Brown Advisory Tax Exempt Bond Fund (BIAEX)
The investment seeks to provide a high level of current income exempt from Federal income tax by investing primarily in intermediate-term investment grade municipal bonds. The fund normally will invest at least 80% of the fund's net assets (plus borrowings for investment purposes) in securities the interest of which is exempt from Federal income taxes and that do not subject shareholders to the federal alternative minimum tax ("AMT"). It may invest up to 20% of its assets in securities that may fully subject shareholders to Federal income tax, including the AMT.
Fund Info
| ISIN | US1152331088 |
|---|---|
| CUSIP | 115233108 |
| Issuer | Brown Advisory Funds |
| Inception Date | Jun 28, 2012 |
| Category | Municipal Bonds |
| Min. Investment | $100 |
| Asset Class | Bond |
Expense Ratio
The Brown Advisory Tax Exempt Bond Fund has a high expense ratio of 0.46%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Brown Advisory Tax Exempt Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Brown Advisory Tax Exempt Bond Fund had a return of -1.14% year-to-date (YTD) and 3.42% in the last 12 months. Over the past 10 years, Brown Advisory Tax Exempt Bond Fund had an annualized return of 2.05%, while the S&P 500 had an annualized return of 10.52%, indicating that Brown Advisory Tax Exempt Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -1.14% | 6.92% |
| 1 month | -1.28% | -2.83% |
| 6 months | 5.95% | 23.86% |
| 1 year | 3.42% | 23.33% |
| 5 years (annualized) | 1.14% | 11.66% |
| 10 years (annualized) | 2.05% | 10.52% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.30% | 0.21% | 0.23% | |||||||||
| 2023 | -1.74% | -1.20% | 4.64% | 2.51% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
Brown Advisory Tax Exempt Bond Fund(BIAEX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Brown Advisory Tax Exempt Bond Fund (BIAEX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Brown Advisory Tax Exempt Bond Fund granted a 4.00% dividend yield in the last twelve months. The annual payout for that period amounted to $0.37 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.36 | $0.27 | $0.31 | $0.26 | $0.17 | $0.32 | $0.31 | $0.28 | $0.20 | $0.20 | $0.16 |
Dividend yield | 4.00% | 3.82% | 2.99% | 2.96% | 2.55% | 1.65% | 3.27% | 3.08% | 2.81% | 2.00% | 1.95% | 1.65% |
Monthly Dividends
The table displays the monthly dividend distributions for Brown Advisory Tax Exempt Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | |||||||||
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.07 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2018 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2017 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2015 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2014 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.02 |
| 2013 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the Brown Advisory Tax Exempt Bond 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 Brown Advisory Tax Exempt Bond Fund was 12.86%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Brown Advisory Tax Exempt Bond Fund drawdown is 3.83%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -12.86% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -12.79% | Mar 2, 2020 | 15 | Mar 20, 2020 | 201 | Jan 6, 2021 | 216 |
| -4.24% | May 6, 2013 | 85 | Sep 4, 2013 | 164 | Apr 30, 2014 | 249 |
| -4.15% | Sep 2, 2016 | 63 | Dec 1, 2016 | 172 | Aug 9, 2017 | 235 |
| -2.17% | Feb 2, 2015 | 90 | Jun 10, 2015 | 129 | Dec 11, 2015 | 219 |
Volatility
Volatility Chart
The current Brown Advisory Tax Exempt Bond Fund volatility is 0.69%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.