Brown Advisory Tax-Exempt Bond Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.1%
1 yr return
3.7%
3 Yr Avg Return
-0.4%
5 Yr Avg Return
1.1%
Net Assets
$880 M
Holdings in Top 10
23.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.44%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 47.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BTEIX - Profile
Distributions
- YTD Total Return 0.1%
- 3 Yr Annualized Total Return -0.4%
- 5 Yr Annualized Total Return 1.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.92%
- Dividend Yield 4.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBrown Advisory Tax-Exempt Bond Fund
-
Fund Family NameBrown Advisory Funds
-
Inception DateJun 29, 2012
-
Shares Outstanding89229441
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Shutz
Fund Description
BTEIX - Performance
Return Ranking - Trailing
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.1% | -4.7% | 10.3% | 18.39% |
1 Yr | 3.7% | -5.0% | 32.8% | 7.48% |
3 Yr | -0.4%* | -11.3% | 2.6% | 15.38% |
5 Yr | 1.1%* | -6.3% | 1101.9% | 23.02% |
10 Yr | N/A* | -0.5% | 248.2% | N/A |
* Annualized
Return Ranking - Calendar
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.9% | -1.4% | 41.0% | 42.28% |
2022 | -11.5% | -39.7% | 0.3% | 50.53% |
2021 | -0.1% | -5.6% | 6.9% | 32.80% |
2020 | 0.7% | -2.6% | 310.0% | 88.73% |
2019 | 4.3% | 0.0% | 26.0% | 32.73% |
Total Return Ranking - Trailing
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.1% | -4.7% | 10.3% | 18.39% |
1 Yr | 3.7% | -5.0% | 32.8% | 7.48% |
3 Yr | -0.4%* | -11.3% | 2.6% | 15.38% |
5 Yr | 1.1%* | -6.3% | 1101.9% | 23.02% |
10 Yr | N/A* | -0.5% | 248.2% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.4% | -1.3% | 41.0% | 11.34% |
2022 | -8.6% | -39.7% | 1.1% | 42.15% |
2021 | 3.2% | -4.8% | 23761504.0% | 13.94% |
2020 | 3.4% | -1.5% | 17057.9% | 64.56% |
2019 | 4.3% | 0.2% | 3514.6% | 85.38% |
NAV & Total Return History
BTEIX - Holdings
Concentration Analysis
BTEIX | Category Low | Category High | BTEIX % Rank | |
---|---|---|---|---|
Net Assets | 880 M | 3.22 M | 71.9 B | 31.47% |
Number of Holdings | 160 | 2 | 13067 | 69.98% |
Net Assets in Top 10 | 202 M | -317 M | 3.56 B | 19.95% |
Weighting of Top 10 | 23.58% | 2.0% | 100.2% | 26.33% |
Top 10 Holdings
- Main Street Natural Gas Inc 3.36%
- Tobacco Settlement Financing Corp/RI 2.76%
- Chandler Industrial Development Authority 2.75%
- First American Government Obligations Fund 2.74%
- Black Belt Energy Gas District 2.73%
- Love Field Airport Modernization Corp 2.10%
- Metropolitan Transportation Authority 2.05%
- Massachusetts Health Educational Facilities Authority 1.75%
- New York State Urban Development Corp 1.68%
- Illinois State Toll Highway Authority 1.66%
Asset Allocation
Weighting | Return Low | Return High | BTEIX % Rank | |
---|---|---|---|---|
Bonds | 96.64% | 0.00% | 150.86% | 78.38% |
Cash | 3.36% | -50.86% | 46.80% | 17.48% |
Stocks | 0.00% | 0.00% | 99.81% | 58.05% |
Preferred Stocks | 0.00% | 0.00% | 0.10% | 52.37% |
Other | 0.00% | -3.18% | 23.38% | 53.93% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 52.32% |
Bond Sector Breakdown
Weighting | Return Low | Return High | BTEIX % Rank | |
---|---|---|---|---|
Municipal | 96.88% | 44.39% | 100.00% | 67.12% |
Cash & Equivalents | 2.74% | 0.00% | 46.24% | 15.59% |
Derivative | 0.00% | -3.18% | 23.38% | 51.79% |
Securitized | 0.00% | 0.00% | 5.93% | 52.45% |
Corporate | 0.00% | 0.00% | 9.41% | 60.21% |
Government | 0.00% | 0.00% | 52.02% | 56.23% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | BTEIX % Rank | |
---|---|---|---|---|
US | 96.64% | 0.00% | 142.23% | 75.05% |
Non US | 0.00% | 0.00% | 23.89% | 56.79% |
BTEIX - Expenses
Operational Fees
BTEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.44% | 0.01% | 20.65% | 88.55% |
Management Fee | 0.30% | 0.00% | 1.20% | 16.36% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
BTEIX 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
BTEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 1.00% | 1.00% | 66.67% |
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.
BTEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 47.00% | 0.00% | 283.00% | 91.66% |
BTEIX - Distributions
Dividend Yield Analysis
BTEIX | Category Low | Category High | BTEIX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.03% | 0.00% | 14.54% | 1.82% |
Dividend Distribution Analysis
BTEIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
BTEIX | Category Low | Category High | BTEIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.92% | -0.53% | 5.33% | 51.61% |
Capital Gain Distribution Analysis
BTEIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.031 | OrdinaryDividend |
Mar 28, 2024 | $0.032 | OrdinaryDividend |
Feb 29, 2024 | $0.030 | OrdinaryDividend |
Jan 31, 2024 | $0.032 | OrdinaryDividend |
Dec 29, 2023 | $0.033 | OrdinaryDividend |
Nov 30, 2023 | $0.032 | OrdinaryDividend |
Oct 31, 2023 | $0.032 | OrdinaryDividend |
Sep 29, 2023 | $0.031 | OrdinaryDividend |
Aug 31, 2023 | $0.031 | OrdinaryDividend |
Jul 31, 2023 | $0.030 | OrdinaryDividend |
Jun 30, 2023 | $0.031 | OrdinaryDividend |
May 31, 2023 | $0.031 | OrdinaryDividend |
Apr 28, 2023 | $0.030 | OrdinaryDividend |
Mar 31, 2023 | $0.030 | OrdinaryDividend |
Feb 28, 2023 | $0.027 | OrdinaryDividend |
Jan 31, 2023 | $0.028 | OrdinaryDividend |
Dec 30, 2022 | $0.027 | OrdinaryDividend |
Nov 30, 2022 | $0.026 | OrdinaryDividend |
Oct 31, 2022 | $0.026 | DailyAccrualFund |
Sep 30, 2022 | $0.024 | DailyAccrualFund |
Aug 31, 2022 | $0.021 | DailyAccrualFund |
Jul 29, 2022 | $0.024 | DailyAccrualFund |
Jun 30, 2022 | $0.023 | DailyAccrualFund |
May 31, 2022 | $0.022 | DailyAccrualFund |
Apr 29, 2022 | $0.022 | DailyAccrualFund |
Mar 31, 2022 | $0.021 | DailyAccrualFund |
Feb 28, 2022 | $0.020 | DailyAccrualFund |
Jan 31, 2022 | $0.022 | DailyAccrualFund |
Dec 31, 2021 | $0.023 | DailyAccrualFund |
Nov 30, 2021 | $0.022 | DailyAccrualFund |
Oct 29, 2021 | $0.022 | DailyAccrualFund |
Sep 30, 2021 | $0.022 | DailyAccrualFund |
Aug 31, 2021 | $0.023 | DailyAccrualFund |
Jul 30, 2021 | $0.026 | DailyAccrualFund |
Jun 30, 2021 | $0.022 | DailyAccrualFund |
May 28, 2021 | $0.023 | DailyAccrualFund |
Apr 30, 2021 | $0.022 | DailyAccrualFund |
Mar 31, 2021 | $0.023 | DailyAccrualFund |
Feb 26, 2021 | $0.020 | DailyAccrualFund |
Jan 29, 2021 | $0.022 | DailyAccrualFund |
Dec 31, 2020 | $0.022 | DailyAccrualFund |
Nov 30, 2020 | $0.022 | DailyAccrualFund |
Oct 30, 2020 | $0.023 | DailyAccrualFund |
Sep 30, 2020 | $0.022 | DailyAccrualFund |
Aug 31, 2020 | $0.023 | DailyAccrualFund |
Jul 31, 2020 | $0.023 | DailyAccrualFund |
Jun 30, 2020 | $0.022 | DailyAccrualFund |
May 29, 2020 | $0.023 | DailyAccrualFund |
Apr 30, 2020 | $0.023 | DailyAccrualFund |
Mar 31, 2020 | $0.022 | DailyAccrualFund |
Feb 28, 2020 | $0.021 | DailyAccrualFund |
Jan 31, 2020 | $0.023 | DailyAccrualFund |
Dec 31, 2019 | $0.001 | DailyAccrualFund |
Nov 29, 2019 | $0.001 | DailyAccrualFund |
Oct 31, 2019 | $0.001 | DailyAccrualFund |
Sep 30, 2019 | $0.001 | DailyAccrualFund |
Aug 30, 2019 | $0.001 | DailyAccrualFund |
Jul 31, 2019 | $0.027 | OrdinaryDividend |
BTEIX - Fund Manager Analysis
Managers
Stephen Shutz
Start Date
Tenure
Tenure Rank
Jun 29, 2012
9.93
9.9%
Steve Shutz, CFA, is a portfolio manager and primarily concentrates on the management, trading and analysis of tax-exempt bonds. Prior to joining the firm, Steve was a vice president and assistant portfolio manager at Cavanaugh Capital Management (CCM) responsible for the trading of tax-exempt securities and portfolio analytics. Before joining CCM, he was a portfolio and research analyst at Merrill Lynch. Steve began his investment career at Legg Mason.
Joshua Perry
Start Date
Tenure
Tenure Rank
Oct 31, 2017
4.58
4.6%
Josh is a partner and portfolio manager and a municipal credit analyst on the fixed income team. He primarily focuses on tax-exempt credit analysis. Prior to joining the firm, he served as a fixed income credit analyst at Driehaus Capital Management. Prior to that he was a commodities analyst at Constellation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |