- ISIN
- US66538R3003
- CUSIP
- 66538R300
- Inception Date
- Jun 10, 2018
- Category
- High Yield Muni
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
TMNIX Performance Chart
Counterpoint Tactical Municipal Fund (TMNIX) is up 1.8% since the beginning of the year. TMNIX is currently trading at $11 per share. Investors who bought $1,000 worth of TMNIX shares 5 years ago would now be looking at an investment worth $1,117.
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Returns By Period
Counterpoint Tactical Municipal Fund (TMNIX) has returned 1.84% so far this year and 6.25% over the past 12 months.
Counterpoint Tactical Municipal Fund
- 1D
- 0.19%
- 1M
- 1.78%
- YTD
- 1.84%
- 6M
- 2.03%
- 1Y
- 6.25%
- 3Y*
- 4.06%
- 5Y*
- 2.24%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TMNIX Monthly Returns History
Based on dividend-adjusted daily data since Jun 28, 2018, TMNIX's average daily return is +0.01%, while the average monthly return is +0.31%. At this rate, an investment would double in approximately 18.7 years.
Historically, 61% of months were positive and 39% were negative. The best month was Jan 2023 with a return of +4.1%, while the worst month was Feb 2023 at -2.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TMNIX closed higher 33% of trading days. The best single day was Dec 15, 2023 with a return of +1.2%, while the worst single day was Mar 9, 2020 at -1.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.35% | 1.62% | -2.18% | 0.87% | 0.55% | 0.66% | 1.84% | ||||||
| 2025 | 0.09% | 0.68% | -2.27% | -0.16% | 0.06% | -0.07% | -0.25% | 0.14% | 3.24% | 0.98% | 0.40% | -0.24% | 2.56% |
| 2024 | 0.31% | 0.64% | 0.61% | -1.30% | 0.59% | 2.14% | 1.20% | 0.63% | 1.25% | -1.37% | 1.54% | -2.31% | 3.92% |
| 2023 | 4.06% | -2.86% | 1.61% | 0.28% | -0.76% | 0.55% | 0.16% | -1.60% | -0.41% | -0.03% | 2.83% | 3.03% | 6.85% |
| 2022 | -1.03% | -0.09% | -0.28% | -0.19% | 0.00% | -0.09% | 0.10% | -0.09% | -0.19% | 0.09% | 0.26% | -1.62% | -3.12% |
| 2021 | 1.45% | -1.43% | 0.77% | 1.20% | 0.80% | 0.75% | 0.79% | -0.46% | -1.00% | -0.09% | 0.00% | 0.18% | 2.96% |
Benchmark Metrics
Counterpoint Tactical Municipal Fund has an annualized alpha of 3.75%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 28, 2018.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (13.83%) than losses (10.41%) - typical of diversified or defensive assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.75%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 13.83%
- Downside Capture
- 10.41%
Expense Ratio
TMNIX has a high expense ratio of 1.00%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
TMNIX ranks 70 for risk / return — better than 70% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Counterpoint Tactical Municipal Fund (TMNIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TMNIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.37 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 2.78 | -0.01 |
| Martin ratioReturn relative to average drawdown | 7.68 | 12.44 | -4.76 |
Dividends
Dividend History
Counterpoint Tactical Municipal Fund provided a 3.12% dividend yield over the last twelve months, with an annual payout of $0.33 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.33 | $0.30 | $0.35 | $0.36 | $0.04 | $0.47 | $0.26 | $0.38 | $0.11 |
Dividend yield | 3.12% | 2.79% | 3.31% | 3.40% | 0.36% | 4.39% | 2.36% | 3.69% | 1.10% |
Monthly Dividends
The table displays the monthly dividend distributions for Counterpoint Tactical Municipal 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.02 | $0.04 | $0.03 | $0.02 | $0.03 | $0.00 | $0.14 | ||||||
| 2025 | $0.00 | $0.03 | $0.04 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.03 | $0.04 | $0.03 | $0.05 | $0.30 |
| 2024 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.35 |
| 2023 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.36 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.02 | $0.04 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.00 | $0.29 | $0.47 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Counterpoint Tactical Municipal 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 Counterpoint Tactical Municipal Fund was 4.63%, occurring on Dec 30, 2022. Recovery took 241 trading sessions.
The current Counterpoint Tactical Municipal Fund drawdown is 0.14%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -4.63%Dec 2022 | 1y 5mo | 11mo 20d | 2y 4moJul 2021 - Dec 2023 |
2025 selloff2025 | -4.61%Apr 2025 | 4mo | 6mo 22d | 10mo 22dDec 2024 - Oct 2025 |
2020 pullback2020 | -3.10%Jun 2020 | 3mo 4d | 1mo 29d | 5mo 3dFeb 2020 - Jul 2020 |
2024 pullback2024 | -2.63%Nov 2024 | 1mo 4d | 28d | 2mo 2dOct 2024 - Dec 2024 |
2026 pullback2026 | -2.26%May 2026 | 2mo 18d | — | 3mo 23dMar 2026 - now |
Drawdown Indicators
| TMNIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.63% | -56.78% | +52.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.26% | -9.10% | +6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -4.61% | -18.90% | +14.29% |
Max Drawdown (5Y)Largest decline over 5 years | -4.63% | -25.43% | +20.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.14% | -1.80% | +1.66% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -10.71% | +9.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 2.03% | -1.21% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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