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American Funds Tax Exempt Bond Fund (AFTEX)

Mutual Fund · Currency in USD · Last updated May 31, 2023

The fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. It will not invest in securities that subject the investors to federal alternative minimum tax. It invests at least 65% in debt securities rated A- or better or A3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality.

Fund Info

ISINUS8769021077
CUSIP876902107
IssuerAmerican Funds
Inception DateOct 2, 1979
CategoryMunicipal Bonds
Minimum Investment$250
Asset ClassBond

Expense Ratio

The American Funds Tax Exempt Bond Fund has a high expense ratio of 0.50%, indicating higher-than-average management fees.


0.50%
0.00%2.15%

Share Price Chart


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Performance

The chart shows the growth of an initial investment of $10,000 in American Funds Tax Exempt Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


-8.00%-6.00%-4.00%-2.00%0.00%2.00%4.00%2023FebruaryMarchAprilMay
0.99%
3.16%
AFTEX (American Funds Tax Exempt Bond Fund)
Benchmark (^GSPC)

S&P 500

Compare to other instruments

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Return

American Funds Tax Exempt Bond Fund had a return of 1.35% year-to-date (YTD) and -0.30% in the last 12 months. Over the past 10 years, American Funds Tax Exempt Bond Fund had an annualized return of 2.06%, while the S&P 500 had an annualized return of 9.95%, indicating that American Funds Tax Exempt Bond Fund did not perform as well as the benchmark.


PeriodReturnBenchmark
1 month-1.14%0.86%
Year-To-Date1.35%9.53%
6 months1.62%6.26%
1 year-0.30%1.14%
5 years (annualized)1.20%9.25%
10 years (annualized)2.06%9.95%

Monthly Returns Heatmap


JanFebMarAprMayJunJulAugSepOctNovDec
20232.96%-2.15%1.79%-0.03%
2022-1.06%4.72%-0.02%

Risk-Adjusted Performance

This table presents a comparison of risk-adjusted performance metrics for American Funds Tax Exempt Bond Fund (AFTEX) and S&P 500 (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


Sharpe ratioSortino ratioOmega ratioCalmar ratioUlcer Index
AFTEX
American Funds Tax Exempt Bond Fund
0.02
^GSPC
S&P 500
0.17

Sharpe Ratio Chart

The Sharpe ratio shows whether the portfolio's excess returns are due to smart investment decisions or a result of taking a higher risk. The higher a portfolio's Sharpe ratio, the better its risk-adjusted performance.

The current American Funds Tax Exempt Bond Fund Sharpe ratio is 0.02. A Sharpe ratio between 0 and 1.0 is considered sub-optimal.

The chart below displays rolling 12-month Sharpe Ratio.


-2.50-2.00-1.50-1.00-0.500.000.501.002023FebruaryMarchAprilMay
0.02
0.17
AFTEX (American Funds Tax Exempt Bond Fund)
Benchmark (^GSPC)

Dividend History

American Funds Tax Exempt Bond Fund granted a 3.36% dividend yield in the last twelve months. The annual payout for that period amounted to $0.41 per share.


PeriodTTM20222021202020192018201720162015201420132012
Dividend$0.41$0.28$0.26$0.33$0.35$0.37$0.40$0.40$0.42$0.44$0.44$0.46

Dividend yield

3.36%2.35%2.01%2.55%2.84%3.19%3.48%3.73%3.89%4.23%4.57%4.73%

Monthly Dividends

The table displays the monthly dividend distributions for American Funds Tax Exempt Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDec
2023$0.03$0.02$0.03$0.03
2022$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.03$0.02$0.03
2021$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02
2020$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.02$0.02$0.03$0.02$0.05
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03
2018$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03
2017$0.04$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03
2016$0.04$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03
2015$0.04$0.03$0.04$0.04$0.04$0.03$0.04$0.04$0.04$0.04$0.03$0.04
2014$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04
2013$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04
2012$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.


-20.00%-15.00%-10.00%2023FebruaryMarchAprilMay
-8.68%
-12.32%
AFTEX (American Funds Tax Exempt Bond Fund)
Benchmark (^GSPC)

Worst Drawdowns

The table below shows the maximum drawdowns of the American Funds Tax Exempt Bond Fund. A maximum drawdown is an indicator of risk. It shows a reduction in portfolio value from its maximum due to a series of losing trades.

The maximum drawdown since January 2010 for the American Funds Tax Exempt Bond Fund is 14.37%, recorded on Oct 19, 1987. It took 95 trading sessions for the portfolio to recover.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-14.37%Mar 6, 1987162Oct 19, 198795Feb 29, 1988257
-14.36%Aug 4, 2021310Oct 25, 2022
-11.93%Jan 24, 2008226Dec 15, 2008165Aug 12, 2009391
-10.85%Mar 10, 20209Mar 20, 202097Aug 7, 2020106
-9.68%Feb 1, 1994210Nov 21, 199483Mar 16, 1995293

Volatility Chart

The current American Funds Tax Exempt Bond Fund volatility is 1.10%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%2.00%4.00%6.00%8.00%2023FebruaryMarchAprilMay
1.10%
3.82%
AFTEX (American Funds Tax Exempt Bond Fund)
Benchmark (^GSPC)