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Name

As of 02/11/2022

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

BMO Tax-Free Money Market

MTFXX | Fund

$1.00

$363 M

3.22%

$0.03

0.45%

Vitals

YTD Return

0.0%

1 yr return

0.0%

3 Yr Avg Return

0.5%

5 Yr Avg Return

0.6%

Net Assets

$363 M

Holdings in Top 10

27.2%

52 WEEK LOW AND HIGH

$1.0
$1.00
$1.00

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Money Market Fund

Name

As of 02/11/2022

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

BMO Tax-Free Money Market

MTFXX | Fund

$1.00

$363 M

3.22%

$0.03

0.45%

MTFXX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.01%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BMO Tax-Free Money Market
  • Fund Family Name
    BMO Funds
  • Inception Date
    Sep 22, 2004
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Thomas Byron

Fund Description

The Fund invests primarily in fixed and floating rate municipal bonds and notes, variable rate demand instruments, and other high-quality, short-term tax-exempt obligations maturing in 397 calendar days or less. Under normal circumstances, the Fund invests its assets so that at least 80% of the annual interest income that the Fund distributes will be exempt from federal income tax, including federal alternative minimum tax (AMT).
To maintain principal preservation, the Adviser places a strict emphasis on credit research. Using fundamental analysis, the Adviser develops an approved list of issuers and securities that meet the Adviser’s standards for minimal credit risk. The Adviser continually monitors the credit risks of all of the Fund’s portfolio securities on an ongoing basis by reviewing financial data. The Fund may invest only in securities which have been determined by the Adviser to present minimal credit risks to the Fund, based on the Adviser’s consideration of a number of factors including, but not limited to, financial condition, sources of liquidity, ability to react to market-wide and issuer- or guarantor-specific events, and positions within the industry and industry strength.
The Fund seeks to enhance yield by taking advantage of favorable changes in interest rates and reducing the effect of unfavorable changes in interest rates. In seeking to achieve this objective, the Adviser targets a dollar-weighted average portfolio maturity of 60 calendar days or less based on its interest rate outlook. The interest rate outlook is developed by analyzing a variety of factors, such as current and expected U.S. economic growth, current and expected interest rates and inflation, and the Federal Reserve Board’s monetary policy. By developing an interest rate outlook and adjusting the portfolio’s maturity accordingly, the Adviser seeks to position the Fund to take advantage of yield enhancing opportunities. The Adviser also integrates environmental, social, and governance (ESG) considerations into its investment process.
In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 under the Investment Company Act of 1940, as amended, which requires, among other things, the Fund to meet certain 
requirements as to portfolio quality, diversification, maturity, and liquidity. 
Read More

MTFXX - Performance

Return Ranking - Trailing

Period MTFXX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% 0.0% 0.0% 15.79%
1 Yr 0.0% 0.0% 0.1% 46.11%
3 Yr 0.5%* 0.0% 0.8% 56.05%
5 Yr 0.6%* 0.0% 1.0% 57.05%
10 Yr 0.3%* 0.0% 0.5% 52.76%

* Annualized

Return Ranking - Calendar

Period MTFXX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% 0.0% 0.0% 16.98%
2022 0.0% 0.0% 0.0% 16.25%
2021 0.0% 0.0% 0.0% 16.67%
2020 0.0% 0.0% 0.0% 14.68%
2019 0.0% 0.0% 0.0% 15.53%

Total Return Ranking - Trailing

Period MTFXX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% 0.0% 0.0% 15.79%
1 Yr 0.0% -1.0% 0.1% 46.11%
3 Yr 0.5%* 0.0% 0.8% 56.05%
5 Yr 0.6%* 0.0% 1.0% 57.05%
10 Yr 0.3%* 0.0% 0.5% 52.76%

* Annualized

Total Return Ranking - Calendar

Period MTFXX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% 0.0% 0.0% 16.98%
2022 0.0% 0.0% 0.0% 16.25%
2021 0.0% 0.0% 0.0% 16.67%
2020 0.0% 0.0% 0.0% 14.81%
2019 0.0% 0.0% 0.0% 15.69%

NAV & Total Return History

MTFXX - Holdings

Concentration Analysis

MTFXX Category Low Category High MTFXX % Rank
Net Assets 363 M 29.6 M 17.9 B 68.26%
Number of Holdings 77 1 885 73.05%
Net Assets in Top 10 99.6 M 14.1 M 17.9 B 77.25%
Weighting of Top 10 27.24% 12.4% 100.0% 61.08%

