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Trending ETFs

AMG GW&K Municipal Bond Fund

mutual fund
GWMIX
Payout Change
Pending
Price as of:
$11.53 -0.01 -0.09%
primary theme
Municipal Bond
share class
N (GWMTX) I (GWMIX)
GWMIX (Mutual Fund)

AMG GW&K Municipal Bond Fund

Payout Change
Pending
Price as of:
$11.53 -0.01 -0.09%
primary theme
Municipal Bond
share class
N (GWMTX) I (GWMIX)
GWMIX (Mutual Fund)

AMG GW&K Municipal Bond Fund

Payout Change
Pending
Price as of:
$11.53 -0.01 -0.09%
primary theme
Municipal Bond
share class
N (GWMTX) I (GWMIX)

Name

As of 12/10/2024

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

AMG GW&K Municipal Bond Fund

GWMIX | Fund

$11.53

$1.03 B

2.63%

$0.30

0.46%

Vitals

YTD Return

1.7%

1 yr return

3.6%

3 Yr Avg Return

-0.3%

5 Yr Avg Return

0.8%

Net Assets

$1.03 B

Holdings in Top 10

15.6%

52 WEEK LOW AND HIGH

$11.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.46%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 24.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$25,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/10/2024

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

AMG GW&K Municipal Bond Fund

GWMIX | Fund

$11.53

$1.03 B

2.63%

$0.30

0.46%

GWMIX - Profile

Distributions

  • YTD Total Return 1.7%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.33%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AMG GW&K Municipal Bond Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Jun 30, 2009
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Martin Tourigny

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that are exempt from federal income tax. This policy is fundamental and may not be changed without shareholder approval. In addition, up to 100% of the Fund’s assets may be invested in municipal bonds, the interest on which may be subject to the federal alternative minimum tax.
GW&K Investment Management, LLC, the subadviser to the Fund (“GW&K” or the “Subadviser”), normally invests in municipal bonds that are rated “investment grade” by a nationally recognized statistical rating organization, such as Moody’s Investors Service, Inc. (“Moody’s”) or S&P Global Ratings (“S&P”). Investment grade securities are rated at least in the Baa major rating category by Moody’s or the BBB major rating category by S&P or rated similarly by another nationally recognized statistical rating organization. From time to time, the Fund may invest in unrated municipal bonds, which are considered by the Subadviser to be of comparable quality and creditworthiness as investment grade rated securities. In cases where the credit ratings agencies have assigned different credit ratings to the same security, the security will be considered to have the higher credit rating. The Fund may continue to hold securities that are downgraded in credit rating subsequent to their purchase if GW&K believes it would be advantageous to do so. The Fund expects that the average credit rating of the Fund’s portfolio will be AA under the S&P ratings categories. The Fund has no limitations on the maturity of individual securities, but
expects to maintain a dollar-weighted average maturity of 6 to 12 years. The Fund expects to maintain a duration of +/- 25% of the duration of the Fund’s benchmark (the Bloomberg 10-Year Municipal Bond Index), which was 5.32 years as of February 29, 2024. The Fund’s average weighted portfolio maturity and duration may vary from time to time depending on the Subadviser’s views on the direction of interest rates.
In selecting municipal bonds, the Subadviser uses a bottom-up, research-driven process based on its assessment of creditworthiness and geographic diversification of issuers and market availability of municipal bonds. The Subadviser typically invests for the long-term and seeks opportunities across the yield curve while retaining flexibility to react to interest rate shifts. Although the Fund invests nationally and seeks to be diversified by geography and across sectors of the municipal bond market, the Fund may at times invest a significant portion of its assets in a particular state or region or in a particular sector due to market conditions.
Read More

GWMIX - Performance

Return Ranking - Trailing

Period GWMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -4.4% 40.7% 91.87%
1 Yr 3.6% -2.6% 45.9% 83.28%
3 Yr -0.3%* -10.2% 6.4% 54.78%
5 Yr 0.8%* -6.5% 1105.2% 60.45%
10 Yr 2.0%* -0.9% 249.0% 34.64%

* Annualized

Return Ranking - Calendar

Period GWMIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -1.4% 41.0% 16.09%
2022 -9.2% -39.7% 0.3% 27.51%
2021 -1.7% -5.6% 6.9% 95.40%
2020 2.8% -2.6% 310.0% 10.01%
2019 5.5% 0.0% 26.0% 8.93%

Total Return Ranking - Trailing

Period GWMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -4.4% 40.7% 91.87%
1 Yr 3.6% -2.6% 45.9% 83.28%
3 Yr -0.3%* -10.2% 6.4% 54.78%
5 Yr 0.8%* -6.5% 1105.2% 60.45%
10 Yr 2.0%* -0.9% 249.0% 34.64%

* Annualized

Total Return Ranking - Calendar

Period GWMIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% -1.3% 41.0% 41.55%
2022 -7.5% -39.7% 1.1% 30.51%
2021 -0.4% -4.8% 23761504.0% 93.33%
2020 4.7% -1.5% 17057.9% 22.06%
2019 7.6% 0.2% 3514.6% 21.31%

NAV & Total Return History

GWMIX - Holdings

Concentration Analysis

GWMIX Category Low Category High GWMIX % Rank
Net Assets 1.03 B 3.22 M 71.9 B 30.71%
Number of Holdings 201 4 13418 57.15%
Net Assets in Top 10 163 M -317 M 3.09 B 28.61%
Weighting of Top 10 15.64% 1.8% 100.3% 60.55%

Top 10 Holdings

  1. FICC 3.83%
  2. Iowa Finance Authority 1.53%
  3. Pennsylvania Turnpike Commission 1.53%
  4. Metropolitan Transportation Authority 1.46%
  5. Triborough Bridge Tunnel Authority 1.36%
  6. State of Maryland Department of Transportation 1.25%
  7. State of Maryland Department of Transportation 1.24%
  8. Louisiana Stadium Exposition District 1.22%
  9. City of San Antonio TX Electric Gas Systems Revenue 1.16%
  10. State of Illinois 1.07%

Asset Allocation

Weighting Return Low Return High GWMIX % Rank
Bonds 		97.85% 0.00% 150.86% 70.60%
Other 		3.83% -3.69% 53.54% 1.41%
Stocks 		0.00% 0.00% 99.78% 36.85%
Preferred Stocks 		0.00% 0.00% 0.07% 26.80%
Convertible Bonds 		0.00% 0.00% 0.93% 26.43%
Cash 		0.00% -50.86% 44.62% 87.11%

Bond Sector Breakdown

Weighting Return Low Return High GWMIX % Rank
Municipal 		97.25% 44.39% 100.00% 63.45%
Derivative 		0.00% -3.69% 53.54% 32.77%
Cash & Equivalents 		0.00% 0.00% 44.41% 66.96%
Securitized 		0.00% 0.00% 5.93% 27.24%
Corporate 		0.00% 0.00% 9.41% 38.77%
Government 		0.00% 0.00% 52.02% 32.16%

Bond Geographic Breakdown

Weighting Return Low Return High GWMIX % Rank
US 		97.85% 0.00% 142.23% 68.17%
Non US 		0.00% 0.00% 23.89% 30.89%

GWMIX - Expenses

Operational Fees

GWMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.46% 0.01% 8.02% 86.02%
Management Fee 0.21% 0.00% 1.20% 6.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.44% 61.70%

Sales Fees

GWMIX 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

GWMIX 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.

GWMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.00% 0.00% 283.00% 69.91%

GWMIX - Distributions

Dividend Yield Analysis

GWMIX Category Low Category High GWMIX % Rank
Dividend Yield 2.63% 0.00% 14.51% 77.38%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

GWMIX Category Low Category High GWMIX % Rank
Net Income Ratio 1.33% -0.53% 5.33% 78.38%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GWMIX - Fund Manager Analysis

Managers

Martin Tourigny

Start Date

Tenure

Tenure Rank

Jun 30, 2009

12.93

12.9%

Marty is a senior member of the Municipal Bond team at GW&K responsible for portfolio management. He is also a member of the firm’s Investment and Management Committees. Prior to joining GW&K in 1994, he was employed by Mutual Fund Services Company as a Senior Fund Accountant. Marty received his BA in Economics from Boston College in 1991, and Masters in International Economics from Suffolk University in 2002. He is a CFA charterholder and is a member of the CFA Institute, the CFA Society Boston, the Boston Security Analysts Society, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts.

Nancy Angell

Start Date

Tenure

Tenure Rank

Jun 30, 2009

12.93

12.9%

Nancy began her career at GW&K in 1984 and quickly became an integral member of the firm’s Municipal Bond team. She was appointed Co-Director of Fixed Income in 2001, responsible for overseeing all aspects of our management of fixed income assets, including portfolio management, research, and trading. Nancy continues in her role as portfolio manager for all of the firm’s municipal bond strategies. Nancy is a member of the firm’s Management, Investment and ESG Committees. Nancy graduated cum laude from Duke University in 1983 where she received an AB in Economics, and received her MBA with high honors in Finance from Boston University in 1989. She is a member of the CFA Institute, the CFA Society Boston, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts. Nancy sits on the Advisory Committee of Challenge Unlimited at Ironstone Farm.

John Fox

Start Date

Tenure

Tenure Rank

Jun 30, 2009

12.93

12.9%

John joined GW&K as a member of our Municipal Bond team in 1990 after graduating college and was promoted to portfolio manager in 1995. John was appointed Co-Director of Fixed Income in 2001, responsible for overseeing all aspects of our fixed income operation, including portfolio management, research, and trading. John continues in his role as portfolio manager for all of the firm’s municipal bond strategies. John is a partner in the firm and is also a member of the firm’s Management Committee and Investment Committee. John received a BA in Economics from Boston College and an MBA from Boston University. He is a CFA charterholder and is a member of the CFA Institute, the CFA Society Boston, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts.

Tenure Analysis

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

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