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Trending ETFs

Name

As of 07/12/2024

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

$22.17

$18.5 M

2.45%

$0.54

0.25%

Vitals

YTD Return

-0.5%

1 yr return

3.4%

3 Yr Avg Return

-3.0%

5 Yr Avg Return

N/A

Net Assets

$18.5 M

Holdings in Top 10

19.3%

52 WEEK LOW AND HIGH

$22.1
$20.48
$22.58

Expenses

OPERATING FEES

Expense Ratio 0.25%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 07/12/2024

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

$22.17

$18.5 M

2.45%

$0.54

0.25%

MINN - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -3.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Mairs & Power Minnesota Municipal Bond ETF
  • Fund Family Name
    N/A
  • Inception Date
    Mar 11, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brent Miller

Fund Description

Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (including borrowings for investment purposes) in municipal debt securities that pay interest that is exempt from regular federal income tax and Minnesota state income tax (collectively, “Municipal Securities”). Generally, these Municipal Securities are issued by or on behalf of the State of Minnesota and its political subdivisions, agencies, authorities and instrumentalities, and by other qualified issuers located in Minnesota. The Fund may invest up to 20% of its net assets in debt securities that pay interest subject to taxation, including the federal alternative minimum tax (“AMT”).
The Fund can invest in all types of Municipal Securities, including municipal lease obligations (and certificates of participation in such obligations), insured municipal bonds, municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds, and pre-refunded and
escrowed to maturity bonds. In addition, Municipal Securities include securities issued by custodial receipt trusts, which are investment vehicles the underlying assets of which are municipal bonds. Municipal Securities also include instruments evidencing direct ownership of interest payments or principal payments, or both, on municipal securities, such as tender option bonds and participation interests in all or part of specific holdings of municipal obligations, provided that the applicable issuer receives assurances from legal counsel that the interest payable on the securities is exempt from federal income tax. The Fund may invest in Municipal Securities of any duration and any maturity and does not seek to maintain a particular dollar-weighted average maturity. The Fund may purchase and sell securities on a when-issued, delayed delivery or forward commitment basis. The Fund may invest in other investment companies, including exchange-traded funds (“ETFs”), to obtain exposure to certain Municipal Securities, or for liquidity or other reasons. The Fund may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature.
Under normal market conditions, the Fund will invest at least 75% of its net assets in securities that are, at the time of investment, rated investment grade (i.e., rated Baa3/BBB- or above) by at least one nationally recognized statistical rating organization (“NRSRO”), but may invest up to 25% of its net assets at the time of investment in non-investment-grade securities, which are not in default (i.e., rated within B3/B- to Ba1/BB+, sometimes called “junk bonds”), as well as unrated securities. The Fund is not permitted to invest in securities that are rated below B3/B- or equivalent NRSRO ratings, or securities deemed either in default or near default by the Fund’s investment adviser, Mairs & Power, Inc. (the “Adviser”). The Fund will consider pre-refunded or escrowed-to maturity bonds using U.S. Treasury securities or U.S. government agency securities, regardless of rating, to be investment grade securities.
The Fund does not seek to replicate any index and is actively managed. The Adviser employs primarily a buy and hold strategy seeking income rather than capital returns. The Adviser conducts fundamental analysis on the issue prior to purchasing debt securities. The Adviser may choose to sell securities for a variety of reasons, such as deteriorating credit or to secure gains, limit losses, extend or shorten duration, or redeploy assets into more promising opportunities.
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MINN - Performance

Return Ranking - Trailing

Period MINN Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -86.8% 7.5% 89.09%
1 Yr 3.4% -48.9% 15.3% 85.46%
3 Yr -3.0%* -21.5% 51.9% N/A
5 Yr N/A* -5.9% 29.0% N/A
10 Yr N/A* -3.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period MINN Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% -91.1% 101.7% N/A
2022 -13.4% -79.2% 102.5% N/A
2021 N/A -66.1% 60.0% N/A
2020 N/A -57.4% 7.6% N/A
2019 N/A -35.9% 3.2% N/A

Total Return Ranking - Trailing

Period MINN Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -86.8% 7.5% 93.81%
1 Yr 3.4% -48.9% 15.4% 85.51%
3 Yr -3.0%* -21.5% 51.9% N/A
5 Yr N/A* -5.9% 29.0% N/A
10 Yr N/A* -3.6% 13.3% N/A

* Annualized

Total Return Ranking - Calendar

Period MINN Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -91.1% 101.7% N/A
2022 -12.3% -79.2% 102.5% N/A
2021 N/A -66.1% 60.0% N/A
2020 N/A -57.4% 7.6% N/A
2019 N/A -35.9% 3.2% N/A

MINN - Holdings

Concentration Analysis

MINN Category Low Category High MINN % Rank
Net Assets 18.5 M 2.87 M 73.9 B 97.55%
Number of Holdings 103 1 14000 70.32%
Net Assets in Top 10 3.73 M -317 M 8.64 B 72.65%
Weighting of Top 10 19.27% 2.4% 100.0% 28.22%

Top 10 Holdings

  1. Forest Lake Independent School District No 831 2.67%
  2. State of Minnesota 2.34%
  3. Anoka-Hennepin Independent School District No 11 2.18%
  4. City of Elk River MN Electric Revenue 1.86%
  5. Minnesota Higher Education Facilities Authority 1.75%
  6. North St Paul-Maplewood-Oakdale Independent School District No 622 1.74%
  7. Anoka-Hennepin Independent School District No 11 1.73%
  8. State of Minnesota 1.69%
  9. Alden-Conger Independent School District No 242 1.67%
  10. State of Minnesota 1.65%

Asset Allocation

Weighting Return Low Return High MINN % Rank
Bonds
98.97% 0.00% 150.86% 98.91%
Cash
1.34% -50.86% 100.00% 0.91%
Stocks
0.00% -0.03% 4.63% 69.21%
Preferred Stocks
0.00% -1.79% 0.04% 67.21%
Other
0.00% -13.03% 30.01% 67.49%
Convertible Bonds
0.00% 0.00% 0.93% 67.58%

Bond Sector Breakdown

Weighting Return Low Return High MINN % Rank
Cash & Equivalents
1.34% 0.00% 100.00% 0.96%
Derivative
0.00% 0.00% 21.68% 67.40%
Securitized
0.00% 0.00% 5.93% 68.13%
Corporate
0.00% 0.00% 9.99% 74.43%
Municipal
0.00% 0.00% 100.00% 98.72%
Government
0.00% 0.00% 52.02% 70.50%

Bond Geographic Breakdown

Weighting Return Low Return High MINN % Rank
US
98.97% 0.00% 142.23% 97.76%
Non US
0.00% 0.00% 62.14% 92.24%

MINN - Expenses

Operational Fees

MINN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.25% 0.02% 3.60% 68.51%
Management Fee 0.25% 0.00% 1.10% 36.79%
12b-1 Fee N/A 0.00% 1.00% 11.77%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MINN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.90% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

MINN 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.

MINN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 283.00% N/A

MINN - Distributions

Dividend Yield Analysis

MINN Category Low Category High MINN % Rank
Dividend Yield 2.45% 0.00% 35.27% 97.54%

Dividend Distribution Analysis

MINN Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

MINN Category Low Category High MINN % Rank
Net Income Ratio N/A -0.53% 24.00% 90.06%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MINN - Fund Manager Analysis

Managers

Brent Miller


Start Date

Tenure

Tenure Rank

Mar 11, 2021

1.22

1.2%

Mr. Miller has served as Assistant Portfolio Manager since joining Mairs & Power, Inc. in 2019. Mr. Miller began his career in 2011 as a fixed income analyst at The Travelers Companies in St. Paul, Minnesota from 2011 to 2019. Mr. Miller earned a BS from the University of Minnesota’s Carlson School of Management and went on to graduate with an MBA from Northwestern University’s Kellogg School of Management. He is a CFA charterholder.

Robert Thompson


Start Date

Tenure

Tenure Rank

Mar 11, 2021

1.22

1.2%

Robert W. Thompson, Vice President and Fixed Income Portfolio Manager of Mairs & Power, Inc. He was Vice President, Corporate Bonds at Advantus Capital Management from 2003 to 2016. Robert (Bob) W. Thompson joined the Adviser in 2016 and has served as Director of Fixed Income since July 1, 2019. He previously served as Vice President and Fixed Income Portfolio Manager since fall of 2016. He previously served as Assistant Vice President since joining the Adviser. Mr. Thompson has served as Co-Manager of the Balanced Fund since April 1, 2018. Prior to joining the Adviser, Mr. Thompson was Vice President, Corporate Bonds at Advantus Capital Management (now Securian Asset Management), in St. Paul, MN from 2003 to 2016 and before that he worked for Lutheran Brotherhood (now Thrivent Financial). Mr. Thompson earned a Bachelor of Accountancy from the University of North Dakota and a MBA in Finance from the University of Minnesota, Carlson School of Management. Mr. Thompson is a CFA charterholder and a Certified Public Accountant (inactive).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.21 1.58