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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$12.36

$319 M

2.07%

$0.26

0.49%

Vitals

YTD Return

2.5%

1 yr return

-4.4%

3 Yr Avg Return

-3.0%

5 Yr Avg Return

-1.0%

Net Assets

$319 M

Holdings in Top 10

20.1%

52 WEEK LOW AND HIGH

$12.4
$11.63
$12.98

Expenses

OPERATING FEES

Expense Ratio 0.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 24.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$12.36

$319 M

2.07%

$0.26

0.49%

WTAIX - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return -3.0%
  • 5 Yr Annualized Total Return -1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.78%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Wilmington Municipal Bond Fund
  • Fund Family Name
    Wilmington Funds
  • Inception Date
    Nov 01, 1993
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Malloy

Fund Description

Under normal circumstances, the Fund invests at least 80% of the value of its net assets in municipal securities that provide interest exempt from federal income tax. However, the income on these securities may be subject to the federal alternative minimum tax (“AMT”). The Fund may invest up to 20% of its assets in other types of fixed income securities that provide income that is subject to federal income tax. Additionally, the Fund may invest in exchange-traded funds (“ETFs”). The Fund generally invests in securities rated in the top four categories by a rating agency such as Moody’s Investors Service, Inc. (“Moody’s”) or Standard & Poor’s Corporation (“S&P”) or if unrated, determined by the investment advisor to be of comparable quality, but also may invest up to 10% of the Fund’s total assets in lower-rated debt securities (“junk bonds”). The Fund seeks to maintain a weighted average maturity of three to ten years. However, the Fund has no maturity restrictions on 
individual issues, and the weighted average maturity of the Fund’s portfolio will vary depending on market conditions. 
The Fund may invest more than 25% of its assets in securities relating to one political subdivision, such as any state or U.S. territory. The Fund may focus its investments in sectors of the municipal securities market, such as healthcare or housing. There are no limitations on the Fund’s investment in any one of the three general categories of municipal obligations: general obligation bonds, special revenue bonds and private activity bonds. 
In selecting securities, the Fund’s investment advisor focuses on credit analysis, the relative values of different sectors of the market, geographic diversity and securities with different and potentially advantageous structures. The investment advisor seeks to construct a portfolio with substantially the same interest rate exposure as the Fund’s benchmark, and does not select securities based on forecasts of interest rates. 
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WTAIX - Performance

Return Ranking - Trailing

Period WTAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -86.8% 7.5% 40.06%
1 Yr -4.4% -20.9% 15.7% 41.78%
3 Yr -3.0%* -10.2% 52.2% 58.14%
5 Yr -1.0%* -5.1% 29.7% 57.13%
10 Yr -1.0%* -3.2% 13.6% 57.74%

* Annualized

Return Ranking - Calendar

Period WTAIX Return Category Return Low Category Return High Rank in Category (%)
2022 -9.3% -91.1% 101.7% 43.34%
2021 -0.6% -79.2% 102.5% 77.37%
2020 0.3% -66.1% 60.0% 66.40%
2019 0.8% -57.4% 7.6% 71.04%
2018 -0.3% -35.9% 3.2% 20.71%

Total Return Ranking - Trailing

Period WTAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -86.8% 7.5% 40.13%
1 Yr -4.4% -20.9% 15.4% 42.35%
3 Yr -3.0%* -10.2% 52.2% 59.47%
5 Yr -1.0%* -5.1% 29.7% 60.85%
10 Yr -1.0%* -3.2% 13.6% 62.81%

* Annualized

Total Return Ranking - Calendar

Period WTAIX Return Category Return Low Category Return High Rank in Category (%)
2022 -9.3% -91.1% 101.7% 43.08%
2021 -0.6% -79.2% 102.5% 77.33%
2020 0.3% -66.1% 60.0% 66.37%
2019 0.8% -57.4% 7.6% 71.26%
2018 -0.3% -35.9% 3.2% 23.55%

NAV & Total Return History


WTAIX - Holdings

Concentration Analysis

WTAIX Category Low Category High WTAIX % Rank
Net Assets 319 M 2.87 M 73.9 B 57.24%
Number of Holdings 196 1 14000 48.21%
Net Assets in Top 10 64.8 M -317 M 8.64 B 40.05%
Weighting of Top 10 20.12% 2.4% 100.0% 51.46%

