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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
3.3%
1 yr return
10.8%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
0.7%
Net Assets
$939 M
Holdings in Top 10
17.2%
Expense Ratio 0.63%
Front Load N/A
Deferred Load N/A
Turnover 7.88%
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal, New York state and New York city personal income taxes and the federal alternative minimum tax. Municipal bonds are debt securities or other obligations issued by states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies and authorities.
The fund invests at least 70% of its net assets in municipal bonds rated, at the time of purchase, investment grade (i.e., Baa/BBB or higher) or the unrated equivalent as determined by Insight North America LLC, the fund's sub-adviser. For additional yield, the fund may invest up to 30% of its net assets in municipal bonds rated, at the time of purchase, below investment grade ("high yield" or "junk" bonds) or the unrated equivalent as determined by the fund's sub-adviser. The dollar-weighted average maturity of the fund's portfolio normally exceeds ten years, but the fund may invest without regard to maturity. A bond's maturity is the length of time until the principal must be fully repaid with interest. Dollar-weighted average maturity is an average of the stated maturities of the bonds held by the fund, based on their dollar-weighted proportions in the fund.
The fund's sub-adviser focuses on identifying undervalued sectors and securities. To select municipal bonds for the fund, the sub-adviser uses fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities and actively trades among various sectors and securities based on their apparent relative values. The fund seeks to invest in several different sectors, and does not seek to overweight any particular sector but may do so depending on each sector's relative value at a given time.
A rigorous sell discipline is employed to continuously evaluate all fund holdings. Current holdings may become sell candidates if creditworthiness is deteriorating, if bonds with better risk and return characteristics become available, or if the holding no longer meets the sub-adviser's strategic or portfolio construction objectives.
Although the fund seeks to provide income exempt from federal, New York state and New York city income taxes and the federal alternative minimum tax, income from some of the fund's holdings may be subject to these taxes.
Period | DNYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.3% | -1.5% | 25.1% | 37.29% |
1 Yr | 10.8% | 2.6% | 38.2% | 53.42% |
3 Yr | -0.3%* | -9.7% | 3.5% | 57.73% |
5 Yr | 0.7%* | -6.6% | 1104.9% | 63.92% |
10 Yr | 2.1%* | -0.8% | 248.9% | 33.58% |
* Annualized
Period | DNYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.5% | -1.4% | 41.0% | 22.42% |
2022 | -12.8% | -39.7% | 0.3% | 66.67% |
2021 | -0.2% | -5.6% | 6.9% | 37.43% |
2020 | 0.5% | -2.6% | 310.0% | 90.97% |
2019 | 4.6% | 0.0% | 26.0% | 24.27% |
Period | DNYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.3% | -1.5% | 25.1% | 37.29% |
1 Yr | 10.8% | 2.6% | 38.2% | 53.42% |
3 Yr | -0.3%* | -9.7% | 3.5% | 57.73% |
5 Yr | 0.7%* | -6.6% | 1104.9% | 63.92% |
10 Yr | 2.1%* | -0.8% | 248.9% | 33.58% |
* Annualized
Period | DNYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.7% | -1.3% | 41.0% | 23.82% |
2022 | -10.2% | -39.7% | 1.1% | 60.86% |
2021 | 2.7% | -4.8% | 23761504.0% | 20.58% |
2020 | 2.9% | -1.5% | 17057.9% | 77.43% |
2019 | 8.0% | 0.2% | 3514.6% | 14.99% |
DNYIX | Category Low | Category High | DNYIX % Rank | |
---|---|---|---|---|
Net Assets | 939 M | 3.22 M | 71.9 B | 31.47% |
Number of Holdings | 221 | 4 | 13418 | 50.96% |
Net Assets in Top 10 | 159 M | -317 M | 3.45 B | 28.14% |
Weighting of Top 10 | 17.15% | 1.9% | 100.1% | 51.99% |
Weighting | Return Low | Return High | DNYIX % Rank | |
---|---|---|---|---|
Bonds | 98.09% | 0.00% | 150.86% | 69.16% |
Cash | 1.91% | -50.86% | 43.45% | 29.06% |
Stocks | 0.00% | 0.00% | 99.89% | 46.75% |
Preferred Stocks | 0.00% | 0.00% | 0.08% | 37.49% |
Other | 0.00% | -3.72% | 51.88% | 51.23% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 36.64% |
Weighting | Return Low | Return High | DNYIX % Rank | |
---|---|---|---|---|
Municipal | 100.00% | 44.39% | 100.00% | 4.26% |
Derivative | 0.00% | -3.72% | 51.88% | 48.64% |
Cash & Equivalents | 0.00% | 0.00% | 43.45% | 77.04% |
Securitized | 0.00% | 0.00% | 5.93% | 49.37% |
Corporate | 0.00% | 0.00% | 9.41% | 57.50% |
Government | 0.00% | 0.00% | 52.02% | 52.37% |
Weighting | Return Low | Return High | DNYIX % Rank | |
---|---|---|---|---|
US | 98.09% | 0.00% | 142.23% | 66.62% |
Non US | 0.00% | 0.00% | 23.89% | 39.81% |
DNYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.63% | 0.01% | 8.02% | 62.88% |
Management Fee | 0.45% | 0.00% | 1.20% | 57.03% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
DNYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
DNYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DNYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 7.88% | 0.00% | 283.00% | 12.36% |
DNYIX | Category Low | Category High | DNYIX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.68% | 0.00% | 14.51% | 50.60% |
DNYIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
DNYIX | Category Low | Category High | DNYIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.42% | -0.53% | 5.33% | 22.77% |
DNYIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.031 | OrdinaryDividend |
Aug 30, 2024 | $0.037 | OrdinaryDividend |
Jul 31, 2024 | $0.034 | OrdinaryDividend |
Apr 30, 2024 | $0.031 | OrdinaryDividend |
Mar 28, 2024 | $0.033 | OrdinaryDividend |
Feb 29, 2024 | $0.030 | OrdinaryDividend |
Jan 31, 2024 | $0.032 | OrdinaryDividend |
Dec 29, 2023 | $0.034 | OrdinaryDividend |
Nov 30, 2023 | $0.032 | OrdinaryDividend |
Oct 31, 2023 | $0.033 | OrdinaryDividend |
Sep 29, 2023 | $0.030 | OrdinaryDividend |
Aug 31, 2023 | $0.033 | OrdinaryDividend |
Jul 31, 2023 | $0.032 | OrdinaryDividend |
Jun 30, 2023 | $0.031 | OrdinaryDividend |
May 31, 2023 | $0.033 | OrdinaryDividend |
Apr 28, 2023 | $0.029 | OrdinaryDividend |
Mar 31, 2023 | $0.033 | OrdinaryDividend |
Feb 28, 2023 | $0.029 | OrdinaryDividend |
Jan 31, 2023 | $0.033 | OrdinaryDividend |
Dec 30, 2022 | $0.030 | OrdinaryDividend |
Nov 30, 2022 | $0.031 | OrdinaryDividend |
Oct 31, 2022 | $0.032 | OrdinaryDividend |
Sep 30, 2022 | $0.031 | OrdinaryDividend |
Aug 31, 2022 | $0.034 | OrdinaryDividend |
Jul 29, 2022 | $0.030 | OrdinaryDividend |
Jun 30, 2022 | $0.031 | OrdinaryDividend |
May 31, 2022 | $0.033 | OrdinaryDividend |
Apr 29, 2022 | $0.029 | OrdinaryDividend |
Mar 31, 2022 | $0.031 | OrdinaryDividend |
Mar 29, 2022 | $0.002 | CapitalGainLongTerm |
Feb 28, 2022 | $0.028 | OrdinaryDividend |
Jan 31, 2022 | $0.031 | OrdinaryDividend |
Dec 31, 2021 | $0.032 | OrdinaryDividend |
Dec 23, 2021 | $0.038 | CapitalGainLongTerm |
Nov 30, 2021 | $0.031 | OrdinaryDividend |
Oct 29, 2021 | $0.028 | OrdinaryDividend |
Sep 30, 2021 | $0.030 | OrdinaryDividend |
Aug 31, 2021 | $0.032 | OrdinaryDividend |
Jul 30, 2021 | $0.030 | OrdinaryDividend |
Jun 30, 2021 | $0.034 | OrdinaryDividend |
May 28, 2021 | $0.028 | OrdinaryDividend |
Apr 30, 2021 | $0.031 | OrdinaryDividend |
Mar 31, 2021 | $0.034 | OrdinaryDividend |
Mar 29, 2021 | $0.001 | CapitalGainShortTerm |
Feb 26, 2021 | $0.029 | OrdinaryDividend |
Jan 29, 2021 | $0.031 | OrdinaryDividend |
Dec 31, 2020 | $0.033 | OrdinaryDividend |
Dec 23, 2020 | $0.113 | CapitalGainLongTerm |
Nov 30, 2020 | $0.032 | OrdinaryDividend |
Oct 30, 2020 | $0.032 | OrdinaryDividend |
Sep 30, 2020 | $0.032 | OrdinaryDividend |
Aug 31, 2020 | $0.033 | OrdinaryDividend |
Jun 30, 2020 | $0.036 | OrdinaryDividend |
Dec 31, 2019 | $0.037 | OrdinaryDividend |
Dec 27, 2019 | $0.030 | CapitalGainLongTerm |
Nov 29, 2019 | $0.033 | OrdinaryDividend |
Oct 31, 2019 | $0.036 | OrdinaryDividend |
Sep 30, 2019 | $0.036 | OrdinaryDividend |
Aug 30, 2019 | $0.034 | OrdinaryDividend |
Jul 31, 2019 | $0.037 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Dec 10, 2009
12.48
12.5%
Thomas C. Casey Director, Senior Portfolio Manager Tom is a senior portfolio manager for US Municipal Bond strategies. He is responsible for managing US Municipal Bond portfolios for institutional, insurance and high net worth clients. Previously, Tom worked as a trader and a portfolio analyst on the US Municipal team. Prior to joining the firm in 1993, Tom worked as an analyst at State Street Bank & Trust Company. Tom has been in the investment industry since 1988. Tom earned an MBA and a BA from Boston College.
Start Date
Tenure
Tenure Rank
Oct 29, 2014
7.59
7.6%
Dan is the head of municipal bonds at Mellon Investments Corp, overseeing and guiding the investment management process for the firm’s tax-exempt strategies. Previously, he was the head of trading for tax-exempt bonds, responsible for managing the municipal bond trading desk. Before joining the firm, Dan directed the municipal bond group at Fleet where he was responsible for managing mutual fund, common trust fund and high net worth client assets. Previously, he was a portfolio manager at Evergreen Investments, where he managed national and state-specific mutual funds. His other responsibilities included hospital and high yield credit analysis. Dan began his career as a municipal analyst at Liberty Insurance Company. Dan has been in the investment industry since 1987. Dan holds a BA from Boston College and an MBA from Suffolk University. Dan has served as a member of the Municipal Securities Rulemaking Board's Investor Advisory Group (2004-2008). He holds the CFA® designation and is a member of the CFA Institute.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.33 | 1.58 |
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