Sit Quality Income Fund (SQIFX)
The fund seeks to achieve its objective by investing under normal market conditions at least 80% of its assets in debt securities issued by the U.S. government and its agencies, debt securities issued by corporations, and mortgage and other asset-backed securities. It invests at least 50% of its assets in U.S. government debt securities, which are securities issued, guaranteed or insured by the U.S. government, its agencies or instrumentalities. The fund's dollar-weighted average portfolio quality is expected to be "A" or better.
Fund Info
| ISIN | US82979K5065 |
|---|---|
| CUSIP | 82979K506 |
| Issuer | Sit |
| Inception Date | Dec 31, 2012 |
| Category | Ultrashort Bond |
| Min. Investment | $5,000 |
| Asset Class | Bond |
Expense Ratio
SQIFX has a high expense ratio of 0.90%, 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 Sit Quality 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 Quality Income Fund had a return of 0.91% year-to-date (YTD) and 4.16% in the last 12 months. Over the past 10 years, Sit Quality Income Fund had an annualized return of 1.36%, while the S&P 500 had an annualized return of 10.99%, indicating that Sit Quality Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 0.91% | 11.18% |
| 1 month | 0.67% | 5.60% |
| 6 months | 3.03% | 17.48% |
| 1 year | 4.16% | 26.33% |
| 5 years (annualized) | 1.92% | 13.16% |
| 10 years (annualized) | 1.36% | 10.99% |
Monthly Returns
The table below presents the monthly returns of SQIFX, 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 | 0.28% | 0.03% | 0.57% | -0.50% | 0.91% | ||||||||
| 2023 | 1.04% | -0.57% | 0.72% | 0.37% | -0.22% | -0.02% | 0.32% | 0.11% | -0.32% | -0.06% | 1.55% | 1.41% | 4.38% |
| 2022 | 0.11% | 0.17% | -0.30% | -0.73% | 0.17% | -0.07% | 0.32% | -0.58% | -1.18% | -0.31% | 0.65% | 0.09% | -1.66% |
| 2021 | 0.25% | 0.06% | 0.10% | 0.31% | 0.13% | 0.38% | 0.15% | 0.10% | 0.00% | 0.13% | -0.04% | -0.10% | 1.47% |
| 2020 | 0.64% | 0.63% | -1.20% | 0.71% | 0.30% | 0.50% | 0.29% | 0.21% | 0.10% | -0.10% | 0.50% | 0.37% | 2.96% |
| 2019 | 0.28% | 0.37% | 0.47% | 0.28% | 0.08% | 0.36% | 0.09% | 0.56% | 0.06% | 0.25% | 0.13% | 0.15% | 3.13% |
| 2018 | -0.08% | -0.08% | 0.04% | 0.04% | 0.15% | 0.04% | 0.18% | 0.26% | 0.15% | -0.03% | 0.18% | 0.06% | 0.91% |
| 2017 | 0.17% | -0.02% | 0.08% | 0.18% | 0.20% | 0.10% | 0.01% | 0.21% | -0.00% | 0.09% | 0.01% | 0.11% | 1.15% |
| 2016 | -0.12% | 0.09% | 0.16% | 0.18% | 0.18% | -0.02% | 0.17% | 0.19% | 0.05% | 0.07% | -0.23% | 0.07% | 0.81% |
| 2015 | 0.04% | -0.05% | -0.04% | 0.08% | -0.13% | 0.06% | -0.02% | -0.01% | -0.13% | -0.10% | 0.07% | -0.03% | -0.26% |
| 2014 | 0.10% | 0.00% | 0.00% | 0.00% | 0.10% | 0.00% | 0.00% | 0.10% | -0.10% | -0.05% | 0.04% | -0.05% | 0.14% |
| 2013 | 0.00% | -0.10% | 0.20% | 0.10% | -0.10% | -0.40% | 0.00% | 0.00% | -0.10% | 0.00% | -0.10% | 0.10% | -0.40% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SQIFX is 67, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
SQIFX (Sit Quality Income Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Sit Quality Income Fund (SQIFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Sit Quality Income Fund granted a 4.06% dividend yield in the last twelve months. The annual payout for that period amounted to $0.38 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.38 | $0.35 | $0.43 | $0.15 | $0.12 | $0.19 | $0.18 | $0.11 | $0.09 | $0.09 | $0.01 |
Dividend yield | 4.06% | 3.72% | 4.51% | 1.47% | 1.20% | 1.95% | 1.83% | 1.15% | 0.91% | 0.96% | 0.14% |
Monthly Dividends
The table displays the monthly dividend distributions for Sit Quality 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.03 | $0.03 | $0.03 | $0.00 | $0.14 | |||||||
| 2023 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2022 | $0.01 | $0.01 | $0.02 | $0.02 | $0.03 | $0.01 | $0.03 | $0.03 | $0.01 | $0.02 | $0.02 | $0.21 | $0.43 |
| 2021 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.00 | $0.01 | $0.03 | $0.15 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.19 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.18 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2015 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2014 | $0.01 | $0.00 | $0.01 | $0.01 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the Sit Quality 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 Quality Income Fund was 3.06%, occurring on Oct 24, 2022. Recovery took 259 trading sessions.
The current Sit Quality Income Fund drawdown is 0.21%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -3.06% | Mar 2, 2022 | 164 | Oct 24, 2022 | 259 | Nov 3, 2023 | 423 |
| -2.9% | Mar 10, 2020 | 10 | Mar 23, 2020 | 79 | Jul 15, 2020 | 89 |
| -1.24% | May 22, 2013 | 687 | Feb 11, 2016 | 140 | Aug 31, 2016 | 827 |
| -0.85% | Apr 1, 2024 | 19 | Apr 25, 2024 | 8 | May 7, 2024 | 27 |
| -0.84% | Feb 2, 2024 | 8 | Feb 13, 2024 | 14 | Mar 5, 2024 | 22 |
Volatility
Volatility Chart
The current Sit Quality Income Fund volatility is 0.50%, 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.