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Trending ETFs

Short Duration Municipal Income Portfolio

mutual fund
MUAMX
Payout Change
Pending
Price as of:
$9.99 -0.01 -0.1%
primary theme
Municipal Bond
share class
Inst (MUIMX) Primary A (MUAMX) Other (MULMX)
MUAMX (Mutual Fund)

Short Duration Municipal Income Portfolio

Payout Change
Pending
Price as of:
$9.99 -0.01 -0.1%
primary theme
Municipal Bond
share class
Inst (MUIMX) Primary A (MUAMX) Other (MULMX)
MUAMX (Mutual Fund)

Short Duration Municipal Income Portfolio

Payout Change
Pending
Price as of:
$9.99 -0.01 -0.1%
primary theme
Municipal Bond
share class
Inst (MUIMX) Primary A (MUAMX) Other (MULMX)

Name

As of 09/22/2023

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

Short Duration Municipal Income Portfolio

MUAMX | Fund

$9.99

$214 M

0.00%

0.66%

Vitals

YTD Return

2.0%

1 yr return

2.5%

3 Yr Avg Return

0.9%

5 Yr Avg Return

N/A

Net Assets

$214 M

Holdings in Top 10

41.7%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.66%

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 09/22/2023

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

Short Duration Municipal Income Portfolio

MUAMX | Fund

$9.99

$214 M

0.00%

0.66%

MUAMX - Profile

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.02%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Short Duration Municipal Income Portfolio
  • Fund Family Name
    Morgan Stanley Funds
  • Inception Date
    Dec 20, 2018
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jonas Kolk

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets in municipal securities, the income from which is exempt from federal income tax. This policy is fundamental and may not be changed without shareholder approval. The Fund may also invest in variable and floating rate demand instruments and tender option bonds.
The Fund may invest up to 100% of its assets in municipal securities, the interest on which may be subject to the federal alternative minimum tax for individuals. In addition, the Fund may invest up to 20% of its assets in securities subject to federal income tax.
The Fund may invest 25% or more of its total assets in certain types of municipal obligations (such as general obligations, municipal leases, principal only municipal investments, revenue bonds and industrial development bonds) and in one or more states, territories and economic sectors (such as housing, hospitals, healthcare facilities or utilities). At least 85% of the Fund’s net assets normally will be invested in municipal obligations rated at least investment grade at the time of investment (which are those rated Baa3 or higher by Moody’s Investors Service, Inc (“Moody’s”), or BBB- or higher by either S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)) or, if unrated, determined by the Adviser to be of at least investment grade quality. The balance of net assets may be invested in municipal obligations rated below investment grade and in unrated municipal obligations considered to be of comparable quality by the Adviser (“junk bonds”). The Fund will not invest more than 5% of its net assets in obligations rated below B3 by Moody’s, or B- by either S&P or Fitch, or in unrated obligations considered to be of comparable quality by the Adviser. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used.
Under normal circumstances, the Fund intends to maintain a dollar-weighted average portfolio duration of less than three years; however, the Fund may invest in individual municipal obligations of any maturity.
The Adviser’s process for selecting obligations for purchase and sale emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market. In evaluating creditworthiness, the Adviser considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers also may trade securities to seek to minimize taxable capital gains to shareholders. A portion of the Fund’s distributions generally will be subject to federal alternative minimum tax. The Fund may not be suitable for investors subject to the federal alternative minimum tax.
The Fund may, but is not required to, use derivatives and similar instruments, such as residual interest bonds, futures contracts and options thereon, interest rate swaps and forward rate agreements, for a variety of purposes, including hedging, to seek total return or as a substitute for the purchase or sale of securities. Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
Read More

MUAMX - Performance

Return Ranking - Trailing

Period MUAMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -60.4% 26.2% 4.61%
1 Yr 2.5% -14.1% 8.5% 53.75%
3 Yr 0.9%* -9.3% 50.1% 1.57%
5 Yr N/A* -4.5% 28.8% N/A
10 Yr N/A* -1.7% 14.1% N/A

* Annualized

Return Ranking - Calendar

Period MUAMX Return Category Return Low Category Return High Rank in Category (%)
2022 0.0% -76.8% 4.7% 0.19%
2021 0.0% -69.5% 9.0% 26.25%
2020 0.0% -66.1% 310.0% 95.25%
2019 0.0% -57.4% 26.0% 99.53%
2018 N/A -30.0% 11.0% N/A

Total Return Ranking - Trailing

Period MUAMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -60.4% 26.2% 4.61%
1 Yr 2.5% -14.6% 11.3% 53.75%
3 Yr 0.9%* -5.8% 6071.3% 1.57%
5 Yr N/A* -1.6% 1098.8% N/A
10 Yr N/A* -0.4% 247.4% N/A

* Annualized

Total Return Ranking - Calendar

Period MUAMX Return Category Return Low Category Return High Rank in Category (%)
2022 0.8% -76.8% 4.7% 0.70%
2021 0.1% -69.5% 23761504.0% 85.07%
2020 0.5% -66.1% 34671.4% 98.15%
2019 0.6% -57.4% 3514.6% 99.93%
2018 N/A -30.0% 15.0% N/A

NAV & Total Return History

MUAMX - Holdings

Concentration Analysis

MUAMX Category Low Category High MUAMX % Rank
Net Assets 214 M 423 K 437 B 67.21%
Number of Holdings 40 1 14000 98.37%
Net Assets in Top 10 94.3 M -317 M 8.64 B 45.20%
Weighting of Top 10 41.70% 2.4% 101.7% 4.08%

Top 10 Holdings

  1. BROWARD CNTY FL INDL DEV REVENUE 4.64%
  2. NUVEEN AMT-FREE QUALITY MUNICIPAL INCOME FUND 4.42%
  3. PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE 4.42%
  4. MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE 4.42%
  5. City of San Antonio TX 4.42%
  6. CLARK CNTY NV INDL DEV REVENUE 4.42%
  7. HAMILTON CNTY OH HOSP FACS REVENUE 4.25%
  8. TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES 3.62%
  9. LOUISVILLE JEFFERSON CNTY KY REGL ARPT AUTH 3.54%
  10. COLORADO SPRINGS CO UTILITIES REVENUE 3.54%

Asset Allocation

Weighting Return Low Return High MUAMX % Rank
Bonds 		83.54% 65.51% 150.86% 98.24%
Cash 		12.04% -50.86% 33.96% 1.32%
Stocks 		4.42% -0.03% 4.63% 1.94%
Preferred Stocks 		0.00% -0.52% 0.04% 0.25%
Other 		0.00% -13.03% 30.01% 12.49%
Convertible Bonds 		0.00% 0.00% 0.93% 0.38%

Stock Sector Breakdown

Weighting Return Low Return High MUAMX % Rank
Utilities 		0.00% 0.00% 0.00% N/A
Technology 		0.00% 0.00% 0.00% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 100.00% N/A
Healthcare 		0.00% 0.00% 0.00% N/A
Financial Services 		0.00% 0.00% 0.00% N/A
Energy 		0.00% 0.00% 0.00% N/A
Communication Services 		0.00% 0.00% 100.00% N/A
Consumer Defense 		0.00% 0.00% 0.00% N/A
Consumer Cyclical 		0.00% 0.00% 100.00% N/A
Basic Materials 		0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High MUAMX % Rank
US 		4.42% -0.03% 4.63% 1.95%
Non US 		0.00% 0.00% 0.00% 0.19%

Bond Sector Breakdown

Weighting Return Low Return High MUAMX % Rank
Municipal 		90.90% 44.39% 100.00% 92.18%
Cash & Equivalents 		11.91% 0.00% 33.95% 0.82%
Derivative 		0.00% 0.00% 3.41% 8.22%
Securitized 		0.00% 0.00% 5.93% 2.14%
Corporate 		0.00% 0.00% 9.41% 19.99%
Government 		0.00% 0.00% 52.02% 7.88%

Bond Geographic Breakdown

Weighting Return Low Return High MUAMX % Rank
US 		83.54% 37.86% 142.23% 98.05%
Non US 		0.00% 0.00% 62.14% 9.60%

MUAMX - Expenses

Operational Fees

MUAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.66% 0.02% 6.50% 57.52%
Management Fee 0.20% 0.00% 1.10% 5.27%
12b-1 Fee 0.20% 0.00% 1.00% 26.83%
Administrative Fee 0.08% 0.01% 0.44% 24.01%

Sales Fees

MUAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.75% 86.13%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

MUAMX 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.

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

MUAMX - Distributions

Dividend Yield Analysis

MUAMX Category Low Category High MUAMX % Rank
Dividend Yield 0.00% 0.00% 4.53% 71.71%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MUAMX Category Low Category High MUAMX % Rank
Net Income Ratio -0.02% -0.53% 5.33% 99.43%

Capital Gain Distribution Analysis

MUAMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Monthly Monthly

Distributions History

View More +

MUAMX - Fund Manager Analysis

Managers

Jonas Kolk

Start Date

Tenure

Tenure Rank

Dec 19, 2018

3.45

3.5%

Jonas is a senior portfolio manager of various Morgan Stanley taxable money market funds. He joined Morgan Stanley in 2004 and has been with financial industry since 1991. Prior to joining the firm, he was a senior portfolio manager at AIG Capital Markets and Chase Asset Management and a money market trader at Metropolitan Life Insurance Co. Jonas received a B.S. in finance from the State University of New York, Albany and an M.B.A. from Fordham University Graduate School of Business.

Paul Daggy

Start Date

Tenure

Tenure Rank

Dec 19, 2018

3.45

3.5%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.28 1.58

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