Saratoga Municipal Bond Portfolio (SMBPX)
The investment seeks a high level of interest income that is excluded from federal income taxation to the extent consistent with prudent investment management and the preservation of capital. The Portfolio is a "fund of funds." The Portfolio's main investment strategy is to invest in unaffiliated registered investment companies and ETFs (the "underlying funds"). As a matter of fundamental policy, the Portfolio will normally invest at least 80% of its total assets in securities that pay interest exempt from federal income taxes. The Manager generally invests the Portfolio's assets in underlying funds that invest in municipal obligations.
Fund Info
US8034313036
803431303
Sep 1, 1994
$250
Expense Ratio
SMBPX has a high expense ratio of 3.16%, indicating higher-than-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Saratoga Municipal Bond Portfolio, 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
Saratoga Municipal Bond Portfolio had a return of 0.46% year-to-date (YTD) and 0.79% in the last 12 months. Over the past 10 years, Saratoga Municipal Bond Portfolio had an annualized return of -0.72%, while the S&P 500 had an annualized return of 11.31%, indicating that Saratoga Municipal Bond Portfolio did not perform as well as the benchmark.
SMBPX
0.46%
0.69%
-0.22%
0.79%
-0.24%
-0.72%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of SMBPX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.34% | 0.46% | |||||||||||
| 2024 | -0.22% | -0.11% | -0.11% | -0.91% | -0.46% | 1.03% | 0.80% | 0.56% | 0.67% | -1.34% | 1.13% | -1.12% | -0.12% |
| 2023 | 0.46% | -0.34% | 0.46% | -0.69% | -0.57% | 0.35% | 0.12% | -0.58% | -1.50% | -0.59% | 3.31% | 1.49% | 1.84% |
| 2022 | -0.67% | -0.23% | -0.68% | -0.45% | 0.11% | -0.11% | 0.23% | -0.57% | -0.57% | -0.12% | 0.58% | -0.11% | -2.57% |
| 2021 | 0.01% | -0.21% | 0.12% | 0.01% | -0.10% | -0.22% | 0.00% | -0.22% | -0.22% | -0.22% | -0.22% | -0.11% | -1.38% |
| 2020 | 0.12% | 0.01% | -0.88% | -0.33% | 1.13% | 0.34% | 0.34% | -0.10% | 0.01% | -0.21% | 0.23% | 0.12% | 0.80% |
| 2019 | 0.34% | 0.12% | 0.01% | 0.01% | 0.12% | 0.12% | 0.12% | 0.01% | -0.21% | 0.12% | 0.12% | 0.12% | 1.02% |
| 2018 | -1.26% | -1.07% | -0.20% | 0.04% | 0.06% | 0.06% | 0.28% | -0.11% | -0.21% | -0.10% | 0.01% | 0.13% | -2.38% |
| 2017 | 0.38% | 0.49% | 0.06% | 0.61% | 1.05% | -0.82% | 0.47% | 0.70% | -0.50% | 0.04% | -0.72% | 0.71% | 2.47% |
| 2016 | 0.83% | -0.10% | -0.00% | 0.52% | 0.00% | 1.60% | -0.21% | -0.03% | -0.66% | -0.88% | -3.47% | -3.33% | -5.71% |
| 2015 | 1.07% | -0.74% | 0.04% | -0.26% | -0.36% | -0.06% | 0.23% | -0.08% | 0.14% | 0.32% | 0.12% | -1.34% | -0.94% |
| 2014 | 1.01% | 0.49% | -0.55% | 0.58% | 0.56% | -0.23% | 0.06% | 0.36% | -0.25% | 0.47% | -0.04% | -0.21% | 2.26% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SMBPX is 12, meaning it’s performing worse than 88% 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 Saratoga Municipal Bond Portfolio (SMBPX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Saratoga Municipal Bond Portfolio provided a 1.15% dividend yield over the last twelve months, with an annual payout of $0.10 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.10 | $0.10 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.03 | $0.05 | $0.04 | $0.04 | $0.13 |
Dividend yield | 1.15% | 1.15% | 0.00% | 0.00% | 0.06% | 0.13% | 0.12% | 0.36% | 0.57% | 0.39% | 0.41% | 1.31% |
Monthly Dividends
The table displays the monthly dividend distributions for Saratoga Municipal Bond Portfolio. 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 | $0.00 | ||||||||||
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.10 | $0.10 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 |
| 2019 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 |
| 2017 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.05 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.00 | $0.04 |
| 2015 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 | $0.13 |
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 Saratoga Municipal Bond Portfolio. 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 Saratoga Municipal Bond Portfolio was 13.99%, occurring on Oct 19, 2023. The portfolio has not yet recovered.
The current Saratoga Municipal Bond Portfolio drawdown is 9.51%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.99% | Dec 6, 2012 | 2736 | Oct 19, 2023 | — | — | — |
| -12.68% | Oct 6, 1998 | 340 | Jan 21, 2000 | 664 | Sep 18, 2002 | 1004 |
| -7.54% | Feb 5, 2008 | 181 | Oct 22, 2008 | 220 | Sep 8, 2009 | 401 |
| -5.88% | Mar 12, 2004 | 44 | May 13, 2004 | 90 | Sep 22, 2004 | 134 |
| -5.72% | Jun 16, 2003 | 32 | Jul 31, 2003 | 112 | Jan 9, 2004 | 144 |
Volatility
Volatility Chart
The current Saratoga Municipal Bond Portfolio volatility is 0.74%, 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.