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Name

As of 11/18/2024

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

HIGH-YIELD MUNICIPAL FUND

ABHYX | Fund

$8.94

$605 M

4.25%

$0.38

0.61%

Vitals

YTD Return

6.0%

1 yr return

11.4%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

1.4%

Net Assets

$605 M

Holdings in Top 10

11.8%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.61%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 53.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/18/2024

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

HIGH-YIELD MUNICIPAL FUND

ABHYX | Fund

$8.94

$605 M

4.25%

$0.38

0.61%

ABHYX - Profile

Distributions

  • YTD Total Return 6.0%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.30%
DIVIDENDS
  • Dividend Yield 4.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    HIGH-YIELD MUNICIPAL FUND
  • Fund Family Name
    American Century Investments
  • Inception Date
    Mar 31, 1998
  • Shares Outstanding
    30307110
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joseph Gotelli

Fund Description

The fund invests in municipal and other debt securities with an emphasis on high-yield securities. A high-yield security is one that has been rated below investment-grade, or determined by the investment advisor to be of similar quality.
Under normal market conditions, the portfolio managers invest at least 80% of the fund’s net assets in municipal securities with interest payments exempt from federal income tax. Some of these investments in municipal securities are not necessarily exempt from the federal alternative minimum tax.
The portfolio managers seek to invest in securities that will result in a high yield for the fund. To accomplish this, the portfolio managers buy securities that are rated below investment-grade, including so-called junk bonds and bonds that are in technical or monetary default. Issuers of these securities often have short financial histories or have questionable credit or have had and may continue to have problems making interest and principal payments.
The portfolio managers also may buy unrated securities if they determine such securities meet the investment objectives of the fund.
The managers typically buy long-term and intermediate-term municipal securities, but may purchase municipal securities of any duration. The managers attempt to keep the weighted average maturity of the fund at 10 years or longer.
Although the fund invests principally for income, it also employs techniques designed to realize capital appreciation. For example, the portfolio managers may select bonds with maturities and coupon rates that position the fund for potential capital appreciation for a variety of reasons, including their view on the direction of future interest-rate movements and the potential for a credit upgrade.
When determining whether to sell a security, portfolio managers consider, among other things, current and anticipated changes in interest rates, the credit quality of a particular issuer, comparable alternatives, general market conditions and any other factor deemed relevant by the portfolio managers.
Read More

ABHYX - Performance

Return Ranking - Trailing

Period ABHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.0% -2.2% 12.5% 38.73%
1 Yr 11.4% 0.9% 19.5% 45.59%
3 Yr -0.7%* -8.8% 3.0% 48.76%
5 Yr 1.4%* -5.0% 3.7% 43.15%
10 Yr 3.2%* -0.4% 155.6% 30.23%

* Annualized

Return Ranking - Calendar

Period ABHYX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -6.2% 7.5% 76.47%
2022 -16.1% -26.9% -3.5% 31.34%
2021 2.0% -1.9% 5.6% 60.10%
2020 1.1% -4.0% 4.2% 27.41%
2019 5.3% -0.7% 9.1% 42.93%

Total Return Ranking - Trailing

Period ABHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.0% -2.2% 12.5% 38.73%
1 Yr 11.4% 0.9% 19.5% 45.59%
3 Yr -0.7%* -8.8% 3.0% 48.76%
5 Yr 1.4%* -5.0% 3.7% 43.15%
10 Yr 3.2%* -0.4% 155.6% 30.23%

* Annualized

Total Return Ranking - Calendar

Period ABHYX Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% -4.1% 10.9% 64.22%
2022 -12.9% -26.9% 4.3% 32.84%
2021 6.2% -1.9% 10.0% 34.34%
2020 3.8% -2.6% 8.2% 40.61%
2019 9.4% -0.7% 1028633.9% 30.37%

NAV & Total Return History

ABHYX - Holdings

Concentration Analysis

ABHYX Category Low Category High ABHYX % Rank
Net Assets 605 M 9.79 K 15.6 B 56.44%
Number of Holdings 371 1 3325 56.72%
Net Assets in Top 10 72 M -102 M 3.51 B 68.16%
Weighting of Top 10 11.82% 4.6% 98.8% 64.00%

