14 important things you should know about American Funds NYAAX mutual fund

Updated: June 29, 2020
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Before we start: if you’re looking for NYAAX “stock” price, you can quickly find it out by visiting Finny and typing "NYAAX quote". If you’re looking for a quick scoop on NYAAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "NYAAX". You’ll get all this info in one place.

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

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

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

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

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

Fact Sheet

1. Describe American Funds Tax-Exempt Fund of New York; Class A Shares (NYAAX).

The Fund seeks high level of current income exempt from regular federal, New York state and New York City income taxes and preservation of capital. The fund will invest at least 80% of its assets in, or income from, securities that are exempt from regular federal, New York state and New York City income taxes.

2. What are NYAAX top holdings?

NYAAX has 0 stock holdings and 301 bond holdings.

The top 9 holdings represent 10.96% of total assets. Here are the top holdings:

Name Symbol % Assets
SYRACUSE N Y INDL DEV AGY CIVIC FAC REV 0% N/A 2.68%
LONG IS PWR AUTH N Y ELEC SYS REV 5% N/A 1.31%
HUDSON YDS INFRASTRUCTURE CORP N Y SECOND INDENTURE REV 5% N/A 1.14%
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 4% N/A 1.13%
NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT N/A 1.12%
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% N/A 1.02%
NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% N/A 0.97%
NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5% N/A 0.81%
NEW YORK N Y 4% N/A 0.78%

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

NYAAX has generated the following returns:

  • 1-month return is -0.72%;
  • 3-month return is -4.70%;
  • 1-year return is -0.15%;
  • 3-year return is 2.32%;
  • 5-year return is 2.38%.

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

In the last 10 years, NYAAX had 9 up years and 1 down year.

5. What is NYAAX dividend yield?

NYAAX yield is 2.47%.

6. What is NYAAX minimum initial investment amount?

NYAAX minimum initial investment amount is $1.00K.

7. What is NYAAX expense ratio?

NYAAX expense ratio is 0.64%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

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

NYAAX 12b-1 distribution fee is 0.25. NYAAX front-end sales load is 3.75. NYAAX back-end sales load is 0.

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

  • 1-year ax cost ratio is 0%;
  • 3-year ax cost ratio is 0%.

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

  • 3-year beta is 1.10;
  • 5-year beta is 1.06.

11. What is NYAAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.36;
  • 5-year Sharpe ratio is 0.37.

Analysis

12. What is NYAAX Finny Score? NYAAX buy or sell?

NYAAX Finny Score is 0. Our quantitative analysis shows 0 reasons to buy NYAAX and 5 reasons to sell it, resulting in the Finny Score of 0.

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

We don't see any strong reasons to buy NYAAX.

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

The following are NYAAX weaknesses from our perspective:

  • NYAAX net assets are $215.30 million. This fund is not a popular choice with retail investors.
  • NYAAX 3-year return is 2.32%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays Municipal New York Exempt TR USD), 3.06%.
  • NYAAX 5-year return is 2.38%, which is lower than the 5-year return of the benchmark index (Bloomberg Barclays Municipal New York Exempt TR USD), 3.05%.
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 3.75%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
  • NYAAX expense ratio is 0.64%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
In the NYAAX review, we covered NYAAX 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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