1.06% | 73.97% |
Convertible Bonds | 0.00% | 0.00% | 1.64% | 74.37% |
Cash | 0.00% | -47.66% | 84.20% | 84.39% |
Bond Sector Breakdown
Weighting | Return Low | Return High | EIIAX % Rank | |
---|---|---|---|---|
Municipal | 100.00% | 15.80% | 100.00% | 10.70% |
Derivative | 0.00% | 0.00% | 2.16% | 74.37% |
Cash & Equivalents | 0.00% | 0.00% | 84.20% | 95.89% |
Securitized | 0.00% | 0.00% | 6.06% | 74.99% |
Corporate | 0.00% | 0.00% | 12.97% | 79.94% |
Government | 0.00% | 0.00% | 49.77% | 75.66% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | EIIAX % Rank | |
---|---|---|---|---|
US | 88.23% | 15.80% | 141.34% | 91.94% |
Non US | 11.50% | 0.00% | 27.82% | 2.37% |
EIIAX - Expenses
Operational Fees
EIIAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.70% | 0.01% | 4.23% | 58.56% |
Management Fee | 0.55% | 0.00% | 1.10% | 92.74% |
12b-1 Fee | N/A | 0.00% | 1.00% | 16.05% |
Administrative Fee | N/A | 0.01% | 0.47% | N/A |
Sales Fees
EIIAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | N/A |
Deferred Load | N/A | 0.25% | 5.50% | N/A |
Trading Fees
EIIAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
EIIAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 60.00% | 0.00% | 233.00% | 90.15% |
EIIAX - Distributions
Dividend Yield Analysis
EIIAX | Category Low | Category High | EIIAX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.33% | 0.00% | 3.34% | 76.42% |
Dividend Distribution Analysis
EIIAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
EIIAX | Category Low | Category High | EIIAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.05% | 0.00% | 6.48% | 16.54% |
Capital Gain Distribution Analysis
EIIAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jul 05, 2019 | $0.040 | |
Jun 05, 2019 | $0.041 | |
May 06, 2019 | $0.045 | |
May 05, 2019 | $0.045 | |
Apr 05, 2019 | $0.043 | |
Mar 05, 2019 | $0.042 | |
Feb 05, 2019 | $0.041 | |
Jan 05, 2019 | $0.041 | |
Dec 05, 2018 | $0.044 | |
Nov 05, 2018 | $0.043 | |
Sep 05, 2018 | $0.041 | |
Aug 06, 2018 | $0.045 | |
Jul 05, 2018 | $0.045 | |
Jun 05, 2018 | $0.045 | |
May 04, 2018 | $0.045 | |
Apr 05, 2018 | $0.044 | |
Mar 05, 2018 | $0.044 | |
Feb 05, 2018 | $0.046 | |
Jan 05, 2018 | $0.042 | |
Dec 05, 2017 | $0.046 | |
Nov 06, 2017 | $0.049 | |
Oct 05, 2017 | $0.088 | |
Sep 05, 2017 | $0.048 | |
Aug 04, 2017 | $0.048 | |
Jul 05, 2017 | $0.048 | |
Jun 05, 2017 | $0.048 | |
May 05, 2017 | $0.048 | |
Apr 05, 2017 | $0.048 | |
Mar 06, 2017 | $0.048 | |
Feb 06, 2017 | $0.048 | |
Jan 05, 2017 | $0.048 | |
Dec 05, 2016 | $0.048 | |
Nov 04, 2016 | $0.048 | |
Oct 05, 2016 | $0.048 | |
Sep 06, 2016 | $0.048 | |
Aug 05, 2016 | $0.048 | |
Jul 05, 2016 | $0.048 | |
Jun 06, 2016 | $0.048 | |
May 05, 2016 | $0.048 | |
Apr 04, 2016 | $0.048 | |
Mar 04, 2016 | $0.048 | |
Feb 05, 2016 | $0.047 | |
Jan 05, 2016 | $0.047 | |
Dec 04, 2015 | $0.047 | |
Nov 05, 2015 | $0.047 | |
Oct 05, 2015 | $0.047 | |
Sep 04, 2015 | $0.047 | |
Aug 05, 2015 | $0.047 | |
Jul 06, 2015 | $0.047 | |
Jun 05, 2015 | $0.047 | |
May 05, 2015 | $0.047 | |
Apr 06, 2015 | $0.047 | |
Mar 05, 2015 | $0.047 | |
Feb 05, 2015 | $0.047 | |
Jan 05, 2015 | $0.047 | |
Dec 05, 2014 | $0.047 | |
Nov 05, 2014 | $0.047 | |
Oct 06, 2014 | $0.046 | |
Sep 05, 2014 | $0.046 | |
Aug 05, 2014 | $0.046 | |
Jul 07, 2014 | $0.046 | |
Jun 05, 2014 | $0.044 | |
May 05, 2014 | $0.044 | |
Apr 07, 2014 | $0.044 | |
Mar 05, 2014 | $0.044 | |
Feb 05, 2014 | $0.044 | |
