First Investors Tax Exempt NJ Instl
Name
As ofPrice
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.3%
1 yr return
1.4%
3 Yr Avg Return
0.5%
5 Yr Avg Return
0.2%
Net Assets
$34.9 M
Holdings in Top 10
36.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.85%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 47.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As ofPrice
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FINNX - Profile
Distributions
- YTD Total Return 1.3%
- 3 Yr Annualized Total Return 0.5%
- 5 Yr Annualized Total Return 0.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.85%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDelaware Tax-Free New Jersey Fund
-
Fund Family NameFirst Investors
-
Inception DateMay 01, 2013
-
Shares OutstandingN/A
-
Share ClassRetirement
-
CurrencyUSD
-
Domiciled CountryUnited States
Fund Description
Under normal circumstances, at least 80% of the Fund’s net assets (plus any borrowings for investment purposes) will be invested in municipal securities that pay interest that is exempt from federal income tax, including the federal alternative minimum tax, and any applicable state income tax for individual residents of the state of New Jersey (80% policy). However, the Fund typically attempts to invest all of its assets in securities that pay interest that is exempt from federal income tax and state income tax for individual residents of such state, but may invest up to 20% of its net assets in securities that pay interest that is subject to the federal alternative minimum tax. Such securities include obligations issued by municipalities and other authorities in New Jersey and US possessions and territories. In certain cases, dividends paid by the Fund may also be exempt from local personal income taxes.
The Fund primarily invests in high quality municipal securities that are rated as, or, if unrated, are determined by the Manager to be, investment grade at the time of purchase. The Fund may invest in securities insured against default by independent insurance companies and revenue bonds. The Fund may also invest in variable and floating rate securities, as well as interest rate swaps, futures and options on futures to hedge against interest rate changes and inverse floaters to produce income.
To a lesser extent, the Fund may invest in high yield, below investment grade municipal bonds (commonly known as “high yield” or “junk bonds”). High yield bonds include those that are rated below Baa3 by Moody’s Investors Service, Inc. or below BBB- by Standard & Poor’s and unrated bonds that are determined by the Manager to be of equivalent quality. When making investment decisions, the Manager focuses on bonds that it believes can generate attractive and consistent income.
In selecting investments for the Fund, the Manager considers various factors, including: a security’s maturity, coupon, yield, credit quality, call protection and relative value and the outlook for interest rates and the economy. The Manager may sell a security for various reasons, including to replace it with a security that offers a higher yield or better value, respond to a deterioration in credit quality, or raise cash. The Manager generally considers any capital gains or losses that may be incurred upon the sale of an investment. In addition, the Manager considers the duration of the Fund’s portfolio when deciding whether to buy or sell a security.
The Fund will generally have a dollar-weighted average effective maturity of between 5 and 30 years.
FINNX - Performance
Return Ranking - Trailing
Period | FINNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.3% | -2.7% | 2.6% | 3.70% |
1 Yr | 1.4% | -2.8% | 5.7% | 7.41% |
3 Yr | 0.5%* | -0.2% | 2.7% | 50.00% |
5 Yr | 0.2%* | -0.4% | 1.4% | 67.39% |
10 Yr | N/A* | -0.8% | 1.2% | 16.00% |
* Annualized
Return Ranking - Calendar
Period | FINNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.0% | 3.3% | 7.6% | 56.60% |
2022 | -3.0% | -3.2% | 11.0% | 90.00% |
2021 | 0.6% | -10.1% | 4.0% | 85.11% |
2020 | -2.7% | -3.6% | -1.4% | 38.30% |
2019 | -1.7% | -4.8% | -0.1% | 86.96% |
Total Return Ranking - Trailing
Period | FINNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.3% | -2.7% | 2.6% | 3.70% |
1 Yr | 1.4% | -2.8% | 5.7% | 7.41% |
3 Yr | 0.5%* | -0.2% | 2.7% | 50.00% |
5 Yr | 0.2%* | -0.4% | 1.4% | 67.39% |
10 Yr | N/A* | -0.8% | 1.2% | 14.00% |
* Annualized
Total Return Ranking - Calendar
Period | FINNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.0% | 3.3% | 7.6% | 56.60% |
2022 | -3.0% | -3.2% | 11.0% | 90.00% |
2021 | 0.6% | -10.1% | 4.0% | 85.11% |
2020 | -2.7% | -3.6% | -1.4% | 46.81% |
2019 | -1.7% | -4.8% | -0.1% | 86.96% |
