MUAMX Performance — Short Duration Municipal Income Portfolio, Class A
Data updated: 2024-02-28
MUAMX returned +4.54% over one year to Dec 2023. The annualised 3-year return is +1.87%. The fund beat its Short-Term Municipal Bond category average: $100 invested three years ago grew to $106, against $101 for the category, and to $105 over one year, against $104. Volatility over the past three years was 1.12% a year. In the 12 months to Dec 2023 the fund lost a net $16.6M, and assets reached $142.99M.
MUAMX Growth of $100
What $100 invested in Short Duration Municipal Income Portfolio 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 | MUAMX | Category average |
|---|---|---|
| 1 year (Jan 2023 – Dec 2023) | $105 | $104 |
| 3 years (Jan 2021 – Dec 2023) | $106 | $101 |
| Since data start (Jul 2019 – Dec 2023) | $107 | $104 |
MUAMX Trailing Returns
Total returns to Dec 2023, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +4.54% |
| 3 years (annualised) | +1.87% |
MUAMX Annual Returns
Calendar-year total returns of Short Duration Municipal Income Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2023 | +4.54% |
| 2022 | +1.08% |
| 2021 | +0.05% |
| 2020 | +0.45% |
| 2019 (Jul–Dec) | +0.59% |
MUAMX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | +0.2% | +0.2% | +0.3% | +0.2% | +0.3% | +0.3% | +0.3% | +0.3% | −0.3% | +0.1% | +1.7% | +0.9% |
| 2022 | 0.0% | 0.0% | 0.0% | 0.0% | +0.1% | +0.1% | +0.1% | +0.1% | +0.1% | +0.2% | +0.2% | +0.2% |
| 2021 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | +0.1% | −0.1% | 0.0% | 0.0% | 0.0% | +0.1% |
| 2020 | +0.1% | +0.1% | +0.2% | +0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| 2019 | — | — | — | — | — | — | +0.1% | +0.1% | +0.1% | +0.1% | +0.1% | +0.1% |
MUAMX Risk
Risk measures from monthly returns over Jan 2021 – Dec 2023.
- 3-year volatility (annualised): 1.12%
- 3-year Sharpe ratio: -2.35 (vs 4.5% risk-free rate)
- Best month: +1.70% (Nov 2023)
- Worst month: −0.29% (Sep 2023)
MUAMX Fund Flows
Monthly money in and out of Short Duration Municipal Income Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$16.6M
- 12-month gross sales (incl. reinvestments): $157.7M
- Sales ÷ redemptions: 0.90×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Dec 2023 | $4.0M | $8.3M | −$4.2M |
| Nov 2023 | $7.6M | $39.2M | −$31.6M |
| Oct 2023 | $5.2M | $16.2M | −$11.0M |
| Sep 2023 | $4.2M | $14.8M | −$10.7M |
| Aug 2023 | $3.6M | $19.1M | −$15.4M |
| Jul 2023 | $7.7M | $19.7M | −$12.0M |
| Jun 2023 | $21.5M | $13.9M | $7.6M |
| May 2023 | $10.6M | $5.4M | $5.2M |
| Apr 2023 | $54.3M | $5.1M | $49.2M |
| Mar 2023 | $6.7M | $3.9M | $2.7M |
| Feb 2023 | $5.2M | $9.0M | −$3.8M |
| Jan 2023 | $27.1M | $19.7M | $7.4M |
MUAMX Assets Under Management
Net assets of Short Duration Municipal Income Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2023-12-31 | $142.99M |
| 2023-09-30 | $187.65M |
| 2023-06-30 | $226.23M |
| 2023-03-31 | $164.27M |
| 2022-12-31 | $157.92M |
| 2022-09-30 | $146.83M |
| 2022-06-30 | $139.30M |
| 2022-03-31 | $133.09M |
| 2021-12-31 | $150.00M |
| 2021-09-30 | $162.50M |
| 2021-06-30 | $185.17M |
| 2021-03-31 | $227.85M |
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.