Sit Minnesota Tax-Free Income Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.9%
1 yr return
9.0%
3 Yr Avg Return
-1.0%
5 Yr Avg Return
0.5%
Net Assets
$401 M
Holdings in Top 10
15.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.81%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 20.82%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SMTFX - Profile
Distributions
- YTD Total Return 3.9%
- 3 Yr Annualized Total Return -1.0%
- 5 Yr Annualized Total Return 0.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.50%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSit Minnesota Tax-Free Income Fund
-
Fund Family NameSit Mutual Funds
-
Inception DateDec 01, 1993
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Jungquist
Fund Description
SMTFX - Performance
Return Ranking - Trailing
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.9% | -5.0% | 26.7% | 2.60% |
1 Yr | 9.0% | 0.7% | 38.1% | 31.49% |
3 Yr | -1.0%* | -10.8% | 3.2% | 67.28% |
5 Yr | 0.5%* | -7.0% | 1102.9% | 65.76% |
10 Yr | 1.9%* | -0.9% | 248.6% | 32.73% |
* Annualized
Return Ranking - Calendar
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.1% | -1.4% | 41.0% | 94.39% |
2022 | -13.3% | -39.7% | 0.3% | 75.49% |
2021 | 0.1% | -5.6% | 6.9% | 25.09% |
2020 | 0.7% | -2.6% | 310.0% | 89.38% |
2019 | 3.7% | 0.0% | 26.0% | 54.10% |
Total Return Ranking - Trailing
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.9% | -5.0% | 26.7% | 2.60% |
1 Yr | 9.0% | 0.7% | 38.1% | 31.49% |
3 Yr | -1.0%* | -10.8% | 3.2% | 67.28% |
5 Yr | 0.5%* | -7.0% | 1102.9% | 65.76% |
10 Yr | 1.9%* | -0.9% | 248.6% | 32.73% |
* Annualized
Total Return Ranking - Calendar
Period | SMTFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.9% | -1.3% | 41.0% | 85.51% |
2022 | -10.4% | -39.7% | 1.1% | 65.20% |
2021 | 2.7% | -4.8% | 23761504.0% | 21.68% |
2020 | 3.8% | -1.5% | 17057.9% | 48.96% |
2019 | 6.7% | 0.2% | 3514.6% | 44.40% |
NAV & Total Return History
SMTFX - Holdings
Concentration Analysis
SMTFX | Category Low | Category High | SMTFX % Rank | |
---|---|---|---|---|
Net Assets | 401 M | 3.22 M | 71.9 B | 53.83% |
Number of Holdings | 284 | 4 | 13418 | 41.34% |
Net Assets in Top 10 | 61.4 M | -317 M | 3.09 B | 58.32% |
Weighting of Top 10 | 15.34% | 1.8% | 100.3% | 62.23% |
Top 10 Holdings
- White Bear Lake Independent School District No 624 2.27%
- City of Rochester MN 1.83%
- Minnesota Housing Finance Agency 1.76%
- Minnesota Housing Finance Agency 1.55%
- Minnesota Housing Finance Agency 1.48%
- City of Rochester MN 1.46%
- Minnesota Housing Finance Agency 1.40%
- Minnesota Housing Finance Agency 1.34%
- Housing Redevelopment Authority of The City of St Paul Minnesota 1.21%
- Minnesota Higher Education Facilities Authority 1.04%
Asset Allocation
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
Bonds | 94.76% | 0.00% | 150.86% | 90.69% |
Cash | 5.03% | -50.86% | 44.62% | 8.52% |
Stocks | 0.38% | 0.00% | 99.78% | 6.12% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 45.27% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 44.99% |
Other | -0.17% | -3.69% | 51.88% | 99.40% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 0.00% | N/A |
Technology | 0.00% | 0.00% | 0.00% | N/A |
Real Estate | 0.00% | 0.00% | 0.00% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 0.00% | N/A |
Financial Services | 0.00% | 0.00% | 0.00% | N/A |
Energy | 0.00% | 0.00% | 0.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 0.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
US | 0.38% | 0.00% | 99.78% | 6.13% |
Non US | 0.00% | -0.03% | 9.76% | 44.81% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
Municipal | 99.87% | 44.39% | 100.00% | 18.05% |
Cash & Equivalents | 0.00% | 0.00% | 44.41% | 75.63% |
Securitized | 0.00% | 0.00% | 5.93% | 45.92% |
Corporate | 0.00% | 0.00% | 9.41% | 54.34% |
Government | 0.00% | 0.00% | 52.02% | 49.06% |
Derivative | -0.17% | -3.69% | 51.88% | 99.47% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SMTFX % Rank | |
---|---|---|---|---|
US | 94.76% | 0.00% | 142.23% | 88.95% |
Non US | 0.00% | 0.00% | 23.89% | 47.27% |
SMTFX - Expenses
Operational Fees
SMTFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.81% | 0.01% | 8.02% | 41.77% |
Management Fee | 0.80% | 0.00% | 1.20% | 99.14% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
SMTFX 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
SMTFX 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.
SMTFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 20.82% | 0.00% | 283.00% | 61.03% |
SMTFX - Distributions
Dividend Yield Analysis
SMTFX | Category Low | Category High | SMTFX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.23% | 0.00% | 14.51% | 30.67% |
Dividend Distribution Analysis
SMTFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SMTFX | Category Low | Category High | SMTFX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.50% | -0.53% | 5.33% | 19.07% |
Capital Gain Distribution Analysis
SMTFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.026 | OrdinaryDividend |
Aug 30, 2024 | $0.025 | OrdinaryDividend |
Jul 31, 2024 | $0.027 | OrdinaryDividend |
Apr 30, 2024 | $0.025 | OrdinaryDividend |
Mar 28, 2024 | $0.025 | OrdinaryDividend |
Feb 29, 2024 | $0.024 | OrdinaryDividend |
Jan 31, 2024 | $0.027 | OrdinaryDividend |
Dec 29, 2023 | $0.024 | OrdinaryDividend |
Nov 30, 2023 | $0.024 | OrdinaryDividend |
Oct 31, 2023 | $0.026 | OrdinaryDividend |
Sep 29, 2023 | $0.023 | OrdinaryDividend |
Aug 31, 2023 | $0.024 | OrdinaryDividend |
Jul 31, 2023 | $0.024 | OrdinaryDividend |
May 31, 2023 | $0.026 | OrdinaryDividend |
Apr 28, 2023 | $0.023 | OrdinaryDividend |
Feb 28, 2023 | $0.021 | OrdinaryDividend |
Jan 31, 2023 | $0.024 | OrdinaryDividend |
Dec 30, 2022 | $0.022 | OrdinaryDividend |
Dec 15, 2022 | $0.025 | CapitalGainShortTerm |
Nov 30, 2022 | $0.023 | OrdinaryDividend |
Oct 31, 2022 | $0.023 | OrdinaryDividend |
Sep 30, 2022 | $0.022 | OrdinaryDividend |
Aug 31, 2022 | $0.024 | OrdinaryDividend |
Jul 29, 2022 | $0.021 | OrdinaryDividend |
Jun 30, 2022 | $0.023 | OrdinaryDividend |
May 31, 2022 | $0.024 | OrdinaryDividend |
Apr 29, 2022 | $0.022 | OrdinaryDividend |
Mar 31, 2022 | $0.023 | OrdinaryDividend |
Feb 28, 2022 | $0.021 | OrdinaryDividend |
Jan 31, 2022 | $0.022 | OrdinaryDividend |
Dec 31, 2021 | $0.022 | OrdinaryDividend |
Nov 30, 2021 | $0.023 | OrdinaryDividend |
Oct 29, 2021 | $0.021 | OrdinaryDividend |
Sep 30, 2021 | $0.021 | OrdinaryDividend |
Aug 31, 2021 | $0.023 | OrdinaryDividend |
Jun 30, 2021 | $0.024 | OrdinaryDividend |
May 28, 2021 | $0.021 | OrdinaryDividend |
Apr 30, 2021 | $0.023 | OrdinaryDividend |
Mar 31, 2021 | $0.026 | OrdinaryDividend |
Feb 26, 2021 | $0.022 | OrdinaryDividend |
Jan 29, 2021 | $0.023 | OrdinaryDividend |
Dec 31, 2020 | $0.024 | OrdinaryDividend |
Nov 30, 2020 | $0.024 | OrdinaryDividend |
Oct 30, 2020 | $0.024 | OrdinaryDividend |
Sep 30, 2020 | $0.024 | OrdinaryDividend |
Aug 31, 2020 | $0.025 | OrdinaryDividend |
Jul 31, 2020 | $0.026 | OrdinaryDividend |
Jun 30, 2020 | $0.027 | OrdinaryDividend |
May 29, 2020 | $0.024 | OrdinaryDividend |
Apr 30, 2020 | $0.030 | OrdinaryDividend |
Mar 31, 2020 | $0.027 | OrdinaryDividend |
Feb 28, 2020 | $0.023 | OrdinaryDividend |
Jan 31, 2020 | $0.025 | OrdinaryDividend |
Dec 31, 2019 | $0.026 | OrdinaryDividend |
Nov 29, 2019 | $0.023 | OrdinaryDividend |
Oct 31, 2019 | $0.025 | OrdinaryDividend |
Sep 30, 2019 | $0.025 | OrdinaryDividend |
Aug 30, 2019 | $0.024 | OrdinaryDividend |
Jul 31, 2019 | $0.027 | OrdinaryDividend |
SMTFX - Fund Manager Analysis
Managers
Paul Jungquist
Start Date
Tenure
Tenure Rank
Dec 31, 2000
21.43
21.4%
Paul J. Jungquist is Vice President of Sit Investment Associates, Inc. Jungquist joined Sit Investment Associates in January 1994 and has been a portfolio manager since 2000. Previously, he worked as an auditor for Grant Thornton and has served as an assistant controller for a publicly held engineering services company. Jungquist holds the Chartered Financial Analyst designation.
Todd Emerson
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Todd S. Emerson, Vice President and Portfolio Manager, has served as a portfolio manager since July 2020 and as a research analyst from August 2018 through July 2020.
Kevin O’Brien
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Kevin P. O’Brien, Vice President and Portfolio Manager, has served as a portfolio manager since July 2020 and as a research analyst from August 2018 through July 2020.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.35 | 1.58 |