Morningstar Municipal Bond Fund
Name
As of 05/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.4%
1 yr return
3.5%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
1.7%
Net Assets
$333 M
Holdings in Top 10
8.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.68%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MSTPX - Profile
Distributions
- YTD Total Return 0.4%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 1.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.98%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMorningstar Municipal Bond Fund
-
Fund Family NameMorningstar
-
Inception DateNov 02, 2018
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Miller
Fund Description
MSTPX - Performance
Return Ranking - Trailing
Period | MSTPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -3.6% | 11.7% | 24.50% |
1 Yr | 3.5% | -4.6% | 33.3% | 22.24% |
3 Yr | -0.3%* | -11.1% | 2.6% | 18.70% |
5 Yr | 1.7%* | -6.2% | 1102.2% | 6.05% |
10 Yr | N/A* | -0.5% | 248.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | MSTPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.8% | -1.4% | 41.0% | 49.90% |
2022 | -9.1% | -39.7% | 0.3% | 27.97% |
2021 | -0.3% | -5.6% | 6.9% | 40.70% |
2020 | 2.1% | -2.6% | 310.0% | 32.18% |
2019 | 3.4% | 0.0% | 26.0% | 64.21% |
Total Return Ranking - Trailing
Period | MSTPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -3.6% | 11.7% | 24.50% |
1 Yr | 3.5% | -4.6% | 33.3% | 22.24% |
3 Yr | -0.3%* | -11.1% | 2.6% | 18.70% |
5 Yr | 1.7%* | -6.2% | 1102.2% | 6.05% |
10 Yr | N/A* | -0.5% | 248.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | MSTPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.6% | -1.3% | 41.0% | 51.53% |
2022 | -7.2% | -39.7% | 1.1% | 28.50% |
2021 | 1.3% | -4.8% | 23761504.0% | 56.64% |
2020 | 6.0% | -1.5% | 17057.9% | 6.52% |
2019 | 6.5% | 0.2% | 3514.6% | 50.14% |
NAV & Total Return History
MSTPX - Holdings
Concentration Analysis
MSTPX | Category Low | Category High | MSTPX % Rank | |
---|---|---|---|---|
Net Assets | 333 M | 3.22 M | 71.9 B | 57.80% |
Number of Holdings | 726 | 2 | 13067 | 15.40% |
Net Assets in Top 10 | 28.8 M | -317 M | 3.56 B | 78.82% |
Weighting of Top 10 | 8.67% | 2.0% | 100.2% | 88.04% |
Top 10 Holdings
- Northern Inst Fds TREAS PRT PRMR 2.18%
- Northern Inst Fds TREAS PRT PRMR 1.85%
- NY NYSHGR 5 03/15/2041 0.68%
- WA WAS 5 02/01/2040 0.66%
- AL BBEUTL 10/01/2052 0.64%
- SC CSRDEV 5 02/09/2024 0.60%
- CA BAYTRN 04/01/2056 0.59%
- MN STPHSG 5 07/01/2031 0.50%
- NY LSLPWR 09/01/2049 0.49%
- NY MONDEV 4 07/01/2050 0.47%
Asset Allocation
Weighting | Return Low | Return High | MSTPX % Rank | |
---|---|---|---|---|
Bonds | 95.21% | 0.00% | 150.86% | 86.30% |
Cash | 4.79% | -50.86% | 46.80% | 11.63% |
Stocks | 0.00% | 0.00% | 99.81% | 38.83% |
Preferred Stocks | 0.00% | 0.00% | 0.10% | 31.64% |
Other | 0.00% | -3.18% | 23.38% | 38.60% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 31.57% |
Bond Sector Breakdown
Weighting | Return Low | Return High | MSTPX % Rank | |
---|---|---|---|---|
Municipal | 94.82% | 44.39% | 100.00% | 82.91% |
Cash & Equivalents | 4.29% | 0.00% | 46.24% | 9.68% |
Derivative | 0.00% | -3.18% | 23.38% | 36.19% |
Securitized | 0.00% | 0.00% | 5.93% | 33.27% |
Corporate | 0.00% | 0.00% | 9.41% | 44.68% |
Government | 0.00% | 0.00% | 52.02% | 36.59% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MSTPX % Rank | |
---|---|---|---|---|
US | 95.21% | 0.00% | 142.23% | 83.24% |
Non US | 0.00% | 0.00% | 23.89% | 38.99% |
MSTPX - Expenses
Operational Fees
MSTPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.68% | 0.01% | 20.65% | 55.63% |
Management Fee | 0.44% | 0.00% | 1.20% | 53.18% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
MSTPX 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
MSTPX 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.
MSTPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 283.00% | 79.06% |
MSTPX - Distributions
Dividend Yield Analysis
MSTPX | Category Low | Category High | MSTPX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.39% | 0.00% | 14.51% | 43.44% |
Dividend Distribution Analysis
MSTPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
MSTPX | Category Low | Category High | MSTPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.98% | -0.53% | 5.33% | 48.13% |
Capital Gain Distribution Analysis
MSTPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.028 | OrdinaryDividend |
Mar 28, 2024 | $0.024 | OrdinaryDividend |
Feb 29, 2024 | $0.024 | OrdinaryDividend |
Jan 31, 2024 | $0.027 | OrdinaryDividend |
Dec 28, 2023 | $0.025 | OrdinaryDividend |
Nov 30, 2023 | $0.023 | OrdinaryDividend |
Oct 31, 2023 | $0.024 | OrdinaryDividend |
Sep 29, 2023 | $0.025 | OrdinaryDividend |
Aug 31, 2023 | $0.023 | OrdinaryDividend |
Jul 31, 2023 | $0.021 | OrdinaryDividend |
Jun 30, 2023 | $0.029 | OrdinaryDividend |
May 31, 2023 | $0.018 | OrdinaryDividend |
Apr 28, 2023 | $0.020 | OrdinaryDividend |
Mar 31, 2023 | $0.024 | OrdinaryDividend |
Feb 28, 2023 | $0.019 | OrdinaryDividend |
Jan 31, 2023 | $0.016 | OrdinaryDividend |
Dec 29, 2022 | $0.027 | OrdinaryDividend |
Nov 30, 2022 | $0.018 | OrdinaryDividend |
Oct 31, 2022 | $0.019 | OrdinaryDividend |
Sep 30, 2022 | $0.019 | OrdinaryDividend |
Aug 31, 2022 | $0.018 | OrdinaryDividend |
Jul 29, 2022 | $0.018 | OrdinaryDividend |
Jun 30, 2022 | $0.021 | OrdinaryDividend |
May 31, 2022 | $0.013 | OrdinaryDividend |
Apr 29, 2022 | $0.016 | OrdinaryDividend |
Mar 31, 2022 | $0.016 | OrdinaryDividend |
Feb 28, 2022 | $0.013 | OrdinaryDividend |
Jan 31, 2022 | $0.012 | OrdinaryDividend |
Dec 17, 2021 | $0.001 | CapitalGainShortTerm |
Dec 17, 2021 | $0.006 | CapitalGainLongTerm |
Nov 30, 2021 | $0.014 | OrdinaryDividend |
Oct 29, 2021 | $0.014 | OrdinaryDividend |
Sep 30, 2021 | $0.015 | OrdinaryDividend |
Aug 31, 2021 | $0.014 | OrdinaryDividend |
Jul 30, 2021 | $0.015 | OrdinaryDividend |
Jun 30, 2021 | $0.017 | OrdinaryDividend |
May 28, 2021 | $0.012 | OrdinaryDividend |
Apr 30, 2021 | $0.016 | OrdinaryDividend |
Mar 31, 2021 | $0.016 | OrdinaryDividend |
Feb 26, 2021 | $0.017 | OrdinaryDividend |
Jan 29, 2021 | $0.014 | OrdinaryDividend |
Dec 30, 2020 | $0.046 | OrdinaryDividend |
Nov 30, 2020 | $0.032 | OrdinaryDividend |
Oct 30, 2020 | $0.039 | OrdinaryDividend |
Sep 30, 2020 | $0.036 | OrdinaryDividend |
Aug 31, 2020 | $0.035 | OrdinaryDividend |
Jul 31, 2020 | $0.038 | OrdinaryDividend |
Jun 30, 2020 | $0.043 | OrdinaryDividend |
May 29, 2020 | $0.030 | OrdinaryDividend |
Apr 30, 2020 | $0.028 | OrdinaryDividend |
Mar 31, 2020 | $0.037 | OrdinaryDividend |
Feb 28, 2020 | $0.031 | OrdinaryDividend |
Jan 31, 2020 | $0.003 | OrdinaryDividend |
Dec 30, 2019 | $0.037 | OrdinaryDividend |
Dec 20, 2019 | $0.028 | CapitalGainShortTerm |
Nov 27, 2019 | $0.009 | OrdinaryDividend |
Oct 31, 2019 | $0.023 | OrdinaryDividend |
Sep 30, 2019 | $0.021 | OrdinaryDividend |
