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VMPIX Wells Fargo Strategic Municipal Bd B

  • Fund
  • VMPIX
  • Price as of: Dec 09, 2016
  • $8.83
  • - $0.04
  • - 0.45%
  • Category
  • National Munis

VMPIX - Profile

Vitals

  • YTD Return -1.3%
  • 3 Yr Annualized Return 1.4%
  • 5 Yr Annualized Return 1.6%
  • Net Assets $1.89 B
  • Holdings in Top 10 10.7%

52 WEEK LOW AND HIGH

$8.83
$8.83
$9.06

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.56%

SALES FEES

  • Front Load N/A
  • Deferred Load 5.00%

BROKERAGE FEES

  • Turnover 53.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2009-06-30

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return -1.3%
  • 3 Yr Annualized Total Return 0.4%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.79%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Wells Fargo Strategic Municipal Bond Fund
  • Fund Family Name Wells Fargo Funds
  • Inception Date Mar 21, 1985
  • Shares Outstanding N/A
  • Share Class B
  • Currency USD
  • Domiciled Country United States
  • Manager Robert J. Miller

VMPIX - Performance

Return Ranking - Trailing

Period VMPIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.3% -5.6% 99.4% 17.07% 2
1 Yr -0.2% -5.8% 10.7% 42.14% 3
3 Yr 1.4% * -4.5% 7.0% 69.32% 4
5 Yr 1.6% * -0.7% 6.1% 71.32% 4
10 Yr 2.1% * -0.6% 4.9% 81.62% 5

* Annualized


Return Ranking - Calendar

Period VMPIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.2% -10.9% 2.6% 26.01% 3
2014 2.2% -2.2% 12.0% 46.95% 4
2013 -1.7% -11.9% 0.1% 12.36% 2
2012 1.6% -7.1% 10.2% 46.36% 4
2011 1.9% -1.8% 15.2% 58.24% 5

Total Return Ranking - Trailing

Period VMPIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -1.3% -4.7% 99.4% 26.99% 2
1 Yr -5.1% -8.9% 8.9% 94.17% 5
3 Yr 0.4% * -5.4% 7.0% 83.02% 5
5 Yr 1.2% * -1.2% 6.1% 73.93% 4
10 Yr 2.1% * -0.6% 4.9% 80.56% 5

* Annualized


Total Return Ranking - Calendar

Period VMPIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.0% -9.7% 5.1% 29.22% 2
2014 3.1% -0.9% 17.0% 49.21% 4
2013 -1.1% -11.9% 2.1% 11.22% 1
2012 2.5% -0.6% 17.8% 45.14% 3
2011 2.0% -1.1% 16.2% 62.31% 5

NAV & Total Return History

VMPIX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

VMPIX Category Low Category High VMPIX % Rank Quintile
Net Assets 1.89 B 491 K 50.6 B 10.79% 2
Number of Holdings 530 1 6199 10.65% 2
Net Assets in Top 10 122 M -176 M 1.27 B 15.97% 3
Weighting of Top 10 10.7% 0.0% 100.0% 22.90% 3

Top 10 Holdings

  1. Us 10yr Note (Cbt)dec16 Xcbt 20161220 2.28%
  2. Golden St Tob Securitization C Ctfs 1.26%
  3. Miami-Dade Cnty Fla Seaport Re Rev 0.56% 1.04%
  4. Eclipse Fdg Tr Var Sts Solar Ecl 1.03%
  5. Louisa Va Indl Dev Auth 2.15% 0.98%
  6. New Mexico Mun Engy Acquisit Ref Bds 0.86%
  7. Wyandotte Cnty Kans City Kans Sales Tax 0.83%
  8. Indiana St Fin Auth 5% 0.82%
  9. Chicago Ill Brd Ed Go Dedica 1.38% 0.81%
  10. New York N Y City Transitional Fut 0.79% 0.81%

Asset Allocation

Weighting Category Low Category High VMPIX % Rank Quintile
Bonds
95.05% 0.00% 202.21% 20.29% 4
Cash
4.41% -110.85% 100.00% 11.45% 2
Other
0.53% -2.77% 27.54% 3.71% 1
Convertible Bonds
0.00% 0.00% 2.79% 0.81% 1
Preferred Stocks
0.00% 0.00% 11.68% 1.45% 1
Stocks
0.00% 0.00% 1.43% 1.13% 1

Bond Sector Breakdown

Weighting Category Low Category High VMPIX % Rank Quintile
Municipal
97.34% 0.00% 140.30% 13.06% 3
Cash & Equivalents
4.41% -110.85% 100.00% 11.61% 2
Derivative
0.00% -0.43% 5.58% 0.48% 1
Corporate
0.00% 0.00% 34.61% 4.19% 1
Securitized
0.00% 0.00% 41.81% 2.90% 1
Government
-2.28% -43.18% 117.34% 9.03% 5

Bond Geographic Breakdown

Weighting Category Low Category High VMPIX % Rank Quintile
US
95.05% 0.00% 202.21% 20.16% 4
Non US
0.00% 0.00% 20.62% 0.81% 1

VMPIX - Expenses

Operational Fees

VMPIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.56% 0.10% 4.60% 6.60% 5
Management Fee 0.37% 0.00% 1.00% 3.54% 2
12b-1 Fee 0.75% 0.00% 1.00% 2.46% 4
Administrative Fee 0.16% 0.00% 0.35% 3.11% 5

Sales Fees

VMPIX Fees (% of AUM) Category Low Category High VMPIX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load 5.00% 0.50% 5.50% 1.20% 5

Trading Fees

VMPIX Fees (% of AUM) Category Low Category High VMPIX 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.

VMPIX Fees (% of AUM) Category Low Category High VMPIX Rank Quintile
Turnover 53.00% 0.00% 783.51% 4.99% 5

VMPIX - Distributions

Dividend Yield Analysis

VMPIX Category Low Category High VMPIX % Rank Quintile
Dividend Yield 0.0% 0.00% 2.86% 53.34% 5

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VMPIX Category Low Category High VMPIX % Rank Quintile
Net Income Ratio 0.79% -0.60% 5.26% 43.64% 5

Capital Gain Distribution Analysis

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

VMPIX - Managers

Robert J. Miller

Manager

Start Date

Oct 01, 2010

Tenure

6.17

Tenure Rank

11.0%

Robert Miller is a senior portfolio manager for the Wells Capital Management Tax-Exempt Fixed Income team, where he manages both mutual funds and separate accounts. Prior to joining WellsCap in 2008, Robert worked for American Century Investments for 10 years where he was part of team managing the firm’s municipal bond portfolios. Robert had direct responsibility for the firm’s national intermediate- and long-term investment grade strategies. In addition, he managed several other state-specific funds for the firm. Robert also served as a member of its analytical team. Earlier, Robert spent eight years in New York as a municipal bond analyst with Moody’s Investors Service where he served as an analyst in the States and High Profile Ratings Group as well as the Airport Credit Group, the Southeast Regional Ratings Group, and the Mid-Atlantic Regional Ratings Group. He also founded a small venture capital firm and served as a consultant with Black and Veatch and KPMG Peat Marwick, where he specialized in conducting financial feasibility studies in support of large infrastructure projects. Robert earned a bachelor’s degree in business administration with a concentration in finance from San Jose State University and a master’s degree in business administration from the Leonard N. Stern School of Business at New York University.


Wendy Casetta

Manager

Start Date

Oct 01, 2010

Tenure

6.17

Tenure Rank

11.0%

Wendy Casetta is a senior portfolio manager for the Wells Capital Management Tax-Exempt Fixed Income team. She joined Wells Capital Management from Strong Capital Management where she held a similar position. Prior to joining Strong, Wendy was a fixed income trader and investment associate at Barnett Capital Advisors in Jacksonville, FL. She began her investment industry career in 1993 as a registered representative at the Nicholas Company in Milwaukee, WI. Wendy earned a bachelor’s degree in finance from the University of Wisconsin, Oshkosh, and a master’s degree in business administration from the University of North Florida, Jacksonville.


Lyle J. Fitterer

Manager

Start Date

Jan 13, 2010

Tenure

6.88

Tenure Rank

10.1%

Lyle Fitterer is head of the Tax-Exempt Fixed Income team at Wells Capital Management, where he manages portfolio teams focused on municipal fixed income strategies. In addition to this role, Lyle also served as head of the WellsCap Customized Fixed Income team, which manages taxable longer duration strategies, from mid-2005 to early 2009. Lyle joined the firm in 2005 from Strong Capital Management. At Strong, he was appointed director of Strong’s Municipal Fixed Income team in 2000. Prior to that, he served in a variety of other roles with the firm, including managing director of Strong’s Institutional Client Services team where he was responsible for overseeing institutional and intermediary sales. For six years prior to that, Lyle was a member of the Strong Taxable Fixed Income team, initially as an analyst and trader and then as a portfolio manager specializing in mortgage and asset-backed securities. Lyle began his investment career in 1989. He earned a bachelor’s degree in accounting from the University of North Dakota. He is a Certified Public Accountant and has earned the right to use the CFA designation. Lyle is a member of CFA Institute. His views have been cited in various publications including: The Wall Street Journal, Bloomberg, Barron's, and The Bond Buyer.


Tenure Analysis

Category Low

0.0

Category High

37.2

Category Average

7.34

Category Mode

1.9