Sit Minnesota Tax-Free Income Fund
Name
As of 05/17/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.5%
1 yr return
3.9%
3 Yr Avg Return
-1.6%
5 Yr Avg Return
0.5%
Net Assets
$406 M
Holdings in Top 10
15.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.81%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 20.82%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/17/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SMTFX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return -1.6%
- 5 Yr Annualized Total Return 0.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.50%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSit Minnesota Tax-Free Income Fund
-
Fund Family NameSit Mutual Funds
-
Inception DateDec 01, 1993
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Jungquist
Fund Description
SMTFX - Performance
Return Ranking - Trailing
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -3.2% | 14.5% | 1.63% |
1 Yr | 3.9% | -2.2% | 30.4% | 50.33% |
3 Yr | -1.6%* | -10.7% | 2.8% | 72.81% |
5 Yr | 0.5%* | -6.3% | 1102.0% | 66.67% |
10 Yr | 1.9%* | -0.6% | 248.3% | 34.87% |
* Annualized
Return Ranking - Calendar
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.1% | -1.4% | 41.0% | 94.45% |
2022 | -13.3% | -39.7% | 0.3% | 76.19% |
2021 | 0.1% | -5.6% | 6.9% | 24.83% |
2020 | 0.7% | -2.6% | 310.0% | 89.38% |
2019 | 3.7% | 0.0% | 26.0% | 53.35% |
Total Return Ranking - Trailing
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -3.2% | 14.5% | 1.63% |
1 Yr | 3.9% | -2.2% | 30.4% | 50.33% |
3 Yr | -1.6%* | -10.7% | 2.8% | 72.81% |
5 Yr | 0.5%* | -6.3% | 1102.0% | 66.67% |
10 Yr | 1.9%* | -0.6% | 248.3% | 34.87% |
* Annualized
Total Return Ranking - Calendar
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.9% | -1.3% | 41.0% | 84.91% |
2022 | -10.4% | -39.7% | 1.1% | 65.81% |
2021 | 2.7% | -4.8% | 23761504.0% | 21.11% |
2020 | 3.8% | -1.5% | 17057.9% | 49.01% |
2019 | 6.7% | 0.2% | 3514.6% | 43.72% |
NAV & Total Return History
SMTFX - Holdings
Concentration Analysis
SMTFX | Category Low | Category High | SMTFX % Rank | |
---|---|---|---|---|
Net Assets | 406 M | 3.22 M | 71.9 B | 52.35% |
Number of Holdings | 291 | 2 | 13067 | 41.17% |
Net Assets in Top 10 | 63.3 M | -317 M | 3.56 B | 57.20% |
Weighting of Top 10 | 15.80% | 2.0% | 100.2% | 58.60% |
Top 10 Holdings
- White Bear Lake Independent School District No 624 2.34%
- City of Rochester MN 1.85%
- Minnesota Housing Finance Agency 1.80%
- Minnesota Housing Finance Agency 1.62%
- Minnesota Housing Finance Agency 1.55%
- City of Rochester MN 1.53%
- Minnesota Housing Finance Agency 1.46%
- Minnesota Housing Finance Agency 1.37%
- Housing Redevelopment Authority of The City of St Paul Minnesota 1.22%
- Minnesota Higher Education Facilities Authority 1.05%
Asset Allocation
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
Bonds | 95.04% | 0.00% | 150.86% | 87.57% |
Cash | 5.79% | -50.86% | 46.80% | 6.64% |
Stocks | 0.36% | 0.00% | 99.81% | 5.34% |
Preferred Stocks | 0.00% | 0.00% | 0.10% | 41.11% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 41.07% |
Other | -1.20% | -3.18% | 23.38% | 99.61% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 0.00% | N/A |
Technology | 0.00% | 0.00% | 0.00% | N/A |
Real Estate | 0.00% | 0.00% | 0.00% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 0.00% | N/A |
Financial Services | 0.00% | 0.00% | 0.00% | N/A |
Energy | 0.00% | 0.00% | 0.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 0.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
US | 0.36% | 0.00% | 99.81% | 5.34% |
Non US | 0.00% | 0.00% | 10.75% | 41.04% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
Municipal | 99.87% | 44.39% | 100.00% | 17.72% |
Cash & Equivalents | 0.00% | 0.00% | 46.24% | 72.90% |
Securitized | 0.00% | 0.00% | 5.93% | 38.72% |
Corporate | 0.00% | 0.00% | 9.41% | 48.79% |
Government | 0.00% | 0.00% | 52.02% | 45.45% |
Derivative | -1.20% | -3.18% | 23.38% | 99.67% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
US | 95.04% | 0.00% | 142.23% | 84.17% |
Non US | 0.00% | 0.00% | 23.89% | 46.58% |
SMTFX - Expenses
Operational Fees
SMTFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.81% | 0.01% | 20.65% | 41.94% |
