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Trending ETFs

Name

As of 06/12/2024

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

$22.93

$699 M

3.85%

$0.88

0.75%

Vitals

YTD Return

-0.4%

1 yr return

5.2%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

0.8%

Net Assets

$699 M

Holdings in Top 10

15.6%

52 WEEK LOW AND HIGH

$22.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.75%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 15.91%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/12/2024

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

$22.93

$699 M

3.85%

$0.88

0.75%

PTRMX - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.67%
DIVIDENDS
  • Dividend Yield 3.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Performance Trust Municipal Bond Fund
  • Fund Family Name
    Performance Trust Asset Management
  • Inception Date
    Jun 30, 2011
  • Shares Outstanding
    1990664
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    G. Plaiss

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (including any borrowings for investment purposes) in investment-grade quality municipal securities that pay interest that is exempt from regular federal income tax. The Fund may invest up to 20% of its net assets in below investment-grade municipal securities as well as up to 20% of its net assets in securities that produce income subject to federal income tax. The Fund may invest more than 25% of its total assets in municipal obligations issued by entities located in the same state or entities in which the interest is paid solely from revenues of similar projects. In addition, the Fund may invest up to 20% of its net assets in other investment companies, including closed-end funds and exchange-traded funds (“ETFs”).
The Fund invests in municipal securities issued by or on behalf of states and local governmental authorities throughout the United States and its
territories that pay interest that is exempt from regular federal income tax, but not necessarily the federal alternative minimum tax (“AMT”) for a noncorporate shareholder.
Investment-grade municipal securities include securities rated “investment grade” (e.g., BBB/Baa or higher) at the time of purchase by at least one nationally recognized statistical rating organization (“NRSRO”), or, if unrated, judged by the Adviser to be of comparable quality. Below investment-grade securities are commonly referred to as “high yield” or “junk” bonds.
The dollar-weighted average portfolio effective maturity of the Fund will normally be more than 10 years but less than 22 years. The average duration will be more than 5 but less than 11.
The Adviser uses a value-oriented strategy looking for higher-yielding and undervalued municipal securities that offer above-average total return. The Fund’s investment process begins with a top-down review of portfolio duration and yield curve positioning as well as industry, sector and credit quality. The Adviser makes a forward projection of an individual investment’s total return characteristics over a variety of economic and interest rate scenarios, yield curve shifts and time horizons. The Adviser may choose to sell an investment with deteriorating credit quality or limited upside potential compared to other available investments in the market.
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PTRMX - Performance

Return Ranking - Trailing

Period PTRMX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -3.7% 16.7% 90.51%
1 Yr 5.2% -2.4% 30.5% 15.08%
3 Yr -1.6%* -11.5% 2.7% 69.38%
5 Yr 0.8%* -6.5% 1101.4% 48.34%
10 Yr 2.5%* -0.6% 248.3% 13.55%

* Annualized

Return Ranking - Calendar

Period PTRMX Return Category Return Low Category Return High Rank in Category (%)
2023 4.6% -1.4% 41.0% 4.30%
2022 -14.2% -39.7% 0.3% 83.62%
2021 -0.2% -5.6% 6.9% 34.44%
2020 3.5% -2.6% 310.0% 4.15%
2019 5.3% 0.0% 26.0% 10.54%

Total Return Ranking - Trailing

Period PTRMX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -3.7% 16.7% 90.51%
1 Yr 5.2% -2.4% 30.5% 15.08%
3 Yr -1.6%* -11.5% 2.7% 69.38%
5 Yr 0.8%* -6.5% 1101.4% 48.34%
10 Yr 2.5%* -0.6% 248.3% 13.55%

* Annualized

Total Return Ranking - Calendar

Period PTRMX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -1.3% 41.0% 3.71%
2022 -12.2% -39.7% 1.1% 86.92%
2021 2.0% -4.8% 23761504.0% 38.63%
2020 6.1% -1.5% 17057.9% 5.78%
2019 7.0% 0.2% 3514.6% 35.75%

NAV & Total Return History


PTRMX - Holdings

Concentration Analysis

PTRMX Category Low Category High PTRMX % Rank
Net Assets 699 M 3.22 M 71.9 B 37.45%
Number of Holdings 264 2 13067 44.90%
Net Assets in Top 10 109 M -317 M 3.56 B 41.13%
Weighting of Top 10 15.58% 2.0% 100.2% 62.48%

Top 10 Holdings

  1. First American Government Obligations Fund 3.97%
  2. Central Puget Sound Regional Transit Authority 1.70%
  3. District of Columbia Income Tax Revenue 1.60%
  4. Indianapolis Local Public Improvement Bond Bank 1.48%
  5. Wasatch County School District Local Building Authority 1.21%
  6. Commonwealth of Massachusetts 1.15%
  7. State of Georgia 1.15%
  8. Allegheny County Sanitary Authority 1.13%
  9. City County of Denver CO Airport System Revenue 1.12%
  10. Washington Suburban Sanitary Commission 1.08%

Asset Allocation

Weighting Return Low Return High PTRMX % Rank
Bonds
97.13% 0.00% 150.86% 74.29%
Cash
3.97% -50.86% 46.80% 13.32%
Stocks
0.00% 0.00% 99.81% 90.39%
Preferred Stocks
0.00% 0.00% 0.56% 89.41%
Other
0.00% -3.18% 33.35% 86.74%
Convertible Bonds
0.00% 0.00% 0.93% 89.24%

Bond Sector Breakdown

Weighting Return Low Return High PTRMX % Rank
Municipal
95.78% 44.39% 100.00% 75.54%
Cash & Equivalents
3.97% 0.00% 46.24% 10.33%
Corporate
1.25% 0.00% 9.41% 2.35%
Securitized
0.40% 0.00% 5.93% 0.46%
Derivative
0.00% -3.18% 19.67% 85.64%
Government
0.00% 0.00% 52.02% 91.00%

Bond Geographic Breakdown

Weighting Return Low Return High PTRMX % Rank
US
97.13% 0.00% 142.23% 71.67%
Non US
0.00% 0.00% 23.89% 89.34%

PTRMX - Expenses

Operational Fees

PTRMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.01% 20.65% 49.67%
Management Fee 0.40% 0.00% 1.20% 43.96%
12b-1 Fee N/A 0.00% 1.00% 63.38%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

PTRMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.50% 4.75% 90.93%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

PTRMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 20.00%

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.

PTRMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.91% 0.00% 283.00% 43.75%

PTRMX - Distributions

Dividend Yield Analysis

PTRMX Category Low Category High PTRMX % Rank
Dividend Yield 3.85% 0.00% 14.51% 10.58%

Dividend Distribution Analysis

PTRMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PTRMX Category Low Category High PTRMX % Rank
Net Income Ratio 1.67% -0.53% 5.33% 64.04%

Capital Gain Distribution Analysis

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

Distributions History

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PTRMX - Fund Manager Analysis

Managers

G. Plaiss


Start Date

Tenure

Tenure Rank

Jun 30, 2011

10.93

10.9%

Mike brings over 15 years of experience managing institutional fixed-income portfolios. He currently manages investment portfolios across all of PTAM’s structured credit and municipal bond focused funds and separately managed accounts. Mike’s responsibilities include portfolio construction, security selection, portfolio attribution, modeling RMBS and municipal bond cash flows, and risk management. Prior to joining PTAM, Mike managed more than $700 million in municipal and corporate bonds, mortgage-backed securities, and other structured fixed-income for the Kentucky Farm Bureau, the state’s largest property and casualty insurance provider. Earlier in his career, Mike held positions at multiple banking institutions where he also managed diverse fixed income portfolios. Mike graduated from Indiana University, Bloomington with a Bachelor of Arts in Economics and is a CFA charterholder.

Mark Peiler


Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

Mr. Peiler serves as a member of the Adviser’s portfolio management team. His responsibilities include portfolio construction, security selection and risk management of municipal bonds. Prior to joining the Adviser, Mr. Peiler was the Chief Investment Officer at BNC National Bank for over 23 years from 1998 to 2022. At BNC National Bank, he applied Shape Management® to the management of its portfolio of municipal, mortgage-backed, and other structured fixed-income securities. Mr. Peiler also managed portfolios for clients of its Wealth Management Division, and prior to leaving BNC National Bank, he was named the Interim Chief Financial Officer. Mr. Peiler received a Bachelor of Business Administration majoring in Banking and Financial Economics from the University of North Dakota, and is a CFA® charterholder. Mr. Peiler served on the CFA Society Minnesota board from 2010 through 2021, and was its President from 2017 through 2019.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58