Top 10 Holdings

  1. Dreyfus Government Cash Mgmt Instl 3.50%
  2. METROPOLITAN PIER & EXPOSITION AUTH ILL HOSPITALITY FACS REV 7% 2.61%
  3. WHITING IND ENVIRONMENTAL FACS REV 5% 2.16%
  4. PHILADELPHIA PA WTR & WASTEWTR REV 5% 1.96%
  5. PHILADELPHIA PA WTR & WASTEWTR REV 5 1.96%
  6. CENTRAL PUGET SOUND WASH REGL TRAN AUTH SALES TAX & MOTOR VEHICLE EXCISE TA 1.95%
  7. CENTRAL PLAINS ENERGY PROJ NEB GAS SUPPLY REV 4% 1.87%
  8. MICHIGAN FIN AUTH REV 5% 1.71%
  9. CHICAGO ILL MET WTR RECLAMATION DIST GTR CHICAGO 5% 1.68%
  10. SALT LAKE CNTY UTAH HOSP REV 5.125% 1.66%

Asset Allocation

Weighting Return Low Return High WTAIX % Rank
Bonds
96.41% 0.00% 150.86% 80.74%
Cash
3.59% -50.86% 100.00% 18.55%
Stocks
0.00% -0.03% 4.63% 86.45%
Preferred Stocks
0.00% -1.79% 0.04% 85.67%
Other
0.00% -13.03% 30.01% 85.62%
Convertible Bonds
0.00% 0.00% 0.93% 86.08%

Bond Sector Breakdown

Weighting Return Low Return High WTAIX % Rank
Municipal
96.38% 0.00% 100.00% 78.14%
Cash & Equivalents
3.62% 0.00% 100.00% 20.09%
Derivative
0.00% 0.00% 21.68% 85.94%
Securitized
0.00% 0.00% 5.93% 86.49%
Corporate
0.00% 0.00% 9.99% 88.93%
Government
0.00% 0.00% 52.02% 87.48%

Bond Geographic Breakdown

Weighting Return Low Return High WTAIX % Rank
US
96.41% 0.00% 142.23% 61.95%
Non US
0.00% 0.00% 62.14% 97.01%

WTAIX - Expenses

Operational Fees

WTAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.49% 0.02% 3.60% 59.94%
Management Fee 0.45% 0.00% 1.10% 59.88%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% 10.07%

Sales Fees

WTAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.90% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

WTAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 58.96%

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.

WTAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.00% 0.00% 283.00% 71.47%

WTAIX - Distributions

Dividend Yield Analysis

WTAIX Category Low Category High WTAIX % Rank
Dividend Yield 2.07% 0.00% 35.27% 46.99%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

WTAIX Category Low Category High WTAIX % Rank
Net Income Ratio 1.78% -0.53% 24.00% 60.31%

Capital Gain Distribution Analysis

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

Distributions History

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WTAIX - Fund Manager Analysis

Managers

John Malloy


Start Date

Tenure

Tenure Rank

Nov 30, 2011

10.51

10.5%

John J. Malloy, Jr., Vice President and Senior Municipal Bond Portfolio Manager, is responsible for managing tax exempt assets. He uses key rate duration to provide the client’s portfolio with the interest rate exposure of the proper benchmark index. He also conducts continual yield curve and volatility analyses in order to maximize total return and minimize risk across his municipal fixed income portfolios. John joined Wilmington Trust in 2006, specializing in municipal bond trading and portfolio management. Earlier in his career, he was a senior fixed income trader at The Vanguard Group. He holds an MBA in Finance from Saint Joseph’s University and a bachelor’s degree in Business Administration from Arcadia University.

Daniel Scholl


Start Date

Tenure

Tenure Rank

Aug 31, 2019

2.75

2.8%

Dan Scholl, CFA is an Administrative Vice President and Head of Municipal Fixed Income for WTIA, leading the team responsible for municipal fixed income investing as part of WTIA’s Fixed Income Group. In this role he will lead the municipal group in portfolio management, credit surveillance and work in collaboration with the internal sales partners in the field. Dan brings more than 30 years’ experience in the fixed income and municipal markets, including leadership positions in asset management and the public sector. Prior to joining Wilmington Trust in 2019 he served as co-head of tax-exempt fixed income at Schroder Investment Management since 2003. As a member of the global fixed income investment and management committees, Dan was responsible for over $130B in assets. Previous roles include director and senior portfolio manager for municipal fixed income for Morgan Grenfell Asset management and Deutsche Asset Management. He holds a M.G.A from the University of Pennsylvania in Government Administration and a B.A. from Ursinus College in Political Science and Finance.

Jason Hannon


Start Date

Tenure

Tenure Rank

Aug 31, 2019

2.75

2.8%

Jason Hannon, CFA, is Vice President, Head of Municipal Strategy and Senior Portfolio Manager for WTIA . He plays a critical role in assessing market structure and guiding the risk measurement and research process. Most recently, Jason was a vice president at New York Private Bank & Trust/Emigrant Bank where he oversaw the municipal, MBS and treasury portfolios for separately managed accounts and the Bank’s Capital Markets Group. Previous roles include senior trader at Arbor Research & Trading and Vanguard. He holds a B.S. in Finance from the Pennsylvania State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.22 1.58