HYMAX: Lord Abbett High Yield Municipal Bond Fund - MutualFunds.com

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Lord Abbett High Yield Municipal Bond A

HYMAX - Snapshot

Vitals

  • YTD Return -2.2%
  • 3 Yr Annualized Return 5.0%
  • 5 Yr Annualized Return 4.9%
  • Net Assets $3.28 B
  • Holdings in Top 10 13.0%

52 WEEK LOW AND HIGH

$12.32
$10.66
$13.14

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.79%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 11.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $1,000

Fund Classification


Compare HYMAX to Popular High Yield Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$17.16

+0.18%

$18.58 B

0.00%

$0.00

-4.61%

0.99%

$9.98

+0.10%

$9.63 B

-

$0.00

-3.11%

1.13%

$10.23

+0.20%

$8.89 B

-

$0.00

-0.58%

0.57%

$12.95

+0.08%

$8.49 B

0.00%

$0.00

-0.23%

0.88%

$16.35

+0.12%

$7.74 B

-

$0.00

-0.55%

0.68%

HYMAX - Profile

Distributions

  • YTD Total Return -2.2%
  • 3 Yr Annualized Total Return 4.2%
  • 5 Yr Annualized Total Return 4.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.09%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Lord Abbett High Yield Municipal Bond Fund
  • Fund Family Name
    Lord Abbett
  • Inception Date
    Dec 30, 2004
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Daniel Solender

Fund Description

The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that pay interest exempt from federal income tax. Under normal circumstances, it seeks to maintain a dollar-weighted average maturity of between ten and twenty-five years. The fund is non-diversified.


HYMAX - Performance

Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.2% -10.9% 3.8% 75.83%
1 Yr -0.2% -8.3% 5.2% 70.56%
3 Yr 5.0%* 1.4% 8.2% 14.01%
5 Yr 4.9%* 2.1% 7.6% 21.72%
10 Yr 4.9%* 3.1% 7.7% 58.78%

* Annualized

Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
2019 7.2% -0.7% 11.7% 6.80%
2018 -0.3% -5.7% 95.6% 13.54%
2017 3.1% -0.7% 8.6% 68.82%
2016 -1.7% -6.7% -0.8% 12.96%
2015 -1.0% -4.0% 2.9% 85.31%

Total Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.2% -10.9% 3.8% 75.83%
1 Yr -2.4% -8.3% 5.2% 77.57%
3 Yr 4.2%* 1.3% 8.2% 32.37%
5 Yr 4.5%* 1.9% 7.6% 30.81%
10 Yr 4.7%* 3.1% 7.7% 60.81%

* Annualized

Total Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
2019 7.2% -0.7% 12.0% 8.74%
2018 -0.3% -5.7% 4.2% 19.27%
2017 3.1% -0.7% 9.8% 70.59%
2016 -1.7% -6.1% 1.1% 20.37%
2015 -1.0% -4.0% 5.3% 85.31%

NAV & Total Return History


HYMAX - Holdings

Concentration Analysis

HYMAX Category Low Category High HYMAX % Rank
Net Assets 3.28 B 478 K 18.6 B 23.96%
Number of Holdings 611 5 3470 38.99%
Net Assets in Top 10 421 M -38.2 M 2.4 B 23.39%
Weighting of Top 10 12.98% 4.8% 99.9% 54.59%

Top 10 Holdings

  1. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 2.63%
  2. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 1.50%
  3. TUSCALOOSA CNTY ALA INDL DEV GULF OPPORTUNITY ZONE 5.25% 1.32%
  4. ARKANSAS ST DEV FIN AUTH INDL DEV REV 4.5% 1.25%
  5. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 1.11%
  6. TSASC INC N Y 5% 1.09%
  7. OHIO ST AIR QUALITY DEV AUTH EXEMPT FACS REV 5% 1.08%
  8. IOWA FIN AUTH MIDWESTERN DISASTER AREA REV 5.25% 1.02%
  9. NEW YORK LIBERTY DEV CORP LIBERTY REV 5% 1.01%
  10. NEW YORK TRANSN DEV CORP SPL FAC REV 5% 0.97%

Asset Allocation

Weighting Return Low Return High HYMAX % Rank
Bonds
99.60% 66.11% 143.82% 38.53%
Cash
0.40% -1.34% 32.09% 57.80%
Stocks
0.00% 0.00% 2.72% 20.18%
Preferred Stocks
0.00% -43.98% 0.00% 6.42%
Other
0.00% -1.80% 3.80% 19.72%
Convertible Bonds
0.00% 0.00% 0.00% 6.42%

Bond Sector Breakdown

Weighting Return Low Return High HYMAX % Rank
Municipal
99.60% 67.32% 100.00% 35.78%
Cash & Equivalents
0.40% 0.00% 32.68% 62.39%
Derivative
0.00% 0.00% 0.23% 9.17%
Securitized
0.00% 0.00% 0.00% 6.42%
Corporate
0.00% 0.00% 12.53% 38.07%
Government
0.00% 0.00% 0.80% 12.84%

Bond Geographic Breakdown

Weighting Return Low Return High HYMAX % Rank
US
95.03% 66.11% 136.78% 37.61%
Non US
4.57% 0.00% 12.73% 53.67%

HYMAX - Expenses

Operational Fees

HYMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.18% 7.04% 63.26%
Management Fee 0.46% 0.00% 1.60% 26.61%
12b-1 Fee 0.20% 0.00% 1.00% 25.21%
Administrative Fee 0.04% 0.01% 0.35% 9.52%

Sales Fees

HYMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 1.00% 4.75% 90.91%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

HYMAX 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.

HYMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 2.00% 314.00% 11.52%

HYMAX - Distributions

Dividend Yield Analysis

HYMAX Category Low Category High HYMAX % Rank
Dividend Yield 0.00% 0.00% 3.06% 9.63%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

HYMAX Category Low Category High HYMAX % Rank
Net Income Ratio 4.09% -0.98% 6.28% 21.30%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

HYMAX - Fund Manager Analysis

Managers

Daniel Solender


Start Date

Tenure

Tenure Rank

Sep 14, 2006

14.14

14.1%

Mr. Solender is the lead portfolio manager of the municipal bond capabilities. Mr. Solender joined Lord Abbett in 2006 and was named Partner in 2008. His prior experience includes: Vice President and Portfolio Manager at Nuveen Investments; Principal and Portfolio Manager at Vanguard Group; Assistant Vice President and Portfolio Manager at Nuveen Advisory Corp.; Financial Analyst/Assistant Manager, Research and Product Development at Citibank. Mr. Solender received a BA from the University of Columbia and an MBA from the University of Chicago. He is the holder of a Chartered Financial Analyst designation and has been in the investment business since 1987.

Gregory Shuman


Start Date

Tenure

Tenure Rank

Feb 01, 2019

1.75

1.8%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 22.6 7.04 0.94