Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-0.1%
1 yr return
2.2%
3 Yr Avg Return
-0.9%
5 Yr Avg Return
0.5%
Net Assets
$63.9 M
Holdings in Top 10
20.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.92%
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
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
VMTIX - Profile
Distributions
- YTD Total Return -0.1%
- 3 Yr Annualized Total Return -0.9%
- 5 Yr Annualized Total Return 0.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.90%
- Dividend Yield 2.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameViking Tax-Free Fund for Montana
-
Fund Family NameIntegrity Viking Funds
-
Inception DateAug 01, 2016
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerShannon Radke
Fund Description
To pursue its objective, the Fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in municipal securities that pay interest free from (a) federal income taxes, including the federal alternative minimum tax, and (b) Montana personal income taxes.
Municipal bonds are debt securities issued by or on behalf of states, territories, and possessions of the United States and their political subdivisions, agencies, authorities, and instrumentalities. The two general classifications of municipal bonds are "general obligation" and "revenue" bonds. General obligation bonds are secured by the issuer's pledge of its faith, credit, and taxing power for the payment of principal and interest. Revenue bonds are payable only from the revenues derived from a particular facility or class of facilities or, in some cases, from the proceeds of a special excise tax or other specific revenue source.
The investment manager actively manages the Fund's portfolio by selecting securities that it believes will provide the best balance between risk and return within the Fund's range of allowable investments. The investment manager will consider selling a security with deteriorating credit or limited upside potential compared to other available bonds.
The Fund may invest up to 30% of its net assets in U.S. territorial obligations (including qualifying obligations of Puerto Rico, the U.S. Virgin Islands, and Guam), the interest on which is exempt from federal and Montana personal income taxes. The Fund may invest up to 20% of its net assets in private activity bonds (which are revenue bonds that finance privately operated facilities), the interest on which is a tax preference item for purposes of the federal alternative minimum tax.
The Fund may invest more than 25% of its net assets in municipal securities that finance similar types of projects, such as education, healthcare, housing, industrial development, transportation, utilities, or pollution control. Economic, business, political, or other changes that affect a type of project can similarly affect all securities of a similar type related to these projects. The Fund is non-diversified. This means that the Fund may invest a larger percentage of its assets in more limited number of issuers than a diversified fund.
All of the municipal securities in which the Fund invests are rated investment grade (BBB- or higher) at the time of purchase by a nationally recognized statistical rating organization such as S&P Global Ratings or Moody's Investors Service, Inc. or are of comparable quality as determined by the Fund's investment manager. If, subsequent to the purchase of a municipal security, the rating of a municipal security falls below investment grade, the Fund will not be required to dispose of the security.
Under normal circumstances, the Fund will maintain an average stated maturity at between five and twenty-five years.
VMTIX - Performance
Return Ranking - Trailing
Period | VMTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.1% | -2.4% | 12.5% | 79.91% |
1 Yr | 2.2% | -2.6% | 37.8% | 85.78% |
3 Yr | -0.9%* | -10.1% | 3.1% | 64.90% |
5 Yr | 0.5%* | -5.6% | 1103.2% | 78.67% |
10 Yr | N/A* | -0.2% | 248.4% | 68.95% |
* Annualized
Return Ranking - Calendar
Period | VMTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.6% | -1.4% | 41.0% | 83.81% |
2022 | -10.4% | -39.7% | 0.3% | 39.09% |
2021 | -1.3% | -5.6% | 6.9% | 84.52% |
2020 | 2.1% | -2.6% | 310.0% | 32.93% |
2019 | 2.8% | 0.0% | 26.0% | 81.69% |
Total Return Ranking - Trailing
Period | VMTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.1% | -2.4% | 12.5% | 79.91% |
1 Yr | 2.2% | -2.6% | 37.8% | 85.78% |
3 Yr | -0.9%* | -10.1% | 3.1% | 64.90% |
5 Yr | 0.5%* | -5.6% | 1103.2% | 78.67% |
10 Yr | N/A* | -0.2% | 248.4% | 65.25% |
* Annualized
Total Return Ranking - Calendar
Period | VMTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.7% | -1.3% | 41.0% | 70.14% |
2022 | -8.2% | -39.7% | 1.1% | 37.91% |
2021 | 0.7% | -4.8% | 23761504.0% | 71.56% |
2020 | 3.5% | -1.5% | 17057.9% | 60.45% |
2019 | 5.6% | 0.2% | 3514.6% | 70.11% |
NAV & Total Return History
VMTIX - Holdings
Concentration Analysis
VMTIX | Category Low | Category High | VMTIX % Rank | |
---|---|---|---|---|
Net Assets | 63.9 M | 3.48 M | 68.1 B | 90.97% |
Number of Holdings | 118 | 2 | 12848 | 79.51% |
Net Assets in Top 10 | 12.7 M | -317 M | 3.4 B | 92.91% |
Weighting of Top 10 | 20.11% | 1.9% | 100.4% | 39.26% |
Top 10 Holdings
- Silver Bow County School District No 1 4.000% 07/01/2038 2.79%
- Yellowstone and Carbon Counties School District No 7-70 Laurel 5.000% 07/01/2042 2.27%
- Montana Facility Finance Authority 4.000% 01/01/2038 2.18%
- Montana Board of Housing 4.450% 12/01/2038 2.12%
- Montana Board of Housing 4.800% 12/01/2043 1.99%
- City of Billings MT Solid Waste System Revenue 3.500% 07/01/2039 1.96%
- Lake Missoula Sanders Counties Elementary School District No JT 8 5.000% 07/01/2043 1.95%
- Yellowstone County K-12 School District No 26 Lockwood 5.000% 07/01/2038 1.63%
- Montana Facility Finance Authority 5.000% 06/01/2028 1.62%
- Montana State Board of Regents 5.000% 11/15/2045 1.60%
Asset Allocation
Weighting | Return Low | Return High | VMTIX % Rank | |
---|---|---|---|---|
Bonds | 97.49% | 0.00% | 150.86% | 72.38% |
Cash | 2.51% | -50.86% | 50.09% | 24.94% |
Stocks | 0.00% | 0.00% | 99.80% | 77.78% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 75.19% |
Other | 0.00% | -8.54% | 33.35% | 73.58% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 74.90% |
Bond Sector Breakdown
Weighting | Return Low | Return High | VMTIX % Rank | |
---|---|---|---|---|
Municipal | 100.00% | 44.39% | 100.00% | 7.89% |
Derivative | 0.00% | -8.54% | 23.38% | 72.23% |
Cash & Equivalents | 0.00% | 0.00% | 48.02% | 89.24% |
Securitized | 0.00% | 0.00% | 5.93% | 74.77% |
Corporate | 0.00% | 0.00% | 9.41% | 79.75% |
Government | 0.00% | 0.00% | 52.02% | 76.97% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | VMTIX % Rank | |
---|---|---|---|---|
US | 97.49% | 0.00% | 142.23% | 69.14% |
Non US | 0.00% | 0.00% | 23.89% | 77.13% |
VMTIX - Expenses
Operational Fees
VMTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.92% | 0.01% | 20.65% | 33.48% |
Management Fee | 0.50% | 0.00% | 1.20% | 86.28% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
VMTIX 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
VMTIX 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.
VMTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 283.00% | 24.16% |
VMTIX - Distributions
Dividend Yield Analysis
VMTIX | Category Low | Category High | VMTIX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.76% | 0.00% | 14.36% | 47.26% |
Dividend Distribution Analysis
VMTIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
VMTIX | Category Low | Category High | VMTIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.90% | -0.53% | 5.33% | 52.45% |
Capital Gain Distribution Analysis
VMTIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 01, 2024 | $0.021 | DailyAccrualFund |
Feb 01, 2024 | $0.022 | DailyAccrualFund |
Jan 02, 2024 | $0.023 | DailyAccrualFund |
Dec 01, 2023 | $0.022 | DailyAccrualFund |
Nov 01, 2023 | $0.023 | DailyAccrualFund |
Oct 02, 2023 | $0.022 | DailyAccrualFund |
Sep 01, 2023 | $0.022 | DailyAccrualFund |
Aug 01, 2023 | $0.022 | DailyAccrualFund |
Jul 03, 2023 | $0.020 | DailyAccrualFund |
Jun 01, 2023 | $0.021 | DailyAccrualFund |
May 01, 2023 | $0.020 | DailyAccrualFund |
Apr 03, 2023 | $0.021 | DailyAccrualFund |
Mar 01, 2023 | $0.018 | DailyAccrualFund |
Feb 01, 2023 | $0.020 | DailyAccrualFund |
Jan 03, 2023 | $0.020 | DailyAccrualFund |
Dec 01, 2022 | $0.020 | DailyAccrualFund |
Nov 01, 2022 | $0.019 | DailyAccrualFund |
Oct 03, 2022 | $0.018 | DailyAccrualFund |
Sep 01, 2022 | $0.018 | DailyAccrualFund |
Aug 01, 2022 | $0.018 | DailyAccrualFund |
Jul 01, 2022 | $0.018 | DailyAccrualFund |
Jun 01, 2022 | $0.017 | DailyAccrualFund |
May 02, 2022 | $0.016 | DailyAccrualFund |
Apr 01, 2022 | $0.016 | DailyAccrualFund |
Mar 01, 2022 | $0.014 | DailyAccrualFund |
Feb 01, 2022 | $0.016 | DailyAccrualFund |
Jan 03, 2022 | $0.016 | DailyAccrualFund |
Dec 01, 2021 | $0.017 | DailyAccrualFund |
Nov 01, 2021 | $0.016 | DailyAccrualFund |
Oct 01, 2021 | $0.014 | DailyAccrualFund |
Sep 01, 2021 | $0.014 | DailyAccrualFund |
Aug 02, 2021 | $0.014 | DailyAccrualFund |
Jul 01, 2021 | $0.015 | DailyAccrualFund |
Jun 01, 2021 | $0.016 | DailyAccrualFund |
May 03, 2021 | $0.016 | DailyAccrualFund |
Apr 01, 2021 | $0.016 | DailyAccrualFund |
Mar 01, 2021 | $0.015 | DailyAccrualFund |
Feb 01, 2021 | $0.017 | DailyAccrualFund |
Jan 04, 2021 | $0.018 | DailyAccrualFund |
Dec 01, 2020 | $0.018 | DailyAccrualFund |
Nov 02, 2020 | $0.017 | DailyAccrualFund |
Oct 01, 2020 | $0.017 | DailyAccrualFund |
Sep 01, 2020 | $0.017 | DailyAccrualFund |
Aug 03, 2020 | $0.017 | DailyAccrualFund |
Jul 01, 2020 | $0.018 | DailyAccrualFund |
Jun 01, 2020 | $0.020 | DailyAccrualFund |
May 01, 2020 | $0.020 | DailyAccrualFund |
Apr 01, 2020 | $0.021 | DailyAccrualFund |
Mar 02, 2020 | $0.019 | DailyAccrualFund |
Feb 03, 2020 | $0.021 | DailyAccrualFund |
Jan 02, 2020 | $0.022 | DailyAccrualFund |
Dec 02, 2019 | $0.022 | DailyAccrualFund |
Nov 01, 2019 | $0.023 | DailyAccrualFund |
Oct 01, 2019 | $0.022 | DailyAccrualFund |
Sep 03, 2019 | $0.022 | DailyAccrualFund |
Aug 01, 2019 | $0.022 | DailyAccrualFund |
Jul 01, 2019 | $0.023 | OrdinaryDividend |
Jun 03, 2019 | $0.024 | DailyAccrualFund |
Apr 01, 2019 | $0.024 | DailyAccrualFund |
Mar 01, 2019 | $0.021 | DailyAccrualFund |
Feb 01, 2019 | $0.024 | DailyAccrualFund |
Jan 02, 2019 | $0.024 | DailyAccrualFund |
Dec 03, 2018 | $0.023 | DailyAccrualFund |
Nov 01, 2018 | $0.024 | DailyAccrualFund |
Sep 04, 2018 | $0.023 | DailyAccrualFund |
Aug 01, 2018 | $0.023 | DailyAccrualFund |
Jul 02, 2018 | $0.022 | DailyAccrualFund |
Jun 01, 2018 | $0.024 | DailyAccrualFund |
May 01, 2018 | $0.023 | DailyAccrualFund |
Apr 02, 2018 | $0.024 | DailyAccrualFund |
Mar 01, 2018 | $0.021 | DailyAccrualFund |
Feb 01, 2018 | $0.024 | DailyAccrualFund |
Jan 02, 2018 | $0.021 | DailyAccrualFund |
Dec 01, 2017 | $0.022 | DailyAccrualFund |
VMTIX - Fund Manager Analysis
Managers
Shannon Radke
Start Date
Tenure
Tenure Rank
Aug 03, 1999
22.84
22.8%
Mr. Radke is a governor and president of Viking Management and a governor of Corridor. He holds a Bachelor of Business Administration degree in Banking and Finance from the University of North Dakota and has been engaged in the securities business since 1988 as a broker and as operations manager and later as chief operating officer of an unrelated investment advisory firm. Mr. Radke founded Viking Management in September 1998 and has been a portfolio manager for years.
Joshua Larson
Start Date
Tenure
Tenure Rank
Apr 30, 2015
7.09
7.1%
Mr. Larson received Bachelor of Science degrees in finance and management from Minot State University in 2010 and joined the Integrity Viking Funds in October 2010. Initially, he served as a fund accountant and as a research analyst for certain funds advised by Viking Management. Since May 2012, Mr. Larson has served as a co-portfolio manager.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |