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SMLAX DWS Managed Municipal Bond A

  • Fund
  • SMLAX
  • Price as of: Dec 12, 2018
  • $8.85
  • - $0.00
  • - 0.00%
  • Category
  • National Munis

SMLAX - Profile

Vitals

  • YTD Return -3.5%
  • 3 Yr Annualized Return 1.6%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $4.15 B
  • Holdings in Top 10 8.6%

52 WEEK LOW AND HIGH

$8.85
$8.73
$9.18

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.77%

SALES FEES

  • Front Load 2.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 42.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return -3.5%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.08%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name DWS Managed Municipal Bond Fund
  • Fund Family Name DWS
  • Inception Date Jun 11, 2001
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Michael J. Generazo

SMLAX - Performance

Return Ranking - Trailing

Period SMLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.5% -13.2% 99.4% 65.05% 5
1 Yr 0.0% -5.8% 10.7% 80.94% 5
3 Yr 1.6% * -4.5% 7.0% 41.75% 3
5 Yr 3.5% * -0.5% 5.8% 23.82% 2
10 Yr 5.0% * 0.0% 8.4% 20.95% 2

* Annualized


Return Ranking - Calendar

Period SMLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 2.0% -5.3% 5.6% 24.49% 2
2016 -3.5% -8.5% 7.3% 61.37% 5
2015 -0.9% -10.9% 8.8% 50.60% 5
2014 6.8% -10.3% 12.0% 11.56% 1
2013 -7.7% -11.9% 8.7% 61.80% 5

Total Return Ranking - Trailing

Period SMLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.5% -13.2% 99.4% 64.89% 5
1 Yr -2.7% -8.9% 8.9% 82.41% 5
3 Yr 0.6% * -5.4% 7.0% 67.18% 4
5 Yr 2.9% * -1.4% 5.8% 30.12% 2
10 Yr 4.8% * 0.0% 8.4% 24.90% 2

* Annualized


Total Return Ranking - Calendar

Period SMLAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 2.0% -5.3% 5.6% 24.49% 2
2016 -3.5% -8.2% 7.3% 65.13% 5
2015 -0.8% -9.7% 9.3% 60.68% 5
2014 6.8% -10.3% 17.0% 14.71% 1
2013 -7.7% -11.9% 8.9% 65.07% 5

NAV & Total Return History

SMLAX - Holdings

Filings data as of: Oct 31, 2018

Concentration Analysis

SMLAX Category Low Category High SMLAX % Rank Quintile
Net Assets 4.15 B 491 K 58.1 B 5.15% 1
Number of Holdings 523 1 7949 12.58% 2
Net Assets in Top 10 362 M -284 M 1.74 B 5.32% 1
Weighting of Top 10 8.6% 0.0% 100.0% 30.16% 4

Top 10 Holdings

  1. NEW YORK LIBERTY DEV CORP 5.25% 1.16%
  2. SOUTH CAROLINA PUB SVC AUTH 5.75% 0.98%
  3. PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR 6.5% 0.94%
  4. CALIFORNIA ST 5% 0.90%
  5. E 470 PUB HWY AUTH COLO 0% 0.85%
  6. NEW YORK ST DORM AUTH 5% 0.78%
  7. NORTH TEX TWY AUTH 6% 0.77%
  8. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN 5% 0.75%
  9. BROWARD CNTY FLA 5% 0.74%
  10. DE KALB CNTY GA 5.25% 0.74%

Asset Allocation

Weighting Category Low Category High SMLAX % Rank Quintile
Bonds
99.90% 0.00% 202.21% 3.38% 1
Cash
0.10% -110.85% 100.00% 29.68% 5
Stocks
0.00% 0.00% 0.32% 0.97% 2
Preferred Stocks
0.00% 0.00% 9.82% 0.81% 2
Other
0.00% -2.77% 31.66% 5.81% 2
Convertible Bonds
0.00% 0.00% 2.29% 0.97% 2

Bond Sector Breakdown

Weighting Category Low Category High SMLAX % Rank Quintile
Municipal
99.90% 0.00% 121.79% 3.55% 1
Cash & Equivalents
0.10% -110.85% 100.00% 28.71% 4
Derivative
0.00% -5.91% 0.85% 0.65% 2
Securitized
0.00% 0.00% 41.80% 2.26% 2
Corporate
0.00% 0.00% 41.51% 5.00% 2
Government
0.00% -21.73% 117.34% 6.29% 2

Bond Geographic Breakdown

Weighting Category Low Category High SMLAX % Rank Quintile
US
99.90% 0.00% 202.21% 2.42% 1
Non US
0.00% 0.00% 26.08% 14.19% 3

SMLAX - Expenses

Operational Fees

SMLAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.77% 0.08% 4.80% 17.39% 3
Management Fee 0.33% 0.00% 0.65% 4.19% 2
12b-1 Fee 0.24% 0.00% 1.00% 4.65% 2
Administrative Fee 0.10% 0.00% 0.35% 4.97% 3

Sales Fees

SMLAX Fees (% of AUM) Category Low Category High SMLAX Rank Quintile
Front Load 2.75% 0.50% 5.75% 7.14% 2
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

SMLAX Fees (% of AUM) Category Low Category High SMLAX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover 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.

SMLAX Fees (% of AUM) Category Low Category High SMLAX Rank Quintile
Turnover 42.00% 0.00% 504.54% 8.21% 4

SMLAX - Distributions

Dividend Yield Analysis

SMLAX Category Low Category High SMLAX % Rank Quintile
Dividend Yield 0.3% 0.00% 1.01% 22.35% 2

Dividend Distribution Analysis

SMLAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SMLAX Category Low Category High SMLAX % Rank Quintile
Net Income Ratio 3.08% 0.01% 5.26% 12.56% 2

Capital Gain Distribution Analysis

SMLAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

SMLAX - Managers

Michael J. Generazo

Manager

Start Date

Jun 01, 2010

Tenure

8.5

Tenure Rank

9.9%

Portfolio Manager for Municipal Bond Funds: Boston, MA Joined the Company in 1999 with 6 years of industry experience. Prior to his current role, Michael was a Municipal Bond Trader for Private Investment Clients. Previously, he served as a Trader and Portfolio Manager at Breckenridge Capital Advisors and as a Senior Financial Reporting Analyst at Massachusetts Financial Services. Michael began his career as a Financial Reporting Analyst at The Boston Company BS from Bryant College; MBA from Suffolk University


Ashton P. Goodfield

Lead Manager

Start Date

Dec 31, 1998

Tenure

19.93

Tenure Rank

2.3%

Co-Head Municipal Bond Department and Portfolio Manager for Municipal Bond Mutual Funds: Boston, MA Joined the Company in 1986. Prior to her current role, Ashton was Head of Municipal Bond Trading. Over the course of her career, Ashton has managed municipal assets for individuals, mutual funds, insurance companies and other institutions BA from Duke University; CFA Charterholder


Matthew J. Caggiano

Manager

Start Date

Dec 31, 1999

Tenure

18.93

Tenure Rank

2.5%

Portfolio Manager for Municipal Bonds: Boston, MA Joined the Company in 1989. Prior to his current role, Matthew served as a Portfolio Manager and Trader for Insurance portfolios. Previously, Matthew served as an Assistant Trader for Tax Exempt Municipal Bond funds and as a Research Assistant for the Municipal Bond Group BS from Pennsylvania State University; MS from Boston College; CFA Charterholder


Chad H. Farrington

Manager

Start Date

Dec 10, 2018

Tenure

0.0

Tenure Rank

21.2%

Mr. Farrington joined the Columbia Management Investment Advisers, LLC in May 2010 when it acquired the long-term asset management business of Columbia Management Group, where he worked as an investment professional since 2003. Mr. Farrington began his investment career in 1998 and earned a B.S. from Montana State University. Mr. Farrington holds the charted financial analyst designation.


Carol L. Flynn

Manager

Start Date

Dec 10, 2018

Tenure

0.0

Tenure Rank

21.2%

Co-Head Municipal Bond Department: Boston, MA Joined the Company in 1994 with 4 years of industry experience. Prior to her current role, Carol was Head of the Municipal Bond Research Team. Prior to joining, she was a Fixed Income Investment Manager at The Travelers BS from Duke University; MBA from University of Connecticut; CFA Charterholder


Tenure Analysis

Category Low

0.0

Category High

39.1

Category Average

8

Category Mode

0.5