City National Rochdale Municipal High Income Fund (CNRNX)
The investment seeks to provide a high level of current income that is not subject to federal income tax. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of tax-exempt municipal bonds. The interest on municipal bonds is excludable from gross income for federal income tax purposes, although a significant portion of such interest may be a tax preference item ("Tax Preference Item") for purposes of the federal alternative minimum tax.
Fund Info
| ISIN | US17800P4494 |
|---|---|
| CUSIP | 17800P449 |
| Issuer | City National Rochdale |
| Inception Date | Dec 29, 2013 |
| Category | High Yield Muni |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
The City National Rochdale Municipal High Income Fund has a high expense ratio of 1.07%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in City National Rochdale Municipal High Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
City National Rochdale Municipal High Income Fund had a return of 0.18% year-to-date (YTD) and 2.86% in the last 12 months. Over the past 10 years, City National Rochdale Municipal High Income Fund had an annualized return of 2.20%, while the S&P 500 had an annualized return of 10.52%, indicating that City National Rochdale Municipal High Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 0.18% | 6.92% |
| 1 month | -1.05% | -2.83% |
| 6 months | 9.34% | 23.86% |
| 1 year | 2.86% | 23.33% |
| 5 years (annualized) | 0.10% | 11.66% |
| 10 years (annualized) | 2.20% | 10.52% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.58% | 0.65% | 0.59% | |||||||||
| 2023 | -3.23% | -2.30% | 6.42% | 2.56% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
City National Rochdale Municipal High Income Fund(CNRNX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for City National Rochdale Municipal High Income Fund (CNRNX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
City National Rochdale Municipal High Income Fund granted a 4.10% dividend yield in the last twelve months. The annual payout for that period amounted to $0.37 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.35 | $0.30 | $0.32 | $0.35 | $0.39 | $0.38 | $0.37 | $0.40 | $0.42 | $0.39 |
Dividend yield | 4.10% | 3.84% | 3.32% | 2.85% | 3.19% | 3.54% | 3.64% | 3.46% | 3.85% | 3.88% | 3.61% |
Monthly Dividends
The table displays the monthly dividend distributions for City National Rochdale Municipal High Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.04 | |||||||||
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2019 | $0.04 | $0.04 | $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 | $0.04 |
| 2017 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2016 | $0.04 | $0.03 | $0.03 | $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 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 |
| 2014 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the City National Rochdale Municipal High Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the City National Rochdale Municipal High Income Fund was 19.86%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current City National Rochdale Municipal High Income Fund drawdown is 11.64%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.86% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -15.91% | Mar 2, 2020 | 15 | Mar 20, 2020 | 210 | Jan 20, 2021 | 225 |
| -8.64% | Sep 9, 2016 | 59 | Dec 1, 2016 | 190 | Sep 5, 2017 | 249 |
| -2.41% | Sep 4, 2018 | 53 | Nov 15, 2018 | 69 | Feb 28, 2019 | 122 |
| -2.01% | Feb 3, 2015 | 111 | Jul 13, 2015 | 69 | Oct 19, 2015 | 180 |
Volatility
Volatility Chart
The current City National Rochdale Municipal High Income Fund volatility is 1.03%, 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.