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Trending ETFs

Spirit of America Municipal Tax Free Bond Fund

mutual fund
SOIMX
Payout Change
Pending
Price as of:
$8.55 +0.01 +0.12%
primary theme
Municipal Bond
SOIMX (Mutual Fund)

Spirit of America Municipal Tax Free Bond Fund

Payout Change
Pending
Price as of:
$8.55 +0.01 +0.12%
primary theme
Municipal Bond
SOIMX (Mutual Fund)

Spirit of America Municipal Tax Free Bond Fund

Payout Change
Pending
Price as of:
$8.55 +0.01 +0.12%
primary theme
Municipal Bond

Name

As of 06/14/2024

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

$8.55

$35.1 M

2.92%

$0.25

1.11%

Vitals

YTD Return

0.2%

1 yr return

1.8%

3 Yr Avg Return

-1.7%

5 Yr Avg Return

N/A

Net Assets

$35.1 M

Holdings in Top 10

19.3%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.11%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 11.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$8.55

$35.1 M

2.92%

$0.25

1.11%

SOIMX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return -1.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.08%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Spirit of America Municipal Tax Free Bond Fund
  • Fund Family Name
    Spirit of America
  • Inception Date
    May 01, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Douglas Revello

Fund Description

Principal Investment Strategies: The Municipal Tax Free Bond Fund seeks to achieve its investment objectives by investing, under normal circumstances, at least 80% of its assets in municipal bonds that are exempt from federal income tax, including the alternative minimum tax (“AMT”). Typically, municipal bonds are issued by or on behalf of states and local governments and their agencies, authorities and/or other instrumentalities. The portfolio manager seeks out municipal bonds with the potential to offer high current income, generally focusing on municipal bonds that can provide consistently attractive current yields. Although the Municipal Tax Free Bond Fund tends to maintain a long-weighted average maturity, there are no maturity restrictions on the Municipal Tax Free Bond Fund or on individual securities.

The Municipal Tax Free Bond Fund intends to invest a substantial portion of its assets in high yield municipal bonds and “private activity” bonds that, at the time of purchase, are rated below investment grade by Standard and Poor’s, Moody’s or Fitch, or if unrated, determined by the Fund to be of comparable quality (i.e., “junk bonds”). The Municipal Tax Free Bond Fund may also invest, without limitation, in higher rated municipal bonds. The Municipal Tax Free Bond Fund may invest a portion of its total assets in “private activity” bonds whose interest is a tax-preference item for purposes of the AMT. For Municipal Tax Free Bond Fund investors subject to the AMT, distributions derived from “private activity” bonds must be included in their AMT calculations and, as such, a portion of the Municipal Tax Free Bond Fund’s distribution may be subject to federal income tax.

The Municipal Tax Free Bond Fund may also invest a portion of its total assets in municipal bonds that finance projects such as those relating to utilities, transportation, health care, housing and education, and a portion of its total assets in industrial development bonds.

The Municipal Tax Free Bond Fund may invest in other debt obligations, including two types of municipal bonds known as tobacco settlement revenue bonds and tobacco bonds subject to a state’s appropriation pledge (“Tobacco Bonds”).

The Municipal Tax Free Bond Fund may invest in municipal lease agreements and certificates of participation. Municipal leases are used by state and local governments to obtain financing to acquire land, equipment or facilities. Certificates of participation represent a proportionate interest in payments made under municipal lease obligations.

The Municipal Tax Free Bond Fund may invest in other types of fixed income instruments including securities issues by entities, such as trusts, whose underlying assets are municipal bonds. The Municipal Tax Free Bond Fund may also invest in private placements. At times, the Municipal Tax Free Bond Fund’s holdings may be focused on a particular state or geographic region.

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SOIMX - Performance

Return Ranking - Trailing

Period SOIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.9% 17.0% 78.10%
1 Yr 1.8% -1.4% 29.0% 94.99%
3 Yr -1.7%* -11.1% 2.9% 77.51%
5 Yr N/A* -6.3% 1102.2% 67.37%
10 Yr N/A* -0.6% 248.4% 58.79%

* Annualized

Return Ranking - Calendar

Period SOIMX Return Category Return Low Category Return High Rank in Category (%)
2023 2.4% -1.4% 41.0% 62.80%
2022 -10.6% -39.7% 0.3% 41.02%
2021 -1.1% -5.6% 6.9% 76.53%
2020 N/A -2.6% 310.0% N/A
2019 N/A 0.0% 26.0% N/A

Total Return Ranking - Trailing

Period SOIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.9% 17.0% 78.10%
1 Yr 1.8% -1.4% 29.0% 94.99%
3 Yr -1.7%* -11.1% 2.9% 77.51%
5 Yr N/A* -6.3% 1102.2% 56.38%
10 Yr N/A* -0.6% 248.4% 54.82%

* Annualized

Total Return Ranking - Calendar

Period SOIMX Return Category Return Low Category Return High Rank in Category (%)
2023 4.2% -1.3% 41.0% 79.87%
2022 -8.7% -39.7% 1.1% 43.13%
2021 1.1% -4.8% 23761504.0% 63.03%
2020 N/A -1.5% 17057.9% N/A
2019 N/A 0.2% 3514.6% N/A

NAV & Total Return History


SOIMX - Holdings

Concentration Analysis

SOIMX Category Low Category High SOIMX % Rank
Net Assets 35.1 M 3.22 M 71.9 B 95.51%
Number of Holdings 153 2 13067 70.96%
Net Assets in Top 10 6.62 M -317 M 3.56 B 97.14%
Weighting of Top 10 19.26% 2.0% 100.2% 44.99%

Top 10 Holdings

  1. School Board of Miami-Dade County/The 2.96%
  2. City of Orlando, FL 2.92%
  3. Nevada System of Higher Education 2.07%
  4. California State Public Works Board 1.84%
  5. University of Nebraska Facilities Corp/The 1.72%
  6. Southern Minnesota Municipal Power Agency 1.67%
  7. Massachusetts Housing Finance Agency 1.55%
  8. State of Connecticut 1.54%
  9. City of Phoenix, AZ 1.52%
  10. Pennsylvania Turnpike Commission 1.47%

Asset Allocation

Weighting Return Low Return High SOIMX % Rank
Bonds
98.98% 0.00% 150.86% 42.53%
Cash
1.02% -50.86% 46.80% 55.95%
Stocks
0.00% 0.00% 99.81% 49.68%
Preferred Stocks
0.00% 0.00% 0.56% 42.37%
Other
0.00% -3.18% 33.35% 47.56%
Convertible Bonds
0.00% 0.00% 0.93% 41.55%

Bond Sector Breakdown

Weighting Return Low Return High SOIMX % Rank
Municipal
99.17% 44.39% 100.00% 36.07%
Derivative
0.00% -3.18% 19.67% 44.25%
Cash & Equivalents
0.00% 0.00% 46.24% 74.46%
Securitized
0.00% 0.00% 5.93% 42.73%
Corporate
0.00% 0.00% 9.41% 51.47%
Government
0.00% 0.00% 52.02% 45.99%

Bond Geographic Breakdown

Weighting Return Low Return High SOIMX % Rank
US
98.98% 0.00% 142.23% 40.61%
Non US
0.00% 0.00% 23.89% 45.68%

SOIMX - Expenses

Operational Fees

SOIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.11% 0.01% 20.65% 26.46%
Management Fee 0.60% 0.00% 1.20% 97.34%
12b-1 Fee 0.00% 0.00% 1.00% 6.63%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

SOIMX 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

SOIMX 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.

SOIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 0.00% 283.00% 25.94%

SOIMX - Distributions

Dividend Yield Analysis

SOIMX Category Low Category High SOIMX % Rank
Dividend Yield 2.92% 0.00% 14.51% 91.62%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SOIMX Category Low Category High SOIMX % Rank
Net Income Ratio 2.08% -0.53% 5.33% 42.74%

Capital Gain Distribution Analysis

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

Distributions History

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SOIMX - Fund Manager Analysis

Managers

Douglas Revello


Start Date

Tenure

Tenure Rank

Nov 17, 2015

6.54

6.5%

Douglas Revello serves as the Portfolio Manager. Mr. Revello became the Co-Portfolio Manager in November 18, 2015 and transitioned to Portfolio Manager on July 1, 2016. Mr. Revello has been associated with Spirit of America Management Corp. since May 18, 2009 as the Co-Portfolio Manager through November 17, 2015, and was designated Portfolio Manager on November 18, 2015. Mr. Revello started working at DLA in 1988 as an assistant municipal bond trader and was soon promoted to municipal bond underwriter. As municipal bond underwriter, he led DLA to obtain syndicate membership and manager status for numerous municipal issuers by successfully spearheading the development of DLA’s Syndicate Department and increasing DLA’s municipal underwriting presence. His responsibilities also include institutional and dealer sales. In 2007, Mr. Revello was promoted to Senior Vice President at DLA. He received a Master of Business Administration from Dowling College. Previous employments include J.P. Morgan and Drexel, Burnham & Lambert. Mr. Revello holds a General Securities Representative (Series 7) license, and Uniform Securities Agent State Law Examination (Series 63) license.

Mark Reilly


Start Date

Tenure

Tenure Rank

Jan 10, 2018

4.39

4.4%

Mark Reilly serves as the Portfolio Manager. Mr. Reilly was previously designated as a Co-Portfolio Manager. Mr. Reilly joined Spirit of America Management Corp on November 18, 2015. Prior to joining Spirit of America Management Corp, Mr. Reilly was the head fixed income trader at DLA, the principal underwriter and distributor, from November 2012 until November 17, 2015. He has over 20 years’ experience trading tax-free municipal bonds, taxable municipal bonds, and mortgage backed securities. Mr. Reilly has a Bachelor’s degree in finance from Adelphi University School of Banking and Money Management and began his career in finance in 1993 with DLA. He is a member of Municipal Bond Club of New York and holds several industry registrations, including General Securities Representative (Series 7) license, Uniform Securities Agent State Law Examination (Series 63) license, and registered principal (Series 23) license.

Tenure Analysis

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