- ISIN
- US6176975034
- Issuer
- Morningstar
- Inception Date
- Nov 1, 2018
- Category
- Municipal Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
MSTPX Performance Chart
Morningstar Municipal Bond Fund (MSTPX) is up 1.5% since the beginning of the year. MSTPX is currently trading at $10 per share. Investors who bought $1,000 worth of MSTPX shares 5 years ago would now be looking at an investment worth $1,047.
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Returns By Period
Morningstar Municipal Bond Fund (MSTPX) has returned 1.48% so far this year and 4.79% over the past 12 months.
Morningstar Municipal Bond Fund
- 1D
- 0.10%
- 1M
- 1.41%
- YTD
- 1.48%
- 6M
- 1.65%
- 1Y
- 4.79%
- 3Y*
- 3.26%
- 5Y*
- 0.92%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MSTPX Monthly Returns History
Based on dividend-adjusted daily data since Nov 5, 2018, MSTPX's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2023 with a return of +4.9%, while the worst month was Mar 2020 at -3.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MSTPX closed higher 36% of trading days. The best single day was Mar 25, 2020 with a return of +2.9%, while the worst single day was Apr 14, 2025 at -2.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.60% | 0.90% | -1.81% | 0.90% | 0.40% | 0.50% | 1.48% | ||||||
| 2025 | 0.67% | 0.55% | -1.44% | -0.63% | -0.10% | 0.44% | -0.22% | 0.72% | 1.61% | 0.91% | -0.10% | -0.03% | 2.38% |
| 2024 | -0.03% | 0.14% | 0.14% | -0.62% | 0.02% | 1.33% | 0.78% | 0.58% | 0.87% | -0.92% | 1.28% | -1.00% | 2.57% |
| 2023 | 2.32% | -1.71% | 1.58% | 0.00% | -0.53% | 0.80% | 0.22% | -0.68% | -2.00% | -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% | -7.20% |
| 2021 | 0.69% | -1.33% | 0.52% | 0.71% | 0.39% | 0.25% | 0.61% | -0.24% | -0.60% | -0.15% | 0.59% | 0.05% | 1.48% |
Benchmark Metrics
Morningstar Municipal Bond Fund has an annualized alpha of 2.21%, beta of 0.03, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since November 05, 2018.
- This fund participated in 16.39% of S&P 500 Index downside but only 12.78% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.03 may look defensive, but with R2 of 0.03 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 0.03 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.
- Alpha
- 2.21%
- Beta
- 0.03
- R²
- 0.03
- Upside Capture
- 12.78%
- Downside Capture
- 16.39%
Expense Ratio
MSTPX has an expense ratio of 0.58%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MSTPX ranks 75 for risk / return — better than 75% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Morningstar Municipal Bond Fund (MSTPX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSTPX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.37 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 2.78 | +0.09 |
| Martin ratioReturn relative to average drawdown | 9.60 | 12.44 | -2.83 |
Dividends
Dividend History
Morningstar Municipal Bond Fund provided a 2.02% dividend yield over the last twelve months, with an annual payout of $0.20 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.20 | $0.23 | $0.32 | $0.27 | $0.21 | $0.19 | $0.34 | $0.28 | $0.03 |
Dividend yield | 2.02% | 2.33% | 3.25% | 2.67% | 2.15% | 1.75% | 3.16% | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.03 | $0.03 | $0.02 | $0.00 | $0.08 | ||||||
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.23 |
| 2024 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 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 |
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.
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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 10.90%, occurring on Oct 25, 2022. Recovery took 444 trading sessions.
The current Morningstar Municipal Bond Fund drawdown is 0.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -10.90%Oct 2022 | 1y 2mo | 1y 9mo | 3y 5dJul 2021 - Aug 2024 |
COVID crash2020 | -10.07%Mar 2020 | 10d | 4mo 13d | 4mo 23dMar 2020 - Jul 2020 |
2025 selloff2025 | -4.52%Apr 2025 | 4mo 1d | 5mo 5d | 9mo 6dDec 2024 - Sep 2025 |
2026 pullback2026 | -2.08%Mar 2026 | 22d | — | 3mo 23dMar 2026 - now |
2024 pullback2024 | -1.81%Nov 2024 | 1mo 3d | 23d | 1mo 26dOct 2024 - Nov 2024 |
Drawdown Indicators
| MSTPX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.90% | -56.78% | +45.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.08% | -9.10% | +7.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | -18.90% | +14.38% |
Max Drawdown (5Y)Largest decline over 5 years | -10.90% | -25.43% | +14.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.03% | -1.80% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -10.71% | +8.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 2.03% | -0.68% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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