Fidelity Tops Muni-Bond Shop Rankings
Plus, a disastrous performance from one of the biggest fund companies.
Who's your pick for fund manager of the year?
It's time to wrap up my fund-company performance overview with municipal bonds. (Follow these links to see my past articles on domestic stocks, international stocks, and taxable bonds.) Right now munis are particularly attractive as they offer a huge advantage over Treasuries after factoring in taxes.
So, with that in mind, let's get to it. As before, I screened for the 10 largest municipal-bond fund managers based on retail share classes. Then we took each fund's performance ranking against its peers and asset-weighted it based on how much money it had at the beginning of the three-year period. That helps to give you a sense of how the firm did for its average shareholder.
Russel Kinnel does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.