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Name

As of 04/26/2024

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

Segall Bryant & Hamill Municipal Opportunities Fund

WITAX | Fund

$9.49

$173 M

3.82%

$0.36

0.57%

Vitals

YTD Return

-1.0%

1 yr return

2.6%

3 Yr Avg Return

-1.8%

5 Yr Avg Return

1.2%

Net Assets

$173 M

Holdings in Top 10

35.1%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 37.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$250,000

IRA

$250,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/26/2024

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

Segall Bryant & Hamill Municipal Opportunities Fund

WITAX | Fund

$9.49

$173 M

3.82%

$0.36

0.57%

WITAX - Profile

Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return -1.8%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.74%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Segall Bryant & Hamill Municipal Opportunities Fund
  • Fund Family Name
    Segall Bryant & Hamill Funds
  • Inception Date
    Dec 16, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kenneth Harris

Fund Description

● The Fund focuses primarily on investment-grade quality municipal bonds that are rated in one of the four highest investment-grade categories at the time of purchase by one or more nationally recognized rating agencies such as Moody’s or Standard & Poor’s (“Rating Agencies”).
● Under normal circumstances, the Fund will invest at least eighty percent (80%) of the value of its net assets, plus any borrowings for investment purposes, in municipal bonds. The portfolio management team understands municipal bonds to include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer. Issuers may be states, territories, and possessions of the United States, including the District of Columbia, and their political subdivisions, agencies and instrumentalities.
● The Fund expects to maintain a dollar-weighted average duration of four to seven years and a dollar-weighted average effective maturity of five to 12 years, under normal circumstances.
● The Fund may invest up to thirty percent (30%) of its total assets at the time of purchase in municipal bonds rated below investment grade (commonly referred to as “junk” bonds).
● The Fund may invest in unrated bonds. The portfolio management team determines the comparable quality of such instruments to determine if they meet the Fund’s rating requirements.
● The team researches the financial condition of various counties, public projects, school districts and taxing authorities to seek to fully understand the issuer’s ability to generate revenues or levy taxes in order to meet its obligations.
● The Fund may utilize the following derivatives: interest-rate futures contracts; options on futures contracts; swap agreements, including interest rate swaps, and options on swap agreements. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Fund’s portfolio.
● If the team identifies what it believes are relative valuation opportunities, the Fund may invest up to twenty percent (20%) of its total net assets at time of purchase in taxable bonds including, but not limited to, corporate bonds, taxable municipal bonds, government and agency securities, mortgage-backed securities, asset-backed securities, and zero coupon bonds. The Fund may invest up to half of this allocation in taxable “junk” bonds.
● The Fund may, from time to time, invest up to ten percent (10%) of its total net assets at time of purchase in other investment companies and vehicles, including but not limited to, exchange-traded funds (ETFs) and closed-end funds.
● SBH also utilizes an “integrated” approach to a company’s environmental, social, and corporate governance (“ESG”) practices within its investment process alongside other non-ESG factors. SBH believes ESG factors may be important drivers of value in conjunction with the underlying strength and potential of an issuer, however its consideration of these factors would not necessarily result in an issuer being included or excluded from the evaluation process but rather would contribute to the overall evaluation of that issuer.
● Securities may be sold when conditions have changed and the security’s prospects are no longer attractive, the security has achieved the team’s valuation target, or better relative investment opportunities have been identified. However, an important consideration in all sell decisions is whether the sale would generate a possible realized capital gain.
Read More

WITAX - Performance

Return Ranking - Trailing

Period WITAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -5.3% 7.2% 40.36%
1 Yr 2.6% -5.3% 26.0% 27.66%
3 Yr -1.8%* -11.5% 2.5% 68.24%
5 Yr 1.2%* -6.3% 1101.7% 18.36%
10 Yr N/A* -0.5% 248.1% N/A

* Annualized

Return Ranking - Calendar

Period WITAX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -1.4% 41.0% 82.30%
2022 -13.8% -39.7% 0.3% 81.00%
2021 0.1% -5.6% 6.9% 25.30%
2020 3.2% -2.6% 310.0% 5.36%
2019 2.8% 0.0% 26.0% 82.45%

Total Return Ranking - Trailing

Period WITAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -5.3% 7.2% 40.36%
1 Yr 2.6% -5.3% 26.0% 27.66%
3 Yr -1.8%* -11.5% 2.5% 68.24%
5 Yr 1.2%* -6.3% 1101.7% 18.36%
10 Yr N/A* -0.5% 248.1% N/A

* Annualized

Total Return Ranking - Calendar

Period WITAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -1.3% 41.0% 54.46%
2022 -11.1% -39.7% 1.1% 76.39%
2021 2.9% -4.8% 23761504.0% 17.73%
2020 6.7% -1.5% 17057.9% 3.53%
2019 7.2% 0.2% 3514.6% 30.22%

