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Mutual Fund Bond fund seekers should consider taking a look at Dreyfus High Yield Municipals Bond A (DHYAX - Free Report) . DHYAX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
BNY Mellon is based in New York, NY, and is the manager of DHYAX. Dreyfus High Yield Municipals Bond A made its debut in March of 2007, and since then, DHYAX has accumulated about $156.39 million in assets, per the most up-to-date date available. Jeffrey Burger is the fund's current manager and has held that role since November of 2011.
Performance
Of course, investors look for strong performance in funds. DHYAX has a 5-year annualized total return of 4.89% and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 5.88%, which places it in the middle third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 13.53%, the standard deviation of DHYAX over the past three years is 9.11%. The fund's standard deviation over the past 5 years is 8% compared to the category average of 11.25%. This makes the fund less volatile than its peers over the past half-decade.
DHYAX carries a beta of 0.91, meaning that the fund is less volatile than a broad market index of fixed income securities. With this in mind, it has a negative alpha of -0.21, which measures performance on a risk-adjusted basis.
However, it is worth noting that 30 % of the bonds in this fund are not ranked, so take the average quality level with a bit of caution.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, DHYAX is a load fund. It has an expense ratio of 0.85% compared to the category average of 0.80%. Looking at the fund from a cost perspective, DHYAX is actually more expensive than its peers.
Investors need to be aware that with this product, the minimum initial investment is $1,000; each subsequent investment needs to be at least $100.
Bottom Line
Overall, Dreyfus High Yield Municipals Bond A ( DHYAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, Dreyfus High Yield Municipals Bond A ( DHYAX ) looks like a good potential choice for investors right now.
This could just be the start of your research on DHYAXin the Mutual Fund Bond category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
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Is DHYAX a Strong Bond Fund Right Now?
Mutual Fund Bond fund seekers should consider taking a look at Dreyfus High Yield Municipals Bond A (DHYAX - Free Report) . DHYAX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
BNY Mellon is based in New York, NY, and is the manager of DHYAX. Dreyfus High Yield Municipals Bond A made its debut in March of 2007, and since then, DHYAX has accumulated about $156.39 million in assets, per the most up-to-date date available. Jeffrey Burger is the fund's current manager and has held that role since November of 2011.
Performance
Of course, investors look for strong performance in funds. DHYAX has a 5-year annualized total return of 4.89% and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 5.88%, which places it in the middle third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 13.53%, the standard deviation of DHYAX over the past three years is 9.11%. The fund's standard deviation over the past 5 years is 8% compared to the category average of 11.25%. This makes the fund less volatile than its peers over the past half-decade.
DHYAX carries a beta of 0.91, meaning that the fund is less volatile than a broad market index of fixed income securities. With this in mind, it has a negative alpha of -0.21, which measures performance on a risk-adjusted basis.
However, it is worth noting that 30 % of the bonds in this fund are not ranked, so take the average quality level with a bit of caution.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, DHYAX is a load fund. It has an expense ratio of 0.85% compared to the category average of 0.80%. Looking at the fund from a cost perspective, DHYAX is actually more expensive than its peers.
Investors need to be aware that with this product, the minimum initial investment is $1,000; each subsequent investment needs to be at least $100.
Bottom Line
Overall, Dreyfus High Yield Municipals Bond A ( DHYAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, Dreyfus High Yield Municipals Bond A ( DHYAX ) looks like a good potential choice for investors right now.
This could just be the start of your research on DHYAXin the Mutual Fund Bond category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.