American Funds Limited Term Tax-Exempt Bond Fund (LTEBX)
The investment seeks to provide current income exempt from regular federal income tax, consistent with the maturity and quality standards, and to preserve capital. 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 and that do not subject the investors to federal alternative minimum tax. It invests primarily in debt securities rated A- or better or A3 or better, or unrated but determined by the fund's investment adviser to be of equivalent quality. The dollar-weighted average effective maturity of the fund's portfolio is between three and 10 years.
Fund Info
| ISIN | US5327261062 |
|---|---|
| CUSIP | 532726106 |
| Issuer | American Funds |
| Inception Date | Oct 5, 1993 |
| Category | Municipal Bonds |
| Min. Investment | $250 |
| Asset Class | Bond |
Expense Ratio
LTEBX has a high expense ratio of 0.57%, indicating higher-than-average management fees.
Share Price Chart
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Compare to other instruments
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Popular comparisons: LTEBX vs. VTEAX, LTEBX vs. AFTEX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in American Funds Limited Term 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.
Returns By Period
American Funds Limited Term Tax-Exempt Bond Fund had a return of -0.11% year-to-date (YTD) and 2.14% in the last 12 months. Over the past 10 years, American Funds Limited Term Tax-Exempt Bond Fund had an annualized return of 1.37%, while the S&P 500 had an annualized return of 10.71%, indicating that American Funds Limited Term Tax-Exempt Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -0.11% | 8.76% |
| 1 month | 0.39% | -0.32% |
| 6 months | 3.75% | 18.48% |
| 1 year | 2.14% | 25.36% |
| 5 years (annualized) | 1.03% | 12.60% |
| 10 years (annualized) | 1.37% | 10.71% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.08% | 0.05% | -0.01% | -0.66% | ||||||||
| 2023 | -0.36% | 3.45% | 1.57% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of LTEBX is 29, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
LTEBX (American Funds Limited Term Tax-Exempt Bond Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
American Funds Limited Term Tax-Exempt Bond Fund granted a 2.10% dividend yield in the last twelve months. The annual payout for that period amounted to $0.32 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.29 | $0.18 | $0.21 | $0.31 | $0.33 | $0.31 | $0.32 | $0.33 | $0.37 | $0.39 | $0.40 |
Dividend yield | 2.10% | 1.91% | 1.18% | 1.29% | 1.92% | 2.05% | 2.03% | 2.04% | 2.09% | 2.35% | 2.44% | 2.48% |
Monthly Dividends
The table displays the monthly dividend distributions for American Funds Limited Term Tax-Exempt Bond 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 | $0.03 | ||||||||
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.11 |
| 2019 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 |
| 2018 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 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 | $0.04 | $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 American Funds Limited Term Tax-Exempt Bond 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 American Funds Limited Term Tax-Exempt Bond Fund was 8.00%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current American Funds Limited Term Tax-Exempt Bond Fund drawdown is 1.68%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -8% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -7.41% | Mar 10, 2020 | 9 | Mar 20, 2020 | 76 | Jul 9, 2020 | 85 |
| -6.75% | Sep 12, 2008 | 25 | Oct 16, 2008 | 61 | Jan 14, 2009 | 86 |
| -6.39% | Feb 1, 1994 | 211 | Nov 22, 1994 | 93 | Mar 31, 1995 | 304 |
| -4.76% | Mar 12, 2004 | 44 | May 13, 2004 | 117 | Oct 29, 2004 | 161 |
Volatility
Volatility Chart
The current American Funds Limited Term Tax-Exempt Bond Fund volatility is 0.58%, 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.