NITYX — Aquila Narragansett Tax-Free Income Fund
Data updated: 2024-08-21
NITYX — Aquila Narragansett Tax-Free Income Fund. Intermediate Municipal - National Bond · $145.86M AUM. Holdings, fees, performance and SEC filings.
NITYX Fund Overview
NITYX — Aquila Narragansett Tax-Free Income Fund is a US mutual fund managed by Aquila Municipal Trust, categorised as Intermediate Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Aquila Municipal Trust
- Category: Intermediate Municipal - National Bond
- Assets under management: $145.86M
- 1-year return: 2.0%
- Ticker: NITYX
- SEC CIK: 0000784056
- SEC series ID: S000041642
- Share class ID: C000129281
NITYX Investment Objective and Strategy
Aquila Narragansett Tax-Free Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Aquila Municipal Trust.
Investment objective
The Fund's objective is to provide you as high a level of current income exempt from Rhode Island state and regular Federal income taxes as is consistent with preservation of capital.
Principal investment strategy
"Under normal circumstances, at least 80% of the Fund's net assets will be invested in municipal obligations that pay interest exempt, in the opinion of bond counsel, from Rhode Island state and regular Federal income taxes, the income paid upon which will not be subject to the Federal alternative minimum tax on individuals. In general, all or almost all of these obligations are issued by the State of Rhode Island, its counties and various other local authorities; these obligations may also include certain other governmental issuers. We call these ""Rhode Island Obligations."" These securities may include participation or other interests in municipal securities and variable rate demand notes. Some Rhode Island Obligations, such as general obligation issues, are backed by the issuer's taxing authority, while other Rhode Island Obligations, such as revenue bonds, are backed only by revenues from certain facilities or other sources and not by the issuer itself.
These obligations can be of any maturity, but the Fund's weighted average maturity has traditionally been between 5 and 15 years. At the time of purchase, the Fund's Rhode Island Obligations must be of investment grade quality. This means that they must either be rated within the four highest credit ratings assigned by nationally recognized statistical rating organizations or, if unrated, be determined to be of comparable quality by the Fund's Sub-Adviser, Citizens Investment Advisors, a department of Citizens Bank, N.A. (the ""Sub-Adviser""). The Sub-Adviser selects obligations for the Fund's portfolio in order to best achieve the Fund's objective by considering various characteristics including quality, maturity and coupon rate."
NITYX Holdings
Top 10 holdings of Aquila Narragansett Tax-Free Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Dreyfus Treasury Obligations Cash Management Fund | 3.10% |
| Narragansett Bay Ri Commission | 2.16% |
| Rhode Island St Hlth & Eductnl | 1.92% |
| Rhode Island St Hlth & Eductnl | 1.72% |
| Providence Ri Public Bldgs Aut | 1.71% |
| Lincoln Ri | 1.53% |
| Rhode Island St Hlth & Eductnl | 1.45% |
| Providence Ri Public Bldgs Aut | 1.42% |
| Providence Ri | 1.38% |
| Rhode Island St Hlth & Eductnl | 1.38% |
NITYX Portfolio Allocation
Asset-class allocation of Aquila Narragansett Tax-Free Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 96.1% |
| Cash & Equivalents | 3.1% |
NITYX Performance
Total returns for NITYX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 2.0% |
| 3 years (annualised) | -1.2% |
| 5 years (annualised) | 0.6% |
NITYX Risk Information
Risk metrics for NITYX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.3%
NITYX Costs and Fees
NITYX costs about $71 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.71%
- Gross expense ratio: 0.73%
- Portfolio turnover: 3%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
NITYX Cashflows
Over the 12 months to 2024-06, Aquila Narragansett Tax-Free Income Fund had net outflows of $5.59M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-06 | −$6.95M |
| 2024-05 | −$15.61M |
| 2024-04 | −$15.31M |
| 2024-03 | −$2.40M |
| 2024-02 | −$1.85M |
| 2024-01 | $1.14M |
NITYX Debt Constituents
Largest debt holdings of Aquila Narragansett Tax-Free Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Narragansett Bay Ri Commission | 2.16% |
| Rhode Island St Hlth & Eductnl | 1.92% |
| Rhode Island St Hlth & Eductnl | 1.72% |
| Providence Ri Public Bldgs Aut | 1.71% |
| Lincoln Ri | 1.53% |
| Rhode Island St Hlth & Eductnl | 1.45% |
| Providence Ri Public Bldgs Aut | 1.42% |
| Providence Ri | 1.38% |
| Rhode Island St Hlth & Eductnl | 1.38% |
| Providence Ri Public Bldgs Aut | 1.37% |
NITYX Prospectus and SEC Filings
Official Aquila Narragansett Tax-Free Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-07-20
- Prospectus (485BPOS) — filed 2022-07-22
- Prospectus (485BPOS) — filed 2021-07-22
- Portfolio holdings (N-PORT) — filed 2024-08-21
- Portfolio holdings (N-PORT) — filed 2024-05-23
- Portfolio holdings (N-PORT) — filed 2024-02-22
- Annual census (N-CEN) — filed 2024-06-12
- Annual census (N-CEN) — filed 2023-06-07
Related Funds
Other Intermediate Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.