Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-0.7%
1 yr return
0.4%
3 Yr Avg Return
-1.9%
5 Yr Avg Return
-0.4%
Net Assets
$439 M
Holdings in Top 10
14.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.56%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 13.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ORTCX - Profile
Distributions
- YTD Total Return -0.7%
- 3 Yr Annualized Total Return -1.9%
- 5 Yr Annualized Total Return -0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.56%
- Dividend Yield 1.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAquila Tax-Free Trust of Oregon
-
Fund Family NameAquila Group of Funds
-
Inception DateJul 29, 2014
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChristopher Johns
Fund Description
Under normal circumstances, at least 80% of the Fund’s net assets will be invested in municipal obligations that pay interest exempt, in the opinion of bond counsel, from Oregon state and regular Federal income taxes, the income paid upon which will not be subject to the Federal alternative minimum tax on individuals. In general, almost all of these obligations are issued by the State of Oregon, its counties and various other local authorities; these obligations may also include certain other governmental issuers. We call these “Oregon Obligations.” These securities may include participation or other interests in municipal securities and variable rate demand notes. Some Oregon Obligations, such as general obligation issues, are backed by the issuer’s taxing authority, while other Oregon Obligations, such as revenue bonds, are backed only by revenues from certain facilities or other sources and not by the issuer itself. These obligations can be of any maturity, but the Fund’s weighted average maturity has traditionally been between 5 and 15 years. The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940 (the “1940 Act”), which means it may invest a greater percentage of its assets in a smaller number of issuers than a diversified fund.
At the time of purchase, the Fund’s Oregon Obligations must be of investment grade quality. This means that they must either
· | be rated within the four highest credit ratings assigned by nationally recognized statistical rating organizations or, |
· | if unrated, be determined to be of comparable quality by the Fund’s Manager, Aquila Investment Management LLC. |
The Manager selects obligations for the Fund’s portfolio in order to achieve the Fund’s objective by considering various characteristics including quality, maturity and coupon rate.
ORTCX - Performance
Return Ranking - Trailing
Period | ORTCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.7% | -2.7% | 12.2% | 94.19% |
1 Yr | 0.4% | -3.0% | 38.5% | 97.48% |
3 Yr | -1.9%* | -10.3% | 3.3% | 91.01% |
5 Yr | -0.4%* | -5.7% | 1102.9% | 94.53% |
10 Yr | N/A* | -0.2% | 248.3% | 96.32% |
* Annualized
Return Ranking - Calendar
Period | ORTCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.5% | -1.4% | 41.0% | 88.67% |
2022 | -8.0% | -39.7% | 0.3% | 20.04% |
2021 | -1.9% | -5.6% | 6.9% | 96.96% |
2020 | 2.5% | -2.6% | 310.0% | 16.29% |
2019 | 3.1% | 0.0% | 26.0% | 77.18% |
Total Return Ranking - Trailing
Period | ORTCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.7% | -2.7% | 12.2% | 94.19% |
1 Yr | 0.4% | -3.0% | 38.5% | 97.48% |
3 Yr | -1.9%* | -10.3% | 3.3% | 91.01% |
5 Yr | -0.4%* | -5.7% | 1102.9% | 94.53% |
10 Yr | N/A* | -0.2% | 248.3% | 95.52% |
* Annualized
Total Return Ranking - Calendar
Period | ORTCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.5% | -1.3% | 41.0% | 98.96% |
2022 | -7.1% | -39.7% | 1.1% | 27.92% |
2021 | -1.3% | -4.8% | 23761504.0% | 98.54% |
2020 | 3.3% | -1.5% | 17057.9% | 65.65% |
2019 | 3.7% | 0.2% | 3514.6% | 89.18% |
NAV & Total Return History
ORTCX - Holdings
Concentration Analysis
ORTCX | Category Low | Category High | ORTCX % Rank | |
---|---|---|---|---|
Net Assets | 439 M | 3.48 M | 68.1 B | 49.19% |
Number of Holdings | 218 | 2 | 12848 | 53.41% |
Net Assets in Top 10 | 62.6 M | -317 M | 3.4 B | 56.70% |
Weighting of Top 10 | 14.69% | 1.9% | 100.4% | 64.35% |
Top 10 Holdings
- State of Oregon Department of Transportation 1.91%
- City of Portland OR Sewer System Revenue 1.70%
- Jackson County School District No 5 Ashland 1.53%
- Dreyfus Treasury Obligations Cash Management Fund 1.48%
- Oregon Health Science University 1.47%
- Multnomah County School District No 7 Reynolds 1.37%
- Clackamas Washington Counties School District No 3 1.33%
- City of Portland OR Sewer System Revenue 1.32%
- Salem-Keizer School District No 24J 1.30%
- State of Oregon Department of Transportation 1.27%
Asset Allocation
Weighting | Return Low | Return High | ORTCX % Rank | |
---|---|---|---|---|
Bonds | 98.07% | 0.00% | 150.86% | 61.62% |
Cash | 1.93% | -50.86% | 50.09% | 34.92% |
Stocks | 0.00% | 0.00% | 99.80% | 37.80% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 30.35% |
Other | 0.00% | -8.54% | 33.35% | 36.79% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 30.27% |
Bond Sector Breakdown
Weighting | Return Low | Return High | ORTCX % Rank | |
---|---|---|---|---|
Municipal | 99.45% | 44.39% | 100.00% | 30.98% |
Cash & Equivalents | 1.48% | 0.00% | 48.02% | 23.39% |
Derivative | 0.00% | -8.54% | 23.38% | 33.83% |
Securitized | 0.00% | 0.00% | 5.93% | 31.18% |
Corporate | 0.00% | 0.00% | 9.41% | 42.24% |
Government | 0.00% | 0.00% | 52.02% | 36.35% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | ORTCX % Rank | |
---|---|---|---|---|
US | 98.07% | 0.00% | 142.23% | 58.63% |
Non US | 0.00% | 0.00% | 23.89% | 38.53% |
ORTCX - Expenses
Operational Fees
ORTCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.56% | 0.01% | 20.65% | 12.00% |
Management Fee | 0.40% | 0.00% | 1.20% | 39.67% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 85.91% |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
ORTCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | 1.00% | 0.25% | 5.00% | 37.79% |
Trading Fees
ORTCX 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.
ORTCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 13.00% | 0.00% | 283.00% | 33.85% |
ORTCX - Distributions
Dividend Yield Analysis
ORTCX | Category Low | Category High | ORTCX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.22% | 0.00% | 14.36% | 94.91% |
Dividend Distribution Analysis
ORTCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
ORTCX | Category Low | Category High | ORTCX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.56% | -0.53% | 5.33% | 95.56% |
Capital Gain Distribution Analysis
ORTCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.011 | OrdinaryDividend |
Jan 31, 2024 | $0.011 | DailyAccrualFund |
Dec 29, 2023 | $0.011 | DailyAccrualFund |
Nov 30, 2023 | $0.010 | DailyAccrualFund |
Oct 31, 2023 | $0.010 | DailyAccrualFund |
Sep 29, 2023 | $0.010 | DailyAccrualFund |
Aug 31, 2023 | $0.010 | DailyAccrualFund |
Jul 31, 2023 | $0.009 | DailyAccrualFund |
Jun 30, 2023 | $0.009 | DailyAccrualFund |
May 31, 2023 | $0.009 | DailyAccrualFund |
Apr 28, 2023 | $0.008 | DailyAccrualFund |
Mar 31, 2023 | $0.009 | DailyAccrualFund |
Feb 28, 2023 | $0.008 | DailyAccrualFund |
Jan 31, 2023 | $0.008 | DailyAccrualFund |
Dec 30, 2022 | $0.008 | DailyAccrualFund |
Dec 28, 2022 | $0.007 | DailyAccrualFund |
Nov 30, 2022 | $0.008 | DailyAccrualFund |
Oct 31, 2022 | $0.008 | DailyAccrualFund |
Sep 30, 2022 | $0.007 | DailyAccrualFund |
Aug 31, 2022 | $0.007 | DailyAccrualFund |
Jul 29, 2022 | $0.007 | DailyAccrualFund |
Jun 30, 2022 | $0.007 | DailyAccrualFund |
May 31, 2022 | $0.007 | DailyAccrualFund |
Apr 29, 2022 | $0.006 | DailyAccrualFund |
Mar 31, 2022 | $0.006 | DailyAccrualFund |
Feb 28, 2022 | $0.005 | DailyAccrualFund |
Jan 31, 2022 | $0.005 | DailyAccrualFund |
Dec 31, 2021 | $0.005 | DailyAccrualFund |
Nov 30, 2021 | $0.005 | DailyAccrualFund |
Oct 29, 2021 | $0.005 | DailyAccrualFund |
Sep 30, 2021 | $0.005 | DailyAccrualFund |
Aug 31, 2021 | $0.005 | DailyAccrualFund |
Jul 30, 2021 | $0.005 | DailyAccrualFund |
Jun 30, 2021 | $0.005 | DailyAccrualFund |
May 28, 2021 | $0.006 | DailyAccrualFund |
Apr 30, 2021 | $0.006 | DailyAccrualFund |
Mar 31, 2021 | $0.006 | DailyAccrualFund |
Feb 26, 2021 | $0.005 | DailyAccrualFund |
Jan 29, 2021 | $0.006 | DailyAccrualFund |
Dec 31, 2020 | $0.006 | DailyAccrualFund |
Nov 30, 2020 | $0.006 | DailyAccrualFund |
Oct 30, 2020 | $0.006 | DailyAccrualFund |
Sep 30, 2020 | $0.007 | DailyAccrualFund |
Aug 31, 2020 | $0.007 | DailyAccrualFund |
Jul 31, 2020 | $0.007 | DailyAccrualFund |
Jun 30, 2020 | $0.008 | DailyAccrualFund |
May 29, 2020 | $0.008 | DailyAccrualFund |
Apr 30, 2020 | $0.009 | DailyAccrualFund |
Mar 31, 2020 | $0.009 | DailyAccrualFund |
Feb 28, 2020 | $0.008 | DailyAccrualFund |
Jan 31, 2020 | $0.009 | DailyAccrualFund |
Dec 31, 2019 | $0.000 | DailyAccrualFund |
Nov 29, 2019 | $0.000 | DailyAccrualFund |
Oct 31, 2019 | $0.000 | DailyAccrualFund |
Sep 30, 2019 | $0.000 | DailyAccrualFund |
Aug 30, 2019 | $0.000 | DailyAccrualFund |
Jul 31, 2019 | $0.000 | DailyAccrualFund |
Jun 28, 2019 | $0.010 | OrdinaryDividend |
May 31, 2019 | $0.011 | DailyAccrualFund |
Apr 30, 2019 | $0.011 | DailyAccrualFund |
Mar 29, 2019 | $0.012 | DailyAccrualFund |
Feb 28, 2019 | $0.011 | DailyAccrualFund |
Jan 31, 2019 | $0.013 | DailyAccrualFund |
Dec 31, 2018 | $0.013 | DailyAccrualFund |
Nov 30, 2018 | $0.012 | DailyAccrualFund |
Oct 31, 2018 | $0.013 | DailyAccrualFund |
Aug 31, 2018 | $0.013 | DailyAccrualFund |
Jul 31, 2018 | $0.013 | DailyAccrualFund |
Jun 29, 2018 | $0.013 | DailyAccrualFund |
May 31, 2018 | $0.014 | DailyAccrualFund |
Apr 30, 2018 | $0.013 | DailyAccrualFund |
Mar 29, 2018 | $0.014 | DailyAccrualFund |
Feb 28, 2018 | $0.013 | DailyAccrualFund |
Jan 31, 2018 | $0.014 | DailyAccrualFund |
Dec 29, 2017 | $0.015 | DailyAccrualFund |
Nov 27, 2017 | $0.014 | DailyAccrualFund |
Oct 26, 2017 | $0.013 | DailyAccrualFund |
Sep 26, 2017 | $0.013 | DailyAccrualFund |
Aug 28, 2017 | $0.015 | DailyAccrualFund |
Jul 26, 2017 | $0.013 | DailyAccrualFund |
Jun 26, 2017 | $0.014 | DailyAccrualFund |
May 25, 2017 | $0.014 | DailyAccrualFund |
Apr 25, 2017 | $0.013 | DailyAccrualFund |
Mar 28, 2017 | $0.016 | DailyAccrualFund |
Feb 23, 2017 | $0.013 | DailyAccrualFund |
Jan 26, 2017 | $0.012 | DailyAccrualFund |
Dec 30, 2016 | $0.015 | DailyAccrualFund |
Nov 28, 2016 | $0.015 | DailyAccrualFund |
Oct 26, 2016 | $0.014 | DailyAccrualFund |
Sep 26, 2016 | $0.015 | DailyAccrualFund |
Aug 25, 2016 | $0.014 | DailyAccrualFund |
Jul 26, 2016 | $0.015 | DailyAccrualFund |
Jun 24, 2016 | $0.014 | DailyAccrualFund |
May 25, 2016 | $0.015 | DailyAccrualFund |
Apr 25, 2016 | $0.014 | DailyAccrualFund |
Mar 28, 2016 | $0.016 | DailyAccrualFund |
Feb 25, 2016 | $0.015 | DailyAccrualFund |
Jan 27, 2016 | $0.014 | DailyAccrualFund |
Dec 31, 2015 | $0.020 | DailyAccrualFund |
Dec 01, 2015 | $0.037 | DailyAccrualFund |
Nov 24, 2015 | $0.016 | DailyAccrualFund |
Oct 26, 2015 | $0.018 | DailyAccrualFund |
Sep 24, 2015 | $0.017 | DailyAccrualFund |
Sep 01, 2015 | $0.018 | DailyAccrualFund |
Aug 26, 2015 | $0.018 | DailyAccrualFund |
Jul 27, 2015 | $0.019 | DailyAccrualFund |
Jun 24, 2015 | $0.018 | DailyAccrualFund |
May 26, 2015 | $0.018 | DailyAccrualFund |
Apr 27, 2015 | $0.020 | DailyAccrualFund |
Mar 26, 2015 | $0.018 | DailyAccrualFund |
Feb 25, 2015 | $0.019 | DailyAccrualFund |
Jan 27, 2015 | $0.017 | DailyAccrualFund |
Dec 31, 2014 | $0.022 | DailyAccrualFund |
Nov 26, 2014 | $0.019 | DailyAccrualFund |
Oct 28, 2014 | $0.021 | DailyAccrualFund |
Sep 25, 2014 | $0.019 | DailyAccrualFund |
Aug 26, 2014 | $0.022 | DailyAccrualFund |
ORTCX - Fund Manager Analysis
Managers
Christopher Johns
Start Date
Tenure
Tenure Rank
Jan 03, 2011
11.41
11.4%
Mr. Christopher has served as the portfolio manager of Aquila Tax- Free Trust of Oregon since 2011. Mr. Johns is a Senior Vice President of the Davidson Fixed Income Management, Inc. and has been an officer of it and its predecessor companies since 1992. From 1984 through 1992, he was a portfolio manager at the former United Bank of Denver, which acted as investment adviser to the Fund from its inception through 1992. He was formerly a portfolio manager of Toledo Trust Company. He holds the degree of BBA in Finance from the University of Cincinnati
Timothy Iltz
Start Date
Tenure
Tenure Rank
Mar 27, 2018
4.18
4.2%
Tim Iltz is a municipal bond credit analyst with over 13 years of experience in the fixed income industry. He is responsible for the ongoing analysis of existing holdings of the Tax-Free Trust of Oregon and Oregon municipal bond underwritings to recommend whether they should be included as part of client portfolios. Prior to joining the firm, he worked in fixed income banking for Wedbush Securities in Portland and has over 11 years of public finance investment banking experience including the full spectrum of bond issues available to local governments. Tim earned a BS in finance and business administration with a minor in economics from the University of Oregon.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |