Fund Evaluator:

Wilmington New York Municipal Bond A Overview

Wilmington New York Municipal Bond A (WNYAX) is an actively managed Municipal Bond Muni New York Intermediate fund. Wilmington Funds launched the fund in 1993.

The investment seeks to provide current income that is exempt from both federal and New York personal income taxes. The fund seeks to achieve its investment goal, under normal circumstances, by investing its net assets so that at least 80% of the income it distributes will be exempt from federal regular income tax and personal income tax imposed by the State of New York and New York municipalities. It generally invests in investment grade municipal securities. The fund seeks to maintain a weighted average maturity of three to ten years. It is non-diversified.

About Wilmington New York Municipal Bond A (WNYAX)

There are 2 members of the management team with an average tenure of 10.75 years: John Malloy (2012), Jason Hannon (2019). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P Municipal Bond TR index with a weighting of 100% and S&P Municipal Bond Intermediate TR index with a weighting of 100%. Wilmington New York Municipal Bond A has 61 securities in its portfolio. The top 10 holdings constitute 30.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Wilmington New York Municipal Bond A is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Wilmington New York Municipal Bond A has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.5% (99.5% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Wilmington New York Municipal Bond A has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $3 million in total assets, which is below the $104 million average for the Muni New York Intermediate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

WNYAX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Wilmington New York Municipal Bond A expense ratio is high compared to funds in the Muni New York Intermediate category. Wilmington New York Municipal Bond A has an expense ratio of 0.81%, which is 6% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Wilmington New York Municipal Bond A has a portfolio turnover rate of 8%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 21% for the Muni New York Intermediate category.

Recently, in the month of August 2026, Wilmington New York Municipal Bond A returned -0.1%, which earned it a grade of B, as the Muni New York Intermediate category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Wilmington New York Municipal Bond A has a trailing yield of 2.17%, which is below the 2.91% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Wilmington New York Municipal Bond A Grades

Year to date, the fund has returned -0.6%, 0.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.1% over the past year (grade of F), 2.5% over the past three years (grade of F) and 0.1% per year over the past five years (grade of D) and 0.9% per year over the past 10 years (grade of F).

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