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Trending ETFs

DWS Intermediate Tax-Free Fund

mutual fund
SZMCX
Payout Change
Pending
Price as of:
$10.98 +0.01 +0.09%
primary theme
Municipal Bond
SZMCX (Mutual Fund)

DWS Intermediate Tax-Free Fund

Payout Change
Pending
Price as of:
$10.98 +0.01 +0.09%
primary theme
Municipal Bond
SZMCX (Mutual Fund)

DWS Intermediate Tax-Free Fund

Payout Change
Pending
Price as of:
$10.98 +0.01 +0.09%
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

$10.98

$770 M

2.11%

$0.23

1.56%

Vitals

YTD Return

0.5%

1 yr return

3.5%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

0.4%

Net Assets

$770 M

Holdings in Top 10

14.0%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.56%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 38.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$500


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

$10.98

$770 M

2.11%

$0.23

1.56%

SZMCX - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.60%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DWS Intermediate Tax-Free Fund
  • Fund Family Name
    DWS Funds
  • Inception Date
    Jun 11, 2001
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Caggiano

Fund Description

Main investments. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in securities issued by municipalities across the United States and in other securities whose income is free from regular federal income tax and alternative minimum tax (AMT). The fund may invest up to 20% of net assets in securities whose income is subject to AMT.The fund can buy many types of municipal securities of all maturities. These may include revenue bonds (which are backed by revenues from a particular source) and general obligation bonds (which are typically backed by the issuer's ability to levy taxes). They may also include municipal lease obligations and investments representing an interest therein.This fund normally invests at least 65% of total assets in municipal securities rated in the three highest credit rating categories or, if unrated, determined by the Advisor to be of similar quality. The fund can invest up to 35% of total assets in debt securities rated in the fourth highest credit rating category, which is still considered investment-grade, or, if unrated, determined by the Advisor to be of similar quality. The fund may invest up to 20% of total assets in high yield debt securities (commonly referred to as junk bonds), which are those rated below the fourth highest rating category (i.e., grade BB/Ba and below), or, if unrated, determined by the Advisor to be of similar quality. Compared to investment grade debt securities, junk bonds generally pay higher yields, have higher volatility and higher risk of default on payments of interest or principal.The fund may use forward delivery bonds, which are bonds priced on a determined date but that are not issued and settled until a later period (ranging from several weeks to more than a year). Forward delivery bonds with settlement dates greater than 35 days are treated as derivatives by the fund and are subject to the fund's policies and procedures with respect to derivatives. Forward delivery bonds with settlement dates greater than 35 days generally are used for non-hedging purposes to seek to enhance potential gains.Management process. Portfolio management looks for securities that appear to offer the best opportunity to meet the fund's objective. In making its buy and sell decisions, portfolio management typically weighs a number of factors against each other, from economic outlooks and possible interest rate movements to changes in supply and demand within the municipal bond market. When evaluating any individual security and its issuer, portfolio management may consider a number of factors including the security’s credit quality and terms, such as coupon, maturity date and call date, as well as the issuer’s capital structure, leverage, and ability to meet its current obligations. Portfolio management may also consider financially material environmental, social, and governance (ESG) factors. Such factors may include, but are not limited to, exposure to climate change risks, income levels and unemployment data, and an issuer’s governance structure and practices.Although portfolio management may adjust the dollar-weighted average effective maturity of the fund’s portfolio between three and ten years, it generally intends to keep it between five and ten years. In determining the dollar-weighted average effective maturity, portfolio management uses a security’s stated maturity or, if applicable, an earlier date on which portfolio management believes it is probable that a maturity-shortening device (such as a call, a put, prerefunding, prepayment or redemption provision, or a demand feature) will cause the security to be repaid earlier than the stated maturity date.
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SZMCX - Performance

Return Ranking - Trailing

Period SZMCX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -2.9% 17.0% 66.47%
1 Yr 3.5% -1.4% 29.0% 67.69%
3 Yr -1.4%* -11.1% 2.9% 66.40%
5 Yr 0.4%* -6.3% 1102.2% 72.96%
10 Yr 1.0%* -0.5% 248.4% 83.02%

* Annualized

Return Ranking - Calendar

Period SZMCX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -1.4% 41.0% 48.93%
2022 -9.7% -39.7% 0.3% 34.68%
2021 -1.0% -5.6% 6.9% 75.00%
2020 1.4% -2.6% 310.0% 62.81%
2019 2.8% 0.0% 26.0% 82.54%

Total Return Ranking - Trailing

Period SZMCX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -2.9% 17.0% 66.47%
1 Yr 3.5% -1.4% 29.0% 67.69%
3 Yr -1.4%* -11.1% 2.9% 66.40%
5 Yr 0.4%* -6.3% 1102.2% 72.96%
10 Yr 1.0%* -0.5% 248.4% 83.02%

