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NOTAX DWS Strategic High Yield Tax-Free A

  • Fund
  • NOTAX
  • Price as of: Jun 05, 2019
  • $12.14 + $0.01 + 0.08%
  • Category
  • High Yield Bonds
  • Fund Company
  • DWS

NOTAX - Profile

Vitals

  • YTD Return 3.5%
  • 3 Yr Annualized Return -1.3%
  • 5 Yr Annualized Return -0.5%
  • Net Assets $1.08 B
  • Holdings in Top 10 13.3%

52 WEEK LOW AND HIGH

$12.14
$11.67
$12.14

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.95%

SALES FEES

  • Front Load 2.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 34.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 3.5%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.61%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name DWS Strategic High Yield Tax
  • Fund Family Name DWS
  • Inception Date May 01, 2000
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager A. Gene Caponi

NOTAX - Performance

Return Ranking - Trailing

Period NOTAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -7.9% 15.0% 87.75%
1 Yr 0.8% -15.4% 4.1% 14.40%
3 Yr -1.3%* -7.0% 5.6% 98.95%
5 Yr -0.5%* -8.3% 1.4% 9.15%
10 Yr 0.8%* -13.6% 4.7% 71.17%

* Annualized


Return Ranking - Calendar

Period NOTAX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.6% -23.1% -0.4% 10.57%
2017 2.4% -9.5% 28.5% 16.77%
2016 -3.1% -14.4% 28.6% 99.16%
2015 -1.2% -34.3% 1.0% 5.23%
2014 6.5% -23.1% 27.7% 3.09%

Total Return Ranking - Trailing

Period NOTAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -7.9% 15.0% 89.16%
1 Yr 1.1% -15.4% 5.6% 24.75%
3 Yr -1.1%* -7.0% 9.7% 98.74%
5 Yr -0.4%* -7.5% 5.7% 25.32%
10 Yr 0.8%* -13.6% 8.7% 84.70%

* Annualized


Total Return Ranking - Calendar

Period NOTAX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.4% -23.1% 1.3% 20.73%
2017 2.5% -4.9% 36.8% 34.16%
2016 -3.0% -14.4% 39.0% 98.95%
2015 -1.1% -28.3% 4.3% 9.83%
2014 6.5% -21.8% 27.7% 3.09%

NAV & Total Return History

NOTAX - Holdings

Concentration Analysis

NOTAX Category Low Category High NOTAX % Rank
Net Assets 1.08 B 664 K 24.4 B 37.15%
Number of Holdings 366 6 1626 33.94%
Net Assets in Top 10 143 M -197 K 3.73 B 33.94%
Weighting of Top 10 13.29% 5.4% 100.1% 31.93%

Top 10 Holdings

  1. TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV 6.25% 2.09%

  2. CALIFORNIA ST 5.75% 1.49%

  3. KENTUCKY ECONOMIC DEV FIN AUTH HOSP FACS REV 6.5% 1.47%

  4. DALLAS FORT WORTH TEX INTL ARPT REV 5.25% 1.47%

  5. M-S-R ENERGY AUTH CALIF GAS REV 7% 1.20%

  6. MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5.5% 1.17%

  7. MATAGORDA CNTY TEX NAV DIST NO 1 POLLUTN CTL REV 4.4% 1.12%

  8. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.88% 1.10%

  9. MICHIGAN FIN AUTH REV 5% 1.09%

  10. AKRON BATH COPLEY OHIO JT TWP HOSP DIST REV 5.25% 1.09%


Asset Allocation

Weighting Return Low Return High NOTAX % Rank
Bonds
99.39% -14.92% 100.00% 3.82%
Other
0.61% -5.90% 11.36% 11.65%
Stocks
0.00% -0.44% 99.99% 69.48%
Preferred Stocks
0.00% 0.00% 11.13% 52.41%
Convertible Bonds
0.00% 0.00% 11.40% 69.28%
Cash
0.00% -4.10% 114.92% 96.79%

