DWS Massachusetts Tax Free Fund (SCMAX)
The investment seeks income that is exempt from Massachusetts personal and federal income taxes. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in Massachusetts municipal securities. For purposes of this 80% requirement, Massachusetts municipal securities are securities whose income is exempt from regular federal and Massachusetts state income taxes. The fund is non-diversified.
Fund Info
US25158X8561
May 27, 1987
$2,500
Expense Ratio
SCMAX features an expense ratio of 0.61%, 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 DWS Massachusetts Tax Free 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
DWS Massachusetts Tax Free Fund had a return of -1.14% year-to-date (YTD) and 0.22% in the last 12 months. Over the past 10 years, DWS Massachusetts Tax Free Fund had an annualized return of 1.65%, while the S&P 500 had an annualized return of 11.24%, indicating that DWS Massachusetts Tax Free Fund did not perform as well as the benchmark.
SCMAX
-1.14%
-1.97%
-0.62%
0.22%
0.33%
1.65%
^GSPC (Benchmark)
-0.66%
-3.44%
3.10%
22.14%
12.04%
11.24%
Monthly Returns
The table below presents the monthly returns of SCMAX, 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 | -0.22% | 0.09% | 0.08% | -1.20% | -0.07% | 1.48% | 0.78% | 0.85% | 0.93% | -1.26% | 1.38% | -1.50% | 1.31% |
| 2023 | 3.17% | -2.40% | 1.93% | -0.15% | -0.54% | 0.85% | 0.22% | -1.00% | -2.64% | -1.20% | 5.77% | 2.63% | 6.49% |
| 2022 | -2.74% | -0.57% | -3.05% | -3.44% | 1.46% | -2.03% | 3.11% | -2.46% | -4.35% | -1.12% | 5.42% | -0.16% | -9.91% |
| 2021 | 0.45% | -1.81% | 0.59% | 1.07% | 0.38% | 0.18% | 0.77% | -0.37% | -0.83% | -0.10% | 0.86% | 0.10% | 1.26% |
| 2020 | 2.12% | 1.42% | -3.94% | -1.54% | 3.30% | 0.82% | 1.63% | -0.56% | 0.05% | -0.22% | 1.67% | 0.77% | 5.45% |
| 2019 | 0.55% | 0.61% | 1.66% | 0.46% | 1.43% | 0.32% | 0.73% | 1.82% | -0.80% | 0.02% | 0.06% | 0.28% | 7.33% |
| 2018 | -1.28% | -0.44% | 0.39% | -0.45% | 0.97% | -0.16% | 0.03% | 0.12% | -0.62% | -0.76% | 1.07% | 1.32% | 0.15% |
| 2017 | 0.35% | 0.63% | 0.30% | 0.61% | 1.46% | -0.13% | 0.59% | 0.67% | -0.44% | 0.11% | -0.37% | 1.17% | 5.06% |
| 2016 | 0.96% | 0.09% | 0.36% | 0.83% | 0.27% | 1.28% | -0.13% | 0.15% | -0.57% | -1.01% | -3.48% | 1.03% | -0.32% |
| 2015 | 1.73% | -1.03% | 0.24% | -0.55% | -0.22% | -0.17% | 0.75% | 0.29% | 0.52% | 0.32% | 0.35% | 1.07% | 3.32% |
| 2014 | 2.52% | 1.48% | 0.14% | 1.39% | 1.58% | -0.54% | 0.27% | 1.56% | 0.12% | 0.65% | -0.05% | 0.65% | 10.17% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SCMAX is 16, meaning it’s performing worse than 84% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for DWS Massachusetts Tax Free Fund (SCMAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
DWS Massachusetts Tax Free Fund provided a 2.70% dividend yield over the last twelve months, with an annual payout of $0.35 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.35 | $0.35 | $0.42 | $0.42 | $0.31 | $0.45 | $0.40 | $0.44 | $0.50 | $0.46 | $0.59 | $0.58 |
Dividend yield | 2.70% | 2.67% | 3.15% | 3.25% | 2.13% | 3.02% | 2.76% | 3.12% | 3.45% | 3.25% | 4.00% | 3.92% |
Monthly Dividends
The table displays the monthly dividend distributions for DWS Massachusetts Tax Free 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | |||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.35 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.42 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.06 | $0.42 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2020 | $0.06 | $0.03 | $0.03 | $0.03 | $0.06 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.05 | $0.45 |
| 2019 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2017 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.08 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.50 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2015 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.10 | $0.59 |
| 2014 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.58 |
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 DWS Massachusetts 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 DWS Massachusetts Tax Free Fund was 15.11%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current DWS Massachusetts Tax Free Fund drawdown is 4.26%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.11% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -12.95% | Sep 10, 2008 | 27 | Oct 16, 2008 | 75 | Feb 4, 2009 | 102 |
| -12.07% | Feb 1, 1994 | 210 | Nov 21, 1994 | 103 | Apr 13, 1995 | 313 |
| -11.41% | Mar 10, 2020 | 9 | Mar 20, 2020 | 97 | Aug 7, 2020 | 106 |
| -9.98% | Dec 5, 2012 | 189 | Sep 5, 2013 | 184 | May 30, 2014 | 373 |
Volatility
Volatility Chart
The current DWS Massachusetts Tax Free Fund volatility is 1.12%, 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.