FROST MUNICIPAL BOND FUND
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.2%
1 yr return
1.3%
3 Yr Avg Return
0.2%
5 Yr Avg Return
1.5%
Net Assets
$15.7 M
Holdings in Top 10
42.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.70%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 0.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FIMUX - Profile
Distributions
- YTD Total Return -1.2%
- 3 Yr Annualized Total Return 0.2%
- 5 Yr Annualized Total Return 1.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.49%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFROST MUNICIPAL BOND FUND
-
Fund Family NameFrost Funds
-
Inception DateApr 25, 2008
-
Shares Outstanding3018078
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffery Elswick
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal securities that generate income exempt from federal income tax, but not necessarily the federal alternative minimum tax (“AMT”). These securities include securities of municipal issuers located in Texas as well as in other states, territories and possessions of the United States. This investment policy may not be changed without shareholder approval. The Fund may invest more than 25% of its total assets in bonds of issuers in Texas.
Frost Investment Advisors, LLC (the “Adviser” or “Frost”) considers the relative yield, maturity and availability of various types of municipal bonds and the general economic outlook in determining whether to over- or under-weight a specific type of municipal bond in the Fund’s portfolio. Duration adjustments are made relative to the Bloomberg Municipal Bond Index. The concept of duration is useful in assessing the sensitivity of a fixed income fund to interest rate movements, which are usually the main source of risk for most fixed income funds. Duration measures price volatility by estimating the change in price of a debt security for a 1% change in its yield. For example, a duration of five years means the price of a debt security will change about 5% for every 1% change in its yield. Thus, the higher the duration, the more volatile the security.
The Adviser, in constructing and maintaining the Fund’s portfolio, employs the following four primary strategies to varying degrees depending on its views of economic growth prospects, interest rate predictions and relative value assessments: interest rate positioning based on duration and yield curve positioning, with a typical range of three years; asset category allocations; credit sector allocations relating to security ratings by the national ratings agencies; and individual security selection.
Securities will be considered for sale in the event of or in anticipation of a credit downgrade; to effect a change in duration or sector weighting of the Fund; to realize an aberration in a security’s valuation; or when the Adviser otherwise deems appropriate.
FIMUX - Performance
Return Ranking - Trailing
Period | FIMUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -4.6% | 8.4% | 81.46% |
1 Yr | 1.3% | -3.5% | 30.4% | 90.08% |
3 Yr | 0.2%* | -11.3% | 2.6% | 6.76% |
5 Yr | 1.5%* | -6.0% | 1102.0% | 8.83% |
10 Yr | 1.9%* | -0.4% | 248.1% | 41.73% |
