AZTFX: Aquila Tax-Free Trust of Arizona A

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AZTFX Aquila Tax-Free Trust of Arizona A


Profile

AZTFX - Profile

Vitals

  • YTD Return 0.2%
  • 3 Yr Annualized Return 0.3%
  • 5 Yr Annualized Return -0.1%
  • Net Assets $259 M
  • Holdings in Top 10 16.7%

52 WEEK LOW AND HIGH

$10.80
$10.07
$11.02

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.73%

SALES FEES

  • Front Load 4.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 34.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA N/A

Fund Classification

  • Primary Caregory Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Single State Interm

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Daily
  • Net Income Ratio 2.74%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Aquila Tax Free Trust of Arizona Fund
  • Fund Family Name
    Aquila
  • Inception Date
    Mar 13, 1986
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Royden Durham

Fund Description

Under normal circumstances, at least 80% of the fund's net assets will be invested in municipal obligations that pay interest exempt, in the opinion of bond counsel, from Arizona state and regular Federal income taxes, the income paid upon which will not be subject to the Federal alternative minimum tax on individuals. These obligations can be of any maturity, but the fund's weighted average maturity has traditionally been between 5 and 15 years. The fund is non-diversified.


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Categories

Performance

AZTFX - Performance

Return Ranking - Trailing

Period AZTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -31.4% 945.6% 51.90%
1 Yr 1.1% -25.1% 973.3% 54.79%
3 Yr 0.3%* -10.3% 120.3% 58.11%
5 Yr -0.1%* -5.3% 60.2% 65.06%
10 Yr N/A* -5.1% 3.6% N/A

* Annualized

Return Ranking - Calendar

Period AZTFX Return Category Return Low Category Return High Rank in Category (%)
2019 3.3% -1.7% 18.3% 66.51%
2018 -2.1% -12.4% 0.8% 37.82%
2017 1.1% -6.0% 20.3% 49.19%
2016 -3.1% -7.8% 8.6% 85.83%
2015 -0.9% -18.3% 3.0% 48.66%

Total Return Ranking - Trailing

Period AZTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -31.4% 945.6% 51.90%
1 Yr 1.1% -25.1% 973.3% 54.79%
3 Yr 0.3%* -7.5% 120.3% 62.53%
5 Yr 0.0%* -5.3% 60.2% 71.69%
10 Yr N/A* -5.1% 6.8% N/A

* Annualized

Total Return Ranking - Calendar

Period AZTFX Return Category Return Low Category Return High Rank in Category (%)
2019 3.3% -1.7% 18.3% 66.98%
2018 -2.1% -11.7% 3.1% 46.22%
2017 1.1% -6.0% 27.0% 57.36%
2016 -3.0% -7.8% 10.7% 86.51%
2015 -0.9% -14.2% 4.2% 55.83%

NAV & Total Return History


Holdings

AZTFX - Holdings

Concentration Analysis

AZTFX Category Low Category High AZTFX % Rank
Net Assets 259 M 634 K 264 B 67.60%
Number of Holdings 239 1 17920 58.00%
Net Assets in Top 10 43 M -587 M 20.8 B 68.97%
Weighting of Top 10 16.67% 2.3% 100.0% 61.92%

Top 10 Holdings

  1. ARIZONA HEALTH FACS AUTH HOSP SYS REV 5% 2.46%
  2. PHOENIX ARIZ CIVIC IMPT CORP ARPT REV 4% 2.10%
  3. ARIZONA HEALTH FACS AUTH REV 4% 1.97%
  4. CHANDLER ARIZ INDL DEV AUTH INDL DEV REV 2.7% 1.68%
  5. MARICOPA CNTY ARIZ CTFS PARTN 5% 1.62%
  6. MARICOPA CNTY ARIZ SPL HEALTH CARE DIST 5% 1.42%
  7. GLENDALE ARIZ 5% 1.40%
  8. SALT VERDE FINL CORP SR GAS REV ARIZ 5.25% 1.36%
  9. ARIZONA SCH DIST TAX ANTIC NT FING PROG CTFS PARTN 2% 1.35%
  10. ARIZONA HEALTH FACS AUTH REV 5% 1.29%

