SMLIX Performance — DWS Managed Municipal Bond Fund, Institutional Class
Data updated: 2026-09-24
SMLIX returned +1.90% year to date and +6.93% over one year to May 2026. Annualised returns are +4.19% over 3 years and +0.60% over 5 years. Against its Long-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $113, against $112 for the category, and to $107 over one year, against $107. Volatility over the past three years was 6.07% a year. In the 12 months to May 2026 the fund lost a net $143.7M, and assets reached $1.63B.
SMLIX Growth of $100
What $100 invested in DWS Managed Municipal Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | SMLIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $113 | $112 |
| 5 years (Jun 2021 – May 2026) | $103 | $103 |
| Since data start (Sep 2019 – May 2026) | $109 | $109 |
SMLIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.90% |
| 1 year | +6.93% |
| 3 years (annualised) | +4.19% |
| 5 years (annualised) | +0.60% |
SMLIX Annual Returns
Calendar-year total returns of DWS Managed Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.90% |
| 2025 | +2.82% |
| 2024 | +2.69% |
| 2023 | +7.74% |
| 2022 | −11.89% |
| 2021 | +2.56% |
| 2020 | +4.15% |
| 2019 (Sep–Dec) | −0.15% |
SMLIX 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% | +1.5% | −2.0% | +1.2% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.0% | −1.8% | −0.9% | −0.5% | +0.6% | −0.8% | +0.9% | +2.8% | +1.4% | +0.2% | −0.1% |
| 2024 | −0.2% | +0.3% | +0.2% | −1.3% | +0.2% | +1.9% | +0.9% | +0.7% | +1.2% | −1.5% | +1.9% | −1.6% |
| 2023 | +3.7% | −2.5% | +1.9% | +0.2% | −0.7% | +1.2% | +0.3% | −1.3% | −3.0% | −1.7% | +6.7% | +3.1% |
| 2022 | −2.9% | −0.7% | −3.5% | −3.4% | +1.0% | −2.4% | +3.0% | −2.4% | −4.5% | −1.7% | +5.6% | −0.4% |
| 2021 | +0.9% | −1.9% | +0.7% | +1.2% | +0.8% | +0.4% | +0.9% | −0.4% | −0.9% | −0.2% | +1.1% | +0.1% |
| 2020 | +1.9% | +1.6% | −5.9% | −2.3% | +3.2% | +1.8% | +1.8% | −0.3% | −0.2% | −0.2% | +1.9% | +1.0% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | +0.1% | +0.2% | +0.3% |
SMLIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.07%
- 3-year Sharpe ratio: -0.05 (vs 4.5% risk-free rate)
- Best month: +6.74% (Nov 2023)
- Worst month: −2.99% (Sep 2023)
SMLIX Fund Flows
Monthly money in and out of DWS Managed Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: −$143.7M
- 12-month gross sales (incl. reinvestments): $124.7M
- Sales ÷ redemptions: 0.46×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $8.5M | $17.7M | −$9.2M |
| Apr 2026 | $8.6M | $16.3M | −$7.6M |
| Mar 2026 | $12.3M | $18.9M | −$6.6M |
| Feb 2026 | $8.5M | $17.9M | −$9.3M |
| Jan 2026 | $12.4M | $19.7M | −$7.3M |
| Dec 2025 | $13.0M | $34.2M | −$21.3M |
| Nov 2025 | $8.3M | $20.9M | −$12.7M |
| Oct 2025 | $9.3M | $25.8M | −$16.6M |
| Sep 2025 | $11.8M | $32.7M | −$20.9M |
| Aug 2025 | $11.6M | $21.0M | −$9.4M |
| Jul 2025 | $11.2M | $23.3M | −$12.0M |
| Jun 2025 | $9.2M | $19.9M | −$10.7M |
SMLIX Assets Under Management
Net assets of DWS Managed Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.63B |
| 2026-02-28 | $1.67B |
| 2025-11-30 | $1.69B |
| 2025-08-31 | $1.69B |
| 2025-05-31 | $1.73B |
| 2025-02-28 | $1.85B |
| 2024-11-30 | $1.94B |
| 2024-08-31 | $1.97B |
| 2024-05-31 | $1.96B |
| 2024-02-29 | $2.04B |
| 2023-11-30 | $2.05B |
| 2023-08-31 | $2.11B |
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.