* Annualized
Return Ranking - Calendar
Period | FIMUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.2% | -1.4% | 41.0% | 92.92% |
2022 | -6.1% | -39.7% | 0.3% | 12.39% |
2021 | -2.2% | -5.6% | 6.9% | 98.94% |
2020 | -2.4% | -2.6% | 310.0% | 99.73% |
2019 | 2.8% | 0.0% | 26.0% | 81.42% |
Total Return Ranking - Trailing
Period | FIMUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -4.6% | 8.4% | 81.46% |
1 Yr | 1.3% | -3.5% | 30.4% | 90.08% |
3 Yr | 0.2%* | -11.3% | 2.6% | 6.76% |
5 Yr | 1.5%* | -6.0% | 1102.0% | 8.83% |
10 Yr | 1.9%* | -0.4% | 248.1% | 41.73% |
* Annualized
Total Return Ranking - Calendar
Period | FIMUX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.8% | -1.3% | 41.0% | 86.74% |
2022 | -3.0% | -39.7% | 1.1% | 6.26% |
2021 | 1.5% | -4.8% | 23761504.0% | 51.09% |
2020 | 4.1% | -1.5% | 17057.9% | 38.53% |
2019 | 5.1% | 0.2% | 3514.6% | 78.98% |
NAV & Total Return History
FIMUX - Holdings
Concentration Analysis
FIMUX | Category Low | Category High | FIMUX % Rank | |
---|---|---|---|---|
Net Assets | 15.7 M | 3.22 M | 71.9 B | 98.64% |
Number of Holdings | 34 | 2 | 13067 | 98.71% |
Net Assets in Top 10 | 6.9 M | -317 M | 3.4 B | 96.83% |
Weighting of Top 10 | 42.53% | 1.9% | 100.4% | 3.75% |
Top 10 Holdings
- NORTH TEX MUN WTR DIST UPPER EAST FORK WASTEWATER COMMERCIAL PAPER (ISITC) 6.16%
- UNIVERSITY TEX COML PAPER 3.35% 06/06/2024 CP 6.16%
- UNIV OF TEXAS TX UNIV REVENUES BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM 5.03%
- LIBERTY HILL TX INDEP SCH DIST LIBERTY HILL INDEPENDENT SCHOOL DISTRICT 4.47%
- FORT LAUDERDALE FL CITY OF FORT LAUDERDALE FL 3.62%
- PLAINVIEW TX INDEP SCH DIST PLAINVIEW INDEPENDENT SCHOOL DISTRICT 3.47%
- LIBERTY HILL TX INDEP SCH DIST LIBERTY HILL INDEPENDENT SCHOOL DISTRICT 3.44%
- CYPRESS-FAIRBANKS TX INDEP SCH CYPRESS-FAIRBANKS INDEPENDENT SCHOOL DISTRICT 3.43%
- LOWER COLORADO RIVER TX AUTH R LOWER COLORADO RIVER AUTHORITY 3.38%
- POTTSBORO TX INDEP SCH DIST POTTSBORO INDEPENDENT SCHOOL DISTRICT/TX 3.37%
Asset Allocation
Weighting | Return Low | Return High | FIMUX % Rank | |
---|---|---|---|---|
Bonds | 98.78% | 0.00% | 150.86% | 46.32% |
Cash | 3.10% | -50.86% | 50.09% | 21.14% |
Stocks | 0.00% | 0.00% | 99.81% | 62.53% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 58.50% |
Other | 0.00% | -3.18% | 33.35% | 59.15% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 58.53% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FIMUX % Rank | |
---|---|---|---|---|
Municipal | 84.01% | 44.39% | 100.00% | 97.99% |
Cash & Equivalents | 3.10% | 0.00% | 48.02% | 12.61% |
Derivative | 0.00% | -3.18% | 23.38% | 57.53% |
Securitized | 0.00% | 0.00% | 5.93% | 59.31% |
Corporate | 0.00% | 0.00% | 9.41% | 66.06% |
Government | 0.00% | 0.00% | 52.02% | 62.49% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FIMUX % Rank | |
---|---|---|---|---|
US | 98.78% | 0.00% | 142.23% | 43.96% |
Non US | 0.00% | 0.00% | 23.89% | 62.77% |
FIMUX - Expenses
Operational Fees
FIMUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.70% | 0.01% | 20.65% | 54.17% |
Management Fee | 0.25% | 0.00% | 1.20% | 10.27% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
FIMUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
FIMUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FIMUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 0.00% | 0.00% | 283.00% | 0.28% |
FIMUX - Distributions
Dividend Yield Analysis
FIMUX | Category Low | Category High | FIMUX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 14.56% | 66.21% |
Dividend Distribution Analysis
FIMUX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FIMUX | Category Low | Category High | FIMUX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.49% | -0.53% | 5.33% | 19.04% |
Capital Gain Distribution Analysis
FIMUX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.017 | OrdinaryDividend |
Feb 29, 2024 | $0.018 | OrdinaryDividend |
Jan 31, 2024 | $0.021 | OrdinaryDividend |
Dec 29, 2023 | $0.019 | OrdinaryDividend |
Nov 30, 2023 | $0.019 | OrdinaryDividend |
Oct 31, 2023 | $0.021 | OrdinaryDividend |
Sep 29, 2023 | $0.018 | OrdinaryDividend |
Aug 31, 2023 | $0.022 | OrdinaryDividend |
Jul 31, 2023 | $0.019 | OrdinaryDividend |
Jun 30, 2023 | $0.021 | OrdinaryDividend |
May 31, 2023 | $0.023 | OrdinaryDividend |
Apr 28, 2023 | $0.019 | OrdinaryDividend |
Mar 31, 2023 | $0.022 | OrdinaryDividend |
Feb 28, 2023 | $0.020 | OrdinaryDividend |
Jan 31, 2023 | $0.021 | OrdinaryDividend |
Dec 30, 2022 | $0.020 | OrdinaryDividend |
Nov 30, 2022 | $0.022 | OrdinaryDividend |
Oct 31, 2022 | $0.018 | OrdinaryDividend |
Sep 30, 2022 | $0.018 | OrdinaryDividend |
Aug 31, 2022 | $0.019 | OrdinaryDividend |
Jul 29, 2022 | $0.017 | OrdinaryDividend |
Jun 30, 2022 | $0.019 | OrdinaryDividend |
May 31, 2022 | $0.016 | OrdinaryDividend |
Apr 29, 2022 | $0.016 | OrdinaryDividend |
Mar 31, 2022 | $0.018 | OrdinaryDividend |
Feb 28, 2022 | $0.016 | OrdinaryDividend |
Dec 31, 2021 | $0.017 | OrdinaryDividend |
Nov 30, 2021 | $0.018 | OrdinaryDividend |
Oct 29, 2021 | $0.017 | OrdinaryDividend |
Sep 30, 2021 | $0.018 | OrdinaryDividend |
Aug 31, 2021 | $0.019 | OrdinaryDividend |
Jul 30, 2021 | $0.019 | OrdinaryDividend |
Jun 30, 2021 | $0.022 | OrdinaryDividend |
May 28, 2021 | $0.018 | OrdinaryDividend |
Apr 30, 2021 | $0.021 | OrdinaryDividend |
Mar 31, 2021 | $0.024 | OrdinaryDividend |
Feb 26, 2021 | $0.019 | OrdinaryDividend |
Jan 29, 2021 | $0.019 | OrdinaryDividend |
Dec 31, 2020 | $0.024 | OrdinaryDividend |
Nov 30, 2020 | $0.023 | OrdinaryDividend |
Oct 30, 2020 | $0.023 | OrdinaryDividend |
Sep 30, 2020 | $0.025 | OrdinaryDividend |
Aug 31, 2020 | $0.022 | OrdinaryDividend |
Jul 31, 2020 | $0.021 | OrdinaryDividend |
Jun 30, 2020 | $0.024 | OrdinaryDividend |
May 29, 2020 | $0.021 | OrdinaryDividend |
Apr 30, 2020 | $0.022 | OrdinaryDividend |
Mar 31, 2020 | $0.023 | OrdinaryDividend |
Feb 28, 2020 | $0.021 | OrdinaryDividend |
Jan 31, 2020 | $0.029 | OrdinaryDividend |
Dec 31, 2019 | $0.021 | OrdinaryDividend |
Dec 13, 2019 | $0.002 | OrdinaryDividend |
Nov 29, 2019 | $0.017 | OrdinaryDividend |
May 31, 2019 | $0.019 | OrdinaryDividend |
Apr 30, 2019 | $0.020 | OrdinaryDividend |
Mar 29, 2019 | $0.016 | OrdinaryDividend |
Feb 28, 2019 | $0.019 | OrdinaryDividend |
Jan 31, 2019 | $0.021 | OrdinaryDividend |
Dec 31, 2018 | $0.022 | OrdinaryDividend |