Asset Allocation

Weighting Return Low Return High AZTFX % Rank
Bonds
97.96% 71.08% 159.74% 40.66%
Cash
2.04% -59.74% 27.48% 49.26%
Stocks
0.00% -0.38% 18.10% 71.90%
Preferred Stocks
0.00% 0.00% 9.11% 75.49%
Other
0.00% -27.60% 31.83% 69.85%
Convertible Bonds
0.00% 0.00% 7.31% 85.47%

Bond Sector Breakdown

Weighting Return Low Return High AZTFX % Rank
Municipal
97.90% 0.00% 100.11% 27.50%
Cash & Equivalents
2.10% -26.49% 24.02% 56.84%
Derivative
0.00% -0.83% 31.72% 74.12%
Securitized
0.00% 0.00% 98.72% 87.09%
Corporate
0.00% 0.00% 99.41% 89.84%
Government
0.00% -2.21% 100.00% 88.05%

Bond Geographic Breakdown

Weighting Return Low Return High AZTFX % Rank
US
97.96% 58.40% 156.78% 25.67%
Non US
0.00% -38.91% 29.50% 94.29%

Expenses

AZTFX - Expenses

Operational Fees

AZTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.73% 0.01% 34.57% 53.83%
Management Fee 0.40% 0.00% 1.25% 57.05%
12b-1 Fee 0.15% 0.00% 1.00% 21.91%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

AZTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.00% 0.50% 5.75% 39.58%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

AZTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

AZTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 34.00% 0.00% 489.00% 44.46%

Distributions

AZTFX - Distributions

Dividend Yield Analysis

AZTFX Category Low Category High AZTFX % Rank
Dividend Yield 0.00% 0.00% 6.20% 77.36%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

AZTFX Category Low Category High AZTFX % Rank
Net Income Ratio 2.74% -0.71% 6.02% 39.25%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

AZTFX - Fund Manager Analysis

Managers

Royden Durham


Start Date

Tenure

Tenure Rank

Apr 03, 2017

3.08

3.1%

Mr. Royden, co-portfolio manager of Aquila Investment Management LLC. Mr. Durham is a graduate of Heidelberg College with a B.A. in Economics and German. Most recently Mr. Durham served in a trust capacity for JP Morgan Chase. Prior to that he was a portfolio manager for Regions Morgan Keegan Trust and the Louisville Trust Company. He is a graduate of Heidelberg College with a B.A. in Economics and German.

James Thompson


Start Date

Tenure

Tenure Rank

Apr 03, 2017

3.08

3.1%

Mr. Thompson has served as a portfolio manager for Aquila Investment Management LLC since 2009. Prior to joining the Aquila Group of Funds, Thompson was a Senior Vice President, underwriter and municipal bond trader with Wells Fargo Brokerage Services and First Security Bank in Salt Lake City. He was also a member of the municipal credit committee of each firm. From 1987 to 1991, Mr. Thompson was employed with Wedbush Morgan Securities in Los Angeles where he helped establish the municipal unit investment trust sales desk. Prior to that, he was a financial and operations principal, municipal trader and manager of the municipal underwriting desk for Financial Market Securities, based in Orange, CA. Thompson is a native of Utah and attended California State University, Fullerton.

Anthony Tanner


Start Date

Tenure

Tenure Rank

Mar 07, 2018

2.15

2.2%

Mr. Tanner joined the Aquila Investment Management LLC portfolio management team on March 2018. Prior to joining Aquila, Mr. Tanner was a Senior Wealth Manager at BNY Mellon Wealth Management from 2016 to 2018, a Senior Client Advisor at BMO Private Bank from 2014 to 2015, and a Senior Fixed Income Manager at Wells Fargo Private Bank from 2010 to 2014. Before that, Mr. Tanner was a vice president of OppenheimerFunds' Rochester Division from 1991-2003. Previously, he served as a municipal bond trader and underwriter with Stifel, Nicolaus & Co. from 1986 to 1988. From 1984 to 1986, he was an investment banking officer at Centerre Bank in St. Louis, Mo. Mr. Tanner received an MBA in finance from the University of Rochester, Simon Business School, and a Bachelor’s degree in business from St. Louis University. He is a CFA Charterholder and a member of the CFA Institute and the Phoenix CFA Society.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.44 7.42 0.33