* Annualized

Total Return Ranking - Calendar

Period SZMCX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% -1.3% 41.0% 68.66%
2022 -8.3% -39.7% 1.1% 39.63%
2021 0.5% -4.8% 23761504.0% 76.86%
2020 3.8% -1.5% 17057.9% 49.49%
2019 5.4% 0.2% 3514.6% 73.74%

NAV & Total Return History


SZMCX - Holdings

Concentration Analysis

SZMCX Category Low Category High SZMCX % Rank
Net Assets 770 M 3.22 M 71.9 B 34.53%
Number of Holdings 284 2 13067 40.81%
Net Assets in Top 10 107 M -317 M 3.56 B 42.04%
Weighting of Top 10 13.96% 2.0% 100.2% 68.53%

Top 10 Holdings

  1. VIRGINIA ST CLG BLDG AUTH EDUCTNL FACS REVENUE 21ST CENTURY 2.47%
  2. MICHIGAN ST FIN AUTH REVENUE 1.45%
  3. ATLANTA GA WTR WSTWTR REVENUE 1.38%
  4. DENVER CITY CNTY CO ARPT REVENUE 1.38%
  5. NEW YORK ST THRUWAY AUTH 1.30%
  6. MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE 1.30%
  7. PHILADELPHIA PA SCH DIST 1.21%
  8. SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE 1.17%
  9. NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 1.17%
  10. BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE 1.13%

Asset Allocation

Weighting Return Low Return High SZMCX % Rank
Bonds
102.82% 0.00% 150.86% 4.09%
Cash
0.01% -50.86% 46.80% 87.72%
Stocks
0.00% 0.00% 99.81% 47.86%
Preferred Stocks
0.00% 0.00% 0.56% 40.22%
Other
0.00% -3.18% 33.35% 45.55%
Convertible Bonds
0.00% 0.00% 0.93% 40.18%

Bond Sector Breakdown

Weighting Return Low Return High SZMCX % Rank
Municipal
98.70% 44.39% 100.00% 44.16%
Government
0.83% 0.00% 52.02% 1.76%
Cash & Equivalents
0.01% 0.00% 46.24% 53.87%
Derivative
0.00% -3.18% 19.67% 42.37%
Securitized
0.00% 0.00% 5.93% 40.57%
Corporate
0.00% 0.00% 9.41% 49.84%

Bond Geographic Breakdown

Weighting Return Low Return High SZMCX % Rank
US
102.82% 0.00% 142.23% 4.09%
Non US
0.00% 0.00% 23.89% 44.25%

SZMCX - Expenses

Operational Fees

SZMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.56% 0.01% 20.65% 12.22%
Management Fee 0.32% 0.00% 1.20% 19.09%
12b-1 Fee 1.00% 0.00% 1.00% 84.89%
Administrative Fee 0.10% 0.01% 0.44% 36.59%

Sales Fees

SZMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load 1.00% 0.25% 5.00% 24.58%

Trading Fees

SZMCX 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.

SZMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 38.00% 0.00% 283.00% 85.72%

SZMCX - Distributions

Dividend Yield Analysis

SZMCX Category Low Category High SZMCX % Rank
Dividend Yield 2.11% 0.00% 14.51% 86.56%

Dividend Distribution Analysis

SZMCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

SZMCX Category Low Category High SZMCX % Rank
Net Income Ratio 1.60% -0.53% 5.33% 66.93%

Capital Gain Distribution Analysis

SZMCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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SZMCX - Fund Manager Analysis

Managers

Matthew Caggiano


Start Date

Tenure

Tenure Rank

Apr 28, 2014

8.1

8.1%

Portfolio Manager for Municipal Bonds: Boston, MA Joined the Company in 1989. Prior to his current role, Matthew served as a Portfolio Manager and Trader for Insurance portfolios. Previously, Matthew served as an Assistant Trader for Tax Exempt Municipal Bond funds and as a Research Assistant for the Municipal Bond Group BS from Pennsylvania State University; MS from Boston College; CFA Charterholder

Chad Farrington


Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Portfolio Manager for Municipal Bonds - Joined DWS in 2018 with 20 years of industry experience; previously, worked as Portfolio Manager, Head of Municipal Research, and Senior Credit Analyst at Columbia Threadneedle - BS, Montana State University

Patrick Gallagher


Start Date

Tenure

Tenure Rank

Nov 19, 2021

0.53

0.5%

Patrick Gallagher, Portfolio Manager Fixed Income. Portfolio Manager of the fund. Began managing the fund in 2021. ■Joined DWS in 2003. Prior to his current role, he served as an Insurance Reporting Supervisor in the Insurance Asset Management business and as Investment Accountant in the Private Wealth Management Division. ■He went to Colby College for BA Education.

Tenure Analysis

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