Tributary Nebraska Tax-Free Fund (FONPX)

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Tributary Nebraska Tax-Free Fund (FONPX) is up 1.1% since the beginning of the year. FONPX is currently trading at $9 per share. Investors who bought $1,000 worth of FONPX shares 5 years ago would now be looking at an investment worth $1,054.

Tributary Nebraska Tax-Free Fund (FONPX) has returned 1.14% so far this year and 5.63% over the past 12 months. Over the last ten years, FONPX has returned 1.76% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 4, 2016, FONPX's average daily return is +0.01%, while the average monthly return is +0.16%. At this rate, an investment would double in approximately 36.1 years.

Historically, 63% of months were positive and 37% were negative. The best month was Nov 2023 with a return of +5.6%, while the worst month was Sep 2022 at -3.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FONPX closed higher 31% of trading days. The best single day was Mar 25, 2020 with a return of +3.3%, while the worst single day was Mar 20, 2020 at -2.8%.

Tributary Nebraska Tax-Free Fund has an annualized alpha of 1.63%, beta of 0.02, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.

• This fund participated in 15.44% of S&P 500 Index downside but only 11.48% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.02 may look defensive, but with R2 of 0.01 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 0.01 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.

FONPX has an expense ratio of 0.45%, placing it in the medium range.

FONPX ranks 68 for risk / return — better than 68% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Tributary Nebraska Tax-Free Fund provided a 2.62% dividend yield over the last twelve months, with an annual payout of $0.24 per share.

The table displays the monthly dividend distributions for Tributary Nebraska Tax-Free 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 Tributary Nebraska Tax-Free 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 Tributary Nebraska Tax-Free Fund was 10.92%, occurring on Oct 25, 2022. Recovery took 587 trading sessions.

The current Tributary Nebraska Tax-Free Fund drawdown is 0.58%.

The chart below shows the rolling one-month volatility.