Jan 06, 2014 | $0.044 | |
Dec 05, 2013 | $0.043 | |
Nov 05, 2013 | $0.043 | |
Oct 04, 2013 | $0.042 | |
Sep 05, 2013 | $0.042 |
EIIAX - Fund Manager Analysis
Managers
Stephen Czepiel
Start Date
Tenure
Tenure Rank
Oct 04, 2019
1.16
1.2%
Stephen J. Czepiel Senior Vice President, Head of Municipal Bonds Portfolio Management, Senior Portfolio Manager Stephen J. Czepiel leads the portfolio management of the firm’s municipal bonds strategies, a role he assumed in February 2019. He is a co-portfolio manager of the firm’s municipal bond funds and client accounts, a role he has held since August 2007. He joined Macquarie Investment Management (MIM) in July 2004 as a senior bond trader. Previously, he was vice president at both Mesirow Financial and Loop Capital Markets. He began his career in the securities industry in 1982 as a municipal bond trader at Kidder Peabody and now has more than 20 years of experience in the municipal securities industry. Czepiel earned his bachelor’s degree in finance and economics from Duquesne University.
Gregory Gizzi
Start Date
Tenure
Tenure Rank
Oct 04, 2019
1.16
1.2%
Gregory A. Gizzi Senior Vice President, Head of Municipal Bonds, Senior Portfolio Manager Gregory A. Gizzi is head of municipal bonds in the Americas, a role he assumed in February 2019. In this role, he is responsible for the overall operation of the strategy and is team lead on several of the tax-exempt strategies. Additionally, Gizzi continues to be responsible for the taxable municipal business and the marketing efforts for the municipal product. Previously, Gizzi was co-portfolio manager of the firm’s municipal bond funds and several client accounts, a role he held since November 2011. Before joining Macquarie Investment Management (MIM) in January 2008 as head of municipal bond trading, he spent six years as a vice president at Lehman Brothers for the firm’s tax-exempt institutional sales effort. Prior to that, he spent two years trading corporate bonds for UBS before joining Lehman Brothers in a sales capacity. Gizzi has more than 20 years of trading experience in the municipal securities industry, beginning at Kidder Peabody in 1984, where he started as a municipal bond trader and worked his way up to institutional block trading desk manager. He later worked in the same capacity at Dillon Read. Gizzi earned his bachelor’s degree in economics from Harvard University.
Jake van Roden
Start Date
Tenure
Tenure Rank
Oct 04, 2019
1.16
1.2%
Delaware Management Company Senior Vice President, Head of Municipal Trading, Portfolio Manager Jake van Roden is head of Macquarie’s municipal trading team. He is also a portfolio manager for the firm’s nine open-end state-specific municipal bond funds, as well as for several municipal bond client accounts, a role he assumed in December 2017. In February 2019, his portfolio management role expanded to include the closed-end municipal bond funds and the three national municipal open-end funds.He joined the municipal department in July 2004 as a generalist and became head of municipal trading in December 2012. Before that, van Roden interned at Macquarie Investment Management (MIM), which includes the former Delaware Investments, in the client services department. He received a bachelor’s degree in American studies with a minor in government from Franklin & Marshall College.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 35.69 | 6.98 | 0.08 |