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Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Columbia Multi-Sector Municipal Income ETF

MUST | ETF

$20.65

$391 M

3.27%

$0.68

0.23%

Vitals

YTD Return

1.4%

1 yr return

5.9%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

1.3%

Net Assets

$391 M

Holdings in Top 10

5.8%

52 WEEK LOW AND HIGH

$20.6
$20.11
$20.87

Expenses

OPERATING FEES

Expense Ratio 0.23%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 6.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Columbia Multi-Sector Municipal Income ETF

MUST | ETF

$20.65

$391 M

3.27%

$0.68

0.23%

MUST - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.65%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Columbia Multi-Sector Municipal Income ETF
  • Fund Family Name
    Columbia Funds Complex
  • Inception Date
    Oct 10, 2018
  • Shares Outstanding
    9750000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Catherine Stienstra

Fund Description

The Fund is an exchange-traded fund (ETF) that seeks to track the performance of the Index. The Fund invests at least 80% of its assets in securities within the Index. For purposes of this policy, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in bonds and other debt instruments issued by or on behalf of state or local governmental units whose interest is exempt from U.S. federal income tax. In addition, the Fund may invest in cash, cash equivalents and money market instruments, such as money market funds (including money market funds advised by Columbia Management Investment Advisers, LLC (Columbia Management or the Investment Manager)), that the Investment Manager believes will help the Fund track the performance of the Index.
The Index is owned and calculated by Bloomberg Index Services Limited (Bloomberg or the Index Provider), which is not affiliated with the Fund or Columbia Management. The Index was developed by Columbia Management working with the Index Provider.
Beta Advantage® Multi-Sector Approach to U.S. Municipal Debt Market Investing. The Index reflects a rules-based, multi-sector strategic beta approach to measuring the performance of the U.S tax-exempt bond market, which is composed of bonds issued by or on behalf of state or local governments whose interest is exempt from regular federal income tax (but may be subject to the alternative minimum tax), through representation of five segments of the municipal (or muni) debt market (muni core revenue debt, muni health care-related debt, muni high quality revenue debt, muni general obligation (GO) debt, and muni high yield debt (also known as “junk bonds”) segments) in the Index, with a focus on yield, quality, maturity, liquidity, and interest rate sensitivity of the particular segment. The Index includes publicly issued U.S. dollar denominated, fixed rate municipal bonds. California bonds, Guam bonds, Puerto Rico bonds, U.S. Virgin Island bonds, other U.S. territories, commonwealths and possessions, pre-refunded bonds, insured bonds, floaters, callable bonds with less than one year to call, tobacco bonds, and derivatives are all excluded from the Index.
Each of the five muni segment’s component bonds, other than the muni high yield segment, is derived from a sub-set index or indices of the Bloomberg Barclays Municipal Bond Index (the Parent Index), which serves as each segment’s starting universe of securities eligible for inclusion in the Index. The Parent Index is a broad-based, market value-weighted index designed to measure the performance of the U.S. municipal bond market. The Index is designed to achieve higher yields and stronger risk-adjusted returns relative to that of the Parent Index. The Indexis market-value weighted.
The Fund may invest in privately placed and other securities or instruments that are purchased and sold pursuant to Rule 144A or other exemptions under the Securities Act of 1933, as amended, subject to certain regulatory restrictions.
The Index is reconstituted and rebalanced monthly typically on the last business day of each month. The Fund will typically experience portfolio turnover in connection with Index reconstitution and rebalancing.
Columbia Management utilizes a “representative sampling” strategy whereby the Fund invests in only some of the component securities of the Index that, collectively, are believed by the Investment Manager to generally reflect the same risk and return characteristics of the Index. As such, the Fund may not track the Index with the same degree of accuracy as would a fund replicating (or investing in) the entire Index. Through its representative sampling investment technique, the Fund expects to typically hold 625-725 holdings, which is a subset of the total number of holdings in the Index, which, as of January 31, 2024, had 6,158 holdings. There may be instances in which the Fund may overweight (or underweight) an Index holding, purchase (or sell) instruments not in the Index as a substitute for one or more securities in the Index or utilize various combinations of other available investment techniques in seeking to track the performance of the Index. The Fund may hold less than or more than the typical number of holdings in the range stated above, with the Fund portfolio management team applying investment experience and insight with the goal of seeking investment results that closely correspond to the performance of the Index.
The Fund may sell securities or other holdings that are represented in the Index or purchase securities or make other investments that are not yet represented in the Index in anticipation of their removal from or addition to the Index.
The Investment Manager does not invest the Fund’s assets based on its view of the investment merits of a particular security or company, neither does it conduct fundamental investment research or analysis, nor seek to forecast or otherwise consider market movements, conditions or trends in managing the Fund’s assets. The Fund pursues its investment objective of correlating performance with the Index regardless of market conditions and does not take defensive positions.
To the extent the Index is concentrated in a particular segment, sector or industry, the Fund will be concentrated in that segment, sector or industry.
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MUST - Performance

