STRIX: Wells Fargo Strategic Municipal Bd Inst

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STRIX Wells Fargo Strategic Municipal Bd Inst


Profile

STRIX - Profile

Vitals

  • YTD Return -1.2%
  • 3 Yr Annualized Return 0.4%
  • 5 Yr Annualized Return 0.4%
  • Net Assets $2.45 B
  • Holdings in Top 10 9.6%

52 WEEK LOW AND HIGH

$9.07
$8.58
$9.33

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.47%

SALES FEES

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

BROKERAGE FEES

  • Turnover 29.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 0.4%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.32%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Wells Fargo Strategic Municipal Bond Fund
  • Fund Family Name
    Wells Fargo Funds
  • Inception Date
    Nov 30, 2012
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Miller

Fund Description

The fund normally invests at least 80% of the fund's net assets in municipal securities whose interest is exempt from regular federal income tax, but not necessarily the federal alternative minimum tax (AMT). It invests up to 35% of the fund's total assets in below investment-grade municipal securities. The fund invests principally in municipal securities of states, territories and possessions of the United States whose interest is exempt from regular federal income tax, but not necessarily federal AMT.


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Categories

Fund Company Quick Screens

STRIX - Fund Company Quick Screens


Performance

STRIX - Performance

Return Ranking - Trailing

Period STRIX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -31.4% 945.6% 75.04%
1 Yr -0.4% -25.1% 973.3% 78.19%
3 Yr 0.4%* -10.1% 120.4% 53.27%
5 Yr 0.4%* -5.3% 60.3% 42.57%
10 Yr N/A* -5.2% 3.6% 10.79%

* Annualized

Return Ranking - Calendar

Period STRIX Return Category Return Low Category Return High Rank in Category (%)
2019 2.5% -1.7% 18.3% 77.60%
2018 0.2% -12.4% 0.8% 0.39%
2017 1.1% -6.0% 20.3% 49.40%
2016 -1.6% -7.8% 8.6% 58.72%
2015 -0.1% -18.3% 3.0% 18.40%

Total Return Ranking - Trailing

Period STRIX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -31.4% 945.6% 75.04%
1 Yr -0.4% -25.1% 973.3% 78.26%
3 Yr 0.4%* -7.5% 120.4% 57.77%
5 Yr 0.4%* -5.3% 60.3% 51.04%
10 Yr N/A* -5.1% 6.7% 10.79%

* Annualized

Total Return Ranking - Calendar

Period STRIX Return Category Return Low Category Return High Rank in Category (%)
2019 2.5% -1.7% 18.3% 77.67%
2018 0.2% -11.7% 3.1% 4.78%
2017 1.1% -6.0% 27.0% 57.61%
2016 -1.6% -7.8% 10.7% 61.55%
2015 -0.1% -14.2% 4.2% 26.65%

NAV & Total Return History


Holdings

STRIX - Holdings

Concentration Analysis

STRIX Category Low Category High STRIX % Rank
Net Assets 2.45 B 634 K 264 B 22.92%
Number of Holdings 720 1 17920 22.78%
Net Assets in Top 10 244 M -587 M 20.8 B 32.19%
Weighting of Top 10 9.64% 2.3% 100.0% 87.88%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High STRIX % Rank
Bonds
98.93% 71.08% 159.74% 29.23%
Cash
1.07% -59.74% 27.48% 61.81%
Stocks
0.00% -0.38% 18.10% 76.45%
Preferred Stocks
0.00% 0.00% 9.11% 62.94%
Other
0.00% -27.60% 31.83% 59.17%
Convertible Bonds
0.00% 0.00% 7.31% 76.69%

Bond Sector Breakdown

Weighting Return Low Return High STRIX % Rank
Municipal
98.65% 0.00% 100.11% 23.41%
Cash & Equivalents
1.06% -26.49% 24.02% 70.17%
Corporate
0.29% 0.00% 99.41% 55.92%
Derivative
0.00% -0.83% 31.72% 61.60%
Securitized
0.00% 0.00% 98.72% 79.76%
Government
0.00% -2.21% 100.00% 81.52%

Bond Geographic Breakdown

Weighting Return Low Return High STRIX % Rank
US
98.89% 58.40% 156.78% 16.61%
Non US
0.04% -38.91% 29.50% 81.91%

Expenses

STRIX - Expenses

Operational Fees

STRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.47% 0.01% 34.57% 83.15%
Management Fee 0.37% 0.00% 1.25% 45.36%
12b-1 Fee 0.00% 0.00% 1.00% 12.36%
Administrative Fee 0.08% 0.00% 0.50% 40.92%

Sales Fees

STRIX 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

STRIX 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.

STRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% 0.00% 489.00% 39.16%

Distributions

STRIX - Distributions

Dividend Yield Analysis

STRIX Category Low Category High STRIX % Rank
Dividend Yield 0.00% 0.00% 6.20% 80.04%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

STRIX Category Low Category High STRIX % Rank
Net Income Ratio 2.32% -0.71% 6.02% 63.86%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

STRIX - Fund Manager Analysis

Managers

Robert Miller


Start Date

Tenure

Tenure Rank

Oct 01, 2010

9.59

9.6%

Robert Miller is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team, where he manages both mutual funds and separate accounts. Prior to joining WFAM in 2008, Robert worked for American Century Investments for 10 years where he was part of 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 spent eight years in New York as 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 a concentration 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.

Wendy Casetta


Start Date

Tenure

Tenure Rank

Oct 01, 2010

9.59

9.6%

Wendy Casetta is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team. She joined Wells Fargo Asset Management (WFAM) from Strong Capital Management where she held a similar position. Prior to joining Strong, Wendy was a fixed income trader and investment associate at Barnett Capital Advisors in Jacksonville, FL. She began her investment industry career in 1993 as a registered representative at the Nicholas Company in Milwaukee, WI. Wendy earned a bachelor’s degree in finance from the University of Wisconsin, Oshkosh, and a master’s degree in business administration from the University of North Florida, Jacksonville.

Terry Goode


Start Date

Tenure

Tenure Rank

Mar 28, 2019

1.09

1.1%

Terry Goode is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team, where he manages California, Arizona, Colorado, and Oregon funds and separate accounts. Previously, Terry served as the leader of the WFAM Tax-Exempt Research team, where he managed a group of professionals who provide credit research for the Municipal Fixed Income team. He also specialized in directly covering a number of municipal sectors. Prior to joining WFAM in 2002, he performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services, focusing on health care, education and nonprofit sectors. He began his investment industry career in 1995 when he held a similar position with Wells Fargo Bank’s health care division, analyzing the credit quality for a variety of nonprofit and corporate health care organizations. He 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 California Society of Municipal Analysts, the National Federation of Municipal Analysts and the Healthcare Financial Management Association. His industry comments can often be found in The Bond Buyer.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.44 7.42 0.33