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Name

As of

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

Highland Tax Exempt Fund

HTXAX |

-

$10.8 M

-

1.49%

Vitals

YTD Return

N/A

1 yr return

3.8%

3 Yr Avg Return

1.5%

5 Yr Avg Return

2.3%

Net Assets

$10.8 M

Holdings in Top 10

51.5%

52 WEEK LOW AND HIGH

N/A
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.49%

SALES FEES

Front Load 4.25%

Deferred Load N/A

TRADING FEES

Turnover 3.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of

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

Highland Tax Exempt Fund

HTXAX |

-

$10.8 M

-

1.49%

HTXAX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.34%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Highland Tax Exempt Fund
  • Fund Family Name
    Highland Funds
  • Inception Date
    Sep 08, 1993
  • Shares Outstanding
    912857
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Hakopian

Fund Description

HTXAX - Performance

Return Ranking - Trailing

Period HTXAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A 0.0% 5.6% N/A
1 Yr 3.8% -3.2% 5.4% N/A
3 Yr 1.5%* -2.9% 1.5% N/A
5 Yr 2.3%* -1.8% 2.3% N/A
10 Yr 3.2%* -8.7% 2.4% N/A

* Annualized

Return Ranking - Calendar

Period HTXAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -4.8% 0.8% N/A
2022 N/A -0.9% 5.6% N/A
2021 N/A -6.1% 7.3% N/A
2020 N/A -10.9% 2.6% N/A
2019 N/A -60.4% 12.0% N/A

Total Return Ranking - Trailing

Period HTXAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A 0.0% 5.6% N/A
1 Yr -0.6% -2.9% 6.9% N/A
3 Yr 0.0%* -2.9% 3.2% N/A
5 Yr 1.5%* -1.8% 3.7% N/A
10 Yr 2.7%* -8.7% 5.0% N/A

* Annualized

Total Return Ranking - Calendar

Period HTXAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -4.8% 1.7% N/A
2022 N/A -0.9% 6.2% N/A
2021 N/A -6.1% 7.3% N/A
2020 N/A -9.6% 3.9% N/A
2019 N/A -60.4% 12.0% N/A

HTXAX - Holdings

Concentration Analysis

HTXAX Category Low Category High HTXAX % Rank
Net Assets 10.8 M 770 K 66.2 B N/A
Number of Holdings 30 3 8426 N/A
Net Assets in Top 10 5.58 M -122 M 2.02 B N/A
Weighting of Top 10 51.46% 2.5% 100.0% N/A

Top 10 Holdings

  1. GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV 5% 5.45%
  2. CAROL STREAM ILL PK DIST 5% 5.30%
  3. NEW JERSEY ECONOMIC DEV AUTH REV 5% 5.18%
  4. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 5.17%
  5. TEXAS TRANSN COMMN CENT TEX TPK SYS REV 5% 5.14%
  6. REGIONAL TRANSN DIST COLO SALES TAX REV 5% 5.12%
  7. NEW JERSEY ST EDL FACS AUTH REV 5% 5.09%
  8. PENNSYLVANIA ST HIGHER EDL FACS AUTH REV 5% 5.07%
  9. PENNSYLVANIA ST TPK COMMN TPK REV 5% 5.03%
  10. FAIRFIELD CONN 5% 4.90%

Asset Allocation

Weighting Return Low Return High HTXAX % Rank
Bonds 		100.89% 17.56% 101.83% N/A
Stocks 		0.00% 0.00% 0.01% N/A
Preferred Stocks 		0.00% 0.00% 9.32% N/A
Other 		0.00% -1.53% 30.00% N/A
Convertible Bonds 		0.00% 0.00% 2.58% N/A
Cash 		-0.89% -1.83% 82.44% N/A

Bond Sector Breakdown

Weighting Return Low Return High HTXAX % Rank
Municipal 		100.89% 0.00% 112.93% N/A
Derivative 		0.00% 0.00% 0.01% N/A
Securitized 		0.00% 0.00% 25.65% N/A
Corporate 		0.00% 0.00% 34.88% N/A
Government 		0.00% -13.64% 71.35% N/A
Cash & Equivalents 		-0.89% -4.96% 82.44% N/A

Bond Geographic Breakdown

Weighting Return Low Return High HTXAX % Rank
US 		100.89% 17.56% 101.37% N/A
Non US 		0.00% 0.00% 23.81% N/A

HTXAX - Expenses

Operational Fees

HTXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.49% 0.09% 4.80% N/A
Management Fee 0.35% 0.00% 0.65% N/A
12b-1 Fee 0.25% 0.00% 1.00% N/A
Administrative Fee 0.20% 0.01% 0.34% N/A

Sales Fees

HTXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 0.50% 5.75% N/A
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

HTXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

HTXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 3.00% 0.00% 504.54% N/A

HTXAX - Distributions

Dividend Yield Analysis

HTXAX Category Low Category High HTXAX % Rank
Dividend Yield 0.00% 0.00% 2.44% N/A

Dividend Distribution Analysis

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

Net Income Ratio Analysis

HTXAX Category Low Category High HTXAX % Rank
Net Income Ratio 2.34% 0.01% 4.95% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

HTXAX - Fund Manager Analysis

Managers

John Hakopian

Start Date

Tenure

Tenure Rank

Aug 01, 2014

4.75

4.8%

Mr. Hakopian is Portfolio Manager and President of First Foundation Advisors (“FFA”) and a Director of First Foundation Inc. and First Foundation Bank. Mr. Hakopian oversees the vision, strategy, operations and development of the investment management service for FFA. Having been with FFA since its inception in 1990, Mr. Hakopian has been closely involved in developing and delivering the firm’s investment services. He became President in 2009. Mr. Hakopian earned a Bachelor of Arts degree in economics in three years from the University of California, Irvine and an MBA in Finance from the University of Southern California.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.5 17.18 3.07 0.5

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