About NYAFX
American Funds Tax-Exempt Fund of New York F-2 is a municipal bond mutual fund designed to provide a high level of current income exempt from regular federal, New York state, and New York City income taxes. Its primary function is to invest predominantly in debt securities issued by state and local governments and agencies within New York, with over 96% of assets allocated to U.S. bonds. The portfolio emphasizes revenue bonds and general obligation bonds, focusing especially on essential public sectors such as transportation, utilities, and infrastructure development.
The fund typically attracts investors seeking tax-exempt income, particularly New York residents and entities with local tax liabilities. With an effective duration of approximately 7.5 years and regular monthly dividend distributions, it is structured to deliver relatively stable, tax-advantaged income. The fund maintains a moderate management fee and exhibits low portfolio turnover, reflecting a strategy oriented toward long-term municipal bond holdings. Its market significance lies in supporting public projects across New York while offering investors targeted municipal fixed-income exposure within a rigorously managed framework.
Fund Family Capital Group
Category Muni New York Long
Performance Rating Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol NYAFX
Share Class Class F-2
Index Bloomberg New York TaxExempt Muni Bond TR
NYAFX had a total return of 5.87% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.88%.