FINNX - Holdings
Concentration Analysis
FINNX | Category Low | Category High | FINNX % Rank | |
---|---|---|---|---|
Net Assets | 34.9 M | 33.8 M | 2.47 B | 96.30% |
Number of Holdings | 56 | 53 | 747 | 96.30% |
Net Assets in Top 10 | 13 M | 12.7 M | 194 M | 96.30% |
Weighting of Top 10 | 36.51% | 7.8% | 48.0% | 16.67% |
Top 10 Holdings
- HUDSON CNTY N J 4% 4.44%
- CAPE MAY CNTY N J INDL POLLUTN CTL FING AUTH REV 6.8% 3.95%
- PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% 3.80%
- ESSEX CNTY N J IMPT AUTH REV 5.5% 3.77%
- NEW JERSEY ST EDL FACS AUTH REV 5% 3.58%
- GARDEN ST N J PRESERVATION TR OPEN SPACE & FARMLAND PRESERVATION 5.75% 3.51%
- HUDSON CNTY N J IMPT AUTH FAC LEASE REV 5.38% 3.39%
- NEW JERSEY HEALTH CARE FACS FING AUTH REV 5% 3.39%
- LIVINGSTON TWP N J SCH DIST 5% 3.35%
- NEW JERSEY ST EDL FACS AUTH REV 5% 3.33%
Asset Allocation
Weighting | Return Low | Return High | FINNX % Rank | |
---|---|---|---|---|
Bonds | 99.56% | 93.19% | 101.14% | 46.30% |
Other | 0.44% | -0.19% | 0.44% | 1.85% |
Stocks | 0.00% | 0.00% | 0.00% | 22.22% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 22.22% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 22.22% |
Cash | 0.00% | -1.13% | 6.81% | 79.63% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FINNX % Rank | |
---|---|---|---|---|
Municipal | 100.00% | 92.23% | 100.00% | 7.41% |
Derivative | 0.00% | 0.00% | 0.00% | 22.22% |
Cash & Equivalents | 0.00% | 0.00% | 7.77% | 83.33% |
Securitized | 0.00% | 0.00% | 0.00% | 22.22% |
Corporate | 0.00% | 0.00% | 0.00% | 22.22% |
Government | 0.00% | -0.01% | 0.00% | 22.22% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FINNX % Rank | |
---|---|---|---|---|
US | 90.29% | 84.34% | 100.06% | 81.48% |
Non US | 9.27% | 0.00% | 14.92% | 12.96% |
FINNX - Expenses
Operational Fees
FINNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.85% | 0.09% | 1.87% | 44.44% |
Management Fee | 0.55% | 0.08% | 0.60% | 79.63% |
12b-1 Fee | N/A | 0.00% | 1.00% | 5.88% |
Administrative Fee | N/A | 0.04% | 0.20% | N/A |
Sales Fees
FINNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 4.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FINNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
FINNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 47.00% | 4.00% | 117.00% | 85.19% |
FINNX - Distributions
Dividend Yield Analysis
FINNX | Category Low | Category High | FINNX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 2.55% | 29.63% |
Dividend Distribution Analysis
FINNX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FINNX | Category Low | Category High | FINNX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.85% | 1.86% | 3.64% | 51.85% |
Capital Gain Distribution Analysis
FINNX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jul 05, 2019 | $0.028 | |
Jun 05, 2019 | $0.032 | |
May 06, 2019 | $0.031 | |
May 05, 2019 | $0.031 | |
Apr 05, 2019 | $0.036 | |
Mar 05, 2019 | $0.034 | |
Feb 05, 2019 | $0.036 | |
Jan 05, 2019 | $0.037 | |
Dec 05, 2018 | $0.037 | |
Nov 05, 2018 | $0.036 | |
Sep 05, 2018 | $0.037 | |
Aug 06, 2018 | $0.036 | |
Jul 05, 2018 | $0.038 | |
Jun 05, 2018 | $0.034 | |
May 04, 2018 | $0.038 | |
Apr 05, 2018 | $0.038 | |
Mar 05, 2018 | $0.038 | |
Feb 05, 2018 | $0.039 | |
Jan 05, 2018 | $0.037 | |
Dec 05, 2017 | $0.039 | |
Nov 06, 2017 | $0.039 | |
Oct 05, 2017 | $0.038 | |
Sep 05, 2017 | $0.039 | |
Aug 04, 2017 | $0.039 | |
Jul 05, 2017 | $0.039 | |
Jun 05, 2017 | $0.039 | |
May 05, 2017 | $0.039 | |
Apr 05, 2017 | $0.039 | |
Mar 06, 2017 | $0.039 | |
Feb 06, 2017 | $0.039 | |
Jan 05, 2017 | $0.039 | |
Dec 05, 2016 | $0.039 | |
Nov 04, 2016 | $0.039 | |
Oct 05, 2016 | $0.039 | |
Sep 06, 2016 | $0.040 | |
Aug 05, 2016 | $0.040 | |
Jul 05, 2016 | $0.042 | |
Jun 06, 2016 | $0.042 | |
May 05, 2016 | $0.042 | |
Apr 04, 2016 | $0.042 | |
Mar 04, 2016 | $0.042 | |
Feb 05, 2016 | $0.042 | |
Jan 05, 2016 | $0.042 | |
Dec 04, 2015 | $0.042 | |
Nov 05, 2015 | $0.042 | |
Oct 05, 2015 | $0.042 | |
Sep 04, 2015 | $0.042 | |
Aug 05, 2015 | $0.042 | |
Jul 06, 2015 | $0.042 | |
Jun 05, 2015 | $0.042 | |
May 05, 2015 | $0.042 | |
Apr 06, 2015 | $0.042 | |
Mar 05, 2015 | $0.042 | |
Feb 05, 2015 | $0.042 | |
Jan 05, 2015 | $0.042 | |
Dec 05, 2014 | $0.042 | |
Nov 05, 2014 | $0.042 | |
Oct 06, 2014 | $0.042 | |
Sep 05, 2014 | $0.042 | |
Aug 05, 2014 | $0.042 | |
Jul 07, 2014 | $0.042 | |
Jun 05, 2014 | $0.039 | |
May 05, 2014 | $0.039 | |
Apr 07, 2014 | $0.041 | |
Mar 05, 2014 | $0.041 | |
Feb 05, 2014 | $0.041 | |
Jan 06, 2014 | $0.041 | |
Dec 05, 2013 | $0.041 | |
Nov 05, 2013 | $0.041 | |
Oct 04, 2013 | $0.041 | |
Sep 05, 2013 | $0.041 | |
Aug 05, 2013 | $0.041 | |
Jul 05, 2013 | $0.041 | |
Jun 05, 2013 | $0.041 |