American Funds Tax-Exempt Fund of NY F1

Frequently Asked Questions About NYAEX

What does NYAEX invest in?

The fund's primary objective is achieved by concentrating its investments in municipal debt obligations issued by New York State, its various agencies, and local government entities within the state. A core principle guides its asset allocation: at least 80% of its total assets, or 80% of its gross income, must be derived from securities that provide exemption from federal, New York State, and New York City income taxes. These investments are also carefully chosen to ensure they do not subject investors to the federal Alternative Minimum Tax (AMT).

What is the expense ratio of NYAEX?

American Funds Tax-Exempt Fund of NY F1 (NYAEX) charges an expense ratio of 0.68%. This is the annual fee deducted from fund assets to cover management and operations.

What is NYAEX's dividend yield?

NYAEX's trailing-twelve-month yield is 3.33%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of NYAEX?

Effective duration measures NYAEX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. NYAEX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of NYAEX?

NYAEX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of NYAEX?

Yield to maturity (YTM) is the total return you'd earn from NYAEX if every bond in the portfolio is held to maturity at the current price. NYAEX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.