American High-Income Municipal Bond A Fund (AMHIX) a Zacks Rank #1 (Strong Buy) was incepted in September 1994 and is managed by Capital Research and Management Company. The objective of AMHIX is to provide a high level of current income exempt from regular federal taxes (although it may invest up to 100% of assets in bonds subject to the alternative minimum tax). AMHIX invests at least 80% of assets in tax-exempt securities. AMHIX invests at least 50% of assets in debt securities rated Baa/BBB or below at the time of purchase, and 65% in securities rated A or below at the time of purchase (or unrated but determined to be of comparable quality by the fund's investment adviser). AMHIX invests not more than 5% of assets in bonds rated C or D.
The American High-Income Municipal Bond A fund, managed by American Funds, carries an expense ratio of 0.67%. Moreover, AMHIX requires a minimal initial investment of $250.
AMHIX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 5.32% and 5 year 7.74%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here.
AMHIX’s performance, as of the last filing, when compared to funds in its category was in the top 14% in 1 year, top 4% over the past 3 years, and in the 5% over the past 5 years.
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