Stamper Capital & Investments, Inc.
Separately Managed Accounts (National Tax-Free) vs. Tax-Free Municipal Bond Indices
Annual Total Returns, Period Ended 2-28-2023
| 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 | -1.18% | 1.69% | 2.60% | -1.75% |
| 3 Years | -0.35% | 1.78% | 2.74% | -0.43% |
| 5 Years | 0.83% | 2.04% | 3.14% | 0.97% |
| 10 Years | 0.75% | 1.88% | 2.89% | 0.99% |
| 15 Years | 1.46% | 2.24% | 3.44% | 1.66% |
| Since Inception (1/1/1995) | N/A | 3.66% | 5.63% | 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.
Please see the Disclaimer and Footnotes at the bottom of the page for more information.
* at 35% Federal tax rate