MGSMX Performance — DWS Short-Term Municipal Bond Fund, Institutional Class
Data updated: 2026-09-25
MGSMX returned +0.92% year to date and +2.31% over one year to Jul 2026. Annualised returns are +3.38% over 3 years and +1.73% over 5 years. Against its Short-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $110, against $110 for the category, and to $102 over one year, against $103. Volatility over the past three years was 1.70% a year. In the 12 months to Jul 2026 the fund took in a net $202K, and assets reached $130.20M.
MGSMX Growth of $100
What $100 invested in DWS Short-Term Municipal Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | MGSMX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $102 | $103 |
| 3 years (Aug 2023 – Jul 2026) | $110 | $110 |
| 5 years (Aug 2021 – Jul 2026) | $109 | $108 |
| Since data start (Aug 2019 – Jul 2026) | $114 | $112 |
MGSMX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.92% |
| 1 year | +2.31% |
| 3 years (annualised) | +3.38% |
| 5 years (annualised) | +1.73% |
MGSMX Annual Returns
Calendar-year total returns of DWS Short-Term Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +0.92% |
| 2025 | +3.78% |
| 2024 | +3.09% |
| 2023 | +4.25% |
| 2022 | −2.91% |
| 2021 | +0.47% |
| 2020 | +2.79% |
| 2019 (Aug–Dec) | +0.64% |
MGSMX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.6% | +0.5% | −0.8% | +0.2% | +0.2% | +0.4% | −0.4% | — | — | — | — | — |
| 2025 | +0.5% | +0.5% | −0.1% | −0.2% | +0.6% | +0.7% | +0.4% | +0.5% | +0.4% | +0.1% | +0.1% | +0.2% |
| 2024 | +0.1% | +0.1% | 0.0% | −0.1% | 0.0% | +0.8% | +0.9% | +0.8% | +0.5% | −0.5% | +0.5% | −0.2% |
| 2023 | +1.2% | −0.9% | +1.1% | 0.0% | −0.3% | +0.5% | +0.2% | −0.1% | −0.6% | +0.1% | +1.9% | +1.0% |
| 2022 | −1.2% | −0.2% | −1.3% | −1.1% | +0.6% | −0.3% | +1.2% | −1.0% | −1.4% | −0.1% | +1.7% | +0.2% |
| 2021 | +0.3% | −0.5% | +0.1% | +0.4% | +0.1% | +0.1% | +0.3% | −0.1% | −0.3% | −0.1% | +0.2% | 0.0% |
| 2020 | +0.6% | +0.3% | −1.6% | −0.2% | +1.5% | +0.5% | +0.6% | +0.1% | +0.1% | −0.1% | +0.6% | +0.2% |
| 2019 | — | — | — | — | — | — | — | +0.4% | −0.4% | +0.2% | +0.1% | +0.2% |
MGSMX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 1.70%
- 3-year Sharpe ratio: -0.66 (vs 4.5% risk-free rate)
- Best month: +1.91% (Nov 2023)
- Worst month: −0.76% (Mar 2026)
MGSMX Fund Flows
Monthly money in and out of DWS Short-Term Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $202K
- 12-month gross sales (incl. reinvestments): $36.7M
- Sales ÷ redemptions: 1.01×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $1.5M | $2.2M | −$680K |
| Jun 2026 | $2.2M | $1.9M | $281K |
| May 2026 | $3.8M | $1.3M | $2.5M |
| Apr 2026 | $1.9M | $6.3M | −$4.4M |
| Mar 2026 | $7.0M | $3.9M | $3.0M |
| Feb 2026 | $1.3M | $4.9M | −$3.6M |
| Jan 2026 | $5.6M | $2.1M | $3.4M |
| Dec 2025 | $3.6M | $4.1M | −$432K |
| Nov 2025 | $2.2M | $1.4M | $856K |
| Oct 2025 | $1.7M | $2.9M | −$1.1M |
| Sep 2025 | $2.0M | $3.9M | −$1.9M |
| Aug 2025 | $3.9M | $1.6M | $2.3M |
MGSMX Assets Under Management
Net assets of DWS Short-Term Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $130.20M |
| 2026-04-30 | $128.70M |
| 2026-01-31 | $134.65M |
| 2025-10-31 | $130.32M |
| 2025-07-31 | $130.80M |
| 2025-04-30 | $129.56M |
| 2025-01-31 | $135.91M |
| 2024-10-31 | $131.36M |
| 2024-07-31 | $138.65M |
| 2024-04-30 | $143.50M |
| 2024-01-31 | $153.28M |
| 2023-10-31 | $153.14M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.