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
|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