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SQMCX Deutsche Massachusetts Tax-Free C

  • Fund
  • SQMCX
  • Price as of: Oct 20, 2017
  • $14.39
  • - $0.03
  • - 0.21%
  • Category
  • Single State Municipal Bonds

SQMCX - Profile

Vitals

  • YTD Return 1.6%
  • 3 Yr Annualized Return 1.7%
  • 5 Yr Annualized Return 1.4%
  • Net Assets $425 M
  • Holdings in Top 10 27.0%

52 WEEK LOW AND HIGH

$14.39
$13.99
$14.64

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.79%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 34.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Massachusetts

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 2.51%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Deutsche Massachusetts Tax-Free Fund
  • Fund Family Name Deutsche Asset Management
  • Inception Date Jun 18, 2001
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Ashton P. Goodfield

Fund Description

Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in Massachusetts municipal securities. For purposes of this 80% requirement, Massachusetts municipal securities are securities whose income is exempt from federal and Massachusetts personal income taxes, which may include securities of issuers located outside Massachusetts. The fund is non-diversified.

SQMCX - Performance

Return Ranking - Trailing

Period SQMCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.6% -22.9% 5.9% 37.46% 3
1 Yr -0.6% -5.7% 11.9% 76.56% 4
3 Yr 1.7% * -0.8% 8.2% 80.89% 5
5 Yr 1.4% * -0.7% 7.1% 82.29% 5
10 Yr 3.3% * 0.1% 5.8% 64.53% 4

* Annualized


Return Ranking - Calendar

Period SQMCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.4% -4.9% 0.6% 58.98% 5
2015 -0.8% -7.9% 7.9% 47.33% 4
2014 5.9% -7.6% 15.6% 34.48% 3
2013 -8.4% -20.2% 6.4% 52.61% 4
2012 4.5% -0.9% 13.5% 19.02% 2

Total Return Ranking - Trailing

Period SQMCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.6% -22.9% 5.9% 37.46% 3
1 Yr -1.6% -10.2% 8.6% 51.95% 3
3 Yr 1.7% * -1.3% 8.2% 58.23% 3
5 Yr 1.4% * -1.0% 7.1% 71.95% 4
10 Yr 3.3% * 0.1% 5.8% 57.58% 3

* Annualized


Total Return Ranking - Calendar

Period SQMCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.4% -4.9% 0.7% 59.78% 5
2015 -0.8% -7.9% 7.6% 52.88% 4
2014 5.9% -7.6% 17.8% 37.90% 3
2013 -8.4% -20.2% 6.4% 54.94% 4
2012 4.5% -0.6% 13.5% 22.83% 2

NAV & Total Return History

SQMCX - Holdings

Filings data as of: Aug 31, 2017

Concentration Analysis

SQMCX Category Low Category High SQMCX % Rank Quintile
Net Assets 425 M 2.11 M 16 B 11.14% 2
Number of Holdings 118 18 3653 14.16% 3
Net Assets in Top 10 114 M -6.62 M 2.58 B 8.05% 2
Weighting of Top 10 27.0% 3.8% 73.5% 12.51% 2

Top 10 Holdings

  1. Massachusetts St Wtr Pollutn A Pol 5.25% 3.87%
  2. Massachusetts Dept Transn Met Rev Bds 5% 3.69%
  3. Massachusetts Bay Transn Auth 5.25% 3.05%
  4. Massachusetts St Sch Bldg Auth 5.25% 2.73%
  5. Massachusetts St Wtr Res Auth 4% 2.64%
  6. Massachusetts St Health & Edl Rev Bds 5% 2.52%
  7. Massachusetts St Port Auth 5% 2.20%
  8. Tender Opt Bd Tr Rcpts / Ctfs Ctfs 2.19%
  9. Massachusetts St Sch Bldg Auth 4% 2.04%
  10. Massachusetts St Dev Fin Agy R Rev Bd 5% 2.02%

Asset Allocation

Weighting Category Low Category High SQMCX % Rank Quintile
Bonds
100.00% 0.00% 102.15% 2.13% 1
Stocks
0.00% 0.00% 0.75% 0.68% 1
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 1
Other
0.00% -0.40% 23.51% 5.24% 1
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 1
Cash
0.00% -3.54% 99.63% 20.47% 4

Bond Sector Breakdown

Weighting Category Low Category High SQMCX % Rank Quintile
Municipal
100.00% 0.00% 115.37% 2.52% 1
Derivative
0.00% -5.89% 0.00% 0.10% 1
Cash & Equivalents
0.00% -3.54% 99.63% 19.98% 4
Securitized
0.00% 0.00% 0.00% 0.10% 1
Corporate
0.00% 0.00% 5.14% 2.23% 1
Government
0.00% -19.53% 6.87% 6.11% 2

Bond Geographic Breakdown

Weighting Category Low Category High SQMCX % Rank Quintile
US
100.00% 0.00% 109.11% 2.23% 1
Non US
0.00% -10.46% 0.00% 0.10% 1

SQMCX - Expenses

Operational Fees

SQMCX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.79% 0.09% 5.19% 3.49% 5
Management Fee 0.44% 0.00% 1.30% 2.23% 2
12b-1 Fee 1.00% 0.00% 1.00% 0.13% 4
Administrative Fee 0.10% 0.00% 0.33% 3.55% 3

Sales Fees

SQMCX Fees (% of AUM) Category Low Category High SQMCX Rank Quintile
Front Load N/A 1.00% 5.75% N/A N/A
Deferred Load 1.00% 0.50% 5.50% 1.60% 1

Trading Fees

SQMCX Fees (% of AUM) Category Low Category High SQMCX Rank Quintile
Max Redemption Fee N/A 0.50% 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.

SQMCX Fees (% of AUM) Category Low Category High SQMCX Rank Quintile
Turnover 34.00% 0.00% 219.00% 2.90% 5

SQMCX - Distributions

Dividend Yield Analysis

SQMCX Category Low Category High SQMCX % Rank Quintile
Dividend Yield 0.4% 0.00% 0.99% 15.36% 2

Dividend Distribution Analysis

SQMCX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SQMCX Category Low Category High SQMCX % Rank Quintile
Net Income Ratio 2.51% 0.00% 6.13% 16.78% 4

Capital Gain Distribution Analysis

SQMCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Daily Annually

SQMCX - Managers

Ashton P. Goodfield

Manager

Start Date

Oct 01, 2014

Tenure

3.0

Tenure Rank

9.7%

ASHTON P. GOODFIELD, MANAGING DIRECTOR, CFA. Co-Lead Portfolio Manager of the fund, joined Deutsche Asset Management in 1986, managed municipal assets for individuals, insurance companies and other institutions as well as for mutual funds; served on the Finance Advisory Board of the Commonwealth of Massachusetts from 1990 to 2000, BA from Duke University.


Rebecca L. Flinn

Lead Manager

Start Date

Apr 01, 1999

Tenure

18.51

Tenure Rank

2.5%

REBECCA L. FLINN, DIRECTOR. Portfolio Manager of the fund. Joined the fund in 1998.Joined Deutsche Asset Management in 1986. Over 24 years of investment industry experience. BA, University of Redlands, California.


Tenure Analysis

Category Low

0.1

Category High

38.0

Category Average

9.72

Category Mode

2.8