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Trending ETFs

Name

As of 03/27/2024

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

$18.39

$126 M

2.33%

$0.43

0.77%

Vitals

YTD Return

-0.5%

1 yr return

1.7%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

0.5%

Net Assets

$126 M

Holdings in Top 10

16.6%

52 WEEK LOW AND HIGH

$18.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$18.39

$126 M

2.33%

$0.43

0.77%

KTXIX - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.49%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    The Kansas Tax-Free Intermediate Bond Fund
  • Fund Family Name
    Commerce
  • Inception Date
    Jan 12, 2001
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Musielak

Fund Description

Security Types: Under normal market conditions, the Fund invests at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in Kansas municipal bonds, the income from which, in the opinion of bond counsel, is exempt from regular federal income taxes, federal alternative minimum taxes and Kansas taxes. Alternatively, at least 80% of the Fund’s distributed income must be exempt from such taxes. In addition to obligations issued by the State of Kansas and its subdivisions, authorities, instrumentalities and agencies, the Fund may also invest in obligations issued by U.S. territories, commonwealths and possessions (such as Puerto Rico, the U.S. Virgin Islands and Guam) that pay interest that is exempt from federal and Kansas income tax. The Fund’s 80% investment strategy is fundamental–meaning that it can be changed only by the holders of a majority of the outstanding voting securities of the Fund.
The Fund seeks to maximize the proportion of its dividends that are exempt from both federal and Kansas income tax.
The Fund strives to minimize net realized capital gains.
Credit Quality: Except as described below, the municipal securities in which the Fund invests will be rated investment grade (e.g., in the top four credit-rating categories) at the time of purchase by at least one nationally recognized statistical rating organization, or if unrated will be deemed by the Adviser to be of comparable quality to investment grade municipal securities. The Fund may invest up to 10% of its total assets in such unrated securities. The Fund may invest up to 5% of its total assets in high yield (non-investment grade) securities known as junk bonds. Subsequent to purchase, the Fund’s municipal securities may be downgraded below investment grade or may be deemed by the Adviser to be no longer comparable to investment grade securities. The Adviser will consider such an event in determining whether the Fund should continue to hold the security, except that the Fund may not hold more than 5% of its total assets in high yield (non-investment grade) securities.
Maturity Distribution: The Fund actively manages maturities to take advantage of changes in interest rates. Under normal market conditions, the average weighted maturity of the Fund’s portfolio securities will be five to twelve years.
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KTXIX - Performance

Return Ranking - Trailing

Period KTXIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -2.7% 12.2% 80.17%
1 Yr 1.7% -3.0% 38.5% 90.24%
3 Yr -1.1%* -10.3% 3.3% 67.48%
5 Yr 0.5%* -5.7% 1102.9% 76.45%
10 Yr 1.6%* -0.2% 248.3% 65.32%

* Annualized

Return Ranking - Calendar

Period KTXIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -1.4% 41.0% 75.84%
2022 -8.9% -39.7% 0.3% 26.48%
2021 -1.3% -5.6% 6.9% 85.25%
2020 2.6% -2.6% 310.0% 14.20%
2019 3.3% 0.0% 26.0% 66.30%

Total Return Ranking - Trailing

Period KTXIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -2.7% 12.2% 80.17%
1 Yr 1.7% -3.0% 38.5% 90.24%
3 Yr -1.1%* -10.3% 3.3% 67.48%
5 Yr 0.5%* -5.7% 1102.9% 76.45%
10 Yr 1.6%* -0.2% 248.3% 65.32%

* Annualized

Total Return Ranking - Calendar

Period KTXIX Return Category Return Low Category Return High Rank in Category (%)
2023 4.2% -1.3% 41.0% 79.86%
2022 -7.2% -39.7% 1.1% 28.19%
2021 0.3% -4.8% 23761504.0% 79.30%
2020 4.3% -1.5% 17057.9% 31.37%
2019 4.6% 0.2% 3514.6% 83.56%

NAV & Total Return History


KTXIX - Holdings

Concentration Analysis

KTXIX Category Low Category High KTXIX % Rank
Net Assets 126 M 3.48 M 68.1 B 80.46%
Number of Holdings 132 2 12848 74.94%
Net Assets in Top 10 20.9 M -317 M 3.4 B 85.70%
Weighting of Top 10 16.63% 1.9% 100.4% 55.96%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 2.20%
  2. JOHNSON MIAMI CNTYS KS UNIF SCH DIST #230 1.70%
  3. JOHNSON CNTY KS 1.63%
  4. UNIV OF KANSAS KS HOSP AUTH HLTH FACS REVENUE 1.61%
  5. INDEPENDENCE KS 1.60%
  6. UNIV OF KANSAS KS HOSP AUTH HLTH FACS REVENUE 1.59%
  7. KANSAS ST DEV FIN AUTH REVENUE 1.59%
  8. BEL AIRE KS 1.59%
  9. DOUGLAS CNTY KS UNIF SCH DIST#491 EUDORA 1.56%
  10. INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK 1.54%

Asset Allocation

Weighting Return Low Return High KTXIX % Rank
Bonds
98.14% 0.00% 150.86% 60.40%
Stocks
2.20% 0.00% 99.80% 3.54%
Preferred Stocks
0.00% 0.00% 0.52% 34.41%
Other
0.00% -8.54% 33.35% 39.82%
Convertible Bonds
0.00% 0.00% 0.93% 34.35%
Cash
0.00% -50.86% 50.09% 91.37%

Stock Sector Breakdown

Weighting Return Low Return High KTXIX % Rank
Utilities
0.00% 0.00% 0.00% 42.28%
Technology
0.00% 0.00% 0.00% 40.00%
Real Estate
0.00% 0.00% 0.00% 40.00%
Industrials
0.00% 0.00% 100.00% 10.87%
Healthcare
0.00% 0.00% 0.00% 40.67%
Financial Services
0.00% 0.00% 0.00% 47.92%
Energy
0.00% 0.00% 0.00% 55.17%
Communication Services
0.00% 0.00% 100.00% 43.62%
Consumer Defense
0.00% 0.00% 0.00% 39.33%
Consumer Cyclical
0.00% 0.00% 100.00% 43.62%
Basic Materials
0.00% 0.00% 0.00% 40.40%

Stock Geographic Breakdown

Weighting Return Low Return High KTXIX % Rank
US
2.20% 0.00% 99.80% 3.54%
Non US
0.00% 0.00% 10.75% 34.21%

Bond Sector Breakdown

Weighting Return Low Return High KTXIX % Rank
Municipal
98.82% 44.39% 100.00% 42.69%
Derivative
0.00% -8.54% 23.38% 36.92%
Cash & Equivalents
0.00% 0.00% 48.02% 72.23%
Securitized
0.00% 0.00% 5.93% 35.25%
Corporate
0.00% 0.00% 9.41% 45.34%
Government
0.00% 0.00% 52.02% 40.23%

Bond Geographic Breakdown

Weighting Return Low Return High KTXIX % Rank
US
98.14% 0.00% 142.23% 57.67%
Non US
0.00% 0.00% 23.89% 41.82%

KTXIX - Expenses

Operational Fees

KTXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.01% 20.65% 46.52%
Management Fee 0.46% 0.00% 1.20% 67.10%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.44% 62.88%

Sales Fees

KTXIX 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

KTXIX 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.

KTXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 0.00% 283.00% 34.27%

KTXIX - Distributions

Dividend Yield Analysis

KTXIX Category Low Category High KTXIX % Rank
Dividend Yield 2.33% 0.00% 14.36% 81.84%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

KTXIX Category Low Category High KTXIX % Rank
Net Income Ratio 1.49% -0.53% 5.33% 72.08%

Capital Gain Distribution Analysis

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

Distributions History

View More +

KTXIX - Fund Manager Analysis

Managers

Brian Musielak


Start Date

Tenure

Tenure Rank

Dec 26, 2000

21.44

21.4%

Musielak, Senior Vice President, is a portfolio manager for Commerce Investment Advisors. He joined the investment management group of the firm in 1995 as a fixed income analyst. Prior to assuming these responsibilities, he worked in the commercial loan department as a credit analyst.

Brent Schowe


Start Date

Tenure

Tenure Rank

Mar 01, 2012

10.25

10.3%

Brent L. Schowe , CFA, Senior Vice President, Joined Commerce Investment Advisors, Inc. in 1999 and serve as Fund manager since 2012.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58