American Funds Tax-Exempt Fund of New York - A | American Funds

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RETIREMENT PLAN INVESTOR

Use your plan ID (available on your account statement) to determine which employer-sponsored retirement plan website to use:

IF YOUR PLAN ID BEGINS WITH IRK, BRK, 1, 2 OR 754

Visit americanfunds.com/retire

IF YOUR PLAN ID BEGINS WITH 34 OR 135

Visit myretirement.americanfunds.com

TAX-EXEMPT BOND FUNDS

®

Purchase Restrictions: Tax-exempt funds should generally not serve as investments for tax-deferred retirement plans and accounts.

Summary

Internal Prompt
A state specific approach to tax-exempt income. Seeks to provide tax-exempt income from municipal bond investments that primarily provide funding for important public services and projects in the state of New York. With a quality-oriented approach, it holds a diversified portfolio with a modest amount of high-yield securities.
Price at NAV $9.90 as of 6/24/2022 (updated daily)
Fund Assets (millions) $261.4
Portfolio Managers
2
Expense Ratio
0.62%

Internal Prompt

Returns at NAV

Returns with Sales Charge

Read important investment disclosures
-10.94%
1-year return
0.62%
5-year return
1.79%
10-year return
2.70%
30-Day SEC Yield
Returns as of 5/31/22 (updated monthly). Yield as of 5/31/22 (updated monthly).

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds93.6%
Non-U.S. Bonds0.0%
Cash & Equivalents
6.4%
U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds93.6%
Non-U.S. Bonds0.0%
Cash & Equivalents
6.4%
As of 5/31/2022 (updated monthly)

Growth of 10K

Read important investment disclosures
For Class A Shares, this chart tracks a hypothetical investment with dividends reinvested through 12/31/2021.
NYAAX
Bloomberg New York Municipal Index

High & Low Prices

Fund Statistics

6.4 years
Effective Duration
3.4%
Average Yield
to Maturity
4.2%
Average Coupon
% of net assets as of 3/31/2022 (updated quarterly)

Morningstar Style BoxTM— Fixed-Income

Medium Quality
Moderate Interest-Rate Sensitivity
Morningstar data as } of 3/31/22 (updated quarterly)

Description

Fund Objective
The fund's primary investment objective is to provide you with a high level of current income exempt from regular federal, New York state and New York City income taxes. Its secondary objective is preservation of capital.
Distinguishing Characteristics
This strategy seeks to provide New York residents with tax-exempt income from municipal bond investments that primarily provide funding for public services and private projects in the state of New York. With a quality-oriented approach, it holds a diversified portfolio with a modest amount of high-yield securities.
Types of Investments
Normally, at least 80% of the fund's assets will be invested in, or derive income from, securities exempt from regular federal, New York state and New York City income taxes and the federal alternative minimum tax. Up to 20% of assets may be invested in securities subject to the alternative minimum tax.
Maturity
Typically, the fund will be invested substantially in securities with maturities longer than three years.
Portfolio Restrictions
No more than 10% of assets may be invested in securities rated BB+ or below and Ba1 or below, or unrated but determined to be of equivalent quality by the fund's investment adviser.

Fund Facts

Fund Inception 11/01/2010
Fund Assets (millions)
As of 5/31/2022
$261.4
Companies/Issuers
Holdings are as of 3/31/2022 (updated quarterly).
108+
Shareholder Accounts
Shareholder accounts are as of 5/31/2022
3,005
Regular Dividends Paid
Monthly
Minimum Initial Investment $1,000
Capital Gains Paid
Dec
Portfolio Turnover (2021) 24%
Fiscal Year-End Jul
Prospectus Date 05/01/2022
CUSIP 02630X 10 1
Fund Number 41

Returns

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Month-End Returns as of 5/31/22

Quarter-End Returns as of 3/31/22

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Volatility & Return

Read important investment disclosures

Fixed-Income

For Class A Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
NYAAX
Bloomberg New York Municipal Index
Other AF Funds
Standard Deviation as of 05/31/2022 (updated monthly) . Annualized return as of 05/31/2022 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 2.21% N/A
Fund at MOP 2.12% 2.70%
As of 5/31/2022 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Jerome Solomon 9 13 29
Karl J. Zeile 11 22 30
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(71)
3-yr. Morningstar RatingTM
(71 funds rated)
5-yr. Morningstar RatingTM
(63 funds rated)
10-yr. Morningstar RatingTM
(55 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category Muni New York Long
Ratings are based on risk-adjusted returns as of 5/31/2022 (updated monthly).

Risk Measures

Fund
Standard Deviation
4.39
Sharpe Ratio
0.37
For the 10 Years ending 5/31/22 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg New York Municipal Index
Bloomberg Municipal TR USD
R-squared 96 97
Beta 1.10 1.10
Capture Ratio (Downside/Upside) 116/108 117/105
American Funds Benchmark for the 10 Years ending 3/31/22 (updated quarterly).
Morningstar Benchmark for the 10 Years ending 5/31/22 (updated monthly).
AAA/Aaa
7.8%
AA/Aa
37.8%
A
23.3%
BBB/Baa
14.0%
BB/Ba
4.8%
B
2.3%
CCC & Below
0.5%
Unrated
2.6%
Cash & equivalents
6.8%
% of net assets as of 3/31/2022 (updated quarterly)

Average Life Breakdown

0-4.9 Years
36.9%
5-9.9 Years
52.2%
10-19.9 Years
2.1%
20-29.9 Years
1.9%
30+ Years
0.1%
% of net assets as of 3/31/2022 (updated quarterly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
General obligation bonds 5.2%

% of net assets as of 3/31/2022 (updated quarterly)

Top Fixed-Income Issuers

New York State Personal Income Tax Bonds
6.1%
New York City Transitional Finance Authority
5.6%
NEW YORK STATE SALES TAX BONDS
4.5%
Metropolitan Transportation Authority
4.4%
NEW YORK N Y
3.7%
New York City Municipal Water Finance Authorit ...
3.2%
NEW YORK ST TWY AUTH
3.0%
Long Island Power Authority
2.9%
PORT AUTHORITY OF NEW YORK AND NEW JERSEY
2.2%
Housing Development Corp/NY
1.6%

% of net assets as of 3/31/2022 (updated quarterly)

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

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Historical Distributions as of 06/24/22

2022
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/22 02/01/22 $0.0183731 $0.00 $0.00 $0.00 $10.87
Daily 02/28/22 03/01/22 $0.017087 $0.00 $0.00 $0.00 $10.79
Daily 03/31/22 04/01/22 $0.0183738 $0.00 $0.00 $0.00 $10.42
Daily 04/29/22 05/02/22 $0.0193205 $0.00 $0.00 $0.00 $10.09
Daily 05/31/22 06/01/22 $0.0197856 $0.00 $0.00 $0.00 $10.20
2022 Year-to-Date: Dividends Subtotal: $0.09294 Cap Gains Subtotal: $0.00
Total Distributions: $0.09294

Fees & Expenses

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Fees

Annual Management Fees 0.24%
Other Expenses 0.13%
Service 12b-1 0.25%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

Gross Net
NYAAX 0.62% 0.57%
Lipper New York Municipal Debt Funds Average
0.75%
Fund as of most recent prospectus. Lipper Category as of 3/31/22 (updated quarterly).

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