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If you are an investor focused on the mutual fund bond fund category, check out American Century CA High Yield Municipal Investor (BCHYX – Free Report) could be a potential option. BCHYX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on a variety of predictive factors including size, cost, and past performance.
History of fund managers
American Century, based in Kansas City, Missouri, is the manager of BCHYX. Since American Century CA High Yield Municipal Investor’s debut in December 1986, BCHYX has acquired over $679.11 million in assets. The Fund is currently managed by Joseph Gotelli, who has been the Fund’s Director since January 2012.
performance
Investors naturally seek out funds that perform well. His five-year annualized total return for BCHYX is 2.15%, which ranks in the middle third of his category. If you’re interested in shorter time horizons, don’t ignore that his three-year annualized total return for this fund is -0.8%. This is in the middle third for this period.
It is important to note that product returns do not reflect all costs. Unreflected fees reduce your revenue.Total return does not reflect the return of the fund [%] Sales commission. Total revenue would have been even lower if sales commissions had been included.
When looking at a fund’s performance, it’s also important to look at the standard deviation of returns. The lower the standard deviation, the lower the fund’s volatility. His BCHYX standard deviation over the past three years is 9.08%, compared to the category average of 13.2%. Looking at the past five years, the fund’s standard deviation is 8.43% compared to the category average of 13.62%. This has resulted in lower volatility for the fund compared to the past five years.
This fund has a beta value of 1.01. This means it is more volatile than the broad market index of bonds. Considering this, BCHYX has a negative alpha of -0.11, which measures its risk-adjusted performance.
evaluation
Be a little wary of the average quality level, though, as 48% of the bonds in this fund are unranked.
expenses
As competition in the mutual fund market increases, costs become more important. All else being equal, a lower-cost product will perform better when compared to otherwise identical products. Therefore, a closer look at cost-related metrics is extremely important for investors. In terms of fees, BCHYX is a no-load fund. The expense ratio is 0.50%, compared to the category average of 0.90%. If you look at the fund from a cost perspective, BCHYX is actually cheaper than its peers.
The fund requires a minimum initial investment of $2,500 and each subsequent investment must be at least $50.
Fees charged by investment advisors are not taken into account. If they are included, there will be fewer returns.
conclusion
Overall, American Century CA High Yield Municipal Investor (BCHYX) has a high Zacks Mutual Fund Rank, coupled with relatively similar performance, better downside risk, and lower fees. ) looks like this: This could be a great option for investors at the moment.
Don’t stop your research on mutual fund bond funds here. We also have many other funds listed on our site to help you find the right one for your portfolio. For more information on the world of funds, be sure to check out www.zacks.com/funds/mutual-funds. For additional information, compare BCHYX with its peers. Zacks offers a complete suite of tools to help you analyze your portfolio of both funds and stocks in the most efficient way possible.
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