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HYMFX Lord Abbett High Yield Municipal Bond F

  • Fund
  • HYMFX
  • Price as of: May 21, 2019
  • $12.29 - $0.02 - 0.16%
  • Category
  • High Yield Municipal Bonds

HYMFX - Profile

Vitals

  • YTD Return 4.4%
  • 3 Yr Annualized Return 0.9%
  • 5 Yr Annualized Return 1.2%
  • Net Assets $2.52 B
  • Holdings in Top 10 10.3%

52 WEEK LOW AND HIGH

$12.29
$11.68
$12.31

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.72%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 30.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 4.4%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.18%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Lord Abbett High Yield Municipal Bond Fund
  • Fund Family Name Lord Abbett
  • Inception Date Sep 28, 2007
  • Shares Outstanding N/A
  • Share Class Other
  • 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.

HYMFX - Performance

Return Ranking - Trailing

Period HYMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% 1.2% 5.8% 14.17%
1 Yr 3.8% -0.6% 6.4% 9.45%
3 Yr 0.9%* -1.9% 2.5% 9.02%
5 Yr 1.2%* -0.4% 13.3% 32.23%
10 Yr 1.7%* 0.8% 6.4% 57.50%

* Annualized


Return Ranking - Calendar

Period HYMFX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -5.6% 4.2% 9.60%
2017 3.1% 0.0% 8.6% 70.40%
2016 -1.7% -6.7% -1.2% 9.84%
2015 -1.0% -2.0% 2.9% 86.89%
2014 9.2% 3.6% 83.0% 55.93%

Total Return Ranking - Trailing

Period HYMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% 1.2% 5.9% 18.11%
1 Yr 3.8% -0.6% 7.4% 14.17%
3 Yr 0.9%* -1.9% 3.6% 14.75%
5 Yr 1.2%* -0.4% 13.3% 38.02%
10 Yr 1.7%* 0.8% 7.3% 62.50%

* Annualized


Total Return Ranking - Calendar

Period HYMFX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -3.7% 4.2% 14.40%
2017 3.1% 0.0% 9.8% 70.40%
2016 -1.7% -4.6% 0.8% 15.57%
2015 -1.0% -2.0% 5.3% 86.89%
2014 9.2% 3.6% 83.0% 55.93%

NAV & Total Return History

HYMFX - Holdings

Concentration Analysis

HYMFX Category Low Category High HYMFX % Rank
Net Assets 2.52 B 45.7 M 18.9 B 31.50%
Number of Holdings 557 42 3288 40.16%
Net Assets in Top 10 246 M 4.84 M 2.07 B 28.35%
Weighting of Top 10 10.28% 4.3% 39.1% 75.59%

Top 10 Holdings

  1. NEW YORK LIBERTY DEV CORP LIBERTY REV 5% 1.59%

  2. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.13% 1.15%

  3. IOWA FIN AUTH MIDWESTERN DISASTER AREA REV 5.25% 1.12%

  4. JEFFERSON CNTY ALA SWR REV 6.5% 0.99%

  5. CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25% 0.96%

  6. PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7% 0.96%

  7. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 0.95%

  8. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.88% 0.88%

  9. CHICAGO ILL 6% 0.85%

  10. TSASC INC N Y 5% 0.82%


Asset Allocation

Weighting Return Low Return High HYMFX % Rank
Bonds
99.87% 81.91% 103.81% 30.71%
Cash
0.12% -3.81% 18.09% 70.87%
Stocks
0.00% 0.00% 0.53% 25.20%
Preferred Stocks
0.00% 0.00% 0.39% 20.47%
Other
0.00% -1.58% 1.29% 27.56%
Convertible Bonds
0.00% 0.00% 0.00% 18.11%

Bond Sector Breakdown

Weighting Return Low Return High HYMFX % Rank
Municipal
99.88% 91.17% 103.16% 21.26%
Cash & Equivalents
0.12% -3.28% 18.09% 74.02%
Derivative
0.00% -0.12% 0.06% 22.83%
Securitized
0.00% 0.00% 0.02% 20.47%
Corporate
0.00% 0.00% 2.59% 44.09%
Government
0.00% -10.34% 4.74% 15.75%

Bond Geographic Breakdown

Weighting Return Low Return High HYMFX % Rank
US
94.60% 77.16% 103.15% 54.33%
Non US
5.27% 0.00% 12.42% 25.20%

HYMFX - Expenses

Operational Fees

HYMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.27% 1.85% 75.59%
Management Fee 0.47% 0.26% 0.75% 25.20%
12b-1 Fee 0.10% 0.00% 1.00% 18.75%
Administrative Fee 0.04% 0.01% 0.35% 29.55%

Sales Fees

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

Trading Fees

HYMFX 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.

HYMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 3.00% 119.00% 49.61%

HYMFX - Distributions

Dividend Yield Analysis

HYMFX Category Low Category High HYMFX % Rank
Dividend Yield 1.29% 0.01% 1.32% 11.81%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

HYMFX Category Low Category High HYMFX % Rank
Net Income Ratio 4.18% 1.39% 5.43% 26.77%

Capital Gain Distribution Analysis

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

HYMFX - Managers

Daniel S. Solender

Manager

Start Date

Tenure

Tenure Rank

Sep 14, 2006

12.63

12.6%

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

0.24

0.2%


Tenure Analysis

Category Low

0.17

Category High

30.35

Category Average

8.45

Category Mode

6.25