This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Best Municipal Bond Funds for 2012: New York

NEW YORK ( TheStreet Ratings) -- Municipal bonds are a popular investment among retirees and high net-worth individuals seeking tax-free investment income. Depending on one's tax bracket, municipal bonds may be arithmetically superior to U.S. Treasury bonds, corporate bonds or mortgage-back securities.

Assuming an investor is comfortable with the credit risk of a municipal bond or bond fund , the question of whether or not to buy municipal bonds can be solved with a simple formula.

Often, the fullest tax benefits of municipal bonds are achieved when an investor purchases bonds in the state in which he or she resides; potentially freeing the investor of federal and state tax burdens. Today, we will be focusing on New York municipal bond funds.

The following New York municipal bond funds are rated highest by TheStreet Ratings. TheStreet Ratings condenses the available fund performance and risk data into a single composite opinion of each fund's risk-adjusted performance. While there is no guarantee of future performance, these investment ratings provide a solid framework for making investment decisions as we enter 2012.

-----------------------------

Dreyfus New York AMT-Free Municipal Bond Fund

Dreyfus New York AMT-Free Municipal Bond Fund (DNYIX) is managed by Thomas Casey and David Belton. The fund pays dividends on a monthly schedule.

Expense Ratio: 0.67%

Load: None

Minimum Initial Investment: $1,000

30-Day Yield: 4.00%

Rated "A+ (Buy)" by TheStreet Ratings

-----------------------------

AllianceBernstein Muni Income Fund New York Portfolio

AllianceBernstein Muni Income Fund New York Portfolio (ALNYX) is managed by Michael G. Brooks, Fred S. Cohen, R.B. Davidson III, Terrance T. Hults and Wayne Godlin.

Expense Ratio: 0.86%

Load: 3.00%

Minimum Initial Investment: $2,500

30-Day Yield: 3.83%

Rated "B+ (Buy)" by TheStreet Ratings

-----------------------------

Dreyfus New York Tax Exempt Bond Fund

Dreyfus New York Tax Exempt Bond Fund (DRNYX) is managed by Thomas Casey and David Belton. This fund pays dividends monthly.

Expense Ratio: 0.74%

Load: NONE

Minimum Initial Investment: $2,500

30-Day Yield: 3.90%

Rated "A- (Buy)" by TheStreet Ratings

-----------------------------

BlackRock NY Municipal Bond Fund

BlackRock NY Municipal Bond Fund (MANKX) is managed by Timothy Browse and Ken Jacob. This fund is intended for institutional investors.

Expense Ratio: 0.74%

Load: NONE

Minimum Initial Investment: $2,000,000

30-Day Yield: 4.67%

Rated "A (Buy)" by TheStreet Ratings

-----------------------------

Nuveen New York Municipal Bond Fund

Nuveen New York Municipal Bond Fund (NNYAX) is managed by Scott Romans Ph.D. This fund pays dividends monthly.

Expense Ratio: 0.81%

Load: 4.20%

Minimum Initial Investment: $3,000

30-Day Yield: 4.21%

Rated "B+ (Buy)" by TheStreet Ratings

-----------------------------

Putnam NY Tax Exempt Income

Putnam NY Tax Exempt Income (PNYYX) is managed by Thalia Meehan, Paul Drury and Susan McCormack. This fund pays dividends monthly.

Expense Ratio: 0.53%

Load: NONE

Minimum Initial Investment: $500

30-Day Yield: 4.37%

Rated "A- (Buy)" by TheStreet Ratings

-----------------------------

T. Rowe Price NY Tax-Free Bond

T. Rowe Price NY Tax-Free Bond (PRNYX) is managed by Konstantine B. Mallas.

Expense Ratio: 0.51%

Load: NONE

Minimum Initial Investment: $2,500

30-Day Yield: 4.02%

Rated "A+ (Buy)" by TheStreet Ratings

-----------------------------

Vanguard NY Long-Term Tax-Exempt

Vanguard NY Long-Term Tax-Exempt (VNYTX) is managed by Michael G. Kobs. The fund distributes dividends monthly.

Expense Ratio: 0.20%

Load: NONE

Minimum Initial Investment: $3,000

30-Day Yield: 3.74%

Rated "A- (Buy)" by TheStreet Ratings

-- Written by a member of TheStreet Ratings Staff. You can find additional 2012 mutual fund ratings here.

TOOLS AND IDEAS FOR INCOME INVESTORS:





Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs