Morningstar Municipal Bond Fund (MSTPX)
The fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in securities of municipal issuers within the United States and its territories, the income of which is exempt from U.S. taxation. The Advisor intends to invest primarily in investment-grade municipal securities. The fund may also invest in derivatives, including options, futures, swaps, and inverse floating-rate debt instruments (inverse floaters), for risk management purposes or as part of its investment strategies.
Fund Info
| ISIN | US6176975034 |
|---|---|
| Issuer | Morningstar |
| Inception Date | Nov 1, 2018 |
| Category | Municipal Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
MSTPX features an expense ratio of 0.58%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Morningstar Municipal 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
Morningstar Municipal Bond Fund had a return of 3.17% year-to-date (YTD) and 7.21% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 3.17% | 18.13% |
| 1 month | 0.98% | 1.45% |
| 6 months | 2.85% | 8.81% |
| 1 year | 7.21% | 26.52% |
| 5 years (annualized) | 1.85% | 13.43% |
| 10 years (annualized) | N/A | 10.88% |
Monthly Returns
The table below presents the monthly returns of MSTPX, 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 | -0.03% | 0.14% | 0.14% | -0.62% | 0.12% | 1.23% | 0.78% | 0.58% | 3.17% | ||||
| 2023 | 2.32% | -1.71% | 1.58% | 0.00% | -0.53% | 1.11% | -0.09% | -0.68% | -1.99% | -1.11% | 4.92% | 1.88% | 5.62% |
| 2022 | -2.04% | -0.54% | -2.24% | -2.11% | 1.04% | -1.38% | 2.00% | -1.81% | -2.95% | -0.64% | 3.47% | -0.03% | -7.19% |
| 2021 | 0.69% | -1.33% | 0.52% | 0.71% | 0.39% | 0.25% | 0.60% | -0.24% | -0.60% | -0.15% | 0.59% | 0.05% | 1.48% |
| 2020 | 1.45% | 1.41% | -3.92% | -1.66% | 3.16% | 1.37% | 1.69% | -0.05% | 0.15% | -0.01% | 1.53% | 0.90% | 5.99% |
| 2019 | 0.49% | 0.49% | 1.28% | 0.40% | 1.16% | 0.42% | 0.60% | 1.36% | -0.56% | 0.13% | 0.18% | 0.15% | 6.24% |
| 2018 | 1.00% | 1.05% | 2.06% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MSTPX is 71, 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 Morningstar Municipal Bond Fund (MSTPX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Morningstar Municipal Bond Fund granted a 3.06% dividend yield in the last twelve months. The annual payout for that period amounted to $0.31 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.27 | $0.21 | $0.19 | $0.40 | $0.28 | $0.03 |
Dividend yield | 3.06% | 2.67% | 2.15% | 1.75% | 3.69% | 2.67% | 0.25% |
Monthly Dividends
The table displays the monthly dividend distributions for Morningstar Municipal 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 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.00 | $0.21 | |||
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.27 |
| 2022 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.21 |
| 2021 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.03 | $0.19 |
| 2020 | $0.00 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.05 | $0.40 |
| 2019 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.07 | $0.28 |
| 2018 | $0.03 | $0.03 |
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 Morningstar Municipal 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 Morningstar Municipal Bond Fund was 10.91%, occurring on Oct 25, 2022. Recovery took 444 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -10.91% | Jul 29, 2021 | 314 | Oct 25, 2022 | 444 | Aug 2, 2024 | 758 |
| -10.07% | Mar 10, 2020 | 9 | Mar 20, 2020 | 92 | Jul 31, 2020 | 101 |
| -1.69% | Feb 17, 2021 | 8 | Feb 26, 2021 | 66 | Jun 2, 2021 | 74 |
| -1.19% | Aug 29, 2019 | 13 | Sep 17, 2019 | 75 | Jan 3, 2020 | 88 |
| -0.75% | Aug 13, 2020 | 11 | Aug 27, 2020 | 49 | Nov 5, 2020 | 60 |
Volatility
Volatility Chart
The current Morningstar Municipal Bond Fund volatility is 0.34%, 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.