NTSMX Performance — North Carolina Tax-Free Short-to-Medium Series
Data updated: 2025-09-10
NTSMX returned +2.34% over one year to Mar 2025. Annualised returns are +1.29% over 3 years and +0.57% over 5 years. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $104, against $107 for the category, and to $102 over one year, against $103. Volatility over the past three years was 3.49% a year. In the 12 months to Mar 2025 the fund lost a net $1.0M, and assets reached $8.35M.
NTSMX Growth of $100
What $100 invested in North Carolina Tax-Free Short-to-Medium Series 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 | NTSMX | Category average |
|---|---|---|
| 1 year (Apr 2024 – Mar 2025) | $102 | $103 |
| 3 years (Apr 2022 – Mar 2025) | $104 | $107 |
| 5 years (Apr 2020 – Mar 2025) | $103 | $108 |
| Since data start (Jul 2019 – Mar 2025) | $104 | $108 |
NTSMX Trailing Returns
Total returns to Mar 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +2.34% |
| 3 years (annualised) | +1.29% |
| 5 years (annualised) | +0.57% |
NTSMX Annual Returns
Calendar-year total returns of North Carolina Tax-Free Short-to-Medium Series, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 (Jan–Mar) | +0.76% |
| 2024 | +1.17% |
| 2023 | +2.53% |
| 2022 | −4.69% |
| 2021 | −0.06% |
| 2020 | +3.25% |
| 2019 (Jul–Dec) | +1.32% |
NTSMX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +0.4% | +0.3% | 0.0% | — | — | — | — | — | — | — | — | — |
| 2024 | −0.2% | 0.0% | −0.1% | −0.3% | −0.2% | +0.6% | +0.5% | +0.8% | +0.4% | −0.4% | +0.3% | −0.1% |
| 2023 | +1.5% | −1.6% | +1.4% | −0.4% | −0.8% | +0.4% | +0.1% | −0.4% | −1.0% | 0.0% | +2.5% | +0.8% |
| 2022 | −1.9% | −0.2% | −2.1% | −1.4% | +1.3% | −0.4% | +1.5% | −1.5% | −2.3% | −0.1% | +2.1% | +0.3% |
| 2021 | 0.0% | −0.8% | +0.2% | +0.5% | 0.0% | −0.1% | +0.5% | −0.2% | −0.4% | −0.2% | +0.3% | 0.0% |
| 2020 | +1.2% | +0.8% | −2.0% | −0.1% | +2.1% | −0.1% | +0.9% | −0.2% | 0.0% | −0.1% | +0.6% | +0.1% |
| 2019 | — | — | — | — | — | — | +0.8% | +0.9% | −0.9% | 0.0% | +0.2% | +0.2% |
NTSMX Risk
Risk measures from monthly returns over Apr 2022 – Mar 2025.
- 3-year volatility (annualised): 3.49%
- 3-year Sharpe ratio: -0.92 (vs 4.5% risk-free rate)
- Best month: +2.52% (Nov 2023)
- Worst month: −2.26% (Sep 2022)
NTSMX Fund Flows
Monthly money in and out of North Carolina Tax-Free Short-to-Medium Series, from SEC Form N-PORT.
- 12-month net flow: −$1.0M
- 12-month gross sales (incl. reinvestments): $379K
- Sales ÷ redemptions: 0.27×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Mar 2025 | $13K | $50K | −$37K |
| Feb 2025 | $35K | $139K | −$104K |
| Jan 2025 | $13K | $394K | −$381K |
| Dec 2024 | $132K | $7K | $125K |
| Nov 2024 | $16K | $103K | −$87K |
| Oct 2024 | $40K | $28K | $13K |
| Sep 2024 | $23K | $185K | −$162K |
| Aug 2024 | $33K | $23K | $9K |
| Jul 2024 | $17K | $112K | −$95K |
| Jun 2024 | $13K | $51K | −$39K |
| May 2024 | $17K | $541 | $16K |
| Apr 2024 | $30K | $334K | −$305K |
NTSMX Assets Under Management
Net assets of North Carolina Tax-Free Short-to-Medium Series by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-03-31 | $8.35M |
| 2024-12-31 | $8.85M |
| 2024-09-30 | $8.98M |
| 2024-06-30 | $9.01M |
| 2024-03-31 | $9.37M |
| 2023-12-31 | $9.68M |
| 2023-09-30 | $10.82M |
| 2023-06-30 | $11.19M |
| 2023-03-31 | $11.44M |
| 2022-12-31 | $11.60M |
| 2022-09-30 | $13.80M |
| 2022-06-30 | $13.50M |
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.