First Eagle High Yield Municipal Fund Class A (FEHAX)

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First Eagle High Yield Municipal Fund Class A (FEHAX) is up 2.3% since the beginning of the year. FEHAX is currently trading at $8 per share. Investors who bought $1,000 worth of FEHAX shares 5 years ago would now be looking at an investment worth $1,147.

First Eagle High Yield Municipal Fund Class A (FEHAX) has returned 2.28% so far this year and 3.66% over the past 12 months. Over the last ten years, FEHAX has returned 4.15% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Jan 3, 2012, FEHAX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.

Historically, 68% of months were positive and 32% were negative. The best month was Mar 2016 with a return of +6.1%, while the worst month was Mar 2020 at -10.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FEHAX closed higher 37% of trading days. The best single day was Apr 10, 2025 with a return of +3.0%, while the worst single day was Mar 9, 2020 at -3.9%.

First Eagle High Yield Municipal Fund Class A has an annualized alpha of 2.56%, beta of 0.09, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since January 04, 2012.

• This fund participated in 35.70% of S&P 500 Index downside but only 26.66% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.09 may look defensive, but with R2 of 0.12 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.12 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

FEHAX has a high expense ratio of 1.13%, indicating above-average management fees.

FEHAX ranks 8 for risk / return — in the bottom 8% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for First Eagle High Yield Municipal Fund Class A (FEHAX) and compare them to S&P 500 Index.

First Eagle High Yield Municipal Fund Class A provided a 5.94% dividend yield over the last twelve months, with an annual payout of $0.48 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for First Eagle High Yield Municipal Fund Class A. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the First Eagle High Yield Municipal Fund Class A. 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 First Eagle High Yield Municipal Fund Class A was 18.54%, occurring on Feb 11, 2016. Recovery took 160 trading sessions.

The current First Eagle High Yield Municipal Fund Class A drawdown is 1.45%.

The chart below shows the rolling one-month volatility.