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Trending ETFs

Ultra Short Tax-Free Income Fund

mutual fund
AIUSX
Payout Change
Pending
Price as of:
$10.03 +0.0 +0.0%
primary theme
Municipal Bond
AIUSX (Mutual Fund)

Ultra Short Tax-Free Income Fund

Payout Change
Pending
Price as of:
$10.03 +0.0 +0.0%
primary theme
Municipal Bond
AIUSX (Mutual Fund)

Ultra Short Tax-Free Income Fund

Payout Change
Pending
Price as of:
$10.03 +0.0 +0.0%
primary theme
Municipal Bond

Name

As of 05/24/2024

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

$10.03

$13.5 M

3.53%

$0.35

1.10%

Vitals

YTD Return

1.3%

1 yr return

3.4%

3 Yr Avg Return

1.4%

5 Yr Avg Return

1.0%

Net Assets

$13.5 M

Holdings in Top 10

45.4%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.10%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

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

$10.03

$13.5 M

3.53%

$0.35

1.10%

AIUSX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.04%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ultra Short Tax-Free Income Fund
  • Fund Family Name
    Cavanal Hill funds
  • Inception Date
    Dec 26, 2017
  • Shares Outstanding
    2774620
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard Williams

Fund Description

To pursue its objective, under normal circumstances, the Fund invests in a diversified portfolio of municipal bonds and debentures. Such debt obligations are “investment grade” or better, rated within the four highest long-term or two highest short-term rating categories assigned by a nationally recognized statistical ratings organization (“NRSRO”), with at least 65% of the Fund’s net assets invested in securities that are rated within the three highest long-term or highest short-term rating categories or, if not rated, found by the Adviser under guidelines approved by the Trust’s Board of Trustees to be of comparable quality.

If the rating of a security is downgraded after purchase, the portfolio management team will determine whether it is in the best interest of the Fund’s shareholders to continue to hold the security. In making that determination, the factors considered at the time of purchase are reviewed. The Fund does not apply an automatic sale trigger.

As a matter of fundamental policy, the Fund invests, under normal circumstances, at least 80% of its net assets in municipal securities, the income from which is both exempt from federal income tax and not subject to federal alternative minimum tax for individuals.

The Fund will generally invest in two principal classifications of municipal securities: general obligation securities and revenue securities. The Fund may also utilize credit enhancers, such as insurance. The Fund may invest in money market instruments such as short term tax-exempt notes, commercial paper, variable-rate demand notes, and money market funds.

Purchase and sale decisions are based on the Adviser’s judgment about issuers, risk, prices of securities, market conditions, potential returns, and other economic factors.

The Fund, under normal circumstances, invests at least 80% of its net assets in tax-free bonds and maintains a dollar-weighted average maturity between 1 day to 1 year. These policies will not be changed without at least 60 days’ prior notice to shareholders.

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AIUSX - Performance

Return Ranking - Trailing

Period AIUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -4.8% 14.5% 1.75%
1 Yr 3.4% -1.4% 30.1% 66.25%
3 Yr 1.4%* -11.5% 2.6% 1.72%
5 Yr 1.0%* -6.6% 1100.8% 21.95%
10 Yr N/A* -0.7% 248.1% N/A

* Annualized

Return Ranking - Calendar

Period AIUSX Return Category Return Low Category Return High Rank in Category (%)
2023 0.9% -1.4% 41.0% 96.42%
2022 -0.5% -39.7% 0.3% 0.66%
2021 -0.1% -5.6% 6.9% 33.44%
2020 0.0% -2.6% 310.0% 95.79%
2019 0.1% 0.0% 26.0% 99.51%

Total Return Ranking - Trailing

Period AIUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -4.8% 14.5% 1.75%
1 Yr 3.4% -1.4% 30.1% 66.25%
3 Yr 1.4%* -11.5% 2.6% 1.72%
5 Yr 1.0%* -6.6% 1100.8% 21.95%
10 Yr N/A* -0.7% 248.1% N/A

* Annualized

Total Return Ranking - Calendar

Period AIUSX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -1.3% 41.0% 93.49%
2022 0.0% -39.7% 1.1% 0.99%
2021 -0.1% -4.8% 23761504.0% 89.63%
2020 0.5% -1.5% 17057.9% 98.16%
2019 0.9% 0.2% 3514.6% 99.72%

NAV & Total Return History


AIUSX - Holdings

Concentration Analysis

AIUSX Category Low Category High AIUSX % Rank
Net Assets 13.5 M 3.22 M 71.9 B 99.35%
Number of Holdings 29 2 13067 99.29%
Net Assets in Top 10 5.55 M -317 M 3.56 B 97.66%
Weighting of Top 10 45.37% 2.0% 100.2% 3.45%

Top 10 Holdings

  1. WYANDOTTE COUNTY KANSAS CITY UNIFIED GOVERNMENT 6.13%
  2. COUNTY OF KING WA 4.90%
  3. COUNTY OF FRANKLIN OH 4.90%
  4. PHILADELPHIA PA 4.90%
  5. AUSTIN TEXAS HOTEL OCCUPANCY TAX REVENUE 4.74%
  6. CITY OF LYNDHURST OH 4.09%
  7. COLORADO SPRINGS CO 4.09%
  8. RHODE ISLAND ST HLTH EDUCTNL BLDG CORP 4.09%
  9. CITY OF NEWARK OH 3.78%
  10. FORT BEND COUNTY MUNICIPAL UTILITY DISTRICT NO 182 3.74%

Asset Allocation

Weighting Return Low Return High AIUSX % Rank
Bonds
101.09% 0.00% 150.86% 7.40%
Cash
1.10% -50.86% 46.80% 54.58%
Stocks
0.00% 0.00% 99.81% 56.04%
Preferred Stocks
0.00% 0.00% 0.56% 49.51%
Other
0.00% -3.18% 33.35% 52.11%
Convertible Bonds
0.00% 0.00% 0.93% 49.51%

Bond Sector Breakdown

Weighting Return Low Return High AIUSX % Rank
Municipal
96.07% 44.39% 100.00% 73.97%
Cash & Equivalents
1.10% 0.00% 46.24% 30.73%
Derivative
0.00% -3.18% 19.67% 50.03%
Securitized
0.00% 0.00% 5.93% 50.36%
Corporate
0.00% 0.00% 9.41% 58.58%
Government
0.00% 0.00% 52.02% 53.62%

Bond Geographic Breakdown

Weighting Return Low Return High AIUSX % Rank
US
101.09% 0.00% 142.23% 7.15%
Non US
0.00% 0.00% 23.89% 51.72%

AIUSX - Expenses

Operational Fees

AIUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.10% 0.01% 20.65% 26.79%
Management Fee 0.15% 0.00% 1.20% 3.51%
12b-1 Fee N/A 0.00% 1.00% 14.07%
Administrative Fee 0.08% 0.01% 0.44% 26.83%

Sales Fees

AIUSX 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

AIUSX 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.

AIUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 283.00% 98.88%

AIUSX - Distributions

Dividend Yield Analysis

AIUSX Category Low Category High AIUSX % Rank
Dividend Yield 3.53% 0.00% 14.51% 45.91%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

AIUSX Category Low Category High AIUSX % Rank
Net Income Ratio -0.04% -0.53% 5.33% 99.61%

Capital Gain Distribution Analysis

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

Distributions History

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AIUSX - Fund Manager Analysis

Managers

Richard Williams


Start Date

Tenure

Tenure Rank

Dec 26, 2017

4.43

4.4%

Mr. Williams is a Senior Vice President and has been a tax-free fund manager for Cavanal Hill Investment Management since 2005. Before joining Cavanal Hill Investment Management, Mr. Williams was a senior portfolio manager for AMR Investments from August 2000 to March 2005. He began his career on the money market trading desk at Fidelity Investments in Dallas, Texas and has also worked for Koch Industries and Automatic Data Processing.

Tenure Analysis

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