IYIBX: Ivy Municipal High Income B

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IYIBX Ivy Municipal High Income B


Profile

IYIBX - Profile

Vitals

  • YTD Return -3.2%
  • 3 Yr Annualized Return -1.7%
  • 5 Yr Annualized Return -1.4%
  • Net Assets $1.01 B
  • Holdings in Top 10 13.6%

52 WEEK LOW AND HIGH

$4.89
$4.56
$5.16

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.58%

SALES FEES

  • Front Load N/A
  • Deferred Load 5.00%

BROKERAGE FEES

  • Turnover 10.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Jan 01, 2014
  • Standard (Taxable) $750
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -3.2%
  • 3 Yr Annualized Total Return -1.7%
  • 5 Yr Annualized Total Return -1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.64%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ivy Municipal High Income Fund
  • Fund Family Name
    Ivy Funds
  • Inception Date
    May 18, 2009
  • Shares Outstanding
    N/A
  • Share Class
    B
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Walls

Fund Description

The fund seeks to achieve its objective by investing at least 80% of its net assets in a diversified portfolio of municipal bonds. It typically invests at least 65% of its total assets in medium- and lower-quality bonds. The fund may invest in PABs in general, in revenue bonds payable from revenues derived from similar projects, such as those in the health care, life care, education, transportation and special tax sectors, and in municipal bonds of issuers located in the same geographical area.


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Categories

Performance

IYIBX - Performance

Return Ranking - Trailing

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.2% -13.7% 0.5% 8.29%
1 Yr -3.2% -13.7% 5.3% 11.58%
3 Yr -1.7%* -2.7% 1.8% 83.23%
5 Yr -1.4%* -2.2% 1.9% 92.86%
10 Yr -0.1%* -1.4% 1.8% 79.38%

* Annualized

Return Ranking - Calendar

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
2019 1.8% -0.7% 9.1% 98.40%
2018 -2.7% -4.8% 9.2% 64.37%
2017 0.0% -9.7% 8.6% 96.13%
2016 -3.4% -6.1% -0.8% 69.59%
2015 0.0% -5.6% 2.9% 61.83%

Total Return Ranking - Trailing

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.2% -13.7% 0.5% 8.29%
1 Yr -3.2% -13.7% 5.3% 11.58%
3 Yr -1.7%* -2.7% 1.8% 82.04%
5 Yr -1.4%* -2.2% 2.5% 92.14%
10 Yr 0.0%* -1.4% 4.3% 77.32%

* Annualized

Total Return Ranking - Calendar

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
2019 1.8% -0.7% 9.1% 98.40%
2018 -2.7% -4.8% 9.2% 67.24%
2017 0.1% -9.7% 8.8% 95.48%
2016 -3.4% -6.1% 1.0% 70.95%
2015 0.0% -5.6% 5.3% 61.83%

NAV & Total Return History


Holdings

IYIBX - Holdings

Concentration Analysis

IYIBX Category Low Category High IYIBX % Rank
Net Assets 1.01 B 366 K 17.9 B 43.37%
Number of Holdings 302 6 3645 70.98%
Net Assets in Top 10 142 M -38.7 M 2.51 B 43.01%
Weighting of Top 10 13.62% 4.2% 98.8% 47.15%

Top 10 Holdings

  1. MARTIN CNTY FLA HEALTH FACS AUTH HOSP REV 4% 2.22%
  2. PENNSYLVANIA ST TPK COMMN TPK REV 6.29% 2.01%
  3. TEXAS TRANSN COMMN CENT TEX TPK SYS REV 5% 1.72%
  4. DELAWARE CNTY PA INDL DEV AUTH CHARTER SCH REV 6.13% 1.26%
  5. JEFFERSON CNTY ALA SWR REV 6.5% 1.17%
  6. MICHIGAN FIN AUTH REV 3% 1.15%
  7. VIRGINIA SMALL BUSINESS FING AUTH REV 5.5% 1.07%
  8. UNIVERSITY VA UNIV REVS 3.57% 1.01%
  9. LEE CNTY FLA INDL DEV AUTH HEALTH CARE FACS REV 6.5% 1.00%
  10. SAN BUENAVENTURA CALIF REV 8% 0.99%

Asset Allocation

Weighting Return Low Return High IYIBX % Rank
Bonds
97.70% 79.21% 148.07% 56.70%
Cash
2.30% -1.98% 17.48% 39.90%
Stocks
0.00% 0.00% 3.82% 75.77%
Preferred Stocks
0.00% -48.07% 0.00% 72.02%
Other
0.00% -0.09% 1.67% 73.06%
Convertible Bonds
0.00% 0.00% 0.00% 72.54%

Bond Sector Breakdown

Weighting Return Low Return High IYIBX % Rank
Municipal
97.70% 82.40% 100.00% 52.85%
Cash & Equivalents
2.30% 0.00% 17.60% 43.52%
Derivative
0.00% 0.00% 0.26% 74.09%
Securitized
0.00% 0.00% 0.00% 72.54%
Corporate
0.00% 0.00% 5.11% 82.38%
Government
0.00% -2.36% 0.96% 73.06%

Bond Geographic Breakdown

Weighting Return Low Return High IYIBX % Rank
US
97.22% 74.35% 141.91% 20.73%
Non US
0.48% 0.00% 14.58% 89.64%

Expenses

IYIBX - Expenses

Operational Fees

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.58% 0.21% 2.78% 23.44%
Management Fee 0.51% 0.00% 1.25% 64.47%
12b-1 Fee 1.00% 0.00% 1.00% 90.35%
Administrative Fee N/A 0.01% 0.35% 7.89%

Sales Fees

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load 5.00% 1.00% 5.50% 11.90%

Trading Fees

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.00% 5.10% 125.00% 11.92%

Distributions

IYIBX - Distributions

Dividend Yield Analysis

IYIBX Category Low Category High IYIBX % Rank
Dividend Yield 0.00% 0.00% 0.80% 83.76%

Dividend Distribution Analysis

IYIBX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

IYIBX Category Low Category High IYIBX % Rank
Net Income Ratio 3.64% 1.99% 5.67% 61.46%

Capital Gain Distribution Analysis

IYIBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

IYIBX - Fund Manager Analysis

Managers

Michael Walls


Start Date

Tenure

Tenure Rank

May 31, 2009

10.92

10.9%

Mr. Walls is Senior Vice President of WRIMCO and IICO, Vice President of the Trust, and Vice President of and portfolio manager for another investment company for which IICO serves as investment manager. He has served as a portfolio manager with IICO since March 2007, and has been an employee of WRIMCO since March 1999, joining the company as an investment analyst. He earned a BA in economics and German from Denison University, and an MBA with an emphasis in finance from Xavier University. Mr. Walls holds a Certificate of General Insurance.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.35 6.95 0.44