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There are plenty of choices in the Muni - Bonds category, but where should you start your research? Well, one fund that may not be worth investigating is Nuveen Municipals Total Return Managed Accounts Portfolio (NMTRX - Free Report) . NMTRX possesses a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes NMTRX as Muni - Bonds, which is a segment packed with options. Muni - Bonds funds invest in debt securities issued by states or local municipalities. These are generally used to finance construction of infrastructure, pay for schools, or other government functions. Some are backed by taxes (revenue bonds), while others are " general obligation " and may not be backed by a defined source. Investors usually appreciate the tax benefits that come with many municipal bonds, which are especially impressive for those in high tax brackets.
History of Fund/Manager
Nuveen is based in Chicago, IL, and is the manager of NMTRX. Nuveen Municipals Total Return Managed Accounts Portfolio made its debut in January of 2008, and since then, NMTRX has accumulated about $1.44 billion in assets, per the most up-to-date date available. The fund's current manager, Martin J. Doyle, has been in charge of the fund since January of 2008.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 0.41%, and is in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 1.6%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of NMTRX over the past three years is 6.6% compared to the category average of 7.68%. Over the past 5 years, the standard deviation of the fund is 6.16% compared to the category average of 7.17%. This makes the fund less volatile than its peers over the past half-decade.
With a beta of 0.65, this fund is less volatile than a broad market index of fixed income securities. Taking this into account, NMTRX has a negative alpha of -0.14, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, NMTRX has 50.5% in high quality bonds rated at least 'AA' or higher, while 34.2% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, NMTRX is a no load fund. It has an expense ratio of 0.07% compared to the category average of 0.44%. From a cost perspective, NMTRX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively weak performance, average downside risk, and lower fees, Nuveen Municipals Total Return Managed Accounts Portfolio ( NMTRX ) has a low Zacks Mutual Fund rank, and therefore looks a somewhat weak choice for investors right now.
Don't stop here for your research on Muni - Bonds funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare NMTRX to its peers as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.
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Is NMTRX a Strong Bond Fund Right Now?
There are plenty of choices in the Muni - Bonds category, but where should you start your research? Well, one fund that may not be worth investigating is Nuveen Municipals Total Return Managed Accounts Portfolio (NMTRX - Free Report) . NMTRX possesses a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes NMTRX as Muni - Bonds, which is a segment packed with options. Muni - Bonds funds invest in debt securities issued by states or local municipalities. These are generally used to finance construction of infrastructure, pay for schools, or other government functions. Some are backed by taxes (revenue bonds), while others are " general obligation " and may not be backed by a defined source. Investors usually appreciate the tax benefits that come with many municipal bonds, which are especially impressive for those in high tax brackets.
History of Fund/Manager
Nuveen is based in Chicago, IL, and is the manager of NMTRX. Nuveen Municipals Total Return Managed Accounts Portfolio made its debut in January of 2008, and since then, NMTRX has accumulated about $1.44 billion in assets, per the most up-to-date date available. The fund's current manager, Martin J. Doyle, has been in charge of the fund since January of 2008.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 0.41%, and is in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 1.6%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of NMTRX over the past three years is 6.6% compared to the category average of 7.68%. Over the past 5 years, the standard deviation of the fund is 6.16% compared to the category average of 7.17%. This makes the fund less volatile than its peers over the past half-decade.
With a beta of 0.65, this fund is less volatile than a broad market index of fixed income securities. Taking this into account, NMTRX has a negative alpha of -0.14, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, NMTRX has 50.5% in high quality bonds rated at least 'AA' or higher, while 34.2% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, NMTRX is a no load fund. It has an expense ratio of 0.07% compared to the category average of 0.44%. From a cost perspective, NMTRX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively weak performance, average downside risk, and lower fees, Nuveen Municipals Total Return Managed Accounts Portfolio ( NMTRX ) has a low Zacks Mutual Fund rank, and therefore looks a somewhat weak choice for investors right now.
Don't stop here for your research on Muni - Bonds funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare NMTRX to its peers as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.