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Trending ETFs

Name

As of 12/16/2022

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

$9.47

$6.68 M

1.33%

$0.13

0.54%

Vitals

YTD Return

-4.0%

1 yr return

-5.1%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

-0.9%

Net Assets

$6.68 M

Holdings in Top 10

57.0%

52 WEEK LOW AND HIGH

$9.5
$9.37
$9.98

Expenses

OPERATING FEES

Expense Ratio 0.54%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 38.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/16/2022

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

$9.47

$6.68 M

1.33%

$0.13

0.54%

SMMAX - Profile

Distributions

  • YTD Total Return -4.0%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return -0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.30%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix Short-Term Municipal Bond Fund
  • Fund Family Name
    Virtus
  • Inception Date
    Apr 13, 2005
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Dusty Self

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal securities, including securities subject to the U.S. federal alternative minimum tax, with the income exempt from regular U.S. federal income tax. The fund will invest primarily in investment grade short-term

municipal securities. The issuers of these securities may be located in any U.S. state, territory or possession. The fund may also invest a portion of its net assets in certain taxable debt instruments. The fund expects that it will normally maintain an effective maturity of 3 years or less.

In selecting investments for purchase and sale, the subadviser tries to manage risk as much as possible. Based on the subadviser’s analysis of municipalities, credit risk, market trends and investment cycles, the subadviser attempts to invest more of the fund’s assets in undervalued municipal securities and less in overvalued municipal securities taking into consideration maturity, sector, credit, state and supply and demand levels.

The subadviser also attempts to identify and invest in municipal issuers with improving credit and avoid those with deteriorating credit. The fund invests in securities rated investment grade by at least one nationally recognized statistical rating organization or unrated securities that the subadviser believes are of comparable quality. The subadviser may retain securities if the rating of the security falls below investment grade and the subadviser deems retention of the security to be in the best interests of the fund.

In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as treasury futures) to use as part of a strategy designed to reduce exposure to other risks, such as interest rate or credit risks.

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SMMAX - Performance

Return Ranking - Trailing

Period SMMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.0% -86.8% 7.5% 20.41%
1 Yr -5.1% -28.5% 15.7% 31.26%
3 Yr -2.3%* -10.7% 51.9% 39.13%
5 Yr -0.9%* -6.0% 29.0% 39.06%
10 Yr N/A* -3.5% 13.2% 93.40%

* Annualized

Return Ranking - Calendar

Period SMMAX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.0% -91.1% 101.7% 90.09%
2022 0.6% -79.2% 102.5% 68.57%
2021 0.4% -66.1% 6.4% 74.12%
2020 0.0% -57.4% 18.9% 18.72%
2019 N/A -35.9% 3.2% N/A

Total Return Ranking - Trailing

Period SMMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.0% -86.8% 7.5% 20.13%
1 Yr -5.1% -28.5% 15.4% 32.29%
3 Yr -2.3%* -10.7% 51.9% 40.83%
5 Yr -0.9%* -6.0% 29.0% 43.91%
10 Yr N/A* -3.5% 13.3% 96.19%

* Annualized

Total Return Ranking - Calendar

Period SMMAX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.0% -91.1% 101.7% 90.10%
2022 0.6% -79.2% 102.5% 68.54%
2021 0.4% -66.1% 13.4% 74.18%
2020 0.0% -57.4% 18.9% 22.13%
2019 N/A -35.9% 3.2% N/A

NAV & Total Return History


SMMAX - Holdings

Concentration Analysis

SMMAX Category Low Category High SMMAX % Rank
Net Assets 6.68 M 1.23 M 73.9 B 99.47%
Number of Holdings 25 1 14000 79.84%
Net Assets in Top 10 3.81 M -317 M 8.64 B 79.61%
Weighting of Top 10 57.03% 2.4% 100.0% 21.93%

Top 10 Holdings

  1. NORTH TEX TWY AUTH REV 5% 8.85%
  2. Dreyfus Government Cash Mgmt Instl 8.41%
  3. NEW JERSEY ST 5% 8.21%
  4. NORTH TEX TWY AUTH REV 5% 7.61%
  5. SALT RIV PROJ AGRIC IMPT & PWR DIST ARIZ ELEC SYS REV 5% 7.56%
  6. LONG IS PWR AUTH N Y ELEC SYS REV 5% 6.85%
  7. CALIFORNIA ST 5% 5.98%
  8. E 470 PUB HWY AUTH COLO REV 5% 5.91%
  9. CONNECTICUT ST SPL TAX OBLIG REV 5% 5.53%
  10. COLORADO SPRINGS COLO UTILS REV 0.19% 5.49%

Asset Allocation

Weighting Return Low Return High SMMAX % Rank
Bonds
84.22% 0.00% 150.86% 98.47%
Cash
15.78% -50.86% 100.00% 1.35%
Stocks
0.00% -0.03% 4.63% 80.39%
Preferred Stocks
0.00% -1.79% 0.04% 79.07%
Other
0.00% -13.03% 30.01% 79.34%
Convertible Bonds
0.00% 0.00% 0.93% 79.52%

Bond Sector Breakdown

Weighting Return Low Return High SMMAX % Rank
Municipal
84.22% 0.00% 100.00% 97.93%
Cash & Equivalents
15.78% 0.00% 100.00% 1.57%
Derivative
0.00% 0.00% 21.68% 79.52%
Securitized
0.00% 0.00% 5.93% 79.61%
Corporate
0.00% 0.00% 9.99% 83.61%
Government
0.00% 0.00% 52.02% 81.45%

Bond Geographic Breakdown

Weighting Return Low Return High SMMAX % Rank
US
84.22% 0.00% 142.23% 96.27%
Non US
0.00% 0.00% 62.14% 97.17%

SMMAX - Expenses

Operational Fees

SMMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.54% 0.02% 3.60% 52.70%
Management Fee 0.35% 0.00% 1.10% 29.32%
12b-1 Fee 0.15% 0.00% 1.00% 27.41%
Administrative Fee 0.10% 0.01% 0.44% 44.47%

Sales Fees

SMMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.00% 4.90% 91.32%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

SMMAX 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.

SMMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 38.00% 0.00% 283.00% 86.68%

SMMAX - Distributions

Dividend Yield Analysis

SMMAX Category Low Category High SMMAX % Rank
Dividend Yield 1.33% 0.00% 35.27% 68.10%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SMMAX Category Low Category High SMMAX % Rank
Net Income Ratio 0.30% -0.53% 24.00% 97.49%

Capital Gain Distribution Analysis

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

Distributions History

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SMMAX - Fund Manager Analysis

Managers

Dusty Self


Start Date

Tenure

Tenure Rank

Nov 17, 2011

10.54

10.5%

Dusty Self is a Senior Portfolio Manager and Managing Director at Seix Investment Advisors LLC and provides analysis for all the Investment Grade Tax-Exempt Bond Funds. Ms. Self began her career as a portfolio specialist and then as a performance analyst at Seix Investment Advisors’ predecessor firm. She has worked in investment management since 1992.

Ronald Schwartz


Start Date

Tenure

Tenure Rank

Nov 17, 2011

10.54

10.5%

Ronald Schwartz joined Seix Investment Advisors LLC’ predecessor firm in 1988 and currently serves as Senior Portfolio Manager and Managing Director and leads the Investment Grade Tax-Exempt group at Seix Investment Advisors LLC. He is a member of the Seix Investment Policy Group, which determines firm-wide asset allocation policy. He has worked in investment management since 1982.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.23 1.58