Aug 30, 2019 | $0.023 | OrdinaryDividend |
Jul 31, 2019 | $0.023 | OrdinaryDividend |
Jun 28, 2019 | $0.024 | OrdinaryDividend |
May 31, 2019 | $0.021 | OrdinaryDividend |
Apr 30, 2019 | $0.022 | OrdinaryDividend |
Mar 29, 2019 | $0.021 | OrdinaryDividend |
Feb 28, 2019 | $0.020 | OrdinaryDividend |
Jan 31, 2019 | $0.010 | OrdinaryDividend |
Dec 31, 2018 | $0.026 | OrdinaryDividend |
MSTPX - Fund Manager Analysis
Managers
Robert Miller
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Robert Miller is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments, where he manages mutual funds and separate accounts. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to joining WFAM, Robert worked for American Century Investments, where he was part of a team managing the firm’s municipal bond portfolios. Robert had direct responsibility for the firm’s national intermediate- and long-term investment-grade strategies. In addition, he managed several other state-specific funds for the firm. Robert also served as a member of its analytical team. Earlier, Robert was a municipal bond analyst with Moody’s Investors Service, where he served as an analyst in the States and High Profile Ratings Group as well as the Airport Credit Group, the Southeast Regional Ratings Group, and the Mid-Atlantic Regional Ratings Group. He also founded a small venture capital firm and served as a consultant with Black and Veatch and KPMG Peat Marwick, where he specialized in conducting financial feasibility studies in support of large infrastructure projects. Robert earned a bachelor’s degree in business administration with an emphasis in finance from San Jose State University and a master’s degree in business administration from the Leonard N. Stern School of Business at New York University.
Daniel McNeela
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Dan McNeela is a senior portfolio manager and co-head of target risk strategies with Morningstar Investment Management. McNeela is focused on portfolio construction, asset allocation, and manager due diligence. Prior to joining the investment management group in 2006, McNeela was associate director of mutual fund analysis for Morningstar, Inc. McNeela served as the editor of Morningstar’s flagship newsletter, Morningstar Mutual Funds and appeared before House and Senate subcommittees to testify as an investor advocate regarding the effectiveness of 529 college savings plans. He joined Morningstar in 2000 as a fund analyst with the individual investor group, specializing in domestic equity funds, with subspecialties in real estate and long-short funds and was the lead analyst on funds offered by Janus, Putnam, Royce and Goldman Sachs. Prior to Morningstar, he held a number of corporate finance positions at Scott Foresman, a leading educational publisher. McNeela holds a bachelor’s degree in finance from Indiana University and a master’s degree in business administration from the from the University of Illinois. McNeela also holds the Chartered Financial Analyst® designation.
Konstantine Mallas
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Dino Mallas is a portfolio manager in the Fixed Income Division. Mr. Mallas is president and chairman of its Investment Advisory Committee. He is also executive vice president and chairman of the Investment Advisory Committee. Mr. Mallas is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He joined the firm in 1986 as a broker in the Discount Brokerage Department and, in 1991, transferred to the Municipal Department. Mr. Mallas began his fixed income responsibilities as a fixed income specialist and later transitioned into trading intermediate- and long-term state and national portfolios. He assumed portfolio management responsibilities in 1999. Mr. Mallas earned a B.S. from American University and an M.B.A. from Loyola University Maryland.
James Murphy
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Mr. Murphy, who joined T. Rowe Price in 2000, is a Vice President of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc., and Portfolio Manager in the Fixed Income Division managing the firm's tax-free high-yield strategy. Mr. Murphy received a B.S. in finance from the University of Delaware and an M.B.A. in finance from Seton Hall University. He has also earned the Chartered Financial Analyst designation.
Terry Goode
Start Date
Tenure
Tenure Rank
Jun 01, 2019
3.0
3.0%
Terry Goode is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He is responsible for managing national and state-specific mutual funds, insurance accounts, and separate accounts. Terry joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before this, he served as head of the WFAM Tax-Exempt Research team, leading the group responsible for providing credit research to the Municipal Fixed Income team. Prior to joining WFAM, Terry performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services. He held a similar position with Wells Fargo Bank’s health care division. Terry earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the National Federation of Municipal Analysts and the Society of Municipal Analysts and served as former chair and member of the California Society of Municipal Analysts.
Bruce Johns
Start Date
Tenure
Tenure Rank
Jun 01, 2019
3.0
3.0%
Bruce Johns is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. In this capacity, he manages national short to intermediate maturity strategies and certain state-specific mutual funds. Bruce joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM from Strong Capital Management, where he was a senior research analyst covering the health care sector. Prior to taking on the role of research analyst at Strong, his area of responsibility included all fixed income settlements operations. He earned a bachelor’s degree in business and finance from the University of Wisconsin, Parkside. Bruce is a member of the National Federation of Municipal Analysts and the Minnesota Society of Municipal Analysts.
Nicholos Venditti
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Nicholos Venditti is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before joining WFAM, he was with Thornburg Investment Management as a portfolio manager and head of the municipal bond group. Earlier positions there include serving as a portfolio manager on seven mutual funds and separately managed accounts with total assets of approximately $10 billion. Prior to Thornburg, Nicholos held a variety of roles focused on municipal credit analysis at Financial Security Assurance/Assured Guaranty, where he began his investment industry career in 2007. He earned a bachelor’s degree in theoretical economics from Trinity University; a master’s degree in applied economics from the University of North Carolina, Greensboro, where he also served as an adjunct professor; and a master’s degree in finance from Syracuse University. He has earned the right to use the Chartered Financial Analyst® (CFA) designation.
Brandon Pae
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Mr. Pae joined Wells Capital Management Incorporated in 2012, where he currently serves as a Portfolio Manager.
Alfonzo Bruno
Start Date
Tenure
Tenure Rank
May 02, 2022
0.08
0.1%
Alfonzo Bruno is an associate portfolio manager with Morningstar’s Investment Management group. Along with the other Morningstar portfolios managers for the Funds, Bruno is responsible for subadviser selection and oversight, subadviser and exchange traded funds (ETFs) allocations, in addition to other portfolio management responsibilities. Bruno is also a member of Investment Management’s Global Asset Allocation team focusing on U.S. treasuries and agency mortgage-backed securities. Previously, Bruno was a manager research analyst at Morningstar, where he focused on fixed income manager research. Prior to joining Morningstar, Bruno was an investment analyst for the Illinois Municipal Retirement Fund where he focused on public markets portfolio and risk management. Bruno holds a bachelor’s degree in finance from the University of Iowa. Bruno is a CFA Charterholder. Bruno has served as a portfolio manager for the Funds since May 2022.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |