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Trending ETFs

Name

As of 01/21/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.07

$546 M

0.00%

0.30%

Vitals

YTD Return

-0.2%

1 yr return

0.5%

3 Yr Avg Return

1.2%

5 Yr Avg Return

1.2%

Net Assets

$546 M

Holdings in Top 10

21.9%

52 WEEK LOW AND HIGH

$10.1
$10.07
$10.11

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

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 01/21/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.07

$546 M

0.00%

0.30%

MUISX - Profile

Distributions

  • YTD Total Return -0.2%
  • 3 Yr Annualized Total Return 1.2%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.64%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BMO Ultra Short Tax-Free Fund
  • Fund Family Name
    BMO Funds
  • Inception Date
    Sep 30, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Wimmel

Fund Description

Under normal circumstances, the Fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax (including the federal alternative minimum tax (AMT)). The Fund normally maintains an average dollar-weighted effective maturity of one year or less. Effective maturity takes into account the possibility that a bond may have prepayments or may be called by the issuer before its stated maturity date.
The Fund invests primarily in municipal securities within the investment grade category (i.e., rated BBB by Standard & Poor’s or Baa by Moody’s Investors Service, or higher, or unrated and considered by the Adviser to be comparable in quality) at the time of purchase. The Fund also may invest up to 10% of its assets in municipal securities that are below investment grade, also known as high yield securities or “junk bonds.” Municipal 
securities include fixed and floating rate debt obligations of states, territories, and possessions of the U.S., and political subdivisions and financing authorities of these entities that provide income exempt from federal income tax (although not necessarily exempt from federal AMT). Fund investments are selected after assessing factors such as the cyclical trend in interest rates, the shape of the municipal yield curve, tax rates, sector valuation, and municipal bond supply factors. The Adviser also integrates environmental, social, and governance (ESG) considerations into its investment process. 
From time to time, the Fund maintains a portion of its assets in cash. The Fund may increase its cash holdings in response to market conditions or in the event attractive investment opportunities are not available. 
Read More

MUISX - Performance

Return Ranking - Trailing

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.2% -88.5% 9.3% 9.75%
1 Yr 0.5% -20.5% 20.4% 81.70%
3 Yr 1.2%* -6.2% 11.7% 96.71%
5 Yr 1.2%* -3.5% 7.9% 95.61%
10 Yr 1.1%* -0.3% 8.6% 96.13%

* Annualized

Return Ranking - Calendar

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.1% -91.1% 101.7% 33.89%
2022 0.2% -79.8% 310.0% 84.25%
2021 0.2% -72.6% 15.4% 73.32%
2020 0.0% -57.4% 97.2% 18.49%
2019 0.1% -100.0% 6.8% 66.83%

Total Return Ranking - Trailing

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.2% -88.5% 9.3% 11.59%
1 Yr 0.5% -24.2% 24.2% 48.26%
3 Yr 1.2%* -7.0% 11.7% 90.73%
5 Yr 1.2%* -4.0% 7.9% 88.00%
10 Yr 1.1%* -0.8% 8.6% 95.65%

* Annualized

Total Return Ranking - Calendar

Period MUISX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.1% -91.1% 101.9% 33.97%
2022 0.2% -79.8% 310.0% 84.25%
2021 0.2% -72.6% 15.4% 73.32%
2020 0.0% -57.4% 11.0% 21.58%
2019 0.2% -100.0% 7.0% 67.11%

NAV & Total Return History


MUISX - Holdings

Concentration Analysis

MUISX Category Low Category High MUISX % Rank
Net Assets 546 M 863 K 88.8 B 47.03%
Number of Holdings 190 1 13143 45.69%
Net Assets in Top 10 121 M -306 M 3.57 B 26.08%
Weighting of Top 10 21.93% 2.3% 100.0% 49.34%

Top 10 Holdings

  1. WEST VIRGINIA ST HOSP FIN AUTH HOSP REV 0.12% 3.52%
  2. DELAWARE CNTY PA INDL DEV AUTH ARPT FACS REV 0.03% 3.35%
  3. TENDER OPT BD TR RCPTS / CTFS VAR STS 0.08% 2.73%
  4. NATIONAL FIN AUTH N H EXEMPT FACS REV 2% 2.69%
  5. WISCONSIN ST HEALTH & EDL FACS AUTH REV 0.15% 2.43%
  6. PORT ARTHUR TEX NAV DIST INDL DEV CORP EXEMPT FACS REV 0.08% 2.41%
  7. MISSISSIPPI BUSINESS FIN CORP GULF OPPORTUNITY ZONE REV 0.25% 2.35%
  8. NUVEEN INSD TAX-FREE ADVANTAGE MUN FD 0% 2.18%
  9. ESCAMBIA CNTY FLA SOLID WASTE DISP SYS REV 0.05% 2.18%
  10. ESCAMBIA CNTY FLA SOLID WASTE DISP SYS REV 0.22% 2.09%

Asset Allocation

Weighting Return Low Return High MUISX % Rank
Bonds
94.80% 46.14% 149.06% 86.99%
Cash
5.20% -45.79% 53.86% 12.86%
Stocks
0.00% 0.00% 3.53% 74.52%
Preferred Stocks
0.00% -3.40% 1.17% 71.57%
Other
0.00% -49.33% 30.00% 72.52%
Convertible Bonds
0.00% 0.00% 0.57% 72.76%

Bond Sector Breakdown

Weighting Return Low Return High MUISX % Rank
Municipal
94.80% 45.20% 100.00% 84.71%
Cash & Equivalents
5.20% 0.00% 53.86% 13.93%
Derivative
0.00% 0.00% 5.72% 72.68%
Securitized
0.00% 0.00% 7.06% 73.34%
Corporate
0.00% 0.00% 11.13% 77.50%
Government
0.00% 0.00% 50.78% 74.70%

Bond Geographic Breakdown

Weighting Return Low Return High MUISX % Rank
US
94.80% 0.00% 141.11% 73.92%
Non US
0.00% 0.00% 100.00% 94.52%

MUISX - Expenses

Operational Fees

MUISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.04% 4.23% 79.08%
Management Fee 0.17% 0.00% 1.60% 4.34%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.44% 69.96%

Sales Fees

MUISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

MUISX 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.

MUISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 261.23% 99.07%

MUISX - Distributions

Dividend Yield Analysis

MUISX Category Low Category High MUISX % Rank
Dividend Yield 0.00% 0.00% 35.27% 72.78%

Dividend Distribution Analysis

MUISX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MUISX Category Low Category High MUISX % Rank
Net Income Ratio 0.64% -1.30% 24.00% 95.37%

Capital Gain Distribution Analysis

MUISX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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MUISX - Fund Manager Analysis

Managers

Robert Wimmel


Start Date

Tenure

Tenure Rank

Aug 25, 2015

6.36

6.4%

Rob is the head of Tax-Exempt Fixed Income at BMO Global Asset Management. Rob began his career in the investment industry in 1992 and joined BMO Global Asset Management in 2015. Previously, Rob was head of investment-grade municipals at Invesco from 1996 to 2015. Rob holds an M.A. in economics from the University of Illinois at Chicago and a B.A. in anthropology cum laude from the University of Cincinnati.

Thomas Byron


Start Date

Tenure

Tenure Rank

Oct 13, 2015

6.22

6.2%

Tom is a senior portfolio manager on the BMO Tax-Exempt Fixed Income Team. Before joining BMO Global Asset Management in 2015, Tom was a senior portfolio manager at Invesco. He began his career in the investment industry as a unit trust administrator for Invesco in 1981. Tom holds an M.B.A. in finance from DePaul University and a B.S. in finance from Marquette University.

Brian Sipich


Start Date

Tenure

Tenure Rank

Oct 04, 2016

5.24

5.2%

Mr. Sipich joined BMO Asset Management Corp in 2015 where he serves as a Vice President and Portfolio Manager. Previously, Mr. Sipich was a quantitative analyst at Invesco Advisers and held various positions there since 2008. He is a CFA Charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 34.64 7.15 1.16