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Trending ETFs

Name

As of 12/04/2020

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$16.89

$333 M

2.13%

$0.57

0.98%

Vitals

YTD Return

1.2%

1 yr return

5.0%

3 Yr Avg Return

4.2%

5 Yr Avg Return

3.2%

Net Assets

$333 M

Holdings in Top 10

22.9%

52 WEEK LOW AND HIGH

$16.9
$14.77
$17.38

Expenses

OPERATING FEES

Expense Ratio 0.98%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 60.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/04/2020

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$16.89

$333 M

2.13%

$0.57

0.98%

EIITX - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return 2.6%
  • 5 Yr Annualized Total Return 2.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.74%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Delaware Tax-Exempt Opportunities Fund
  • Fund Family Name
    First Investors
  • Inception Date
    Jul 26, 1990
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Gregory Gizzi

Fund Description


EIITX - Performance

Return Ranking - Trailing

Period EIITX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.0% 308.0% 65.84%
1 Yr 5.0% -1.4% 9.6% 10.64%
3 Yr 4.2%* -0.2% 9.5% 33.82%
5 Yr 3.2%* -0.3% 7.4% 47.37%
10 Yr 4.2%* -0.1% 9.2% 31.14%

* Annualized

Return Ranking - Calendar

Period EIITX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% -0.3% 15.4% 27.94%
2022 -3.4% -10.3% 97.2% 90.71%
2021 0.2% -100.0% 7.6% 87.34%
2020 -3.1% -7.9% 96.8% 63.04%
2019 -0.2% -4.8% 3.0% 45.71%

Total Return Ranking - Trailing

Period EIITX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.0% 308.0% 65.90%
1 Yr 0.2% -5.0% 9.6% 83.78%
3 Yr 2.6%* -2.2% 9.5% 77.57%
5 Yr 2.3%* -1.4% 7.4% 75.45%
10 Yr 3.7%* -0.3% 9.2% 44.29%

* Annualized

Total Return Ranking - Calendar

Period EIITX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% -0.3% 15.4% 28.41%
2022 -3.4% -10.3% 11.0% 91.09%
2021 0.2% -100.0% 7.6% 88.44%
2020 -3.1% -7.9% 3.0% 67.98%
2019 -0.2% -4.8% 4.0% 50.59%

NAV & Total Return History


EIITX - Holdings

Concentration Analysis

EIITX Category Low Category High EIITX % Rank
Net Assets 333 M 582 K 79.9 B 55.81%
Number of Holdings 157 3 10805 66.99%
Net Assets in Top 10 75.8 M -199 M 3.97 B 48.85%
Weighting of Top 10 22.90% 2.5% 100.0% 27.32%

Top 10 Holdings

  1. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 3.99%
  2. CALIFORNIA EDL FACS AUTH REV 5% 3.57%
  3. INLAND EMPIRE TOBACCO SECURIZATION AUTH CALIF TOB 0% 2.26%
  4. NEW YORK LIBERTY DEV CORP LIBERTY REV 2.8% 2.26%
  5. DENVER COLO CITY & CNTY ARPT REV 5% 2.13%
  6. NEW JERSEY ST TPK AUTH TPK REV 5% 2.06%
  7. ALLEGHENY CNTY PA PORT AUTH SPL REV 5.25% 1.84%
  8. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 1.79%
  9. NEW YORK N Y 5% 1.76%
  10. PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% 1.76%

Asset Allocation

Weighting Return Low Return High EIITX % Rank
Bonds
99.73% 15.80% 147.66% 34.57%
Other
0.27% -1.46% 12.83% 3.55%
Stocks
0.00% 0.00% 1.80% 76.91%
Preferred Stocks
0.00% -0.97% 1.06% 75.44%
Convertible Bonds
0.00% 0.00% 1.64% 75.83%
Cash
0.00% -47.66% 84.20% 84.62%

Bond Sector Breakdown

Weighting Return Low Return High EIITX % Rank
Municipal
100.00% 15.80% 100.00% 10.93%
Derivative
0.00% 0.00% 2.16% 75.83%
Cash & Equivalents
0.00% 0.00% 84.20% 96.34%
Securitized
0.00% 0.00% 6.06% 76.45%
Corporate
0.00% 0.00% 12.97% 81.07%
Government
0.00% 0.00% 49.77% 77.01%

Bond Geographic Breakdown

Weighting Return Low Return High EIITX % Rank
US
88.23% 15.80% 141.34% 92.00%
Non US
11.50% 0.00% 27.82% 2.42%

EIITX - Expenses

Operational Fees

EIITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.98% 0.01% 4.23% 33.72%
Management Fee 0.55% 0.00% 1.10% 92.85%
12b-1 Fee 0.25% 0.00% 1.00% 53.45%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

EIITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.50% 5.75% 18.20%
Deferred Load N/A 0.25% 5.50% 80.49%

Trading Fees

EIITX 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.

EIITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 60.00% 0.00% 233.00% 90.21%

EIITX - Distributions

Dividend Yield Analysis

EIITX Category Low Category High EIITX % Rank
Dividend Yield 2.13% 0.00% 3.34% 77.60%

Dividend Distribution Analysis

EIITX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

EIITX Category Low Category High EIITX % Rank
Net Income Ratio 2.74% 0.00% 6.48% 32.22%

Capital Gain Distribution Analysis

EIITX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

EIITX - Fund Manager Analysis

Managers

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.

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.

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