Stamper Capital & Investments, Inc.
Separately Managed Accounts (National Tax-Free) vs. Tax-Free Municipal Bond Indices
Annual Total Returns, Period Ended 2-29-2024
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 | 3.73% | 3.27% | 5.03% | 3.55% |
3 Years | 0.54% | 2.08% | 3.20% | 0.12% |
5 Years | 1.21% | 2.16% | 3.32% | 1.19% |
10 Years | 1.07% | 2.05% | 3.15% | 1.19% |
15 Years | 1.52% | 2.23% | 3.43% | 1.67% |
Since Inception (1/1/1995) | N/A | 3.64% | 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