SMTFX Performance — Sit Minnesota Tax-Free Income Fund
Data updated: 2026-08-21
SMTFX returned +3.72% year to date and +10.60% over one year to Jun 2026. Annualised returns are +4.56% over 3 years and +1.14% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $114, against $112 for the category, and to $111 over one year, against $108. Volatility over the past three years was 5.48% a year. In the 12 months to Jun 2026 the fund took in a net $8.7M, and assets reached $403.23M.
SMTFX Growth of $100
What $100 invested in Sit Minnesota Tax-Free Income 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 | SMTFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $111 | $108 |
| 3 years (Jul 2023 – Jun 2026) | $114 | $112 |
| 5 years (Jul 2021 – Jun 2026) | $106 | $103 |
| Since data start (Jul 2019 – Jun 2026) | $114 | $113 |
SMTFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +3.72% |
| 1 year | +10.60% |
| 3 years (annualised) | +4.56% |
| 5 years (annualised) | +1.14% |
SMTFX Annual Returns
Calendar-year total returns of Sit Minnesota Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +3.72% |
| 2025 | +4.59% |
| 2024 | +3.96% |
| 2023 | +4.20% |
| 2022 | −10.60% |
| 2021 | +2.58% |
| 2020 | +3.55% |
| 2019 (Jul–Dec) | +1.95% |
SMTFX 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 | +1.0% | +1.8% | −2.5% | +1.7% | +0.6% | +1.1% | — | — | — | — | — | — |
| 2025 | 0.0% | +1.0% | −2.5% | −1.2% | 0.0% | +0.8% | −0.6% | +1.3% | +3.5% | +1.7% | +0.4% | +0.4% |
| 2024 | +0.3% | +0.9% | +0.1% | −1.0% | −0.1% | +2.2% | +0.7% | +0.4% | +1.4% | −1.0% | +1.7% | −1.5% |
| 2023 | +2.5% | −1.8% | +1.1% | −0.2% | −0.4% | +1.6% | +0.3% | −1.1% | −2.8% | −1.6% | +4.5% | +2.3% |
| 2022 | −2.9% | −0.9% | −3.4% | −3.1% | +1.7% | −2.9% | +2.9% | −2.4% | −4.0% | −0.7% | +4.8% | +0.2% |
| 2021 | +0.6% | −1.1% | +0.5% | +0.9% | +0.5% | +0.5% | +0.8% | −0.2% | −0.9% | −0.1% | +0.9% | +0.2% |
| 2020 | +1.4% | +1.2% | −4.7% | −2.3% | +3.0% | +1.5% | +1.8% | −0.1% | +0.2% | −0.2% | +1.4% | +0.7% |
| 2019 | — | — | — | — | — | — | +0.6% | +1.4% | −0.4% | +0.1% | +0.1% | +0.1% |
SMTFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 5.48%
- 3-year Sharpe ratio: 0.01 (vs 4.5% risk-free rate)
- Best month: +4.45% (Nov 2023)
- Worst month: −2.76% (Sep 2023)
SMTFX Fund Flows
Monthly money in and out of Sit Minnesota Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: $8.7M
- 12-month gross sales (incl. reinvestments): $85.5M
- Sales ÷ redemptions: 1.11×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $10.6M | $5.1M | $5.5M |
| May 2026 | $9.2M | $6.4M | $2.8M |
| Apr 2026 | $7.6M | $5.6M | $1.9M |
| Mar 2026 | $9.7M | $6.7M | $3.0M |
| Feb 2026 | $5.9M | $3.1M | $2.9M |
| Jan 2026 | $7.6M | $5.5M | $2.1M |
| Dec 2025 | $7.3M | $8.5M | −$1.2M |
| Nov 2025 | $5.7M | $4.6M | $1.1M |
| Oct 2025 | $4.0M | $6.5M | −$2.5M |
| Sep 2025 | $5.5M | $8.4M | −$2.9M |
| Aug 2025 | $7.9M | $5.8M | $2.0M |
| Jul 2025 | $4.6M | $10.5M | −$5.9M |
SMTFX Assets Under Management
Net assets of Sit Minnesota Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $403.23M |
| 2026-03-31 | $383.04M |
| 2025-12-31 | $377.47M |
| 2025-09-30 | $373.95M |
| 2025-06-30 | $369.20M |
| 2025-03-31 | $388.75M |
| 2024-12-31 | $391.31M |
| 2024-09-30 | $404.38M |
| 2024-06-28 | $400.24M |
| 2024-03-28 | $405.28M |
| 2023-12-29 | $400.77M |
| 2023-09-29 | $431.31M |
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.