At times of uncertainty, investing in bonds from state and local governments is one of the best available investment options. Along with giving decent returns, these bonds are less risky as well. Also, the income from these bonds is generally exempt from federal taxes, as well as from state taxes in the issuing state. The best way to invest in these bonds is through muni single state intermediate portfolios. These funds invest in a portfolio of such bonds, and usually in bonds from only one state. Let’s take a look at the ten top muni single state intermediate funds.
Q3 2021 hedge fund letters, conferences and more
Top Ten Muni Single State Intermediate Funds
We have referred to the last one year data (from U.S. News) to come up with the top ten muni single state intermediate funds. These are the top ten muni single state intermediate funds:
-
Wells Fargo Wisconsin Tax-Free Fund (WWTFX, 2.96%)
Allspring Wisconsin Tax-Free Fund (MUTF:WWTFX) may invest in securities of any maturity, but its dollar-weighted average effective maturity is usually between 3 and 20 years. It has given a return of over 1.30% in the last six months and over 4.10% in the last three years. WWTFX has over $170 million in total assets. The top two holdings of the fund are: WISCONSIN HSG & ECONOMIC DEV AUTH HSG REV 0.03% and APPLETON WIS REDEV AUTH REDEV REV 0.09%.
-
Dupree Kentucky Tax-Free Income SeriesFd (KYTFX, 3.17%)
Dupree Mutual Fund Kentucky Tax-Free Income Fund (MUTF:KYTFX) invests in investment grade quality municipal securities. It has given a return of over 1.70% in the last six months and over 4.80% in the last three years. KYTFX has over $1 billion in total assets. The top two holdings of the fund are: LOUISVILLE & JEFFERSON CNTY KY MET SWR DIST SWR & DRAIN SYS REV 5% and KENTUCKY ST PPTY & BLDGS COMMN REVS 5%.
-
BNY Mellon Connecticut Fund (PSCTX, 3.52%)
BNY Mellon Connecticut Fund (MUTF:PSCTX) invests a minimum of 70% of its assets that, at the time of investment, were rated investment grade. It has given a return of over 1.30% in the last six months and over 4.30% in the last three years. PSCTX has over $198 million in total assets. The top two holdings of the fund are: CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5.25% and CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5%.
-
Eaton Vance MD Municipal Income Fund (ETMDX, 3.66%)
Eaton Vance Maryland Municipal Income Fund (MUTF:ETMDX) invests at least 75% of its net assets in municipal obligations that are rated investment grade at the time of investing. It has given a return of over 1.20% in the last six months and over 4.30% in the last three years. ETMDX has over $98 million in total assets. The top two holdings of the fund are: MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5.25% and WASHINGTON SUBN SAN DIST MD 0.02%.
-
Segall Bryant & Hamill Colorado TaxFr Fd (WTCOX, 3.73%)
Segall Bryant & Hamill Colorado Tax Free Fund (MUTF:WTCOX) mainly invests in investment-grade quality municipal bonds that are rated among the top three investment-grade categories. It has given a return of over 1.50% in the last six months and over 4.80% in the last three years. WTCOX has over $560 million in total assets. The top two holdings of the fund are: COLORADO HEALTH FACS AUTH REV 0.02% and DENVER COLO CITY & CNTY DEDICATED TAX REV 5%.
-
USAA Virginia Bond Fund (USVAX, 3.75%)
USAA Virginia Bond Fund (MUTF:USVAX) doesn’t restrict its portfolio to any specific maturity, but the average portfolio maturity is usually more than 10 years. It has given a return of over 1.60% in the last six months and over 4.50% in the last three years. USVAX has over $750 million in total assets. The top two holdings of the fund are: HAMPTON RDS VA TRANSN ACCOUNTABILITY COMMN REV 5% and VIRGINIA SMALL BUSINESS FING AUTH REV 4%.
-
Brown Advisory Maryland Bond Fund (BIAMX, 3.8%)
Along with investing in bonds from Maryland, Brown Advisory Maryland Bond Fund (MUTF:BIAMX) may also invest in municipal securities issued by other states. It has given a return of over 1.30% in the last six months and over 4% in the last three years. BIAMX has over $185 million in total assets. The top three holdings of the fund are: BALTIMORE CNTY MD 5%, BALTIMORE CNTY MD 4% and PRINCE GEORGES CNTY MD 4%.
-
AB Municipal Income II Arizona Portfolio (AAZAX, 4.56%)
AB Municipal Income Fund II Arizona Portfolio (MUTF:AAZAX) invests in high-yielding and primarily investment grade municipal securities. It has given a return of over 1.8% in the last six months and over 4.3% in the last three years. AAZAX has over $120 million in total assets. The top three holdings of the fund are: MESA ARIZ EXCISE TAX REV 5%, AB Government Money Market AB and ARIZONA BRD REGENTS UNIV ARIZ SYS REV 5%.
-
AB Municipal Income II Virginia Port (AVAAX, 4.9%)
AB Municipal Income Fund II Virginia Portfolio (MUTF:AVAAX) invests in the municipal securities of Virginia that are exempt from Virginia state income taxes. It has given a return of more than 1.9% in the last six months and over 4.5% in the last three years. AVAAX has over $240 million in total assets. The top two holdings of the fund are: AB Government Money Market AB and VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG.
Colorado Bond Shares A Tax Exempt Fund (MUTF:HICOX) invests in tax-exempt bonds and other tax-exempt securities of the State of Colorado. It has given a return of more than 2.3% in the last six months and over 5.5% in the last three years. HICOX has over $1.7 billion in total assets. The top three holdings of the fund are: COLORADO EDL & CULTURAL FACS AUTH REV 4.375%, RAVENNA MET DIST COLO 5% and MEADOWS MET DIST COLO 7.999%.
