Brown Advisory Tax-Exempt Bond Fund
Name
As of 07/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.4%
1 yr return
4.4%
3 Yr Avg Return
-0.5%
5 Yr Avg Return
1.1%
Net Assets
$880 M
Holdings in Top 10
21.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.44%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 47.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 07/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BTEIX - Profile
Distributions
- YTD Total Return 1.4%
- 3 Yr Annualized Total Return -0.5%
- 5 Yr Annualized Total Return 1.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.92%
- Dividend Yield 4.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBrown Advisory Tax-Exempt Bond Fund
-
Fund Family NameBrown Advisory Funds
-
Inception DateJun 29, 2012
-
Shares Outstanding89229441
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Shutz
Fund Description
BTEIX - Performance
Return Ranking - Trailing
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.4% | -3.1% | 18.1% | 38.62% |
1 Yr | 4.4% | -3.1% | 29.3% | 23.96% |
3 Yr | -0.5%* | -11.5% | 3.1% | 22.49% |
5 Yr | 1.1%* | -6.6% | 1102.5% | 22.31% |
10 Yr | N/A* | -0.7% | 248.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.9% | -1.4% | 41.0% | 42.70% |
2022 | -11.5% | -39.7% | 0.3% | 50.13% |
2021 | -0.1% | -5.6% | 6.9% | 33.16% |
2020 | 0.7% | -2.6% | 310.0% | 88.66% |
2019 | 4.3% | 0.0% | 26.0% | 32.98% |
Total Return Ranking - Trailing
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.4% | -3.1% | 18.1% | 38.62% |
1 Yr | 4.4% | -3.1% | 29.3% | 23.96% |
3 Yr | -0.5%* | -11.5% | 3.1% | 22.49% |
5 Yr | 1.1%* | -6.6% | 1102.5% | 22.31% |
10 Yr | N/A* | -0.7% | 248.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | BTEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.4% | -1.3% | 41.0% | 11.72% |
2022 | -8.6% | -39.7% | 1.1% | 41.77% |
2021 | 3.2% | -4.8% | 23761504.0% | 14.17% |
2020 | 3.4% | -1.5% | 17057.9% | 64.69% |
2019 | 4.3% | 0.2% | 3514.6% | 85.54% |
NAV & Total Return History
BTEIX - Holdings
Concentration Analysis
BTEIX | Category Low | Category High | BTEIX % Rank | |
---|---|---|---|---|
Net Assets | 880 M | 3.22 M | 71.9 B | 31.83% |
Number of Holdings | 165 | 2 | 13203 | 68.45% |
Net Assets in Top 10 | 190 M | -317 M | 3.56 B | 22.14% |
Weighting of Top 10 | 21.39% | 1.4% | 100.2% | 35.16% |
Top 10 Holdings
- Main Street Natural Gas Inc 3.25%
- Tobacco Settlement Financing Corp/RI 2.66%
- Chandler Industrial Development Authority 2.65%
- Black Belt Energy Gas District 2.62%
- Love Field Airport Modernization Corp 2.02%
- Clayton County Development Authority 1.76%
- Massachusetts Health Educational Facilities Authority 1.69%
- New York State Urban Development Corp 1.61%
- Illinois State Toll Highway Authority 1.59%
- Lancaster Port Authority 1.54%
Asset Allocation
Weighting | Return Low | Return High | BTEIX % Rank | |
---|---|---|---|---|
Bonds | 98.09% | 0.00% | 150.86% | 62.66% |
Cash | 1.91% | -50.86% | 46.80% | 34.88% |
Stocks | 0.00% | 0.00% | 100.23% | 96.15% |
Preferred Stocks | 0.00% | 0.00% | 0.56% | 95.89% |
Other | 0.00% | -3.18% | 33.35% | 90.20% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 95.87% |
Bond Sector Breakdown
Weighting | Return Low | Return High | BTEIX % Rank | |
---|---|---|---|---|
Municipal | 96.88% | 44.39% | 100.00% | 66.75% |
Cash & Equivalents | 1.06% | 0.00% | 46.24% | 30.63% |
Derivative | 0.00% | -3.18% | 19.67% | 89.94% |
Securitized | 0.00% | 0.00% | 5.93% | 96.39% |
Corporate | 0.00% | 0.00% | 9.41% | 97.38% |
Government | 0.00% | 0.00% | 52.02% | 96.20% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | BTEIX % Rank | |
---|---|---|---|---|
US | 98.09% | 0.00% | 142.23% | 60.22% |
Non US | 0.00% | 0.00% | 23.89% | 95.89% |
BTEIX - Expenses
Operational Fees
BTEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.44% | 0.01% | 20.65% | 89.08% |
Management Fee | 0.30% | 0.00% | 1.20% | 17.69% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
BTEIX 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
BTEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 1.00% | 1.00% | 66.67% |
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.
BTEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 47.00% | 0.00% | 283.00% | 91.68% |
BTEIX - Distributions
Dividend Yield Analysis
BTEIX | Category Low | Category High | BTEIX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.99% | 0.00% | 14.51% | 1.76% |
Dividend Distribution Analysis
BTEIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
BTEIX | Category Low | Category High | BTEIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.92% | -0.53% | 5.33% | 51.88% |
Capital Gain Distribution Analysis
BTEIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.031 | OrdinaryDividend |
Mar 28, 2024 | $0.032 | OrdinaryDividend |
Feb 29, 2024 | $0.030 | OrdinaryDividend |
Jan 31, 2024 | $0.032 | OrdinaryDividend |
Dec 29, 2023 | $0.033 | OrdinaryDividend |
Nov 30, 2023 | $0.032 | OrdinaryDividend |
Oct 31, 2023 | $0.032 | OrdinaryDividend |
Sep 29, 2023 | $0.031 | OrdinaryDividend |
Aug 31, 2023 | $0.031 | OrdinaryDividend |
Jul 31, 2023 | $0.030 | OrdinaryDividend |
Jun 30, 2023 | $0.031 | OrdinaryDividend |
May 31, 2023 | $0.031 | OrdinaryDividend |
Apr 28, 2023 | $0.030 | OrdinaryDividend |
Mar 31, 2023 | $0.030 | OrdinaryDividend |
Feb 28, 2023 | $0.027 | OrdinaryDividend |
Jan 31, 2023 | $0.028 | OrdinaryDividend |
Dec 30, 2022 | $0.027 | OrdinaryDividend |
Nov 30, 2022 | $0.026 | OrdinaryDividend |
Oct 31, 2022 | $0.026 | OrdinaryDividend |
Sep 30, 2022 | $0.024 | OrdinaryDividend |
Aug 31, 2022 | $0.021 | OrdinaryDividend |
Jul 29, 2022 | $0.024 | OrdinaryDividend |
Jun 30, 2022 | $0.023 | OrdinaryDividend |
May 31, 2022 | $0.022 | OrdinaryDividend |
Apr 29, 2022 | $0.022 | OrdinaryDividend |
Mar 31, 2022 | $0.021 | OrdinaryDividend |
Feb 28, 2022 | $0.020 | OrdinaryDividend |
Jan 31, 2022 | $0.022 | OrdinaryDividend |
Dec 31, 2021 | $0.023 | OrdinaryDividend |
Dec 14, 2021 | $0.046 | CapitalGainLongTerm |
Nov 30, 2021 | $0.022 | OrdinaryDividend |
Oct 29, 2021 | $0.022 | OrdinaryDividend |
Sep 30, 2021 | $0.022 | OrdinaryDividend |
Aug 31, 2021 | $0.023 | OrdinaryDividend |
Jul 30, 2021 | $0.026 | OrdinaryDividend |
Jun 30, 2021 | $0.022 | OrdinaryDividend |
May 28, 2021 | $0.023 | OrdinaryDividend |
Apr 30, 2021 | $0.022 | OrdinaryDividend |
Mar 31, 2021 | $0.023 | OrdinaryDividend |
Feb 26, 2021 | $0.020 | OrdinaryDividend |
Jan 29, 2021 | $0.022 | OrdinaryDividend |
Dec 31, 2020 | $0.022 | OrdinaryDividend |
Nov 30, 2020 | $0.022 | OrdinaryDividend |
Oct 30, 2020 | $0.023 | OrdinaryDividend |
Sep 30, 2020 | $0.022 | OrdinaryDividend |
Aug 31, 2020 | $0.023 | OrdinaryDividend |
Jul 31, 2020 | $0.023 | OrdinaryDividend |
Jun 30, 2020 | $0.022 | OrdinaryDividend |
May 29, 2020 | $0.023 | OrdinaryDividend |
Apr 30, 2020 | $0.023 | OrdinaryDividend |
Mar 31, 2020 | $0.022 | OrdinaryDividend |
Feb 28, 2020 | $0.021 | OrdinaryDividend |
Jan 31, 2020 | $0.023 | OrdinaryDividend |
Dec 31, 2019 | $0.001 | OrdinaryDividend |
Nov 29, 2019 | $0.001 | OrdinaryDividend |
Oct 31, 2019 | $0.001 | OrdinaryDividend |
Sep 30, 2019 | $0.001 | OrdinaryDividend |
Aug 30, 2019 | $0.001 | OrdinaryDividend |
Jul 31, 2019 | $0.001 | OrdinaryDividend |
BTEIX - Fund Manager Analysis
Managers
Stephen Shutz
Start Date
Tenure
Tenure Rank
Jun 29, 2012
9.93
9.9%
Steve Shutz, CFA, is a portfolio manager and primarily concentrates on the management, trading and analysis of tax-exempt bonds. Prior to joining the firm, Steve was a vice president and assistant portfolio manager at Cavanaugh Capital Management (CCM) responsible for the trading of tax-exempt securities and portfolio analytics. Before joining CCM, he was a portfolio and research analyst at Merrill Lynch. Steve began his investment career at Legg Mason.
Joshua Perry
Start Date
Tenure
Tenure Rank
Oct 31, 2017
4.58
4.6%
Josh is a partner and portfolio manager and a municipal credit analyst on the fixed income team. He primarily focuses on tax-exempt credit analysis. Prior to joining the firm, he served as a fixed income credit analyst at Driehaus Capital Management. Prior to that he was a commodities analyst at Constellation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |