About FEHAX
First Eagle High Yield Municipal Fund Class A is a mutual fund designed to generate high current income that is largely exempt from regular federal income taxes, with capital appreciation as a secondary objective. The fund primarily invests in municipal bonds with lower credit ratings, often categorized as high-yield or "junk" bonds, which typically offer higher yields in exchange for higher risk. Over 80% of its assets are positioned in municipal securities that pay interest exempt from federal personal income tax, with a significant allocation to bonds not rated by major agencies. Its portfolio is diversified across regions, with notable exposure to states such as Florida, Wisconsin, California, New York, and Texas. The fund’s sector allocation covers areas including public transportation, charter schools, hospitals, airports, community development, and housing, addressing crucial infrastructure and community projects. Monthly distributions are a key feature, and the fund’s structure targets investors seeking steady, tax-advantaged income while tolerating the greater volatility associated with the high-yield municipal bond market. With a relatively high expense ratio and effective leverage, it plays a unique role in providing access to higher-yielding municipal securities within the broader muni bond landscape.
Fund Family First Eagle
Category High Yield
Performance Rating Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol FEHAX
Share Class Class A
Index Bloomberg U.S. Corporate High Yield TR
FEHAX had a total return of -4.24% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.18%.
