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If you've been stuck searching for Muni - Bonds funds, you might want to consider passing on by Nuveen Municipals Total Return Managed Accounts Portfolio (NMTRX) as a possibility. NMTRX has a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify NMTRX in the Muni - Bonds category, an area rife with potential choices. Muni - Bonds funds focus their investments on debt securities issued by state and local governments. These are typically used to pay for the construction of infrastructure, the operation of public schools, and other municipal functions. These securities can come in the form of revenue bonds, which are backed by taxes, as well as " general obligation " bonds that are not backed by a defined source. Investors are usually interested that come with most municipal bonds, which can be especially important for those in higher tax brackets.
History of Fund/Manager
Nuveen is responsible for NMTRX, and the company is based out of Chicago, IL. Nuveen Municipals Total Return Managed Accounts Portfolio made its debut in January of 2008, and since then, NMTRX has accumulated about $1.59 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 carries a 5-year annualized total return of 1%, 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 -0.89%, 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. NMTRX's standard deviation over the past three years is 7.3% compared to the category average of 8.23%. The fund's standard deviation over the past 5 years is 6.84% compared to the category average of 8.22%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.72, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, NMTRX has a negative alpha of -0.27, which measures performance on a risk-adjusted basis.