Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX)

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Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) is up 1.0% since the beginning of the year. APUSX is currently trading at $10 per share. Investors who bought $1,000 worth of APUSX shares 5 years ago would now be looking at an investment worth $1,111.

Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) has returned 1.00% so far this year and 2.33% over the past 12 months.

Based on dividend-adjusted daily data since Jan 2, 2020, APUSX's average daily return is +0.01%, while the average monthly return is +0.15%. At this rate, an investment would double in approximately 38.5 years.

Historically, 65% of months were positive and 35% were negative. The best month was Jul 2026 with a return of +11.8%, while the worst month was Jun 2026 at -10.4%. The longest winning streak lasted 37 consecutive months, and the longest losing streak was 5 months.

On a daily basis, APUSX closed higher 9% of trading days. The best single day was Jul 1, 2026 with a return of +11.8%, while the worst single day was Jun 30, 2026 at -10.4%.

Cavanal Hill Ultra Short Tax-Free Income Fund has an annualized alpha of 1.86%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 02, 2020.

• This fund participated in 9.55% of S&P 500 Index downside but only 7.62% of its upside - more exposed to losses than it benefited from rallies.
• Beta of -0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

APUSX has an expense ratio of 0.60%, placing it in the medium range.

APUSX ranks 19 for risk / return — in the bottom 19% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Cavanal Hill Ultra Short Tax-Free Income Fund provided a 2.40% dividend yield over the last twelve months, with an annual payout of $0.24 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Cavanal Hill Ultra Short Tax-Free Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Cavanal Hill Ultra Short Tax-Free Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Cavanal Hill Ultra Short Tax-Free Income Fund was 10.36%, occurring on Jun 30, 2026. Recovery took 1 trading session.

The chart below shows the rolling one-month volatility.