Nov 30, 2018 | $0.020 | OrdinaryDividend |
Oct 31, 2018 | $0.023 | OrdinaryDividend |
Sep 28, 2018 | $0.018 | OrdinaryDividend |
Aug 31, 2018 | $0.020 | OrdinaryDividend |
Jul 31, 2018 | $0.022 | OrdinaryDividend |
Jun 29, 2018 | $0.019 | OrdinaryDividend |
May 31, 2018 | $0.022 | OrdinaryDividend |
Apr 30, 2018 | $0.021 | OrdinaryDividend |
Mar 29, 2018 | $0.020 | OrdinaryDividend |
Feb 28, 2018 | $0.019 | OrdinaryDividend |
Jan 31, 2018 | $0.018 | OrdinaryDividend |
Dec 29, 2017 | $0.027 | OrdinaryDividend |
Nov 30, 2017 | $0.019 | OrdinaryDividend |
Oct 31, 2017 | $0.021 | OrdinaryDividend |
Sep 29, 2017 | $0.019 | OrdinaryDividend |
Aug 31, 2017 | $0.021 | OrdinaryDividend |
Jul 31, 2017 | $0.019 | OrdinaryDividend |
Jun 30, 2017 | $0.019 | OrdinaryDividend |
May 31, 2017 | $0.021 | OrdinaryDividend |
Apr 28, 2017 | $0.018 | OrdinaryDividend |
Mar 31, 2017 | $0.019 | OrdinaryDividend |
Feb 28, 2017 | $0.017 | OrdinaryDividend |
Jan 31, 2017 | $0.019 | OrdinaryDividend |
Dec 30, 2016 | $0.022 | OrdinaryDividend |
Nov 30, 2016 | $0.022 | OrdinaryDividend |
Oct 31, 2016 | $0.019 | OrdinaryDividend |
Sep 30, 2016 | $0.019 | OrdinaryDividend |
Aug 31, 2016 | $0.021 | OrdinaryDividend |
Jul 29, 2016 | $0.020 | OrdinaryDividend |
Jun 30, 2016 | $0.022 | OrdinaryDividend |
May 31, 2016 | $0.018 | OrdinaryDividend |
Apr 29, 2016 | $0.021 | OrdinaryDividend |
Mar 31, 2016 | $0.023 | OrdinaryDividend |
Feb 29, 2016 | $0.020 | OrdinaryDividend |
Jan 29, 2016 | $0.019 | OrdinaryDividend |
Dec 31, 2015 | $0.023 | OrdinaryDividend |
Nov 30, 2015 | $0.021 | OrdinaryDividend |
Oct 30, 2015 | $0.022 | OrdinaryDividend |
Sep 30, 2015 | $0.022 | OrdinaryDividend |
Sep 01, 2015 | $0.017 | OrdinaryDividend |
Aug 03, 2015 | $0.029 | OrdinaryDividend |
Jul 01, 2015 | $0.024 | OrdinaryDividend |
Jun 01, 2015 | $0.021 | OrdinaryDividend |
May 01, 2015 | $0.021 | OrdinaryDividend |
Apr 01, 2015 | $0.018 | OrdinaryDividend |
Mar 02, 2015 | $0.022 | OrdinaryDividend |
Feb 02, 2015 | $0.022 | OrdinaryDividend |
Dec 31, 2014 | $0.023 | OrdinaryDividend |
Dec 01, 2014 | $0.020 | OrdinaryDividend |
Nov 03, 2014 | $0.022 | OrdinaryDividend |
Oct 01, 2014 | $0.023 | OrdinaryDividend |
Sep 02, 2014 | $0.021 | OrdinaryDividend |
Aug 01, 2014 | $0.023 | OrdinaryDividend |
Jul 01, 2014 | $0.024 | OrdinaryDividend |
Jun 02, 2014 | $0.024 | OrdinaryDividend |
May 01, 2014 | $0.023 | OrdinaryDividend |
Apr 01, 2014 | $0.024 | OrdinaryDividend |
Mar 03, 2014 | $0.021 | OrdinaryDividend |
Feb 03, 2014 | $0.028 | OrdinaryDividend |
Dec 19, 2013 | $0.021 | OrdinaryDividend |
Dec 02, 2013 | $0.022 | OrdinaryDividend |
Nov 01, 2013 | $0.024 | OrdinaryDividend |
Oct 01, 2013 | $0.023 | OrdinaryDividend |
Sep 03, 2013 | $0.022 | OrdinaryDividend |
Aug 01, 2013 | $0.024 | OrdinaryDividend |
Jul 01, 2013 | $0.021 | OrdinaryDividend |
Jun 03, 2013 | $0.024 | OrdinaryDividend |
May 01, 2013 | $0.025 | OrdinaryDividend |
Apr 01, 2013 | $0.021 | OrdinaryDividend |
Mar 01, 2013 | $0.021 | OrdinaryDividend |
Feb 01, 2013 | $0.023 | OrdinaryDividend |
Dec 24, 2012 | $0.024 | OrdinaryDividend |
Dec 03, 2012 | $0.023 | OrdinaryDividend |
Nov 01, 2012 | $0.025 | OrdinaryDividend |
