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Morningstar

Sierra Tactical Municipal Institutional STMEX

Morningstar Medalist Rating
Medalist Rating as of | See Sierra Mutual Funds Investment Hub
  • NAV / 1-Day Return 25.64  /  +0.16 %
  • Total Assets 287.0 Mil
  • Adj. Expense Ratio
    1.480%
  • Expense Ratio 1.480%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 10,000
  • Status Open
  • TTM Yield 2.56%
  • Effective Duration 7.79 years

USD | NAV as of May 15, 2024 | 1-Day Return as of May 15, 2024, 12:08 AM GMT+0

Morningstar’s Analysis STMEX

Will STMEX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable STMEX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the STMEX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of STMEX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Sierra Tactical Municipal Institutional's Process and People Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

by Morningstar Manager Research
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Portfolio Holdings STMEX

More STMEX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 84.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

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—

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—

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—

Russell Inv Tax-Exempt High Yield Bd S

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—

VanEck High Yield Muni ETF

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—

iShares National Muni Bond ETF

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—

Vanguard Tax-Exempt Bond ETF

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—