About HYMFX
Lord Abbett High Income Municipal Bond Fund Class F is a mutual fund designed to provide investors with a high level of income that is exempt from federal income tax. Its primary strategy is to invest at least 80% of its net assets in municipal bonds, with a particular focus on lower-rated issuers—typically those rated BBB/Baa or below at the time of purchase. As a result, the fund operates within the high-yield segment of the municipal bond market, commonly known as "junk" bonds, which inherently involves higher credit risk but the potential for elevated yields compared to investment-grade municipal bonds.
This fund encompasses a broad and diverse portfolio, with over 600 individual holdings spanning various states, municipalities, and sectors, which helps spread risk while capturing income opportunities. It features both a relatively low minimum initial investment requirement and a competitive expense ratio, making it accessible for a range of investors. Notably, the fund pays dividends on a monthly basis, offering regular tax-exempt income, and is actively managed by a team of seasoned professionals who monitor credit quality and market conditions closely. The fund plays a significant role in the tax-exempt fixed income space, appealing to investors seeking municipal bond exposure with higher income potential relative to traditional municipal bond funds.
Fund Family Lord Abbett
Category High Yield Muni
Performance Rating Above Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol HYMFX
Share Class Class F
Index Bloomberg Municipal Bond High Yield TR
HYMFX had a total return of 7.62% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.90%.
