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Trending ETFs

Name

As of 03/27/2024

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

$9.56

$127 M

0.00%

0.89%

Vitals

YTD Return

1.4%

1 yr return

6.0%

3 Yr Avg Return

-2.1%

5 Yr Avg Return

0.7%

Net Assets

$127 M

Holdings in Top 10

9.7%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.89%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 19.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$9.56

$127 M

0.00%

0.89%

GHYMX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return -2.1%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.40%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    High Yield Municipal Portfolio
  • Fund Family Name
    GLENMEDEFU
  • Inception Date
    Dec 22, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Chad Rach

Fund Description

Under normal circumstances, the Portfolio will invest at least 80% of the value of its net assets (including borrowings for investment purposes) in, or derive at least 80% of its income from, municipal securities that pay interest that is exempt from regular Federal income tax, but may, in certain instances, subject you to Federal alternative minimum tax. Municipal securities are debt obligations generally issued by a state, territory or possession of the United States (including the District of Columbia) or a political subdivision, agency or instrumentality thereof to obtain funds for various public purposes, including the construction of public facilities. The Portfolio may invest, without limitation, in municipal securities that pay interest that may subject you to Federal alternative minimum tax. The Federal alternative minimum tax is a Federal income tax imposed on non-corporate taxpayers calculated separately from the regular Federal income tax. It is designed to prevent non-corporate taxpayers from using certain deductions and credits (called tax-preference items) to pay little or no taxes. Certain private activity bonds pay interest that may be treated as a
tax-preference item under the Federal alternative minimum tax. To the extent that the Portfolio invests in private activity bonds, a portion of the Portfolio’s dividends may be subject to Federal income tax for shareholders subject to Federal alternative minimum tax. The Portfolio will generally invest in municipal securities rated BB or below or Ba or below
(commonly referred to as “junk bonds”) by a nationally recognized statistical rating organization (a “NRSRO”) designated by AllianceBernstein L.P. (“AllianceBernstein” or the “Sub-Advisor”), medium quality securities rated BBB or Baa by a NRSRO, or upper medium quality securities rated A by a NRSRO or unrated but determined to be of comparable quality at the time of purchase. There is no minimum rating for a municipal security held by the Portfolio, and the Portfolio may purchase securities that are in default. Some of the securities in which the Portfolio will invest may have credit and liquidity support features, including guarantees and letters of credit. In seeking to achieve its objective, the Portfolio may forego opportunities that would result in capital gains and may accept prudent risks to capital value, in each case to take advantage of opportunities for higher current income. The Portfolio does not have any portfolio maturity limitations and may invest its assets in instruments with short, medium and long maturities.
The Sub-Advisor seeks to purchase attractively priced securities that it considers to represent good, long-term investment opportunities. The Sub-Advisor analyzes various factors to help identify securities, which may include the credit strength of the issuer, prices of similar securities issued by comparable issuers, anticipated changes in interest rates, general market conditions and other factors pertinent to the particular security being evaluated. A security may be sold when the Sub-Advisor believes that it no longer represents a relatively attractive investment opportunity. The
Sub-Advisor may invest in derivative instruments, such as swaps, for hedging or risk management purposes, or as a part of the Portfolio’s investment strategy.
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GHYMX - Performance

Return Ranking - Trailing

Period GHYMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -2.5% 4.4% 60.19%
1 Yr 6.0% -2.0% 10.2% 50.49%
3 Yr -2.1%* -8.7% 2.4% 87.06%
5 Yr 0.7%* -4.5% 526.2% 75.52%
10 Yr N/A* 0.3% 156.1% N/A

* Annualized

Return Ranking - Calendar

Period GHYMX Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% -1.5% 7.5% 61.65%
2022 -16.4% -26.9% -3.5% 36.95%
2021 1.5% -1.9% 5.6% 68.50%
2020 0.8% -10.1% 4.2% 39.39%
2019 5.9% 2.0% 9.1% 30.73%

Total Return Ranking - Trailing

Period GHYMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -2.5% 4.4% 60.19%
1 Yr 6.0% -2.0% 10.2% 50.49%
3 Yr -2.1%* -8.7% 2.4% 87.06%
5 Yr 0.7%* -4.5% 526.2% 75.52%
10 Yr N/A* 0.3% 156.1% N/A

* Annualized

Total Return Ranking - Calendar

Period GHYMX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% 0.4% 10.9% 52.91%
2022 -16.4% -26.9% -2.9% 79.80%
2021 4.6% -1.9% 10.0% 68.50%
2020 3.7% -4.1% 8.2% 42.93%
2019 8.7% 3.5% 1028633.9% 48.96%

NAV & Total Return History


GHYMX - Holdings

Concentration Analysis

GHYMX Category Low Category High GHYMX % Rank
Net Assets 127 M 9.07 K 15.9 B 81.64%
Number of Holdings 375 1 3033 52.91%
Net Assets in Top 10 12.3 M -102 M 3.44 B 93.20%
Weighting of Top 10 9.66% 5.0% 100.7% 82.93%

