Welcome to MutualFunds.com. Please help us personalize your experience.

Select the one that best describes you

Your personalized experience is almost ready.

Join other Individual Investors receiving FREE personalized market updates and research. Join other Institutional Investors receiving FREE personalized market updates and research. Join other Financial Advisors receiving FREE personalized market updates and research.

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission, we hope you enjoy your experience

HYMAX Lord Abbett High Yield Municipal Bond A

  • Fund
  • HYMAX
  • Price as of: Aug 16, 2019
  • $12.66 + $0.01 + 0.08%
  • Category
  • High Yield Municipal Bonds

HYMAX - Profile

Vitals

  • YTD Return 7.7%
  • 3 Yr Annualized Return 1.3%
  • 5 Yr Annualized Return 1.8%
  • Net Assets $2.99 B
  • Holdings in Top 10 10.4%

52 WEEK LOW AND HIGH

$12.66
$11.67
$12.66

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.82%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 30.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return 7.7%
  • 3 Yr Annualized Total Return 1.3%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.09%
DIVIDENDS
  • Dividend Yield 3.2%
  • 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 S. 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 7.7% 1.7% 7.2% 5.51%
1 Yr 5.2% -0.2% 6.2% 12.60%
3 Yr 1.3%* -2.1% 1.8% 7.20%
5 Yr 1.8%* -0.2% 2.2% 20.49%
10 Yr 2.0%* 0.9% 6.5% 66.67%

* Annualized


Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -5.6% 4.2% 10.40%
2017 3.1% 0.0% 8.6% 68.80%
2016 -1.7% -6.7% -1.2% 10.66%
2015 -1.0% -2.0% 2.9% 87.70%
2014 9.2% 3.6% 83.0% 54.24%

Total Return Ranking - Trailing

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% 1.7% 7.2% 5.51%
1 Yr 5.2% -0.2% 6.7% 18.11%
3 Yr 1.3%* -2.1% 3.1% 12.80%
5 Yr 1.8%* -0.2% 5.3% 26.23%
10 Yr 2.0%* 0.9% 7.2% 67.86%

* Annualized


Total Return Ranking - Calendar

Period HYMAX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -3.7% 4.2% 15.20%
2017 3.1% 0.0% 9.8% 68.80%
2016 -1.7% -4.6% 0.8% 16.39%
2015 -1.0% -2.0% 5.3% 87.70%
2014 9.2% 3.6% 83.0% 54.24%

NAV & Total Return History

HYMAX - Holdings

Concentration Analysis

HYMAX Category Low Category High HYMAX % Rank
Net Assets 2.99 B 45.3 M 20.1 B 29.13%
Number of Holdings 583 41 3535 37.80%
Net Assets in Top 10 279 M 17.2 M 2.15 B 25.98%
Weighting of Top 10 10.37% 4.3% 38.4% 71.65%

Top 10 Holdings

  1. NEW YORK LIBERTY DEV CORP LIBERTY REV 5% 1.45%

  2. TUSCALOOSA CNTY ALA INDL DEV GULF OPPORTUNITY ZONE 5.25% 1.10%

  3. MAIN STR NAT GAS INC GA GAS SUPPLY REV 5% 1.09%

  4. ARKANSAS ST DEV FIN AUTH INDL DEV REV 4.5% 1.03%

  5. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 1.01%

  6. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.13% 1.01%

  7. IOWA FIN AUTH MIDWESTERN DISASTER AREA REV 5.25% 1.01%

  8. PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7% 0.91%

  9. JEFFERSON CNTY ALA SWR REV 6.5% 0.89%

  10. CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25% 0.87%


Asset Allocation

Weighting Return Low Return High HYMAX % Rank
Bonds
99.90% 83.56% 103.81% 26.77%
Cash
0.10% -3.81% 16.44% 71.65%
Stocks
0.00% 0.00% 0.49% 28.35%
Preferred Stocks
0.00% 0.00% 0.42% 23.62%
Other
0.00% 0.00% 0.83% 29.13%
Convertible Bonds
0.00% 0.00% 0.01% 23.62%

Bond Sector Breakdown

Weighting Return Low Return High HYMAX % Rank
Municipal
99.90% 91.08% 102.60% 13.39%
Cash & Equivalents
0.10% -3.28% 16.44% 74.80%
Derivative
0.00% -0.12% 0.05% 28.35%
Securitized
0.00% 0.00% 0.02% 23.62%
Corporate
0.00% 0.00% 2.78% 49.61%
Government
0.00% -7.61% 4.74% 30.71%

Bond Geographic Breakdown

Weighting Return Low Return High HYMAX % Rank
US
94.56% 76.76% 100.08% 63.78%
Non US
5.34% 0.00% 13.09% 28.35%

HYMAX - Expenses

Operational Fees

HYMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% 0.27% 1.97% 62.99%
Management Fee 0.47% 0.26% 0.75% 22.83%
12b-1 Fee 0.20% 0.00% 1.00% 21.88%
Administrative Fee 0.04% 0.01% 0.35% 23.81%

Sales Fees

HYMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 1.00% 4.75% 82.05%
Deferred Load N/A 0.60% 5.50% N/A

Trading Fees

HYMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% N/A

Turnover 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 30.00% 8.00% 119.00% 44.09%

HYMAX - Distributions

Dividend Yield Analysis

HYMAX Category Low Category High HYMAX % Rank
Dividend Yield 3.23% 0.01% 5.19% 13.39%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

HYMAX Category Low Category High HYMAX % Rank
Net Income Ratio 4.09% 1.46% 5.40% 29.13%

Capital Gain Distribution Analysis

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

HYMAX - Managers

Daniel S. Solender

Manager

Start Date

Tenure

Tenure Rank

Sep 14, 2006

12.88

12.9%

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 M. Shuman

Manager

Start Date

Tenure

Tenure Rank

Feb 01, 2019

0.49

0.5%


Tenure Analysis

Category Low

0.02

Category High

30.52

Category Average

8.56

Category Mode

6.41