Oct 01, 2012 | $0.021 | OrdinaryDividend |
Sep 04, 2012 | $0.022 | OrdinaryDividend |
Aug 01, 2012 | $0.024 | OrdinaryDividend |
Jul 02, 2012 | $0.009 | OrdinaryDividend |
Jun 01, 2012 | $0.024 | OrdinaryDividend |
May 01, 2012 | $0.025 | OrdinaryDividend |
Apr 02, 2012 | $0.024 | OrdinaryDividend |
Mar 01, 2012 | $0.023 | OrdinaryDividend |
Feb 01, 2012 | $0.026 | OrdinaryDividend |
Dec 27, 2011 | $0.026 | OrdinaryDividend |
Dec 01, 2011 | $0.026 | OrdinaryDividend |
Nov 01, 2011 | $0.027 | OrdinaryDividend |
Oct 03, 2011 | $0.026 | OrdinaryDividend |
Sep 01, 2011 | $0.029 | OrdinaryDividend |
Aug 01, 2011 | $0.026 | OrdinaryDividend |
Jul 01, 2011 | $0.028 | OrdinaryDividend |
Jun 01, 2011 | $0.030 | OrdinaryDividend |
May 02, 2011 | $0.025 | OrdinaryDividend |
Apr 01, 2011 | $0.030 | OrdinaryDividend |
Mar 01, 2011 | $0.027 | OrdinaryDividend |
Feb 01, 2011 | $0.029 | OrdinaryDividend |
Dec 27, 2010 | $0.030 | OrdinaryDividend |
Dec 01, 2010 | $0.030 | OrdinaryDividend |
Nov 01, 2010 | $0.026 | OrdinaryDividend |
Oct 01, 2010 | $0.027 | OrdinaryDividend |
Sep 01, 2010 | $0.029 | OrdinaryDividend |
Aug 02, 2010 | $0.027 | OrdinaryDividend |
Jul 01, 2010 | $0.030 | OrdinaryDividend |
Jun 01, 2010 | $0.026 | OrdinaryDividend |
May 03, 2010 | $0.028 | OrdinaryDividend |
Apr 01, 2010 | $0.030 | OrdinaryDividend |
Mar 01, 2010 | $0.025 | OrdinaryDividend |
Feb 01, 2010 | $0.026 | OrdinaryDividend |
Dec 24, 2009 | $0.028 | OrdinaryDividend |
Dec 01, 2009 | $0.028 | OrdinaryDividend |
Nov 02, 2009 | $0.028 | OrdinaryDividend |
Oct 01, 2009 | $0.028 | OrdinaryDividend |
Sep 01, 2009 | $0.029 | OrdinaryDividend |
Aug 03, 2009 | $0.029 | OrdinaryDividend |
Jul 01, 2009 | $0.030 | OrdinaryDividend |
Jun 01, 2009 | $0.028 | OrdinaryDividend |
May 01, 2009 | $0.029 | OrdinaryDividend |
Apr 01, 2009 | $0.030 | OrdinaryDividend |
Mar 02, 2009 | $0.026 | OrdinaryDividend |
Feb 02, 2009 | $0.027 | OrdinaryDividend |
Dec 24, 2008 | $0.032 | OrdinaryDividend |
Dec 01, 2008 | $0.026 | OrdinaryDividend |
Nov 03, 2008 | $0.029 | OrdinaryDividend |
Oct 01, 2008 | $0.028 | OrdinaryDividend |
Sep 02, 2008 | $0.025 | OrdinaryDividend |
Aug 01, 2008 | $0.028 | OrdinaryDividend |
FIMUX - Fund Manager Analysis
Managers
Jeffery Elswick
Start Date
Tenure
Tenure Rank
Apr 25, 2008
14.11
14.1%
Jeffery joined Frost Bank, the parent company of Frost Investment Advisors, LLC, in 2006 and has over 18 years of investment experience. His primary responsibilities include managing all trading and analysis for the fixed income efforts. Today, Jeffery draws on his experience to lead the fixed income investment strategy and oversees a team of traders and analysts in the research process. Jeffery provides thought leadership on the economy and investment climate to clients and the firm. Prior to joining the Adviser, Jeffery served as a fixed income portfolio manager, analyst and trader at Capital One Financial Corporation for six years. He received a Master of Science in Finance degree from Texas A&M University and a Bachelor of Business Administration in Finance and Accounting degree from Texas A&M University – Commerce.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |