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Trending ETFs

DWS Strategic High Yield Tax-Free Fund

mutual fund
NOTIX
Payout Change
Pending
Price as of:
$10.98 -0.01 -0.09%
primary theme
High Yield Municipal Bond
share class
S (SHYTX) A (NOTAX) Instl (NOTIX) C (NOTCX)
NOTIX (Mutual Fund)

DWS Strategic High Yield Tax-Free Fund

Payout Change
Pending
Price as of:
$10.98 -0.01 -0.09%
primary theme
High Yield Municipal Bond
share class
S (SHYTX) A (NOTAX) Instl (NOTIX) C (NOTCX)
NOTIX (Mutual Fund)

DWS Strategic High Yield Tax-Free Fund

Payout Change
Pending
Price as of:
$10.98 -0.01 -0.09%
primary theme
High Yield Municipal Bond
share class
S (SHYTX) A (NOTAX) Instl (NOTIX) C (NOTCX)

Name

As of 12/09/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

DWS Strategic High Yield Tax-Free Fund

NOTIX | Fund

$10.98

$496 M

4.25%

$0.47

0.71%

Vitals

YTD Return

8.5%

1 yr return

10.6%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

1.8%

Net Assets

$496 M

Holdings in Top 10

12.0%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.71%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 59.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/09/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

DWS Strategic High Yield Tax-Free Fund

NOTIX | Fund

$10.98

$496 M

4.25%

$0.47

0.71%

NOTIX - Profile

Distributions

  • YTD Total Return 8.5%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.76%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DWS Strategic High Yield Tax-Free Fund
  • Fund Family Name
    DWS Funds
  • Inception Date
    Aug 19, 2002
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Generazo

Fund Description

Main investments. Under normal circumstances, the fund invests at least 80% of net assets in securities issued by municipalities across the United States and in other securities whose income is free from regular federal income tax. The fund may invest up to 20% of net assets in securities whose income is subject to the federal alternative minimum tax (AMT).The fund can buy many types of municipal securities of all maturities. These may include revenue bonds (which are backed by revenues from a particular source) and general obligation bonds (which are typically backed by the issuer's ability to levy taxes). They may also include municipal lease obligations and investments representing an interest therein.The fund may invest without limit in high yield debt securities. High yield debt securities (commonly referred to as junk bonds) are those rated below the fourth highest credit rating category (i.e. grade BB/Ba and below) and may include debt securities not currently paying interest and debt securities in default. Compared to investment-grade debt securities, junk bonds generally pay higher yields, have higher volatility and higher risk of default on payments of interest or principal. The fund generally intends to invest approximately 40% - 60% in high yield debt securities, although the fund may invest without limit in such securities.The fund may use forward delivery bonds, which are bonds priced on a determined date but that are not issued and settled until a later period (ranging from several weeks to more than a year). The fund may also engage in tender option bond transactions. In a tender option bond transaction, the fund transfers fixed-rate long-term municipal bonds into a special purpose entity (a “TOB Trust”), which then typically issues two classes of beneficial interests: short-term floating rate interests (“TOB Floaters”), which are sold to third party investors, and residual inverse floating rate interests (“TOB Inverse Floater Residual Interests”), which are generally held by the fund. Forward delivery bonds with settlement dates greater than 35 days and tender option bond transactions are treated as derivatives by the fund and are subject to the fund's policies and procedures with respect to derivatives. Forward delivery bonds with settlement dates greater than 35 days generally are used for non-hedging purposes to seek to enhance potential gains. The fund may leverage its assets and seek to enhance potential gains through the use of proceeds received from TOB Floaters.Management process. Portfolio management looks for securities that appear to offer the best opportunity to meet the fund's objective. In making its buy and sell decisions, portfolio management typically weighs a number of factors against each other, from economic outlooks and possible interest rate movements to changes in supply and demand within the municipal bond market. When evaluating any individual security and its issuer, portfolio management may consider a number of factors including the security’s credit quality and terms, such as coupon, maturity date and call date, as well as the issuer’s capital structure, leverage, and ability to meet its current obligations. Portfolio management generally also considers financially material environmental, social, and governance (ESG) factors, when available. Such factors may include, but are not limited to, exposure to climate change risks, income levels and unemployment data, and an issuer’s governance structure and practices.Although portfolio management may adjust the fund’s duration (a measure of sensitivity to interest rates) over a wider range, they generally intend to keep the fund’s duration similar to that of the Bloomberg Municipal Bond Index, which is generally between five and nine years.Derivatives. The fund may invest in derivatives, which are financial instruments whose performance is derived, at least in part, from the performance of an underlying asset, security or index. In particular, portfolio management may use futures contracts for duration management (i.e., reducing or increasing the sensitivity of the fund's portfolio to interest rate changes).The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.
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NOTIX - Performance

Return Ranking - Trailing

Period NOTIX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -0.7% 14.9% 15.42%
1 Yr 10.6% -0.1% 17.7% 18.41%
3 Yr -0.4%* -8.1% 3.4% 50.00%
5 Yr 1.8%* -4.7% 4.0% 33.33%
10 Yr 2.7%* -0.5% 155.7% 63.78%

* Annualized

Return Ranking - Calendar

Period NOTIX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -6.2% 7.5% 13.37%
2022 -19.4% -26.9% -3.5% 76.88%
2021 2.4% -1.9% 5.6% 36.55%
2020 0.4% -4.0% 4.2% 54.08%
2019 4.3% -0.7% 9.1% 73.68%

Total Return Ranking - Trailing

Period NOTIX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -0.7% 14.9% 15.42%
1 Yr 10.6% -0.1% 17.7% 18.41%
3 Yr -0.4%* -8.1% 3.4% 50.00%
5 Yr 1.8%* -4.7% 4.0% 33.33%
10 Yr 2.7%* -0.5% 155.7% 63.78%

* Annualized

Total Return Ranking - Calendar

Period NOTIX Return Category Return Low Category Return High Rank in Category (%)
2023 8.7% -4.1% 10.9% 15.35%
2022 -15.8% -26.9% 4.3% 75.38%
2021 5.7% -1.9% 10.0% 43.15%
2020 4.4% -2.6% 8.2% 28.06%
2019 8.3% -0.7% 1028633.9% 56.84%

NAV & Total Return History

NOTIX - Holdings

Concentration Analysis

NOTIX Category Low Category High NOTIX % Rank
Net Assets 496 M 3.1 M 15.6 B 63.50%
Number of Holdings 297 20 3325 69.35%
Net Assets in Top 10 59.9 M -102 M 1.96 B 74.37%
Weighting of Top 10 11.99% 4.6% 98.9% 60.30%

Top 10 Holdings

  1. M-S-R CA ENERGY AUTH GAS REVENUE 1.45%
  2. FLORIDA ST DEV FIN CORP SENIOR LIVING REVENUE 1.37%
  3. PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE 1.35%
  4. PUBLIC AUTH FOR COLORADO ST ENERGY NATURAL GAS PURCHASE REVE 1.35%
  5. MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE 1.16%
  6. OHIO ST HOSP REVENUE 1.13%
  7. PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE 1.07%
  8. PUBLIC FIN AUTH WI HOTEL REVENUE 1.06%
  9. FLORIDA ST DEV FIN CORP 1.04%
  10. Nuveen Quality Municipal Income Fund 0.99%

Asset Allocation

Weighting Return Low Return High NOTIX % Rank
Bonds 		98.83% 0.00% 146.69% 60.40%
Stocks 		0.99% 0.00% 99.72% 7.92%
Cash 		0.18% -0.64% 10.86% 66.33%
Preferred Stocks 		0.00% -47.61% 0.00% 68.84%
Other 		0.00% -5.67% 5.07% 72.86%
Convertible Bonds 		0.00% 0.00% 0.00% 68.34%

Stock Sector Breakdown

Weighting Return Low Return High NOTIX % Rank
Utilities 		0.00% 0.00% 0.00% 92.06%
Technology 		0.00% 0.00% 0.00% 92.06%
Real Estate 		0.00% 0.00% 0.00% 92.06%
Industrials 		0.00% 0.00% 4.78% 93.65%
Healthcare 		0.00% 0.00% 0.00% 92.06%
Financial Services 		0.00% 0.00% 0.00% 92.06%
Energy 		0.00% 0.00% 0.00% 92.06%
Communication Services 		0.00% 0.00% 0.00% 92.06%
Consumer Defense 		0.00% 0.00% 0.00% 92.06%
Consumer Cyclical 		0.00% 0.00% 77.65% 92.06%
Basic Materials 		0.00% 17.58% 100.00% 4.76%

Stock Geographic Breakdown

Weighting Return Low Return High NOTIX % Rank
US 		0.99% 0.00% 99.72% 8.04%
Non US 		0.00% 0.00% 0.00% 68.34%

Bond Sector Breakdown

Weighting Return Low Return High NOTIX % Rank
Municipal 		98.55% 50.68% 100.00% 46.23%
Corporate 		0.80% 0.00% 2.83% 19.60%
Cash & Equivalents 		0.00% 0.00% 10.86% 40.20%
Derivative 		0.00% -7.70% 2.16% 69.85%
Securitized 		0.00% 0.00% 22.44% 70.85%
Government 		0.00% 0.00% 0.09% 71.36%

Bond Geographic Breakdown

Weighting Return Low Return High NOTIX % Rank
US 		98.83% 0.00% 139.84% 55.78%
Non US 		0.00% 0.00% 13.35% 72.36%

NOTIX - Expenses

Operational Fees

NOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.71% 0.22% 3.44% 72.28%
Management Fee 0.44% 0.00% 1.41% 22.77%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.02% 0.35% 60.00%

Sales Fees

NOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

NOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

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.

NOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 59.00% 2.00% 121.00% 88.77%

NOTIX - Distributions

Dividend Yield Analysis

NOTIX Category Low Category High NOTIX % Rank
Dividend Yield 4.25% 0.00% 5.94% 33.66%

Dividend Distribution Analysis

NOTIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NOTIX Category Low Category High NOTIX % Rank
Net Income Ratio 3.76% 1.11% 5.44% 18.81%

Capital Gain Distribution Analysis

NOTIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

NOTIX - Fund Manager Analysis

Managers

Michael Generazo

Start Date

Tenure

Tenure Rank

Jun 25, 2018

3.93

3.9%

Portfolio Manager for Municipal Bond Funds: Boston, MA Joined the Company in 1999 with 6 years of industry experience. Prior to his current role, Michael was a Municipal Bond Trader for Private Investment Clients. Previously, he served as a Trader and Portfolio Manager at Breckenridge Capital Advisors and as a Senior Financial Reporting Analyst at Massachusetts Financial Services. Michael began his career as a Financial Reporting Analyst at The Boston Company BS from Bryant College; MBA from Suffolk University

Chad Farrington

Start Date

Tenure

Tenure Rank

Dec 10, 2018

3.47

3.5%

Portfolio Manager for Municipal Bonds - Joined DWS in 2018 with 20 years of industry experience; previously, worked as Portfolio Manager, Head of Municipal Research, and Senior Credit Analyst at Columbia Threadneedle - BS, Montana State University

Matthew Caggiano

Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Portfolio Manager for Municipal Bonds: Boston, MA Joined the Company in 1989. Prior to his current role, Matthew served as a Portfolio Manager and Trader for Insurance portfolios. Previously, Matthew served as an Assistant Trader for Tax Exempt Municipal Bond funds and as a Research Assistant for the Municipal Bond Group BS from Pennsylvania State University; MS from Boston College; CFA Charterholder

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.58 2.52

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