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Morningstar

Saratoga Municipal Bond A SMBAX

Morningstar Analyst Rating
Quantitative rating as of | See Saratoga Investment Hub
  • NAV / 1-Day Return 8.59  /  0.12 %
  • Total Assets 635,359.0
  • Adj. Expense Ratio
    2.300%
  • Expense Ratio 3.430%
  • Distribution Fee Level High
  • Share Class Type Front Load
  • Category Ultrashort Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 0.00
  • Effective Duration 0.81 years

USD | NAV as of Feb 07, 2023 | 1-Day Return as of Feb 07, 2023, 1:18 AM GMT+00:00

Morningstar’s Analysis SMBAX

Will SMBAX 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 SMBAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the SMBAX 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 SMBAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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Weakness in Saratoga Municipal Bond A's Process and People Pillar ratings limits this strategy to a Morningstar Quantitative Rating of Negative. 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.

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