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| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | ▼ −0.0% | ▲ +3.3% | ▼ −1.0% | ▼ −0.4% | ▲ +0.1% | — | — | ▲ +3.4% |
| Peer average | ▲ +0.1% | ▲ +2.7% | ▼ −0.9% | ▼ −0.2% | ▲ +0.1% | ▲ +13.9% | ▲ +1.9% | — |
| S&P 500 · VOO | ▼ −0.4% | ▲ +0.9% | ▲ +3.3% | ▲ +13.8% | ▲ +13.3% | ▲ +88.8% | ▲ +81.9% | — |
Reported holdings are shown below. A share-of-fund chart is unavailable for this portfolio.
Holdings as of 2026-10-30. Derivatives are shown using their reported instrument names.
| Holding | Instrument | Weight |
|---|---|---|
| Cash & Cash Equivalents | Reported holding | 7.33% |
| SAN FRANCISCO CA CITY CNTY AR | Reported holding | 0.82% |
| ANN ARBORMI HSG COMMISSION MF | Reported holding | 0.82% |
| BLACK BELTENERGY GAS DIST AL | Reported holding | 0.81% |
| ARIZONA STINDL DEV AUTH MF HS | Reported holding | 0.79% |
| ARIZONA STINDL DEV AUTH MF HS | Reported holding | 0.79% |
| PASCO CNTYFL SOL WST DISP R | Reported holding | 0.78% |
| MINNESOTAST HSG FIN AGY | Reported holding | 0.73% |
| NORTH CAROLINA HSG FIN AGY HOM | Reported holding | 0.68% |
| CLARK CNTYWA SCH DIST 37 VAN | Reported holding | 0.65% |
| NEW YORK ST DORM AUTH REVENUES | Reported holding | 0.63% |
| CORPUS CHRISTI TX UTILITY SYSR | Reported holding | 0.63% |
| SALES TAXSECURITIZATION CORP | Reported holding | 0.62% |
| MUBISHARES NATIONAL MUNI BOND ETF | Reported holding | 0.61% |
| PLUM BOROPA SCH DIST | Reported holding | 0.60% |
| CHICAGO ILO HARE INTERNATIONA | Reported holding | 0.59% |
| COLORADO ST HLTH FACS AUTH REV | Reported holding | 0.57% |
| TENNESSEEST ENERGY ACQUISITIO | Reported holding | 0.55% |
| RICHLAND WAYNE JASPER CLAY L | Reported holding | 0.55% |
| VTEBVANGUARD TAX EXEMPT BOND INDEX | Reported holding | 0.54% |
| JACKSONVILLE FL HSG AUTH REVEN | Reported holding | 0.54% |
| W CORNWALLTWP PA MUNI AUTH | Reported holding | 0.52% |
| CALIFORNIACMNTY CHOICE FING A | Reported holding | 0.52% |
| BLACK BELTENERGY GAS DIST AL | Reported holding | 0.50% |
| WINNEBAGOBOONE CNTYS IL SCH | Reported holding | 0.47% |
| BRAZOS TXHGR EDU AUTH STUDENT | Reported holding | 0.44% |
| BREVARD CNTY FL HLTH FACS AUTH | Reported holding | 0.43% |
| ELMORE CNTY AL PUBLIC BLDG AUT | Reported holding | 0.42% |
| MCCURTAINCNTY OK EDUCTNL FACS | Reported holding | 0.42% |
| RENSSELAERCO NY CAPITAL RESOU | Reported holding | 0.42% |
MFSM is an actively managed fund that seeks total return with an emphasis on income exempt from federal income tax. It includes intermediate-term US municipal bonds whose interests are tax-exempt but subject to the federal alternative minimum tax. The fund primarily invests in investment grade quality debt instruments but may also include high-yield bonds. Its dollar-weighted average effective maturity ranges between three and ten years. To construct the portfolio, the fund uses a bottom-up investment approach, selecting investments based on fundamental analysis of individual instruments and their issuers. The adviser also considers top-down factors in structuring the fund. A significant percentage of the portfolio may be allocated to issuers in a single state, territory, or possession and 25% or more to municipal bonds that finance similar types of projects. The fund may use derivatives to adjust market and interest rate exposure or as alternatives to direct investments.
Distribution yield and SEC yield use different methodologies. Payouts may include income, capital gains, or return of capital.
| Ex-date | Pay date | Per share |
|---|---|---|
| 2026-10-30 | 2026-11-02 | $0.08 |
| 2026-09-30 | 2026-10-01 | $0.07 |
| 2026-08-31 | 2026-09-01 | $0.07 |
| 2026-07-31 | 2026-08-03 | $0.08 |
| 2026-06-30 | 2026-07-01 | $0.07 |
| 2026-05-29 | 2026-06-01 | $0.07 |
| 2026-04-30 | 2026-05-01 | $0.07 |
| 2026-03-31 | 2026-04-01 | $0.08 |
| 2026-02-27 | 2026-03-02 | $0.06 |
| 2026-01-30 | 2026-02-02 | $0.07 |
| 2025-12-30 | 2025-12-31 | $0.07 |
| 2025-11-28 | 2025-12-01 | $0.08 |
Estimated annual expense excludes trading costs and assumes constant assets. Fee waivers and fund costs can change.
Historical risk measures describe past behavior and do not predict future returns.
Hear the strategy from the people behind MFSM.