Elfun Tax Exempt Income Fund (ELFTX)
The fund invests primarily in investment-grade municipal obligations. At least 80% of the fund's income is exempt from both regular federal income taxes and the federal alternative minimum tax. It will have an effective duration of 75% to 125% of the duration of the Bloomberg Barclays Municipal Bond Index. The fund also may invest to a lesser extent in tax-free or taxable money market instruments and may hold cash.
Fund Info
| ISIN | US2862791041 |
|---|---|
| Issuer | State Street Global Advisors |
| Inception Date | Jan 1, 1980 |
| Category | Municipal Bonds |
| Min. Investment | $500 |
| Asset Class | Bond |
Expense Ratio
ELFTX has an expense ratio of 0.21%, which is considered low compared to other funds.
Share Price Chart
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Compare to other instruments
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Popular comparisons: ELFTX vs. VOHIX, ELFTX vs. VWAHX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Elfun Tax Exempt Income 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
Elfun Tax Exempt Income Fund had a return of 1.14% year-to-date (YTD) and 6.24% in the last 12 months. Over the past 10 years, Elfun Tax Exempt Income Fund had an annualized return of 2.08%, while the S&P 500 had an annualized return of 11.43%, indicating that Elfun Tax Exempt Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.14% | 25.82% |
| 1 month | -0.59% | 3.20% |
| 6 months | 1.27% | 14.94% |
| 1 year | 6.24% | 35.92% |
| 5 years (annualized) | 0.85% | 14.22% |
| 10 years (annualized) | 2.08% | 11.43% |
Monthly Returns
The table below presents the monthly returns of ELFTX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.18% | 0.02% | -0.16% | -1.06% | -0.26% | 1.44% | 0.84% | 0.54% | 1.00% | -1.67% | 1.14% | ||
| 2023 | 2.74% | -1.90% | 1.92% | -0.39% | -0.34% | 0.70% | 0.23% | -1.15% | -3.10% | -0.98% | 5.90% | 1.89% | 5.33% |
| 2022 | -2.53% | -0.55% | -2.80% | -2.99% | 1.47% | -1.51% | 1.94% | -1.78% | -3.21% | -0.68% | 4.21% | -0.39% | -8.72% |
| 2021 | 0.53% | -1.90% | 0.72% | 0.98% | 0.17% | 0.50% | 0.77% | -0.43% | -0.69% | -0.19% | 0.87% | 0.09% | 1.40% |
| 2020 | 1.61% | 1.40% | -3.51% | -1.71% | 3.19% | 0.82% | 1.62% | -0.50% | -0.05% | -0.31% | 1.68% | 0.62% | 4.79% |
| 2019 | 0.60% | 0.50% | 1.58% | 0.41% | 1.41% | 0.31% | 0.75% | 1.64% | -0.74% | 0.06% | 0.22% | 0.23% | 7.15% |
| 2018 | -0.87% | -0.37% | 0.34% | -0.46% | 1.06% | 0.07% | 0.26% | 0.07% | -0.55% | -0.47% | 0.88% | 0.97% | 0.92% |
| 2017 | 0.51% | 0.67% | 0.08% | 0.59% | 1.29% | -0.27% | 0.77% | 0.68% | -0.35% | 0.25% | -0.45% | 0.85% | 4.72% |
| 2016 | 1.17% | -0.02% | 0.41% | 0.65% | 0.32% | 1.74% | 0.08% | 0.07% | -0.51% | -0.92% | -3.31% | 0.85% | 0.44% |
| 2015 | 2.00% | -1.42% | 0.41% | -0.77% | -0.18% | -0.09% | 0.76% | 0.24% | 0.66% | 0.33% | 0.51% | 0.76% | 3.22% |
| 2014 | 2.02% | 1.10% | 0.43% | 1.20% | 1.54% | -0.00% | 0.09% | 1.53% | 0.08% | 0.76% | 0.08% | 0.66% | 9.88% |
| 2013 | 0.26% | 0.25% | -0.55% | 1.24% | -1.45% | -3.05% | -1.36% | -1.56% | 1.96% | 0.88% | -0.26% | -0.35% | -4.02% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of ELFTX is 29, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Elfun Tax Exempt Income Fund (ELFTX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Elfun Tax Exempt Income Fund provided a 3.65% dividend yield over the last twelve months, with an annual payout of $0.37 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.39 | $0.38 | $0.36 | $0.41 | $0.44 | $0.46 | $0.46 | $0.46 | $0.47 | $0.47 | $0.49 |
Dividend yield | 3.65% | 3.84% | 3.71% | 3.13% | 3.52% | 3.80% | 4.09% | 4.00% | 4.00% | 3.91% | 3.95% | 4.33% |
Monthly Dividends
The table displays the monthly dividend distributions for Elfun Tax Exempt Income 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 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.30 | |
| 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 | $0.39 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2020 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.41 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2017 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
Drawdowns
Drawdowns Chart
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Elfun Tax Exempt 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 Elfun Tax Exempt Income Fund was 14.59%, occurring on Oct 19, 1987. Recovery took 95 trading sessions.
The current Elfun Tax Exempt Income Fund drawdown is 3.11%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -14.59% | Dec 2, 1986 | 230 | Oct 19, 1987 | 95 | Feb 29, 1988 | 325 |
| -12.85% | Aug 5, 2021 | 311 | Oct 25, 2022 | — | — | — |
| -11.64% | Sep 12, 2008 | 25 | Oct 16, 2008 | 124 | Apr 16, 2009 | 149 |
| -11.25% | Feb 2, 1994 | 209 | Nov 21, 1994 | 103 | Apr 13, 1995 | 312 |
| -10.7% | Mar 10, 2020 | 9 | Mar 20, 2020 | 95 | Aug 5, 2020 | 104 |
Volatility
Volatility Chart
The current Elfun Tax Exempt Income Fund volatility is 1.90%, 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.