Lord Abbett New York Tax Free Fund (LANYX)
The investment seeks the maximum amount of interest income exempt from federal income tax as is consistent with reasonable risk. In pursuing its investment objective, the fund uses the volatility of the Bloomberg Barclays Municipal Bond Index as an approximation of reasonable risk. Under normal conditions, it invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that pay interest exempt from federal, New York State, and New York City personal income tax.
Fund Info
| ISIN | US5439022097 |
|---|---|
| CUSIP | 543902209 |
| Issuer | Lord Abbett |
| Inception Date | Apr 1, 1984 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
LANYX has a high expense ratio of 0.78%, 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 Lord Abbett New York Tax Free 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
Lord Abbett New York Tax Free Fund had a return of -0.94% year-to-date (YTD) and 3.25% in the last 12 months. Over the past 10 years, Lord Abbett New York Tax Free Fund had an annualized return of 2.27%, while the S&P 500 had an annualized return of 10.33%, indicating that Lord Abbett New York Tax Free Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -0.94% | 5.21% |
| 1 month | -1.31% | -4.30% |
| 6 months | 9.49% | 18.42% |
| 1 year | 3.25% | 21.82% |
| 5 years (annualized) | 0.80% | 11.27% |
| 10 years (annualized) | 2.27% | 10.33% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.23% | 0.17% | -0.19% | -1.24% | ||||||||
| 2023 | -1.77% | 7.45% | 2.96% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of LANYX is 25, suggesting that the investment has average results relative to the market in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Lord Abbett New York Tax Free Fund(LANYX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Lord Abbett New York Tax Free Fund (LANYX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Lord Abbett New York Tax Free Fund granted a 2.78% dividend yield in the last twelve months. The annual payout for that period amounted to $0.29 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.29 | $0.31 | $0.28 | $0.26 | $0.27 | $0.28 | $0.29 | $0.28 | $0.31 | $0.35 | $0.37 | $0.37 |
Dividend yield | 2.78% | 2.91% | 2.72% | 2.12% | 2.27% | 2.41% | 2.58% | 2.51% | 2.78% | 3.08% | 3.24% | 3.53% |
Monthly Dividends
The table displays the monthly dividend distributions for Lord Abbett New York Tax Free 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 | $0.03 | $0.00 | ||||||||
| 2023 | $0.02 | $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 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 |
| 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 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2019 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 |
| 2017 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
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 Lord Abbett New York Tax Free 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 Lord Abbett New York Tax Free Fund was 19.38%, occurring on Dec 15, 2008. Recovery took 177 trading sessions.
The current Lord Abbett New York Tax Free Fund drawdown is 7.73%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.38% | Jan 24, 2008 | 226 | Dec 15, 2008 | 177 | Aug 28, 2009 | 403 |
| -19.08% | Aug 4, 2021 | 313 | Oct 25, 2022 | — | — | — |
| -15.27% | Mar 6, 1987 | 162 | Oct 19, 1987 | 74 | Jan 29, 1988 | 236 |
| -14.92% | Feb 1, 1994 | 211 | Nov 22, 1994 | 138 | Jun 2, 1995 | 349 |
| -13.83% | Mar 2, 2020 | 15 | Mar 20, 2020 | 183 | Dec 9, 2020 | 198 |
Volatility
Volatility Chart
The current Lord Abbett New York Tax Free Fund volatility is 0.81%, 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.