Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.6%
1 yr return
0.2%
3 Yr Avg Return
-2.3%
5 Yr Avg Return
-0.2%
Net Assets
$189 M
Holdings in Top 10
14.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.73%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 12.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NITCX - Profile
Distributions
- YTD Total Return -1.6%
- 3 Yr Annualized Total Return -2.3%
- 5 Yr Annualized Total Return -0.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.97%
- Dividend Yield 1.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAquila Narragansett Tax-Free Income Fund
-
Fund Family NameAquila Group of Funds
-
Inception DateJul 25, 2014
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey Hanna
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 Rhode Island 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, all or almost all of these obligations are issued by the State of Rhode Island, its counties and various other local authorities; these obligations may also include certain other governmental issuers. We call these “Rhode Island Obligations.” These securities may include participation or other interests in municipal securities and variable rate demand notes. Some Rhode Island Obligations, such as general obligation issues, are backed by the issuer’s taxing authority, while other Rhode Island 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 Rhode Island 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 Sub-Adviser, Clarfeld Financial Advisors, LLC, a wholly-owned subsidiary of Citizens Bank, N.A. (the “Sub-Adviser”). |
The Sub-Adviser 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.
NITCX - Performance
Return Ranking - Trailing
Period | NITCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.6% | -5.1% | 9.2% | 85.72% |
1 Yr | 0.2% | -5.0% | 27.9% | 93.96% |
3 Yr | -2.3%* | -11.4% | 2.7% | 84.88% |
5 Yr | -0.2%* | -6.3% | 1101.7% | 88.73% |
10 Yr | N/A* | -0.5% | 248.1% | 85.08% |
* Annualized
Return Ranking - Calendar
Period | NITCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.1% | -1.4% | 41.0% | 70.53% |
2022 | -9.1% | -39.7% | 0.3% | 27.51% |
2021 | -1.3% | -5.6% | 6.9% | 84.79% |
2020 | 1.9% | -2.6% | 310.0% | 40.39% |
2019 | 3.3% | 0.0% | 26.0% | 68.18% |
Total Return Ranking - Trailing
Period | NITCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.6% | -5.1% | 9.2% | 85.72% |
1 Yr | 0.2% | -5.0% | 27.9% | 93.96% |
3 Yr | -2.3%* | -11.4% | 2.7% | 84.88% |
5 Yr | -0.2%* | -6.3% | 1101.7% | 88.73% |
10 Yr | N/A* | -0.5% | 248.1% | 83.12% |
* Annualized
Total Return Ranking - Calendar
Period | NITCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.3% | -1.3% | 41.0% | 93.82% |
2022 | -8.0% | -39.7% | 1.1% | 36.54% |
2021 | -0.1% | -4.8% | 23761504.0% | 89.51% |
2020 | 4.3% | -1.5% | 17057.9% | 32.99% |
2019 | 4.1% | 0.2% | 3514.6% | 86.56% |
NAV & Total Return History
NITCX - Holdings
Concentration Analysis
NITCX | Category Low | Category High | NITCX % Rank | |
---|---|---|---|---|
Net Assets | 189 M | 3.22 M | 71.9 B | 71.76% |
Number of Holdings | 165 | 2 | 13067 | 68.16% |
Net Assets in Top 10 | 28.1 M | -317 M | 3.56 B | 79.35% |
Weighting of Top 10 | 14.76% | 2.0% | 100.2% | 63.99% |
Top 10 Holdings
- Rhode Island Health and Educational Building Corp 1.93%
- Providence Public Building Authority 1.90%
- Narragansett Bay Commission 1.67%
- Providence Public Building Authority 1.63%
- Rhode Island Health and Educational Building Corp 1.49%
- Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund 1.38%
- Rhode Island Health and Educational Building Corp 1.31%
- Town of Lincoln RI 1.18%
- Rhode Island Health and Educational Building Corp 1.13%
- Rhode Island Health and Educational Building Corp 1.13%
Asset Allocation
Weighting | Return Low | Return High | NITCX % Rank | |
---|---|---|---|---|
Bonds | 98.67% | 0.00% | 150.86% | 49.35% |
Cash | 1.33% | -50.86% | 46.80% | 47.18% |
Stocks | 0.00% | 0.00% | 99.81% | 36.80% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 28.22% |
Other | 0.00% | -3.18% | 33.35% | 35.73% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 27.42% |
Bond Sector Breakdown
Weighting | Return Low | Return High | NITCX % Rank | |
---|---|---|---|---|
Municipal | 98.44% | 44.39% | 100.00% | 48.28% |
Cash & Equivalents | 0.61% | 0.00% | 46.24% | 39.74% |
Corporate | 0.23% | 0.00% | 9.41% | 9.16% |
Derivative | 0.00% | -3.18% | 23.38% | 32.04% |
Securitized | 0.00% | 0.00% | 5.93% | 29.04% |
Government | 0.00% | 0.00% | 52.02% | 33.92% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | NITCX % Rank | |
---|---|---|---|---|
US | 98.67% | 0.00% | 142.23% | 46.73% |
Non US | 0.00% | 0.00% | 23.89% | 36.57% |
NITCX - Expenses
Operational Fees
NITCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.73% | 0.01% | 20.65% | 4.67% |
Management Fee | 0.50% | 0.00% | 1.20% | 81.89% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 86.03% |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
NITCX 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% | 35.43% |
Trading Fees
NITCX 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.
NITCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 12.00% | 0.00% | 283.00% | 29.49% |
NITCX - Distributions
Dividend Yield Analysis
NITCX | Category Low | Category High | NITCX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.31% | 0.00% | 14.28% | 94.63% |
Dividend Distribution Analysis
NITCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
NITCX | Category Low | Category High | NITCX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.97% | -0.53% | 5.33% | 87.36% |
Capital Gain Distribution Analysis
NITCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 31, 2024 | $0.011 | OrdinaryDividend |
Feb 29, 2024 | $0.010 | OrdinaryDividend |
Jan 31, 2024 | $0.010 | DailyAccrualFund |
Dec 29, 2023 | $0.011 | DailyAccrualFund |
Nov 30, 2023 | $0.011 | DailyAccrualFund |
Oct 31, 2023 | $0.011 | DailyAccrualFund |
Sep 29, 2023 | $0.010 | DailyAccrualFund |
Aug 31, 2023 | $0.011 | DailyAccrualFund |
Jul 31, 2023 | $0.010 | DailyAccrualFund |
Jun 30, 2023 | $0.010 | DailyAccrualFund |
May 31, 2023 | $0.010 | DailyAccrualFund |
Apr 28, 2023 | $0.010 | DailyAccrualFund |
Mar 31, 2023 | $0.010 | DailyAccrualFund |
Feb 28, 2023 | $0.009 | DailyAccrualFund |
Jan 31, 2023 | $0.010 | DailyAccrualFund |
Dec 30, 2022 | $0.010 | DailyAccrualFund |
Dec 28, 2022 | $0.003 | DailyAccrualFund |
Nov 30, 2022 | $0.010 | DailyAccrualFund |
Oct 31, 2022 | $0.010 | DailyAccrualFund |
Sep 30, 2022 | $0.009 | DailyAccrualFund |
Aug 31, 2022 | $0.009 | DailyAccrualFund |
Jul 29, 2022 | $0.009 | DailyAccrualFund |
Jun 30, 2022 | $0.009 | DailyAccrualFund |
May 31, 2022 | $0.009 | DailyAccrualFund |
Apr 29, 2022 | $0.009 | DailyAccrualFund |
Mar 31, 2022 | $0.009 | DailyAccrualFund |
Feb 28, 2022 | $0.008 | DailyAccrualFund |
Jan 31, 2022 | $0.009 | DailyAccrualFund |
Dec 31, 2021 | $0.008 | DailyAccrualFund |
Nov 30, 2021 | $0.008 | DailyAccrualFund |
Oct 29, 2021 | $0.009 | DailyAccrualFund |
Sep 30, 2021 | $0.009 | DailyAccrualFund |
Aug 31, 2021 | $0.009 | DailyAccrualFund |
Jul 30, 2021 | $0.009 | DailyAccrualFund |
Jun 30, 2021 | $0.009 | DailyAccrualFund |
May 28, 2021 | $0.010 | DailyAccrualFund |
Apr 30, 2021 | $0.010 | DailyAccrualFund |
Mar 31, 2021 | $0.010 | DailyAccrualFund |
Feb 26, 2021 | $0.009 | DailyAccrualFund |
Jan 29, 2021 | $0.010 | DailyAccrualFund |
Dec 31, 2020 | $0.020 | DailyAccrualFund |
Nov 30, 2020 | $0.020 | DailyAccrualFund |
Oct 30, 2020 | $0.021 | DailyAccrualFund |
Sep 30, 2020 | $0.020 | DailyAccrualFund |
Aug 31, 2020 | $0.021 | DailyAccrualFund |
Jul 31, 2020 | $0.021 | DailyAccrualFund |
Jun 30, 2020 | $0.020 | DailyAccrualFund |
May 29, 2020 | $0.022 | DailyAccrualFund |
Apr 30, 2020 | $0.021 | DailyAccrualFund |
Mar 31, 2020 | $0.022 | DailyAccrualFund |
Feb 28, 2020 | $0.021 | DailyAccrualFund |
Jan 31, 2020 | $0.022 | 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 | $0.013 | OrdinaryDividend |
May 31, 2019 | $0.014 | DailyAccrualFund |
Apr 30, 2019 | $0.014 | DailyAccrualFund |
Mar 29, 2019 | $0.015 | DailyAccrualFund |
Feb 28, 2019 | $0.013 | DailyAccrualFund |
Jan 31, 2019 | $0.015 | DailyAccrualFund |
Dec 31, 2018 | $0.015 | DailyAccrualFund |
Nov 30, 2018 | $0.015 | DailyAccrualFund |
Oct 31, 2018 | $0.015 | DailyAccrualFund |
Aug 31, 2018 | $0.015 | DailyAccrualFund |
Jul 31, 2018 | $0.015 | DailyAccrualFund |
Jun 29, 2018 | $0.015 | DailyAccrualFund |
May 31, 2018 | $0.015 | DailyAccrualFund |
Apr 30, 2018 | $0.015 | DailyAccrualFund |
Mar 29, 2018 | $0.015 | DailyAccrualFund |
Feb 28, 2018 | $0.014 | DailyAccrualFund |
Jan 31, 2018 | $0.015 | DailyAccrualFund |
Dec 29, 2017 | $0.017 | DailyAccrualFund |
Nov 27, 2017 | $0.016 | DailyAccrualFund |
Oct 26, 2017 | $0.015 | DailyAccrualFund |
Sep 26, 2017 | $0.014 | DailyAccrualFund |
Aug 28, 2017 | $0.016 | DailyAccrualFund |
Jul 26, 2017 | $0.015 | DailyAccrualFund |
Jun 26, 2017 | $0.016 | DailyAccrualFund |
May 25, 2017 | $0.015 | DailyAccrualFund |
Apr 25, 2017 | $0.014 | DailyAccrualFund |
Mar 28, 2017 | $0.017 | DailyAccrualFund |
Feb 23, 2017 | $0.015 | DailyAccrualFund |
Jan 26, 2017 | $0.014 | DailyAccrualFund |
Dec 30, 2016 | $0.017 | DailyAccrualFund |
Nov 28, 2016 | $0.017 | DailyAccrualFund |
Oct 26, 2016 | $0.015 | DailyAccrualFund |
Sep 26, 2016 | $0.016 | DailyAccrualFund |
Aug 25, 2016 | $0.015 | DailyAccrualFund |
Jul 26, 2016 | $0.017 | DailyAccrualFund |
Jun 24, 2016 | $0.015 | DailyAccrualFund |
May 25, 2016 | $0.016 | DailyAccrualFund |
Apr 25, 2016 | $0.014 | DailyAccrualFund |
Mar 28, 2016 | $0.016 | DailyAccrualFund |
Feb 25, 2016 | $0.016 | DailyAccrualFund |
Jan 27, 2016 | $0.015 | DailyAccrualFund |
Dec 31, 2015 | $0.021 | DailyAccrualFund |
Nov 24, 2015 | $0.016 | DailyAccrualFund |
Oct 26, 2015 | $0.018 | DailyAccrualFund |
Sep 24, 2015 | $0.017 | DailyAccrualFund |
Aug 26, 2015 | $0.017 | DailyAccrualFund |
Jul 27, 2015 | $0.019 | DailyAccrualFund |
Jun 24, 2015 | $0.017 | DailyAccrualFund |
May 26, 2015 | $0.017 | 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 | $0.018 | DailyAccrualFund |
Oct 28, 2014 | $0.021 | DailyAccrualFund |
Sep 25, 2014 | $0.020 | DailyAccrualFund |
Aug 26, 2014 | $0.022 | DailyAccrualFund |
NITCX - Fund Manager Analysis
Managers
Jeffrey Hanna
Start Date
Tenure
Tenure Rank
Dec 31, 2000
21.43
21.4%
Mr. Hanna, a Senior Vice President of Citizens Investment Advisors, has served as the portfolio manager or co-portfolio manager. Hanna is an officer of Citizens Investment Advisors. He has held this position since 2005. Hanna is a vice president within Citizens Investment Advisors' Investment Management Services Group, has been with the company since 1988.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |