Continue to site >
Trending ETFs

State Farm Municipal Bond Fund

mutual fund
SFBDX
Payout Change
Pending
Price as of:
$8.09 +0.02 +0.25%
primary theme
Municipal Bond
share class
SFBDX (Mutual Fund)

State Farm Municipal Bond Fund

Payout Change
Pending
Price as of:
$8.09 +0.02 +0.25%
primary theme
Municipal Bond
share class
SFBDX (Mutual Fund)

State Farm Municipal Bond Fund

Payout Change
Pending
Price as of:
$8.09 +0.02 +0.25%
primary theme
Municipal Bond
share class

Name

As of 06/13/2024

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

$8.09

$563 M

3.18%

$0.26

0.20%

Vitals

YTD Return

-0.3%

1 yr return

2.5%

3 Yr Avg Return

-0.8%

5 Yr Avg Return

0.3%

Net Assets

$563 M

Holdings in Top 10

9.4%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.20%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 11.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/13/2024

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

$8.09

$563 M

3.18%

$0.26

0.20%

SFBDX - Profile

Distributions

  • YTD Total Return -0.3%
  • 3 Yr Annualized Total Return -0.8%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    State Farm Municipal Bond Fund
  • Fund Family Name
    State Farm Investment Management Corp.
  • Inception Date
    Jun 29, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Reid Frankenberg

Fund Description

Under normal circumstances, the Fund invests so that either (1) at least 80% of the Fund’s net investment income is exempt from regular federal income tax or (2) at least 80% of the Fund’s net assets are invested in securities that produce income exempt from regular federal income tax. State Farm Investment Management Corp. (the “Adviser”), investment adviser to the Fund, has selected Northern Trust Investments, Inc. (“NTI” or “Sub‑Adviser”) as sub‑adviser to the Fund. The Sub‑Adviser will invest the Fund’s assets primarily in a diversified selection of municipal bonds (for example, general obligation bonds of a state or bonds financing a specific project) with maturities of one to 17 years, although from time to time the Sub‑Adviser may purchase issues with longer maturities. A majority of the Fund’s investments are in issues with maturities longer than five years. Dividends from the Fund largely will be exempt from federal income tax and, at the present time, the Fund does not intend to purchase municipal obligations that are subject to federal alternative minimum tax unless these bonds provide greater potential for return on an after‑tax basis than other alternatives.
The Fund may temporarily invest up to 20% of its total assets under normal circumstances in certain short-term taxable securities issued by or on behalf of municipal or corporate issuers, obligations of the United States Government and its agencies or instrumentalities, commercial paper, bank certificates of deposit, and any such items subject to short-term repurchase agreements.
The Fund normally invests at least 70% of its total assets in municipal bonds rated A or better by Moody’s Investors Service, Inc. (“Moody’s”) or Standard & Poor’s Corporation (“S&P”), money market securities and cash, meaning that up to 30% of the Fund’s total assets may be invested in medium and lower-quality bonds.
The Sub‑Adviser frequently will hold individual municipal bonds within the Fund for a long period of time, possibly until the bond matures or until it is called. The Sub‑Adviser may sell individual securities for several reasons including: fundamental deterioration of municipality prospects, liquidity needs or other portfolio management considerations, tax considerations, or better alternatives exist.
Read More

SFBDX - Performance

Return Ranking - Trailing

Period SFBDX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -2.9% 16.5% 89.08%
1 Yr 2.5% -1.4% 27.6% 89.08%
3 Yr -0.8%* -11.1% 2.8% 31.94%
5 Yr 0.3%* -6.3% 1102.2% 76.63%
10 Yr 1.4%* -0.5% 248.4% 66.85%

* Annualized

Return Ranking - Calendar

Period SFBDX Return Category Return Low Category Return High Rank in Category (%)
2023 1.5% -1.4% 41.0% 88.01%
2022 -8.7% -39.7% 0.3% 24.24%
2021 -1.7% -5.6% 6.9% 94.81%
2020 2.7% -2.6% 310.0% 10.88%
2019 3.3% 0.0% 26.0% 69.90%

Total Return Ranking - Trailing

Period SFBDX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -2.9% 16.5% 89.08%
1 Yr 2.5% -1.4% 27.6% 89.08%
3 Yr -0.8%* -11.1% 2.8% 31.94%
5 Yr 0.3%* -6.3% 1102.2% 76.63%
10 Yr 1.4%* -0.5% 248.4% 66.85%

* Annualized

Total Return Ranking - Calendar

Period SFBDX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -1.3% 41.0% 67.88%
2022 -6.2% -39.7% 1.1% 20.48%
2021 0.8% -4.8% 23761504.0% 69.35%
2020 2.8% -1.5% 17057.9% 78.52%
2019 4.8% 0.2% 3514.6% 81.08%

NAV & Total Return History


SFBDX - Holdings

Concentration Analysis

SFBDX Category Low Category High SFBDX % Rank
Net Assets 563 M 3.22 M 71.9 B 43.43%
Number of Holdings 438 2 13067 28.53%
Net Assets in Top 10 51.9 M -317 M 3.56 B 64.52%
Weighting of Top 10 9.43% 2.0% 100.2% 85.70%

Top 10 Holdings

  1. VA VASHSG 07/01/2055 1.01%
  2. MN METGEN 3.75 03/01/2032 1.00%
  3. MO MOSTRN 5 05/01/2025 1.00%
  4. CT CTSMED 07/01/2042 1.00%
  5. KS KSSTRN 5 09/01/2033 0.96%
  6. WA KINSCD 4 12/01/2033 0.93%
  7. WA ENEPWR 5 07/01/2030 0.93%
  8. FL COLUTL 3 07/01/2033 0.92%
  9. WA KINSCD 3 12/01/2033 0.91%
  10. NEW YORK CITY MUNIC 5.00% 0.78%

Asset Allocation

Weighting Return Low Return High SFBDX % Rank
Bonds
98.99% 0.00% 150.86% 42.21%
Cash
1.01% -50.86% 46.80% 56.08%
Stocks
0.00% 0.00% 99.81% 95.78%
Preferred Stocks
0.00% 0.00% 0.56% 98.51%
Other
0.00% -3.18% 33.35% 92.14%
Convertible Bonds
0.00% 0.00% 0.93% 98.50%

Bond Sector Breakdown

Weighting Return Low Return High SFBDX % Rank
Municipal
95.85% 44.39% 100.00% 75.15%
Cash & Equivalents
0.31% 0.00% 46.24% 45.61%
Derivative
0.00% -3.18% 19.67% 91.94%
Securitized
0.00% 0.00% 5.93% 98.50%
Corporate
0.00% 0.00% 9.41% 98.50%
Government
0.00% 0.00% 52.02% 98.56%

Bond Geographic Breakdown

Weighting Return Low Return High SFBDX % Rank
US
98.99% 0.00% 142.23% 40.29%
Non US
0.00% 0.00% 23.89% 98.96%

SFBDX - Expenses

Operational Fees

SFBDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.20% 0.01% 20.65% 97.33%
Management Fee 0.11% 0.00% 1.20% 2.92%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

SFBDX 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

SFBDX 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.

SFBDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 0.00% 283.00% 28.13%

SFBDX - Distributions

Dividend Yield Analysis

SFBDX Category Low Category High SFBDX % Rank
Dividend Yield 3.18% 0.00% 14.51% 33.96%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SFBDX Category Low Category High SFBDX % Rank
Net Income Ratio N/A -0.53% 5.33% 16.84%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SFBDX - Fund Manager Analysis

Managers

Reid Frankenberg


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Northern Trust Investments, Inc.

Nathan Miller


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Nate Miller is a Second Vice President at The Northern Trust Company, Chicago. He is a Portfolio Manager in the Municipal Fixed Income Group of Northern Trust Global Investments and is responsible for the management of a number of individual municipal bond portfolios.Mr. Miller joined Northern Trust in 1995 as an IMLG representative in Worldwide Operations and Technology. He relocated to Arizona in 1996 and worked as a Relationship Manager in the Corporate and Institutional Administration Group. He relocated back to Chicago in October 2003 and started as a Municipal Bond Trader for the Fixed Income Group within Northern Trust Global Investments NTGI prior to being named a Portfolio Manager in June 2005.Mr. Miller received a Bachelor of Science degree in Finance from the University of Illinois at Champaign – Urbana in 1994 and also studied in the Certified Employee Benefits Specialist program (CEBS) via the Wharton School of Business.

Tenure Analysis

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