About DVHIX
The Macquarie National High Yield Municipal Bond Institutional Fund is a mutual fund focused on delivering a high level of income exempt from federal income tax by primarily investing in medium- and lower-grade U.S. municipal securities. Its principal objective is to seek capital preservation and appreciation by constructing a diversified portfolio of municipal bonds issued by states, cities, and local authorities across the United States. The fund targets high-yield, or "junk," municipal bonds, which offer greater yield potential than their investment-grade counterparts at the expense of increased credit and market risk.
This fund is designed to appeal to investors seeking regular, tax-advantaged income streams, distributing dividends on a monthly basis. It maintains a disciplined, research-driven process for security selection, emphasizing the yield component to minimize reliance on forecasting economic cycles or interest rate moves. Despite its high-yield orientation, municipal bond defaults have historically been lower than comparable corporate bonds, adding a layer of potential downside resilience. With a large and diverse portfolio, the fund plays a significant role in providing access to segments of the municipal market typically associated with higher returns for higher risk, helping fulfill income needs for institutional investors and others seeking tax-exempt sources of return.
Fund Family Nomura
Category High Yield Muni
Performance Rating Average
Risk Rating High
Stock Exchange NASDAQ
Ticker Symbol DVHIX
Share Class Institutional Class
Index Bloomberg Municipal Bond TR
DVHIX had a total return of 5.90% in the past year, including dividends. Since the fund's
inception, the average annual return has been 6.55%.