Top 10 Holdings

  1. DIST OF COLUMBIA INCOME TAX SECURED REVENUE 1.90%
  2. HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE 1.00%
  3. CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE 0.93%
  4. WISCONSIN ST TRANSPRTN REVENUE 0.88%
  5. ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE 0.84%
  6. INDIANA FIN AUTH IN WSTWTR UTIL REVENUE 0.84%
  7. PUERTO RICO CMWLTH 0.82%
  8. NEW YORK ST URBAN DEV CORP REVENUE 0.82%
  9. NEW JERSEY ST ECON DEV AUTH REV 0.82%
  10. KING CNTY WA SCH DIST #411 ISSAQUAH 0.81%

Asset Allocation

Weighting Return Low Return High GHYMX % Rank
Bonds
95.84% 0.00% 146.69% 77.51%
Cash
3.40% -0.64% 100.00% 22.82%
Other
0.76% -12.04% 8.29% 6.31%
Stocks
0.00% 0.00% 99.38% 62.20%
Preferred Stocks
0.00% -47.61% 1.89% 47.57%
Convertible Bonds
0.00% 0.00% 0.00% 47.57%

Bond Sector Breakdown

Weighting Return Low Return High GHYMX % Rank
Municipal
99.38% 0.00% 100.00% 27.67%
Derivative
0.76% -12.35% 1.08% 2.91%
Cash & Equivalents
0.00% 0.00% 100.00% 70.87%
Securitized
0.00% 0.00% 22.44% 50.00%
Corporate
0.00% 0.00% 2.83% 73.79%
Government
0.00% 0.00% 0.09% 50.97%

Bond Geographic Breakdown

Weighting Return Low Return High GHYMX % Rank
US
95.84% 0.00% 139.84% 73.79%
Non US
0.00% 0.00% 13.35% 53.88%

GHYMX - Expenses

Operational Fees

GHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.89% 0.21% 3.44% 54.63%
Management Fee 0.57% 0.00% 1.41% 80.38%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.02% 0.35% 90.16%

Sales Fees

GHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

GHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 19.00% 2.00% 121.00% 48.96%

GHYMX - Distributions

Dividend Yield Analysis

GHYMX Category Low Category High GHYMX % Rank
Dividend Yield 0.00% 0.00% 6.58% 38.28%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

GHYMX Category Low Category High GHYMX % Rank
Net Income Ratio 2.40% 1.11% 5.70% 81.82%

Capital Gain Distribution Analysis

GHYMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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GHYMX - Fund Manager Analysis

Managers

Chad Rach


Start Date

Tenure

Tenure Rank

Dec 22, 2015

6.44

6.4%

Primary title with Capital Research and Management Company, Senior Vice President and Capital Fixed Income Investors. Rach is a portfolio manager with Strong, where he started in March 2000 as a fixed income analyst. Prior to this, he was assistant vice president with both Robert W. Baird & Co. and Miller & Schroeder Financial. He also worked as Director of Community Development for the city of Glendale, WI.

Jerome Solomon


Start Date

Tenure

Tenure Rank

Oct 01, 2017

4.67

4.7%

Jerome H. Solomon, Partner — Capital Fixed Income Investors, a division of an affiliate of the Capital Guardian Trust Company . Mr. Solomon has been employed by Capital Guardian Trust Company and its affiliates since 2008.

Courtney Wolf


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Matthew Norton


Start Date

Tenure

Tenure Rank

May 09, 2022

0.06

0.1%

Matthew Norton is a Senior Vice President and Co-Head of Municipal Portfolio Management, responsible for overseeing municipal bond investing at AB. He is also a member of the Municipal Impact Investment Policy Group. Previously, Mr. Norton was a portfolio manager on the Municipal Bond team. He joined AB in 2005, focusing primarily on research in tax-exempt and taxable fixed-income markets. Prior to joining the firm, Mr. Norton worked as a statistical research analyst at St. Lawrence University, evaluating the accuracy of biometric devices. He holds a BS in economics and mathematics from St. Lawrence University and an MBA in economics and quantitative finance from the Leonard N. Stern School of Business at New York University. Location: New York

Terrance Hults


Start Date

Tenure

Tenure Rank

May 09, 2022

0.06

0.1%

Terrance T. Hults is a member of the Tax-Exempt Fixed-Income Investment Policy Group. Prior to joining the firm, he was an associate in the Municipal Derivative Products department at Merrill Lynch Capital Markets, where he specialized in securities arbitrage. These transactions involved issuers and investors, as well as proprietary trading and utilized futures, options, interest-rate swaps, and other over-the-counter derivative structures. Mr. Hults received a BA in economics from Williams College and an MBA in finance from Columbia University. Location: New York

Andrew Potter


Start Date

Tenure

Tenure Rank

May 09, 2022

0.06

0.1%

Andrew Potter is a Vice President and Portfolio Manager on the Municipal Bond team, which oversees tax-exempt investing at AllianceBernstein. He joined the team in 2007 as an associate portfolio manager (APM), responsible for monitoring risk exposures and implementing investment strategy across the firm’s tax-aware fixed-income platform. In 2013, Mr. Potter took on additional responsibility as supervisor for the team’s APMs. He moved into his current role in 2015, shifting his focus toward developing portfolio strategy. Mr. Potter holds a BA in physics with a minor in economics from Colgate University. He is a CFA charterholder and a member of the CFA Society New York. Location: New York

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52