Top 10 Holdings

  1. Buckeye Tobacco Settlement Financing Authority 5.00% 06/01/2055 1.87%
  2. New York City Municipal Water Finance Authority 5.00% 06/15/2050 1.75%
  3. Clifton Higher Education Finance Corp 6.13% 08/15/2048 1.66%
  4. City of New York NY 5.00% 04/01/2043 1.21%
  5. Kentucky Public Energy Authority 4.00% 12/01/2049 1.07%
  6. Metropolitan Transportation Authority 5.25% 11/15/2055 0.86%
  7. Central Plains Energy Project 5.00% 05/01/2053 0.86%
  8. New Jersey Transportation Trust Fund Authority 5.00% 06/15/2044 0.85%
  9. State of Washington 5.00% 02/01/2042 0.85%
  10. New Jersey Economic Development Authority 5.00% 10/01/2047 0.84%

Asset Allocation

Weighting Return Low Return High ABHYX % Rank
Bonds 		98.98% 0.00% 146.69% 53.92%
Stocks 		0.51% 0.00% 99.62% 14.22%
Cash 		0.51% -0.64% 100.00% 49.25%
Other 		0.00% -5.59% 5.07% 21.89%
Preferred Stocks 		0.00% -47.61% 0.00% 48.76%
Convertible Bonds 		0.00% 0.00% 0.00% 44.28%

Stock Sector Breakdown

Weighting Return Low Return High ABHYX % Rank
Utilities 		0.00% 0.00% 0.00% N/A
Technology 		0.00% 0.00% 0.00% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 4.78% N/A
Healthcare 		0.00% 0.00% 0.00% N/A
Financial Services 		0.00% 0.00% 0.00% N/A
Energy 		0.00% 0.00% 0.00% N/A
Communication Services 		0.00% 0.00% 0.00% N/A
Consumer Defense 		0.00% 0.00% 0.00% N/A
Consumer Cyclical 		0.00% 0.00% 77.65% N/A
Basic Materials 		0.00% 17.58% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High ABHYX % Rank
US 		0.51% 0.00% 99.62% 14.43%
Non US 		0.00% 0.00% 0.00% 44.28%

Bond Sector Breakdown

Weighting Return Low Return High ABHYX % Rank
Municipal 		99.91% 0.00% 100.00% 9.45%
Derivative 		0.00% -7.53% 2.16% 13.93%
Cash & Equivalents 		0.00% 0.00% 100.00% 66.17%
Securitized 		0.00% 0.00% 22.44% 46.77%
Corporate 		0.00% 0.00% 2.83% 72.14%
Government 		0.00% 0.00% 0.09% 47.26%

Bond Geographic Breakdown

Weighting Return Low Return High ABHYX % Rank
US 		98.98% 0.00% 139.84% 48.76%
Non US 		0.00% 0.00% 13.35% 48.76%

ABHYX - Expenses

Operational Fees

ABHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.61% 0.22% 3.44% 88.18%
Management Fee 0.59% 0.00% 1.41% 81.86%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

ABHYX 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% 4.00% N/A

Trading Fees

ABHYX 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.

ABHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 53.00% 2.00% 121.00% 80.95%

ABHYX - Distributions

Dividend Yield Analysis

ABHYX Category Low Category High ABHYX % Rank
Dividend Yield 4.25% 0.00% 5.94% 42.65%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ABHYX Category Low Category High ABHYX % Rank
Net Income Ratio 3.30% 1.11% 5.44% 41.67%

Capital Gain Distribution Analysis

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

Distributions History

View More +

ABHYX - Fund Manager Analysis

Managers

Joseph Gotelli

Start Date

Tenure

Tenure Rank

Jan 01, 2012

10.42

10.4%

Mr. Gotelli, Portfolio Manager and Vice President, has joined American Century Investments since 2008. He has shared primary responsibility for the management of the fund, and has served on teams managing fixed-income investments since joining the advisor. Prior to joining American Century Investments, he was an assistant portfolio manager at Franklin Templeton Investments for seven years. He has a bachelor’s degree in business economics from the University of California, Santa Barbara and an MBA from Santa Clara University.

Alan Kruss

Start Date

Tenure

Tenure Rank

Jan 01, 2012

10.42

10.4%

Mr. Kruss, Vice President and Portfolio Manager, has been a member of the team that manages Government Agency Money Market since November 2001. He joined American Century in 1997 as an Investment Administrator. In 2000, he was named Fixed Income Trader and in 2001, he was named Portfolio Manager. He has a bachelor's degree in finance from San Francisco State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.55 2.52

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