Stamper Capital & Investments, Inc.
Separately Managed Accounts (National Tax-Free) vs. Tax-Free Municipal Bond Indices
Annual Total Returns, Period Ended 11-30-2024
| PERIOD | Morningstar Muni Short Category Average | SCI Separately Managed Tax-Fee Municipal Accounts Composite Net of Fees | SCI Separately Managed Accounts Net Pre-Tax Equivalent* | Bloomberg Barclay's 3 Year Tax-Free Muni Bond Index |
|---|---|---|---|---|
| 1 Year | 3.92% | 3.71% | 5.71% | 3.38% |
| 3 Years | 1.24% | 2.68% | 4.12% | 0.79% |
| 5 Years | 1.31% | 2.31% | 3.55% | 1.18% |
| 10 Years | 1.28% | 2.22% | 3.42% | 1.38% |
| 15 Years | 1.43% | 2.21% | 3.40% | 1.58% |
| Since Inception (1/1/1995) | N/A | 3.65% | 5.61% | N/A |
Note: Indices do not have fees (trading costs, custody fees, management fees, etc.) deducted from their returns. We now have a much more reasonable index to compare to - the Bloomberg Barclay's 3 Year Tax-Free Municipal Index. We still aim for similar or better returns with less risk - The key with this table is that our longer term pre-tax municipal bond returns are noticeably higher than the bond market index but with What We Think is less risk - we will see when rates start to rise and/or credit quality yield spreads widen.
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* at 35% Federal tax rate