AlphaCentric SWBC Municipal Opportunities Fund (MUNIX)
The investment seeks to provide income exempt from federal income tax with capital appreciation as a secondary objective. The fund seeks to achieve its investment objective by investing primarily in municipal securities that are exempt from regular federal individual income taxes. It selects investments without regard to the alternative minimum tax (AMT). Under normal market conditions, the fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in municipal securities (directly or through underlying funds) that are exempt from regular federal income tax. It is non-diversified.
Fund Info
| ISIN | US62827P3947 |
|---|---|
| CUSIP | 62827P394 |
| Issuer | AlphaCentric Funds |
| Inception Date | Dec 30, 2019 |
| Category | Municipal Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
MUNIX has a high expense ratio of 1.25%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in AlphaCentric SWBC Municipal Opportunities 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
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | N/A | 18.13% |
| 1 month | N/A | 1.45% |
| 6 months | N/A | 8.81% |
| 1 year | N/A | 26.52% |
| 5 years (annualized) | N/A | 13.43% |
| 10 years (annualized) | N/A | 10.88% |
Monthly Returns
The table below presents the monthly returns of MUNIX, 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 | -1.08% | -0.79% | 0.00% | -1.86% | |||||||||
| 2023 | 4.53% | -3.58% | 1.10% | -0.38% | -0.94% | 2.01% | 0.73% | -1.67% | -3.36% | -2.19% | 7.72% | 2.76% | 6.32% |
| 2022 | -4.15% | -1.87% | -3.74% | -3.91% | 1.94% | -3.39% | 2.56% | -3.51% | -6.50% | -2.12% | 7.80% | -0.81% | -17.03% |
| 2021 | 1.30% | -0.89% | 0.89% | 1.19% | -0.07% | 1.05% | 0.14% | -0.33% | -2.35% | -0.21% | 0.74% | 0.80% | 2.23% |
| 2020 | 0.70% | -0.30% | -0.10% | -4.49% | 3.53% | 3.09% | 2.04% | -0.89% | -0.18% | -0.56% | 3.46% | 1.32% | 7.60% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MUNIX is 20, indicating that it is in the bottom 20% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for AlphaCentric SWBC Municipal Opportunities Fund (MUNIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
AlphaCentric SWBC Municipal Opportunities Fund granted a 2.26% dividend yield in the last twelve months. The annual payout for that period amounted to $0.19 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Dividend | $0.19 | $0.39 | $0.28 | $0.39 | $0.19 |
Dividend yield | 2.26% | 4.60% | 3.33% | 3.79% | 1.81% |
Monthly Dividends
The table displays the monthly dividend distributions for AlphaCentric SWBC Municipal Opportunities 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 | $0.04 | $0.01 | $0.00 | $0.00 | $0.05 | ||||||||
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.39 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.28 |
| 2021 | $0.01 | $0.03 | $0.02 | $0.05 | $0.03 | $0.04 | $0.04 | $0.03 | $0.05 | $0.03 | $0.04 | $0.03 | $0.39 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $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.
Worst Drawdowns
The table below displays the maximum drawdowns of the AlphaCentric SWBC Municipal Opportunities 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 AlphaCentric SWBC Municipal Opportunities Fund was 24.47%, occurring on Oct 27, 2022. The portfolio has not yet recovered.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -24.47% | Jul 13, 2021 | 328 | Oct 27, 2022 | — | — | — |
| -12.52% | Feb 26, 2020 | 19 | Mar 23, 2020 | 66 | Jun 25, 2020 | 85 |
| -2.87% | Aug 12, 2020 | 54 | Oct 27, 2020 | 17 | Nov 19, 2020 | 71 |
| -2.72% | Feb 12, 2021 | 9 | Feb 25, 2021 | 73 | Jun 10, 2021 | 82 |
| -0.68% | Jul 17, 2020 | 2 | Jul 20, 2020 | 6 | Jul 28, 2020 | 8 |
Volatility
Volatility Chart
The current AlphaCentric SWBC Municipal Opportunities Fund volatility is 0.00%, 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.