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

Updated: November 21, 2020
20
Bull Case
  • 5-year return above the benchmark
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

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 288 bond holdings.

The top 10 holdings represent 10.92% of total assets. Here are the top holdings:

Name Symbol % Assets
SYRACUSE N Y INDL DEV AGY CIVIC FAC REV 0% N/A 1.47%
LONG IS PWR AUTH N Y ELEC SYS REV 5% N/A 1.34%
NEW YORK ST TWY AUTH GEN REV JR INDBT OBLIGS 4% N/A 1.24%
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 4% N/A 1.14%
HUDSON YDS INFRASTRUCTURE CORP N Y SECOND INDENTURE REV 5% N/A 1.13%
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% N/A 1.03%
NEW YORK ST PWR AUTH REV 4% N/A 1.01%
NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% N/A 0.98%
NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 4% N/A 0.81%
NEW YORK ST ENVIRONMENTAL FACS CORP REV 4% N/A 0.77%

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

NYAAX has generated the following returns:

  • 1-month return is 0.84%;
  • 3-month return is -0.85%;
  • 1-year return is 2.59%;
  • 3-year return is 2.96%;
  • 5-year return is 3.16%;
  • 10-year return is 3.78%.

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.

NYAAX up and down years

5. What is NYAAX dividend yield?

NYAAX yield is 2.38%.

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 0.63%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

NYAAX 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%.
NYAAX tax costs

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

  • 3-year beta is 1.15;
  • 5-year beta is 1.09.
NYAAX Beta

11. What is NYAAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.33;
  • 5-year Sharpe ratio is 0.46.
NYAAX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 20. Our quantitative analysis shows 1 reason to buy and 4 reasons to sell it, resulting in the Finny Score of 20.

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

The following are NYAAX strengths from our perspective:

  • <strong>NYAAX 5-year return</strong> is 3.16%, which is in line with the 5-year return of the benchmark index (Bloomberg Barclays Municipal New York Exempt TR USD), 3.46%.

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

The following are NYAAX weaknesses from our perspective:

  • <strong>NYAAX net assets</strong> are $219.50 million. This fund is not a popular choice with retail investors.
  • <strong>NYAAX 3-year return</strong> is 2.96%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays Municipal New York Exempt TR USD), 3.4%.
  • <strong>NYAAX expense ratio</strong> is 0.63%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • 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.
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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