Stamper Capital & Investments, Inc.
Separately Managed Accounts (National Tax-Free) vs. Tax-Free Municipal Bond Indices
Annual Total Returns, Period Ended 8-31-2023
| 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 | 1.70% | 2.61% | 4.01% | 1.12% |
| 3 Years | -0.18% | 1.77% | 2.72% | -0.58% |
| 5 Years | 0.91% | 2.07% | 3.18% | 1.01% |
| 10 Years | 1.00% | 1.96% | 3.02% | 1.11% |
| 15 Years | 1.38% | 2.23% | 3.42% | 1.72% |
| 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