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15 important things you should know about AMG Funds GWMNX mutual fund

Updated: September 10, 2020
50
Bull Case
  • 3-year return above the benchmark
  • 5-year return above the benchmark
  • 10-year return above the benchmark
Bear Case
  • Low net assets
  • High expense ratio
  • Sales load and/or distribution fees

Before we start: if you’re looking for GWMNX “stock” price, you can quickly find it out by visiting Finny and typing "GWMNX quote". If you’re looking for a quick scoop on GWMNX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "GWMNX". You’ll get all this info in one place.

Are you looking to buy or sell GWMNX? Or perhaps you’re looking for GWMNX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this GWMNX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: GWMNX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: GWMNX buy or sell; the pros and cons of investing in GWMNX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to GWMNX.

And here is the list of questions we’ll answer:

  1. Describe AMG Funds: AMG GW&K Municipal Enhanced Yield Fund; Class N Shares (GWMNX).
  2. What are GWMNX holdings?
  3. What is GWMNX performance? What are GWMNX historical returns?
  4. How many up and down years did GWMNX have historically?
  5. What is GWMNX dividend yield?
  6. What is GWMNX minimum initial investment amount?
  7. What is GWMNX expense ratio?
  8. Does GWMNX have any sales loads or 12b-1 distribution expenses?
  9. What is GWMNX tax efficiency (tax-cost ratio)?
  10. What is GWMNX beta? How would you assess GWMNX risk?
  11. What is GWMNX Sharpe ratio?
  12. What is GWMNX Finny Score? GWMNX buy or sell?
  13. What are the pros of investing in GWMNX? What are GWMNX buy reasons?
  14. What are the cons of investing in GWMNX? What are GWMNX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe AMG Funds: AMG GW&K Municipal Enhanced Yield Fund; Class N Shares (GWMNX).

The Fund seeks to provide investors with a high level of current income that is exempt from federal income tax. Capital appreciation is a secondary objective. The Fund may not invest less than 80% of its assets in U.S. dollar-denominated fixed income securities that are exempt from federal income tax.

2. What are GWMNX top holdings?

GWMNX has 0 stock holdings and 59 bond holdings.

The top 9 holdings represent 27.13% of total assets. Here are the top holdings:

Name Symbol % Assets
TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV 5% N/A 3.84%
WEST VIRGINIA ST HOSP FIN AUTH HOSP REV 5% N/A 3.68%
NEW JERSEY ECONOMIC DEV AUTH REV 5% N/A 3.01%
CALIFORNIA MUN FIN AUTH REV 5% N/A 3.00%
CHICAGO ILL O HARE INTL ARPT REV 5% N/A 2.96%
MINNEAPOLIS MINN HEALTH CARE SYS REV 5% N/A 2.76%
NEW YORK TRANSN DEV CORP SPL FAC REV 5% N/A 2.71%
CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV 5% N/A 2.59%
COLORADO HEALTH FACS AUTH REV 5% N/A 2.58%

3. What is GWMNX performance? What are GWMNX historical returns?

GWMNX has generated the following returns:

  • 1-month return is -0.77%;
  • 3-month return is 4.49%;
  • 1-year return is 1.65%;
  • 3-year return is 4.75%;
  • 5-year return is 5.07%;
  • 10-year return is 5.26%.

4. How many up and down years did GWMNX have historically?

In the last 10 years, GWMNX had 8 up years and 2 down years.

5. What is GWMNX dividend yield?

GWMNX yield is 2.44%.

6. What is GWMNX minimum initial investment amount?

GWMNX minimum initial investment amount is $3.00K.

7. What is GWMNX expense ratio?

GWMNX expense ratio is 0.99%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does GWMNX have any sales loads or 12b-1 distribution expenses?

GWMNX 12b-1 distribution fee is 0.25. GWMNX front-end sales load is 0. GWMNX back-end sales load is 0.

9. What is GWMNX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0.18%;
  • 3-year ax cost ratio is 0.06%.

10. What is GWMNX beta? How would you assess GWMNX risk?

  • 3-year beta is 1.88;
  • 5-year beta is 1.75;
  • 10-year beta is 1.68.

11. What is GWMNX Sharpe ratio?

  • 3-year Sharpe ratio is 0.42;
  • 5-year Sharpe ratio is 0.54;
  • 10-year Sharpe ratio is 0.73.

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 50. Our quantitative analysis shows 3 reasons to buy and 3 reasons to sell it, resulting in the Finny Score of 50.

13. What are the pros of investing in GWMNX? What are GWMNX buy reasons?

The following are GWMNX strengths from our perspective:

  • GWMNX 3-year return is 4.75%, which is higher than the 3-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 4.07%.
  • GWMNX 5-year return is 5.07%, which is higher than the 5-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 3.97%.
  • GWMNX 10-year return is 5.26%, which is higher than the 10-year return of the benchmark index (Bloomberg Barclays Municipal TR USD), 4%.

14. What are the cons of investing in GWMNX? What are GWMNX negatives?

The following are GWMNX weaknesses from our perspective:

  • GWMNX net assets are $5.70 million. This fund is not a popular choice with retail investors.
  • GWMNX expense ratio is 0.99%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 sales fee. The maximum 12b1 fee is 0.25%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund.
In the GWMNX review, we covered GWMNX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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