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Name

As of 04/17/2024

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

Aquila Narragansett Tax-Free Income Fund

NITFX | Fund

$10.02

$189 M

0.00%

0.88%

Vitals

YTD Return

-1.1%

1 yr return

1.1%

3 Yr Avg Return

-1.5%

5 Yr Avg Return

0.4%

Net Assets

$189 M

Holdings in Top 10

14.8%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.88%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 12.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

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

Aquila Narragansett Tax-Free Income Fund

NITFX | Fund

$10.02

$189 M

0.00%

0.88%

NITFX - Profile

Distributions

  • YTD Total Return -1.1%
  • 3 Yr Annualized Total Return -1.5%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.82%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Aquila Narragansett Tax-Free Income Fund
  • Fund Family Name
    Aquila Group of Funds
  • Inception Date
    Jul 25, 2014
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeffrey Hanna

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 Rhode Island state and regular Federal income taxes, the income paid upon which will not be subject to the Federal alternative minimum tax on individuals. In general, all or almost all of these obligations are issued by the State of Rhode Island, its counties and various other local authorities; these obligations may also include certain other governmental issuers. We call these “Rhode Island Obligations.” These securities may include participation or other interests in municipal securities and variable rate demand notes. Some Rhode Island Obligations, such as general obligation issues, are backed by the issuer’s taxing authority, while other Rhode Island Obligations, such as revenue bonds, are backed only by revenues from certain facilities or other sources and not by the issuer itself. 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 classified as a “non-diversified” investment company under the Investment Company Act of 1940 (the “1940 Act”), which means it may invest a greater percentage of its assets in a smaller number of issuers than a diversified fund.

At the time of purchase, the Fund’s Rhode Island Obligations must be of investment grade quality. This means that they must either

· be rated within the four highest credit ratings assigned by nationally recognized statistical rating organizations or,
· if unrated, be determined to be of comparable quality by the Fund’s Sub-Adviser, Clarfeld Financial Advisors, LLC, a wholly-owned subsidiary of Citizens Bank, N.A. (the “Sub-Adviser”).

The Sub-Adviser selects obligations for the Fund’s portfolio in order to achieve the Fund’s objective by considering various characteristics including quality, maturity and coupon rate.

Read More

NITFX - Performance

Return Ranking - Trailing

Period NITFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -4.4% 10.8% 77.90%
1 Yr 1.1% -5.7% 31.7% 87.68%
3 Yr -1.5%* -11.1% 2.5% 58.45%
5 Yr 0.4%* -5.9% 1102.0% 73.04%
10 Yr N/A* -0.4% 248.1% 51.37%

* Annualized

Return Ranking - Calendar

Period NITFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.1% -1.4% 41.0% 70.50%
2022 -9.1% -39.7% 0.3% 27.55%
2021 -1.3% -5.6% 6.9% 84.80%
2020 1.9% -2.6% 310.0% 40.43%
2019 3.3% 0.0% 26.0% 68.20%

Total Return Ranking - Trailing

Period NITFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -4.4% 10.8% 77.90%
1 Yr 1.1% -5.7% 31.7% 87.68%
3 Yr -1.5%* -11.1% 2.5% 58.45%
5 Yr 0.4%* -5.9% 1102.0% 73.04%
10 Yr N/A* -0.4% 248.1% 61.39%

* Annualized

Total Return Ranking - Calendar

Period NITFX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -1.3% 41.0% 82.52%
2022 -7.3% -39.7% 1.1% 29.60%
2021 0.8% -4.8% 23761504.0% 71.07%
2020 4.1% -1.5% 17057.9% 38.06%
2019 4.6% 0.2% 3514.6% 83.16%

NAV & Total Return History

NITFX - Holdings

Concentration Analysis

NITFX Category Low Category High NITFX % Rank
Net Assets 189 M 3.22 M 71.9 B 71.67%
Number of Holdings 165 2 13067 68.39%
Net Assets in Top 10 28.1 M -317 M 3.4 B 79.57%
Weighting of Top 10 14.76% 1.9% 100.4% 63.32%

Top 10 Holdings

  1. Rhode Island Health and Educational Building Corp 1.93%
  2. Providence Public Building Authority 1.90%
  3. Narragansett Bay Commission 1.67%
  4. Providence Public Building Authority 1.63%
  5. Rhode Island Health and Educational Building Corp 1.49%
  6. Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund 1.38%
  7. Rhode Island Health and Educational Building Corp 1.31%
  8. Town of Lincoln RI 1.18%
  9. Rhode Island Health and Educational Building Corp 1.13%
  10. Rhode Island Health and Educational Building Corp 1.13%

Asset Allocation

Weighting Return Low Return High NITFX % Rank
Bonds 		98.67% 0.00% 150.86% 49.03%
Cash 		1.33% -50.86% 50.09% 48.42%
Stocks 		0.00% 0.00% 99.81% 29.39%
Preferred Stocks 		0.00% 0.00% 0.52% 20.49%
Other 		0.00% -8.54% 33.35% 28.57%
Convertible Bonds 		0.00% 0.00% 0.93% 20.44%

Bond Sector Breakdown

Weighting Return Low Return High NITFX % Rank
Municipal 		98.44% 44.39% 100.00% 48.28%
Cash & Equivalents 		0.61% 0.00% 48.02% 37.10%
Corporate 		0.23% 0.00% 9.41% 8.89%
Derivative 		0.00% -8.54% 23.38% 25.53%
Securitized 		0.00% 0.00% 5.93% 22.19%
Government 		0.00% 0.00% 52.02% 27.45%

Bond Geographic Breakdown

Weighting Return Low Return High NITFX % Rank
US 		98.67% 0.00% 142.23% 46.41%
Non US 		0.00% 0.00% 23.89% 30.06%

NITFX - Expenses

Operational Fees

NITFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.88% 0.01% 20.65% 35.73%
Management Fee 0.50% 0.00% 1.20% 81.33%
12b-1 Fee 0.15% 0.00% 1.00% 24.21%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

NITFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 0.50% 4.75% 65.54%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

NITFX 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.

NITFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 283.00% 29.18%

NITFX - Distributions

Dividend Yield Analysis

NITFX Category Low Category High NITFX % Rank
Dividend Yield 0.00% 0.00% 14.56% 83.72%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NITFX Category Low Category High NITFX % Rank
Net Income Ratio 1.82% -0.53% 5.33% 57.13%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NITFX - Fund Manager Analysis

Managers

Jeffrey Hanna

Start Date

Tenure

Tenure Rank

Dec 31, 2000

21.43

21.4%

Mr. Hanna, a Senior Vice President of Citizens Investment Advisors, has served as the portfolio manager or co-portfolio manager. Hanna is an officer of Citizens Investment Advisors. He has held this position since 2005. Hanna is a vice president within Citizens Investment Advisors' Investment Management Services Group, has been with the company since 1988.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.37 1.58

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