Management Fee | 0.80% | 0.00% | 1.20% | 99.22% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
SMTFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
SMTFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
SMTFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 20.82% | 0.00% | 283.00% | 61.16% |
SMTFX - Distributions
Dividend Yield Analysis
SMTFX | Category Low | Category High | SMTFX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.13% | 0.00% | 14.51% | 29.95% |
Dividend Distribution Analysis
SMTFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SMTFX | Category Low | Category High | SMTFX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.50% | -0.53% | 5.33% | 18.52% |
Capital Gain Distribution Analysis
SMTFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.025 | OrdinaryDividend |
Mar 28, 2024 | $0.025 | OrdinaryDividend |
Feb 29, 2024 | $0.024 | OrdinaryDividend |
Jan 31, 2024 | $0.027 | OrdinaryDividend |
Dec 29, 2023 | $0.024 | OrdinaryDividend |
Nov 30, 2023 | $0.024 | OrdinaryDividend |
Oct 31, 2023 | $0.026 | OrdinaryDividend |
Sep 29, 2023 | $0.023 | OrdinaryDividend |
Aug 31, 2023 | $0.024 | OrdinaryDividend |
Jul 31, 2023 | $0.024 | OrdinaryDividend |
May 31, 2023 | $0.026 | OrdinaryDividend |
Apr 28, 2023 | $0.023 | OrdinaryDividend |
Feb 28, 2023 | $0.021 | OrdinaryDividend |
Jan 31, 2023 | $0.024 | OrdinaryDividend |
Dec 30, 2022 | $0.022 | OrdinaryDividend |
Dec 15, 2022 | $0.025 | CapitalGainShortTerm |
Nov 30, 2022 | $0.023 | OrdinaryDividend |
Oct 31, 2022 | $0.023 | OrdinaryDividend |
Sep 30, 2022 | $0.022 | OrdinaryDividend |
Aug 31, 2022 | $0.024 | OrdinaryDividend |
Jul 29, 2022 | $0.021 | OrdinaryDividend |
Jun 30, 2022 | $0.023 | OrdinaryDividend |
May 31, 2022 | $0.024 | OrdinaryDividend |
Apr 29, 2022 | $0.022 | OrdinaryDividend |
Mar 31, 2022 | $0.023 | OrdinaryDividend |
Feb 28, 2022 | $0.021 | OrdinaryDividend |
Jan 31, 2022 | $0.022 | OrdinaryDividend |
Dec 31, 2021 | $0.022 | OrdinaryDividend |
Nov 30, 2021 | $0.023 | OrdinaryDividend |
Oct 29, 2021 | $0.021 | OrdinaryDividend |
Sep 30, 2021 | $0.021 | OrdinaryDividend |
Aug 31, 2021 | $0.023 | OrdinaryDividend |
Jun 30, 2021 | $0.024 | OrdinaryDividend |
May 28, 2021 | $0.021 | OrdinaryDividend |
Apr 30, 2021 | $0.023 | OrdinaryDividend |
Mar 31, 2021 | $0.026 | OrdinaryDividend |
Feb 26, 2021 | $0.022 | OrdinaryDividend |
Jan 29, 2021 | $0.023 | OrdinaryDividend |
Dec 31, 2020 | $0.024 | OrdinaryDividend |
Nov 30, 2020 | $0.024 | OrdinaryDividend |
Oct 30, 2020 | $0.024 | OrdinaryDividend |
Sep 30, 2020 | $0.024 | OrdinaryDividend |
Aug 31, 2020 | $0.025 | OrdinaryDividend |
Jul 31, 2020 | $0.026 | OrdinaryDividend |
Jun 30, 2020 | $0.027 | OrdinaryDividend |
May 29, 2020 | $0.024 | OrdinaryDividend |
Apr 30, 2020 | $0.030 | OrdinaryDividend |
Mar 31, 2020 | $0.027 | OrdinaryDividend |
Feb 28, 2020 | $0.023 | OrdinaryDividend |
Jan 31, 2020 | $0.025 | OrdinaryDividend |
Dec 31, 2019 | $0.026 | OrdinaryDividend |
Nov 29, 2019 | $0.023 | OrdinaryDividend |
Oct 31, 2019 | $0.025 | OrdinaryDividend |
Sep 30, 2019 | $0.025 | OrdinaryDividend |
Aug 30, 2019 | $0.024 | OrdinaryDividend |
Jul 31, 2019 | $0.027 | OrdinaryDividend |
SMTFX - Fund Manager Analysis
Managers
Paul Jungquist
Start Date
Tenure
Tenure Rank
Dec 31, 2000
21.43
21.4%
Paul J. Jungquist is Vice President of Sit Investment Associates, Inc. Jungquist joined Sit Investment Associates in January 1994 and has been a portfolio manager since 2000. Previously, he worked as an auditor for Grant Thornton and has served as an assistant controller for a publicly held engineering services company. Jungquist holds the Chartered Financial Analyst designation.
Todd Emerson
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Todd S. Emerson, Vice President and Portfolio Manager, has served as a portfolio manager since July 2020 and as a research analyst from August 2018 through July 2020.
Kevin O’Brien
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Kevin P. O’Brien, Vice President and Portfolio Manager, has served as a portfolio manager since July 2020 and as a research analyst from August 2018 through July 2020.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |