Guggenheim Municipal Income Fund (GIJAX)

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Guggenheim Municipal Income Fund (GIJAX) is up 1.8% since the beginning of the year. GIJAX is currently trading at $12 per share. Investors who bought $1,000 worth of GIJAX shares 5 years ago would now be looking at an investment worth $980.

Guggenheim Municipal Income Fund (GIJAX) has returned 1.77% so far this year and 8.01% over the past 12 months. Over the last ten years, GIJAX has returned 1.39% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 3, 2005, GIJAX's average daily return is 0.00%, while the average monthly return is +0.07%. At this rate, an investment would double in approximately 82.5 years.

Historically, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +9.9%, while the worst month was Sep 2008 at -14.4%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.

On a daily basis, GIJAX closed higher 44% of trading days. The best single day was Jul 6, 2010 with a return of +32.0%, while the worst single day was Jul 2, 2010 at -24.0%.

Guggenheim Municipal Income Fund has an annualized alpha of -1.83%, beta of 0.29, and R2 of 0.19 versus S&P 500 Index. Calculated based on daily prices since January 03, 2005.

• This fund participated in 49.16% of S&P 500 Index downside but only 26.17% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.29 may look defensive, but with R2 of 0.19 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 0.19 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.

GIJAX has an expense ratio of 0.79%, placing it in the medium range.

GIJAX ranks 84 for risk / return — in the top 84% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

Guggenheim Municipal Income Fund provided a 3.26% dividend yield over the last twelve months, with an annual payout of $0.38 per share.

The table displays the monthly dividend distributions for Guggenheim Municipal 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 Guggenheim Municipal 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 Guggenheim Municipal Income Fund was 58.74%, occurring on Mar 9, 2009. The portfolio has not yet recovered.

The current Guggenheim Municipal Income Fund drawdown is 3.57%.

The chart below shows the rolling one-month volatility.