Bond Sector Breakdown

Weighting Return Low Return High NOTAX % Rank
Municipal
99.39% 0.00% 99.98% 1.81%
Derivative
0.00% -14.92% 8.62% 26.91%
Cash & Equivalents
0.00% -0.39% 114.92% 96.79%
Securitized
0.00% 0.00% 61.00% 45.78%
Corporate
0.00% 0.00% 100.28% 96.79%
Government
0.00% -5.69% 66.73% 38.76%

Bond Geographic Breakdown

Weighting Return Low Return High NOTAX % Rank
US
98.56% -14.92% 99.77% 1.41%
Non US
0.83% 0.00% 59.88% 96.18%

NOTAX - Expenses

Operational Fees

NOTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.00% 6.42% 60.04%
Management Fee 0.44% 0.00% 1.00% 11.24%
12b-1 Fee 0.25% 0.00% 1.00% 25.84%
Administrative Fee 0.10% 0.01% 0.45% 43.26%

Sales Fees

NOTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.75% 2.00% 5.75% 85.71%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

NOTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

NOTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 34.00% 5.00% 1334.00% 21.49%

NOTAX - Distributions

Dividend Yield Analysis

NOTAX Category Low Category High NOTAX % Rank
Dividend Yield 0.03% 0.00% 3.43% 85.74%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

NOTAX Category Low Category High NOTAX % Rank
Net Income Ratio 3.61% -1.92% 7.22% 90.16%

Capital Gain Distribution Analysis

NOTAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

NOTAX - Managers

A. Gene Caponi

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2009

9.42

9.4%

A. Gene Caponi, CFA, is Managing Director and Co-Lead Portfolio Manager. He is also Senior Municipal Bond Analyst specializing in the high-yield, health care and industrial sectors. Caponi joined Deutsche Asset Management in 1998 in 1998 after 14 years of experience as an investment analyst and banker at T. Rowe Price Associates, Lehman Brothers, The Sanwa Bank and Ayco/American Express. He earned his BS from the State University of New York, Oswego and his MBA from the State University of New York, Albany.


Carol L. Flynn

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2014

4.67

4.7%

Co-Head Municipal Bond Department: Boston, MA Joined the Company in 1994 with 4 years of industry experience. Prior to her current role, Carol was Head of the Municipal Bond Research Team. Prior to joining, she was a Fixed Income Investment Manager at The Travelers BS from Duke University; MBA from University of Connecticut; CFA Charterholder


Ashton P. Goodfield

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2014

4.67

4.7%

Co-Head Municipal Bond Department and Portfolio Manager for Municipal Bond Mutual Funds: Boston, MA Joined the Company in 1986. Prior to her current role, Ashton was Head of Municipal Bond Trading. Over the course of her career, Ashton has managed municipal assets for individuals, mutual funds, insurance companies and other institutions BA from Duke University; CFA Charterholder


Michael J. Generazo

Manager

Start Date

Tenure

Tenure Rank

Jun 25, 2018

0.93

0.9%

Portfolio Manager for Municipal Bond Funds: Boston, MA Joined the Company in 1999 with 6 years of industry experience. Prior to his current role, Michael was a Municipal Bond Trader for Private Investment Clients. Previously, he served as a Trader and Portfolio Manager at Breckenridge Capital Advisors and as a Senior Financial Reporting Analyst at Massachusetts Financial Services. Michael began his career as a Financial Reporting Analyst at The Boston Company BS from Bryant College; MBA from Suffolk University


Chad H. Farrington

Manager

Start Date

Tenure

Tenure Rank

Dec 10, 2018

0.47

0.5%

Mr. Farrington joined the Columbia Management Investment Advisers, LLC in May 2010 when it acquired the long-term asset management business of Columbia Management Group, where he worked as an investment professional since 2003. Mr. Farrington began his investment career in 1998 and earned a B.S. from Montana State University. Mr. Farrington holds the charted financial analyst designation.


Tenure Analysis

Category Low

0.02

Category High

34.79

Category Average

6.91

Category Mode

0.41