SIT Minnesota Tax Free Income Fund (SMTFX)
The fund seeks to achieve its objective by investing primarily in municipal securities that generate interest income that is exempt from regular federal income tax and Minnesota regular personal income tax. It invests 100% (and, as a fundamental policy, no less than 80%) of its net assets in such tax-exempt municipal securities. It is non-diversified.
Fund Info
US82979K1007
82979K100
Nov 30, 1993
$5,000
Expense Ratio
SMTFX features an expense ratio of 0.80%, 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 SIT Minnesota Tax Free Income 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
SIT Minnesota Tax Free Income Fund had a return of -0.21% year-to-date (YTD) and 3.08% in the last 12 months. Over the past 10 years, SIT Minnesota Tax Free Income Fund had an annualized return of 1.93%, while the S&P 500 had an annualized return of 11.31%, indicating that SIT Minnesota Tax Free Income Fund did not perform as well as the benchmark.
SMTFX
-0.21%
0.53%
0.82%
3.08%
0.18%
1.93%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of SMTFX, 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 | -0.21% | -0.21% | |||||||||||
| 2024 | 0.29% | 0.89% | 0.05% | -1.00% | -0.15% | 2.18% | 0.71% | 0.37% | 1.43% | -0.97% | 1.72% | -1.48% | 4.04% |
| 2023 | 2.51% | -1.77% | 1.12% | -0.18% | -0.36% | 1.55% | 0.25% | -1.12% | -2.76% | -1.59% | 4.45% | 2.32% | 4.25% |
| 2022 | -2.86% | -0.95% | -3.36% | -3.10% | 1.71% | -2.94% | 2.87% | -2.33% | -4.00% | -0.74% | 4.84% | -0.08% | -10.81% |
| 2021 | 0.59% | -1.09% | 0.53% | 0.87% | 0.48% | 0.50% | 0.76% | -0.16% | -0.91% | -0.08% | 0.97% | 0.20% | 2.65% |
| 2020 | 1.36% | 1.23% | -4.70% | -2.31% | 3.01% | 1.51% | 1.77% | -0.14% | 0.23% | -0.24% | 1.37% | 0.69% | 3.60% |
| 2019 | 0.46% | 0.53% | 1.60% | 0.46% | 1.10% | 0.41% | 0.63% | 1.45% | -0.42% | 0.05% | 0.12% | 0.15% | 6.71% |
| 2018 | -0.86% | -0.05% | 0.45% | -0.21% | 1.04% | 0.06% | 0.17% | 0.26% | -0.53% | -0.88% | 0.85% | 0.75% | 1.03% |
| 2017 | 0.20% | 0.73% | 0.27% | 0.73% | 1.26% | 0.07% | 0.55% | 0.44% | -0.05% | 0.36% | 0.14% | 1.01% | 5.85% |
| 2016 | 0.82% | 0.07% | 0.64% | 0.62% | 0.45% | 1.65% | -0.15% | 0.17% | -0.32% | -0.87% | -3.90% | 1.06% | 0.13% |
| 2015 | 1.31% | -0.49% | 0.38% | -0.49% | -0.03% | -0.09% | 0.64% | 0.09% | 0.67% | 0.27% | 0.47% | 0.75% | 3.53% |
| 2014 | 2.37% | 1.20% | 0.72% | 1.08% | 1.27% | 0.00% | 0.20% | 1.26% | 0.18% | 0.58% | 0.17% | 0.50% | 9.92% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SMTFX is 40, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for SIT Minnesota Tax Free Income Fund (SMTFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
SIT Minnesota Tax Free Income Fund provided a 2.93% dividend yield over the last twelve months, with an annual payout of $0.28 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.28 | $0.31 | $0.29 | $0.27 | $0.27 | $0.30 | $0.30 | $0.32 | $0.32 | $0.32 | $0.34 | $0.37 |
Dividend yield | 2.93% | 3.21% | 3.06% | 2.89% | 2.52% | 2.83% | 2.85% | 3.15% | 3.04% | 3.12% | 3.26% | 3.54% |
Monthly Dividends
The table displays the monthly dividend distributions for SIT Minnesota Tax Free Income 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 | $0.00 | ||||||||||
| 2024 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.31 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.29 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2021 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.30 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.30 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2014 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
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 SIT Minnesota Tax Free Income 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 SIT Minnesota Tax Free Income Fund was 15.54%, occurring on Oct 27, 2022. The portfolio has not yet recovered.
The current SIT Minnesota Tax Free Income Fund drawdown is 3.46%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.54% | Jan 4, 2022 | 206 | Oct 27, 2022 | — | — | — |
| -13.4% | Jan 24, 2008 | 227 | Dec 16, 2008 | 156 | Jul 31, 2009 | 383 |
| -11.71% | Mar 10, 2020 | 9 | Mar 20, 2020 | 176 | Nov 30, 2020 | 185 |
| -7.64% | May 3, 2013 | 87 | Sep 5, 2013 | 151 | Apr 11, 2014 | 238 |
| -5.84% | Jul 7, 2016 | 104 | Dec 1, 2016 | 192 | Sep 7, 2017 | 296 |
Volatility
Volatility Chart
The current SIT Minnesota Tax Free Income Fund volatility is 1.14%, 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.