MUISX: BMO Ultra Short Tax-Free I

Welcome to MutualFunds.com

Please help us personalize your experience and select the one that best describes you.

Your personalized experience is almost ready.

Join other Individual Investors receiving FREE personalized market updates and research. Join other Institutional Investors receiving FREE personalized market updates and research. Join other Financial Advisors receiving FREE personalized market updates and research.

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission

We hope you enjoy your experience

Channels

Find the latest content and information here about the 2019 Charles Schwab Impact Conference.

Advisors

Receive email updates about fund flows, news, upcoming CE accredited webcasts from industry thought leaders and more.

Content focused on helping financial advisors build successful client relationships and grow their business.

Content geared towards helping financial advisors build better client portfolios.

Get insights on the industry trends and investment news from leading fund managers and experts.

MUISX BMO Ultra Short Tax-Free I


Profile

MUISX - Profile

Vitals

  • YTD Return 0.2%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return 0.0%
  • Net Assets $582 M
  • Holdings in Top 10 14.8%

52 WEEK LOW AND HIGH

$10.10
$10.07
$10.10

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.37%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 155.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.66%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BMO Ultra Short Tax-Free Fund
  • Fund Family Name
    BMO Funds
  • Inception Date
    Sep 30, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Wimmel

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax (including the federal alternative minimum tax (AMT)). It normally maintains an average dollar-weighted effective maturity of one year or less. Effective maturity takes into account the possibility that a bond may have prepayments or may be called by the issuer before its stated maturity date.


Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.


Categories

Performance

MUISX - Performance

Return Ranking - Trailing

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -1.5% 8.9% 96.67%
1 Yr 0.3% -2.3% 23.6% 98.84%
3 Yr 0.1%* -2.8% 5.8% 90.95%
5 Yr 0.0%* -2.7% 12.4% 75.44%
10 Yr 0.1%* -5.1% 3.9% 80.44%

* Annualized

Return Ranking - Calendar

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
2019 0.2% -1.7% 18.3% 99.49%
2018 0.0% -11.7% 4.6% 2.05%
2017 0.1% -4.4% 8.3% 79.18%
2016 -0.1% -7.8% 7.7% 43.16%
2015 -0.3% -18.3% 3.0% 24.84%

Total Return Ranking - Trailing

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -1.5% 8.9% 96.67%
1 Yr 0.3% -2.3% 23.6% 98.91%
3 Yr 0.1%* -2.8% 7.9% 92.22%
5 Yr 0.0%* -2.7% 12.4% 76.64%
10 Yr 0.1%* -1.4% 7.1% 86.14%

* Annualized

Total Return Ranking - Calendar

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
2019 0.2% -1.7% 18.3% 99.49%
2018 0.0% -11.7% 6.5% 7.20%
2017 0.2% -4.4% 10.4% 81.74%
2016 0.0% -7.8% 10.7% 45.22%
2015 -0.2% -12.6% 4.2% 29.88%

NAV & Total Return History


Holdings

MUISX - Holdings

Concentration Analysis

MUISX Category Low Category High MUISX % Rank
Net Assets 582 M 690 K 259 B 51.18%
Number of Holdings 236 1 17668 57.19%
Net Assets in Top 10 83.6 M -216 M 21.4 B 58.15%
Weighting of Top 10 14.79% 2.5% 100.0% 69.68%

Top 10 Holdings

  1. NATIONAL FIN AUTH N H EXEMPT FACS REV 2% 2.48%
  2. HEALTH CARE AUTH FOR BAPTIST HEALTH ALA 1.96% 1.97%
  3. FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 1.9% 1.77%
  4. ILLINOIS FIN AUTH REV 1.72% 1.42%
  5. NEW YORK N Y 1.75% 1.42%
  6. ARKANSAS DEV FIN AUTH HEALTH CARE REV 1.97% 1.24%
  7. MISSION TEX ECONOMIC DEV CORP SOLID WASTE DISP REV 2.5% 1.15%
  8. TENDER OPT BD TR RCPTS / CTFS VAR STS 1.96% 1.15%
  9. ILLINOIS ST 5% 1.13%
  10. PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV 2% 1.07%

Asset Allocation

Weighting Return Low Return High MUISX % Rank
Bonds
92.67% 80.02% 159.74% 84.16%
Cash
7.33% -59.74% 19.63% 11.12%
Stocks
0.00% -0.98% 25.43% 72.57%
Preferred Stocks
0.00% 0.00% 7.43% 75.36%
Other
0.00% -8.60% 31.85% 72.89%
Convertible Bonds
0.00% 0.00% 7.23% 83.08%

Bond Sector Breakdown

Weighting Return Low Return High MUISX % Rank
Municipal
92.67% 0.00% 100.11% 41.38%
Cash & Equivalents
7.33% -29.57% 21.18% 11.91%
Derivative
0.00% -0.83% 22.35% 74.46%
Securitized
0.00% 0.00% 98.40% 85.77%
Corporate
0.00% 0.00% 99.62% 87.63%
Government
0.00% -2.21% 122.41% 86.98%

Bond Geographic Breakdown

Weighting Return Low Return High MUISX % Rank
US
92.67% 58.28% 156.78% 51.39%
Non US
0.00% -12.34% 26.76% 95.03%

Expenses

MUISX - Expenses

Operational Fees

MUISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.37% 0.01% 38.00% 91.88%
Management Fee 0.17% 0.00% 1.10% 6.72%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.00% 0.50% 81.75%

Sales Fees

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

Trading Fees

MUISX 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.

MUISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 155.00% 0.00% 489.00% 88.14%

Distributions

MUISX - Distributions

Dividend Yield Analysis

MUISX Category Low Category High MUISX % Rank
Dividend Yield 0.29% 0.00% 3.18% 69.99%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MUISX Category Low Category High MUISX % Rank
Net Income Ratio 1.66% 0.00% 6.30% 89.00%

Capital Gain Distribution Analysis

MUISX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Semi-Annually

Dividend Payout History

View More +

Fund Manager Analysis

MUISX - Fund Manager Analysis

Managers

Robert Wimmel


Start Date

Tenure

Tenure Rank

Aug 25, 2015

4.44

4.4%

Rob is the head of Tax-Exempt Fixed Income at BMO Global Asset Management. Rob began his career in the investment industry in 1992 and joined BMO Global Asset Management in 2015. Previously, Rob was head of investment-grade municipals at Invesco from 1996 to 2015. Rob holds an M.A. in economics from the University of Illinois at Chicago and a B.A. in anthropology cum laude from the University of Cincinnati.

Thomas Byron


Start Date

Tenure

Tenure Rank

Oct 13, 2015

4.3

4.3%

Tom is a senior portfolio manager on the BMO Tax-Exempt Fixed Income Team. Before joining BMO Global Asset Management in 2015, Tom was a senior portfolio manager at Invesco. He began his career in the investment industry as a unit trust administrator for Invesco in 1981. Tom holds an M.B.A. in finance from DePaul University and a B.S. in finance from Marquette University.

Brian Sipich


Start Date

Tenure

Tenure Rank

Oct 04, 2016

3.33

3.3%

Mr. Sipich joined BMO Asset Management Corp in 2015 where he serves as a Vice President and Portfolio Manager. Previously, Mr. Sipich was a quantitative analyst at Invesco Advisers and held various positions there since 2008. He is a CFA Charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 33.19 7.42 0.08