Stamper Capital & Investments, Inc.
Separately Managed Accounts (National Tax-Free) vs. Tax-Free Municipal Bond Indices
Annual Total Returns, Period Ended 3-31-2024
| 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 | 2.66% | 3.06% | 4.70% | 1.74% |
| 3 Years | 0.47% | 2.14% | 3.30% | -0.05% |
| 5 Years | 1.13% | 2.15% | 3.31% | 1.06% |
| 10 Years | 1.10% | 2.06% | 3.17% | 1.20% |
| 15 Years | 1.50% | 2.23% | 3.43% | 1.61% |
| Since Inception (1/1/1995) | N/A | 3.64% | 5.60% | 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