Return Ranking - Trailing

Period MUST Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.6% 33.0% 85.54%
1 Yr 5.9% -0.1% 38.0% 60.96%
3 Yr -0.4%* -10.8% 3.4% 45.02%
5 Yr 1.3%* -6.7% 1104.0% 18.63%
10 Yr N/A* -0.9% 248.8% 14.82%

* Annualized

Return Ranking - Calendar

Period MUST Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% -1.4% 41.0% 21.58%
2022 -10.4% -39.7% 0.3% 38.28%
2021 0.3% -5.6% 6.9% 20.46%
2020 4.2% -2.6% 310.0% 2.64%
2019 5.4% 0.0% 26.0% 9.64%

Total Return Ranking - Trailing

Period MUST Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.6% 33.0% 85.54%
1 Yr 5.9% -0.1% 38.0% 60.96%
3 Yr -0.4%* -10.8% 3.4% 45.02%
5 Yr 1.3%* -6.7% 1104.0% 18.63%
10 Yr N/A* -0.9% 248.8% N/A

* Annualized

Total Return Ranking - Calendar

Period MUST Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -1.3% 41.0% 36.34%
2022 -8.8% -39.7% 1.1% 43.29%
2021 1.9% -4.8% 23761504.0% 41.75%
2020 6.7% -1.5% 17057.9% 3.89%
2019 6.7% 0.2% 3514.6% 44.93%

MUST - Holdings

Concentration Analysis

MUST Category Low Category High MUST % Rank
Net Assets 391 M 3.22 M 71.9 B 54.60%
Number of Holdings 593 4 13418 20.59%
Net Assets in Top 10 23.6 M -317 M 3.09 B 83.68%
Weighting of Top 10 5.82% 1.8% 100.3% 95.13%

Top 10 Holdings

  1. County of Lehigh PA 0.73%
  2. City County of Denver CO Airport System Re 0.72%
  3. New York Transportation Development Corp 0.65%
  4. New Jersey Transportation Trust Fund Authori 0.58%
  5. New Jersey Turnpike Authority 0.57%
  6. Port Authority of New York New Jersey 0.56%
  7. Ohio Water Development Authority Water Pollu 0.52%
  8. Chicago Board of Education 0.50%
  9. County of Miami-Dade Seaport Department 0.50%
  10. State of Georgia 0.48%

Asset Allocation

Weighting Return Low Return High MUST % Rank
Bonds 		98.60% 0.00% 150.86% 58.46%
Cash 		1.40% -50.86% 44.62% 40.97%
Stocks 		0.00% 0.00% 99.78% 88.22%
Preferred Stocks 		0.00% 0.00% 0.07% 86.94%
Other 		0.00% -3.69% 51.88% 83.08%
Convertible Bonds 		0.00% 0.00% 0.93% 86.69%

Bond Sector Breakdown

Weighting Return Low Return High MUST % Rank
Municipal 		99.15% 44.39% 100.00% 37.06%
Cash & Equivalents 		0.15% 0.00% 44.41% 48.30%
Derivative 		0.00% -3.69% 51.88% 77.81%
Securitized 		0.00% 0.00% 5.93% 87.02%
Corporate 		0.00% 0.00% 9.41% 88.49%
Government 		0.00% 0.00% 52.02% 89.03%

Bond Geographic Breakdown

Weighting Return Low Return High MUST % Rank
US 		98.60% 0.00% 142.23% 56.10%
Non US 		0.00% 0.00% 23.89% 86.68%

MUST - Expenses

Operational Fees

MUST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.23% 0.01% 8.02% 96.73%
Management Fee 0.23% 0.00% 1.20% 8.59%
12b-1 Fee 0.00% 0.00% 1.00% 15.46%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MUST 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

MUST 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.

MUST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 6.00% 0.00% 283.00% 9.22%

MUST - Distributions

Dividend Yield Analysis

MUST Category Low Category High MUST % Rank
Dividend Yield 3.27% 0.00% 14.51% 56.26%

Dividend Distribution Analysis

MUST Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MUST Category Low Category High MUST % Rank
Net Income Ratio 1.65% -0.53% 5.33% 65.75%

Capital Gain Distribution Analysis

MUST Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

MUST - Fund Manager Analysis

Managers

Catherine Stienstra

Start Date

Tenure

Tenure Rank

Oct 10, 2018

3.64

3.6%

Director and Senior Portfolio Manager of the Columbia Management Investment Advisers, LLC; associated with the Columbia Management Investment Advisers, LLC as an investment professional since 2007. Sector Leader of the Adviser’s Municipal Bond Team from 2007 to 2010. Prior to 2007, Ms. Stienstra was employed by FAF Advisors, Inc. (formerly USBancorp Asset Management) from 1998 to 2007, where she was a Director and Senior Portfolio Manager. Ms. Stienstra began her investment career in 1988 and earned a B.A. from the University of Nebraska.

Anders Myhran

Start Date

Tenure

Tenure Rank

Oct 10, 2018

3.64

3.6%

Mr. Myhran joined the Investment Manager in 1992. Mr. Myhran began his investment career in 1992 and earned a B.A. in business with majors in finance and quantitative analysis from the University of Wisconsin.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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