Top 10 Holdings

  1. MISSISSIPPI BUSINESS FIN CORP GULF OPPORTUNITY ZONE REV 0.3% 5.81%
  2. JACKSON-UNION CNTYS ILL REGL PORT DIST PORT FACS REV 0.09% 4.17%
  3. OXFORD ALA 0.16% 4.13%
  4. OHIO ST UNIV GEN RCPTS 0.01% 3.87%
  5. SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD REV 0.08% 3.79%
  6. HARRIS CNTY TEX IAM COML PAPER NTS 3/A2 SER D-2 0.13% 3.77%
  7. TENDER OPT BD TR RCPTS / CTFS VAR STS 0.18% 3.74%
  8. JACKSON CNTY MISS PORT FAC REV 0.01% 3.54%
  9. JACKSONVILLE FLA HEALTH CARE FACS REV 0.03% 3.53%
  10. NEW YORK N Y 0.13% 3.51%

Asset Allocation

Weighting Return Low Return High MTFXX % Rank
Bonds 		88.10% 0.00% 99.95% 28.74%
Cash 		11.90% 0.05% 100.00% 63.47%
Stocks 		0.00% 0.00% 0.00% 16.17%
Preferred Stocks 		0.00% 0.00% 0.00% 16.17%
Other 		0.00% 0.00% 11.81% 26.95%
Convertible Bonds 		0.00% 0.00% 0.00% 16.17%

Bond Sector Breakdown

Weighting Return Low Return High MTFXX % Rank
Municipal 		88.10% 0.00% 99.95% 37.13%
Cash & Equivalents 		11.90% 0.05% 100.00% 63.47%
Derivative 		0.00% 0.00% 0.00% 16.17%
Securitized 		0.00% 0.00% 0.00% 16.17%
Corporate 		0.00% 0.00% 0.49% 19.16%
Government 		0.00% 0.00% 14.31% 20.96%

Bond Geographic Breakdown

Weighting Return Low Return High MTFXX % Rank
US 		88.10% 0.00% 99.95% 28.74%
Non US 		0.00% 0.00% 0.00% 16.17%

MTFXX - Expenses

Operational Fees

MTFXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.12% 1.18% 35.93%
Management Fee 0.20% 0.08% 0.50% 61.68%
12b-1 Fee N/A 0.00% 0.75% N/A
Administrative Fee 0.04% 0.03% 0.55% 4.17%

Sales Fees

MTFXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

MTFXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

MTFXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 16.00% 100.00%

MTFXX - Distributions

Dividend Yield Analysis

MTFXX Category Low Category High MTFXX % Rank
Dividend Yield 3.22% 0.00% 0.00% 16.17%

Dividend Distribution Analysis

MTFXX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

MTFXX Category Low Category High MTFXX % Rank
Net Income Ratio 0.01% 0.00% 0.46% 59.51%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MTFXX - Fund Manager Analysis

Managers

Thomas Byron

Start Date

Tenure

Tenure Rank

Oct 04, 2016

5.33

5.3%

Tom is a senior portfolio manager on the BMO Tax-Exempt Fixed Income Team. Before joining BMO Global Asset Management in 2015, Tom was a senior portfolio manager at Invesco. He began his career in the investment industry as a unit trust administrator for Invesco in 1981. Tom holds an M.B.A. in finance from DePaul University and a B.S. in finance from Marquette University.

Robert Wimmel

Start Date

Tenure

Tenure Rank

Oct 04, 2016

5.33

5.3%

Rob is the head of Tax-Exempt Fixed Income at BMO Global Asset Management. Rob began his career in the investment industry in 1992 and joined BMO Global Asset Management in 2015. Previously, Rob was head of investment-grade municipals at Invesco from 1996 to 2015. Rob holds an M.A. in economics from the University of Illinois at Chicago and a B.A. in anthropology cum laude from the University of Cincinnati.

Brian Sipich

Start Date

Tenure

Tenure Rank

Oct 04, 2016

5.33

5.3%

Mr. Sipich joined BMO Asset Management Corp in 2015 where he serves as a Vice President and Portfolio Manager. Previously, Mr. Sipich was a quantitative analyst at Invesco Advisers and held various positions there since 2008. He is a CFA Charterholder.

Michael Montgomery

Start Date

Tenure

Tenure Rank

Dec 27, 2019

2.1

2.1%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.5 27.56 14.26 14.93

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