NAV & Total Return History

WITAX - Holdings

Concentration Analysis

WITAX Category Low Category High WITAX % Rank
Net Assets 173 M 3.22 M 71.9 B 74.16%
Number of Holdings 134 2 13067 74.63%
Net Assets in Top 10 60.9 M -317 M 3.56 B 58.51%
Weighting of Top 10 35.15% 2.0% 100.4% 7.19%

Top 10 Holdings

  1. City of Whiting IN 5%, Due 11/01/2047 6.17%
  2. IPMI 3 LLC 3.900%, Due 12/01/2028 4.57%
  3. Virginia Small Business Financing Authority 4.2%, due 7/1/2050 4.33%
  4. INDIANA ST FIN AUTH ENVIRONMENTAL REV 3.75%, Due 06/01/2031 3.37%
  5. Texas Department of Housing Community Affairs 5.125%, Due 7/1/2032 3.10%
  6. Southern California Power Auth Natural Gas Variable, Due 11/01/2038 2.98%
  7. Public Fin Auth WI Eductnl FAC Rev 5.625% Due 06/01/2050 2.97%
  8. San Diego County Regional Airport Authority 5.594% Due 07/01/2043 2.85%
  9. DOUGLAS CNTY NEB SAN IMPT DIST NO 425 4.9%, Due 11/1/82033 2.42%
  10. Long Island Power Authority 1.50% Due 09/01/2051 2.39%

Asset Allocation

Weighting Return Low Return High WITAX % Rank
Bonds 		99.97% 0.00% 150.86% 14.10%
Cash 		0.03% -50.86% 50.09% 88.41%
Stocks 		0.00% 0.00% 99.81% 49.87%
Preferred Stocks 		0.00% 0.00% 0.52% 43.56%
Other 		0.00% -3.18% 33.35% 46.93%
Convertible Bonds 		0.00% 0.00% 0.93% 43.53%

Bond Sector Breakdown

Weighting Return Low Return High WITAX % Rank
Municipal 		78.71% 44.39% 100.00% 98.83%
Government 		3.70% 0.00% 52.02% 0.65%
Corporate 		2.82% 0.00% 9.41% 0.45%
Derivative 		0.00% -3.18% 23.38% 44.79%
Cash & Equivalents 		0.00% 0.00% 48.02% 75.86%
Securitized 		0.00% 0.00% 5.93% 44.44%

Bond Geographic Breakdown

Weighting Return Low Return High WITAX % Rank
US 		99.97% 0.00% 142.23% 12.75%
Non US 		0.00% 0.00% 23.89% 50.36%

WITAX - Expenses

Operational Fees

WITAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.57% 0.01% 20.65% 71.55%
Management Fee 0.35% 0.00% 1.20% 26.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.01% 0.01% 0.44% 0.61%

Sales Fees

WITAX 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

WITAX 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.

WITAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 0.00% 283.00% 85.22%

WITAX - Distributions

Dividend Yield Analysis

WITAX Category Low Category High WITAX % Rank
Dividend Yield 3.82% 0.00% 14.62% 9.96%

Dividend Distribution Analysis

WITAX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

WITAX Category Low Category High WITAX % Rank
Net Income Ratio 1.74% -0.53% 5.33% 61.23%

Capital Gain Distribution Analysis

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

Distributions History

View More +

WITAX - Fund Manager Analysis

Managers

Kenneth Harris

Start Date

Tenure

Tenure Rank

Dec 16, 2016

5.46

5.5%

Kenneth A. Harris is a senior portfolio manager and principal at Segall Bryant & Hamill, LLC. Mr. Harris joined the firm in 2018 as part of Segall Bryant & Hamill’s acquisition of Denver Investments. During his tenure with Denver Investments, he served as the director of Fixed Income and as a portfolio manager on the Fixed Income team. Prior to joining Denver Investments in 2000, Mr. Harris was the treasurer of Blue Cross and Blue Shield of Colorado. Mr. Harris received a BBA from the University of Arizona and an MBA from the University of Colorado at Denver. He has earned the Chartered Financial Analyst (CFA) designation and is a member of CFA Institute and CFA Society Colorado.

Nicholas Foley

Start Date

Tenure

Tenure Rank

Dec 16, 2016

5.46

5.5%

Nicholas J. Foley is a senior portfolio manager at Segall Bryant & Hamill, LLC. Mr. Foley joined the firm in 2018 as part of Segall Bryant & Hamill’s acquisition of Denver Investments. During his tenure with Denver Investments, he served as a portfolio manager and municipal credit analyst and trader on the Fixed Income team. Prior to joining Denver Investments in 2012, Mr. Foley was an associate portfolio manager and lead fixed income trader at the Bank of the West/BNP Paribas Group and a financial analyst with Janus Capital Group. Prior to that, he was a senior analyst at Washington Mutual Bank. Mr. Foley earned his B.A. from Gonzaga University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.37 1.58

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