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Tactical Municipal Fund

STMEX
NAV as of 7/01/2024
$25.61
1 Day NAV Change as of 7/01/2024
-0.06
(-0.23%)
NAV Total Return as of 7/01/2024
1.34%
Morningstar Rating™
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Asset Allocations

Portfolio holdings are subject to change, vary over time and should not be considered a recommendation to buy any individual security.

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Monthly Breakdown

Historical Breakdown

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Holdings

Portfolio holdings are subject to change, vary over time and should not be considered a recommendation to buy any individual security.

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Ratings

 

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Morningstar Rating™

Overall rating out of 187 High Yield Muni investments as of December 31, 2023. An investment’s overall Morningstar Rating™, based on risk-adjusted return, is a weighted average of its applicable three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.

Performance

 

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Performance through Jul 1, 2024

Annual Return through Jun 30, 2024

Total Annual Operating Expenses are 1.84%, Total Annual Fund Operating Expenses after Fee Waiver and Reimbursement are 1.84%; no Sales Charge (commission or “load”) or 12b-1 distribution fee.

The performance presented above is net of the maximum sales charge (“load”) for the respective share class.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 1-866-738-4363 (1-866-RETI-FND).

(1) Represents the percentage increase/decrease in the net asset value from the prior trading day.

(2) Performance for periods of less than one year is not annualized.

(3) The inception date of the Sierra Tactical Municipal Fund is December 26, 2018.

Distributions

 

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to

Record Date: The date the distribution amount is declared.
Ex-Date / Pay Date: The date the distribution is paid to investors.

Fund Fact Sheets

 

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Sierra Tactical Municipal Fund - Instl Class - Fact Sheet Download
Sierra Tactical Municipal Fund - Class A & C - Fact Sheet Download

Resources

 

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Top ResourcesView all resources

Municipal Bonds are Anything but Boring
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Municipal Bonds are Anything but Boring

Client-Ready Material

Municipal bonds are supposed to be boring, but they’ve been anything but boring in 2023. The environment has created an opportunity for tax harvesting and for evaluating how you allocate to municipal bonds.
Sierra Tactical Municipal Fund Performance Snapshot
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Sierra Tactical Municipal Fund: Performance Snapshot

Allocation / Performance Reports

Monthly performance analysis booklet for the Sierra Tactical Municipal Fund sourced through Morningstar, updated through May 31, 2024
Navigate Through Our Solutions
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Navigate Through Our Solutions

Foundational Product Information

An all-in-one brochure that covers our core beliefs, investment process, funds, and strategies.

Fund Documents

 

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Sierra Tactical Municipal Fund Summary Prospectus (January 29, 2024) Download
Sierra Tactical Municipal Fund Prospectus (January 29, 2024) Download
Sierra Mutual Funds Statement of Additional Information (January 29, 2024) Download
Sierra Mutual Funds Quarterly Holdings Report (December 31, 2023) Download
Sierra Mutual Funds Quarterly Holdings Report (June 30, 2023) Download
Sierra Mutual Funds Semi-Annual Report (March 31, 2024) Download
Sierra Mutual Funds Annual Report (September 30, 2023) Download

Fact Sheets & Fund Documents

 

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Asset Fact Sheets

Sierra Tactical Municipal Fund - Instl Class - Fact Sheet Download
Sierra Tactical Municipal Fund - Class A & C - Fact Sheet Download

Asset Fund Documents

Sierra Tactical Municipal Fund Summary Prospectus (January 29, 2024) Download
Sierra Tactical Municipal Fund Prospectus (January 29, 2024) Download
Sierra Mutual Funds Statement of Additional Information (January 29, 2024) Download
Sierra Mutual Funds Quarterly Holdings Report (December 31, 2023) Download
Sierra Mutual Funds Quarterly Holdings Report (June 30, 2023) Download
Sierra Mutual Funds Semi-Annual Report (March 31, 2024) Download
Sierra Mutual Funds Annual Report (September 30, 2023) Download

Overview

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Investment Objectives

The Fund seeks total return, including tax-free income from the dividends of underlying municipal bond funds, while seeking to limit volatility and downside risk.

The interest income from muni bonds is tax-free at the federal level, a valuable benefit that is passed on to shareholders as to the monthly dividends from the Fund.

The Portfolio Managers typically diversify the Fund among ten or more underlying muni bond mutual funds and/or ETFs, and each holding is monitored daily. The Fund will typically be fully invested when the muni market is in a rising trend. During price declines in the muni bond market a proprietary stop-loss discipline is implemented, with the goal of limiting drawdowns in the price of the Fund. During such episodes, the Fund may be partly or fully in a tax-free money market fund until the muni bond market turns up again.

Managers seek to outperform the Bloomberg Barclays Municipal Bond Index.