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Name

As of 04/23/2024

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

Touchstone Core Municipal Bond Fund

TOHAX | Fund

$10.72

$51 M

2.82%

$0.30

1.05%

Vitals

YTD Return

-1.0%

1 yr return

2.0%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

0.8%

Net Assets

$51 M

Holdings in Top 10

14.5%

52 WEEK LOW AND HIGH

$10.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load 3.25%

Deferred Load N/A

TRADING FEES

Turnover 21.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

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

Touchstone Core Municipal Bond Fund

TOHAX | Fund

$10.72

$51 M

2.82%

$0.30

1.05%

TOHAX - Profile

Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.35%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Touchstone Core Municipal Bond Fund
  • Fund Family Name
    Touchstone Funds
  • Inception Date
    Apr 02, 1997
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Thomas Urano

Fund Description

Under normal circumstances, the Fund seeks to achieve its investment goal by investing its assets primarily in high-quality, municipal debt, including general obligation bonds, revenue bonds, and pre-refunded municipal bonds. This includes, but is not limited to, municipal bonds that are issued by U.S. states and their subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) that pay interest that is exempt from regular federal personal income tax. High-quality municipal debt is, for purposes of the Fund, considered to be debt with an underlying credit rating of investment grade (Baa3) or higher by Moody’s Investor Service, Inc. (“Moody’s”), or equivalently rated by S&P Global Ratings (“S&P”) or Fitch Ratings, Inc. (“Fitch”), or, if unrated, determined by the sub-adviser to be of comparable quality.The Fund has adopted a fundamental investment policy that under normal circumstances at least 80% of the income it distributes will be exempt from federal income tax, including the federal alternative minimum tax. This fundamental policy may not be changed without the approval of the Fund’s shareholders.In managing the Fund’s portfolio, Sage Advisory Services, Ltd. Co. (“Sage” or the “sub-adviser”), the Fund’s sub-adviser, seeks to exploit market inefficiencies using its income, price, and volatility framework:•Income: Sage seeks to construct portfolios that generate consistent tax-free income by capturing diversified sources of credit, liquidity, and term premiums.•Price: Sage seeks to control price sensitivity at the portfolio level by managing duration and yield curve positioning.•Volatility: During periods when the price of bonds decline because of economic uncertainty or market stress, Sage seeks to identify and purchase bonds that are priced attractively relative to historical averages. Sage will add positions in a risk-controlled manner, meaning the bond is well-supported by Sage’s outlook and the risk associated with purchasing the bond is carefully considered along with the benefits including yield and the potential for the price to increase.The Fund may invest in bonds of any maturity. The average duration of the Fund will vary based on the sub-adviser’s forecast for interest rates and will normally be within 25% (plus/minus) of the Bloomberg Municipal Bond Index. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates.Throughout the investment process, Sage analyzes each municipal issue for various environmental, social and governance (“ESG”) criteria. For this analysis, Sage uses a proprietary ESG framework to evaluate and score (the “Sage ESG Leaf Score”) municipal projects for both their project impact and impact intensity and related controversies. The Fund does not have a minimum scoring threshold of their ESG framework for inclusion in the Fund, however, this analysis is used to evaluate the fundamental health and long-term credit risk of each issuer. The Fund may invest in a security that scores poorly on ESG criteria if the security scores highly on other factors such as valuation and strong fundamental health.
Read More

TOHAX - Performance

Return Ranking - Trailing

Period TOHAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -4.7% 11.1% 70.80%
1 Yr 2.0% -3.8% 33.8% 74.94%
3 Yr -1.4%* -11.3% 2.6% 51.13%
5 Yr 0.8%* -6.1% 1102.0% 51.11%
10 Yr 1.9%* -0.5% 248.1% 41.18%

* Annualized

Return Ranking - Calendar

Period TOHAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -1.4% 41.0% 47.30%
2022 -10.3% -39.7% 0.3% 38.59%
2021 -0.8% -5.6% 6.9% 63.08%
2020 2.1% -2.6% 310.0% 29.53%
2019 3.5% 0.0% 26.0% 63.30%

Total Return Ranking - Trailing

Period TOHAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -4.7% 11.1% 70.80%
1 Yr 2.0% -3.8% 33.8% 74.94%
3 Yr -1.4%* -11.3% 2.6% 51.13%
5 Yr 0.8%* -6.1% 1102.0% 51.11%
10 Yr 1.9%* -0.5% 248.1% 41.18%

* Annualized

Total Return Ranking - Calendar

Period TOHAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -1.3% 41.0% 49.25%
2022 -8.6% -39.7% 1.1% 42.08%
2021 1.4% -4.8% 23761504.0% 53.59%
2020 4.3% -1.5% 17057.9% 32.59%
2019 6.5% 0.2% 3514.6% 50.07%

NAV & Total Return History

TOHAX - Holdings

Concentration Analysis

TOHAX Category Low Category High TOHAX % Rank
Net Assets 51 M 3.22 M 71.9 B 93.52%
Number of Holdings 94 2 13067 87.06%
Net Assets in Top 10 7.38 M -317 M 3.4 B 95.86%
Weighting of Top 10 14.46% 1.9% 100.4% 65.87%

Top 10 Holdings

  1. OH TOL 4 12/01/2035 2.06%
  2. OH HAMDEV 5 06/01/2033 2.01%
  3. AL DEKWTR 5 07/01/2032 1.52%
  4. IL ILSTRN 5 01/01/2046 1.46%
  5. WI MLW 5 04/01/2029 1.32%
  6. TX WCFSCD 4 02/01/2026 1.31%
  7. FL WALEDU 5 07/01/2025 1.24%
  8. PA SOWUTL 4 02/15/2037 1.20%
  9. TX MNTDEV 5 09/01/2026 1.18%
  10. KY KYSPWR 4 02/01/2030 1.18%

Asset Allocation

Weighting Return Low Return High TOHAX % Rank
Bonds 		98.21% 0.00% 150.86% 56.92%
Cash 		1.79% -50.86% 50.09% 40.13%
Stocks 		0.00% 0.00% 99.81% 40.69%
Preferred Stocks 		0.00% 0.00% 0.52% 33.59%
Other 		0.00% -3.18% 33.35% 39.61%
Convertible Bonds 		0.00% 0.00% 0.93% 33.53%

Bond Sector Breakdown

Weighting Return Low Return High TOHAX % Rank
Municipal 		90.88% 44.39% 100.00% 92.46%
Cash & Equivalents 		0.82% 0.00% 48.02% 31.26%
Derivative 		0.00% -3.18% 23.38% 37.22%
Securitized 		0.00% 0.00% 5.93% 35.35%
Corporate 		0.00% 0.00% 9.41% 45.29%
Government 		0.00% 0.00% 52.02% 39.83%

Bond Geographic Breakdown

Weighting Return Low Return High TOHAX % Rank
US 		98.21% 0.00% 142.23% 54.17%
Non US 		0.00% 0.00% 23.89% 39.87%

TOHAX - Expenses

Operational Fees

TOHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.01% 20.65% 27.87%
Management Fee 0.40% 0.00% 1.20% 39.97%
12b-1 Fee 0.25% 0.00% 1.00% 44.24%
Administrative Fee 0.15% 0.01% 0.44% 49.49%

Sales Fees

TOHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.25% 0.50% 4.75% 57.63%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

TOHAX 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.

TOHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 21.00% 0.00% 283.00% 61.86%

TOHAX - Distributions

Dividend Yield Analysis

TOHAX Category Low Category High TOHAX % Rank
Dividend Yield 2.82% 0.00% 14.56% 60.09%

Dividend Distribution Analysis

TOHAX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

TOHAX Category Low Category High TOHAX % Rank
Net Income Ratio 2.35% -0.53% 5.33% 27.37%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TOHAX - Fund Manager Analysis

Managers

Thomas Urano

Start Date

Tenure

Tenure Rank

Oct 28, 2021

0.59

0.6%

Thomas is a principal of the firm and a member of the investment committee. He serves as a portfolio manager and senior trader for the taxable fixed income and equity strategies. Thomas received his B.A. in Economics from The University of Texas and is a Chartered Financial Analyst. Before joining Sage, he was a Fixed Income Trader with Credit Suisse Asset Management in New York. He was also a former Fixed Income Portfolio Accountant for Morgan Keegan. Thomas brings over 15 years of experience in client account management and fixed income trading to the firm and is a member of the CFA Institute.Thomas is a principal of the firm and a member of the investment committee. He serves as a portfolio manager and senior trader for the taxable fixed income and equity strategies. Thomas received his B.A. in Economics from The University of Texas and is a Chartered Financial Analyst. Before joining Sage, he was a Fixed Income Trader with Credit Suisse Asset Management in New York. He was also a former Fixed Income Portfolio Accountant for Morgan Keegan. Thomas brings over 15 years of experience in client account management and fixed income trading to the firm and is a member of the CFA Institute.

Robert Smith

Start Date

Tenure

Tenure Rank

Oct 28, 2021

0.59

0.6%

Bob began his career at Moody's Investors Service as a member of the Corporate Bond Rating Committee; he then went on to Loeb, Rhodes & Co. to cover the insurance industry in the Institutional Equity Research department. He then worked at Merrill Lynch & Co. for 13 years in a variety of institutional research, trading and portfolio management roles in New York and London. During this period, he was assigned to the Saudi Arabian Monetary Agency as a Resident Financial Advisor in Riyadh responsible for managing the foreign reserves of the Central Bank.

Jeffrey Timlin

Start Date

Tenure

Tenure Rank

Oct 28, 2021

0.59

0.6%

Jeff is a Principal and Managing Director of the firm and a member of the Investment Committee. He serves as a Portfolio Manager for the tax-exempt fixed income strategies. He began his career in 1997 as a Fixed Income Associate Trader with MFS Investment Management in Boston. He was also a former Client Account Manager with Brown Brothers Harriman & Co. in Boston. Jeff received his B.S. in Business Administration from Villanova University, is a Chartered Financial Analyst (CFA) and member of the CFA Institute, and is a Chartered Market Technician (CMT). He is also a member of the Market Technicians Association, the National Federation of Municipal Analysts and the Southern Municipal Finance Society.

Tenure Analysis

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

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