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AVMUX

Avantis Core Municipal Fixed Income Fund

NAV
$9.54
as of 02/01/2023
1 Day NAV Change
Direction arrow up $0.01 (0.10%)
as of 02/01/2023
YTD NAV
Total Return
2.68
as of 01/31/2023
Gross Expense Ratio
0.15%
as of 01/01/2023
Net Expense Ratio
0.15%
as of 01/01/2023

Performance data represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value fluctuate. Redemption may be worth more or less than the original cost. Returns less than one year are not annualized.

    Why AVMUX?

    • Invests in a broad set of investment grade municipal debt obligations.

    • Pursues the benefits associated with indexing (diversification, controlled turnover, transparency of exposures), but with the ability to add value by making investment decisions using information in current yields.

    • Efficient portfolio management and trading process that is designed to enhance returns while seeking to reduce unnecessary risks and transaction costs.

    • Built to fit seamlessly into an investor's asset allocation.

    Fund Facts

    Ticker
    AVMUX
    Objective
    Seeks current income that is exempt from federal income tax.
    Inception Date
    02/24/2021
    # of Holdings
    222
    as of 12/31/2022
    Share Class
    Institutional Class
    Total Assets
    $7,668,506.72
    as of 02/01/2023
    Distribution Frequency
    Monthly

    Performance

    To view month-end or historical performance, use the drop-down below.

    As of:
        01/31/2023

    TOTAL RETURN

    CUMULATIVE
    AVERAGE ANNUAL
    Info icon
    YTD% 1 MO 3 MO 1 YR 3 YR 5 YR 10 YR LIFE
    AVMUX
    2.68%2.68%7.28%-1.76%- -- -- --1.45%
    2.87%2.87%7.60%-2.97%-0.31%2.02%2.22%- -
    Performance data represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value fluctuate. Redemption may be worth more or less than the original cost. Returns less than one year are not annualized. Index performance does not represent the fund's performance. It is not possible to invest directly in an index.

    Yields

    Info icon
    30-Day sec
    Subsidized Yield
    2.83%
    as of 12/30/2022
    Yield to Worst
    --
    as of 12/31/2022
    Yield to Maturity
    --
    as of 12/31/2022

    Fees

    Gross Expense Ratio
    Info icon
    0.15%
    Net Expense Ratio
    Info icon
    0.15%

    Portfolio

    Due to rounding, these values may not add to 100% 12/31/2022

    Info icon
    Special Tax 28%
    State GO 17%
    Local GO 14%
    Public Power 9%
    Water & Sewer 7%
    Airport 6%
    Toll Facilities 5%
    University Public 4%
    Lease Revenue 4%
    Other Transportation 2%
    University Private 2%
    Pre-Refunded 1%
    Seaport <1%
    Hospital <1%
    Cash & Cash Equivalents <1%

    Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.

    Top 20 Holdings

    Info icon

    As of 12/31/2022

    Company Sort Fund Name Ascending
    Weight Sort Fund Name Ascending
    State of California 3.00% 10/01/2035 1.81%
    State of Wisconsin 5.00% 05/01/2027 1.62%
    Massachusetts Bay Transportation Authority Sales Tax Revenue 5.00% 07/01/2028 1.47%
    Washington Metropolitan Area Transit Authority Dedicated Revenue 4.00% 07/15/2040 1.44%
    Indiana Finance Authority 5.00% 06/01/2028 1.36%
    Virginia College Building Authority 5.00% 02/01/2030 1.34%
    Hudson Yards Infrastructure Corp 5.00% 02/15/2037 1.34%
    Alabama Public School and College Authority 5.00% 11/01/2037 1.34%
    City of Los Angeles Department of Airports 5.00% 05/15/2038 1.24%
    Metropolitan Water Reclamation District of Greater Chicago 5.00% 12/01/2029 1.22%
    Dallas County Utility & Reclamation District 5.00% 02/15/2028 1.10%
    City & County of Honolulu HI 5.00% 03/01/2028 1.06%
    Texas State University System 5.00% 03/15/2031 1.02%
    State of Mississippi 5.00% 10/01/2027 0.98%
    Metropolitan Government of Nashville & Davidson County TN 4.00% 07/01/2028 0.94%
    State of Nevada Highway Improvement Revenue 5.00% 12/01/2028 0.89%
    State of Georgia 5.00% 07/01/2028 0.87%
    City & County of Honolulu HI 5.00% 09/01/2029 0.87%
    State of California 4.00% 09/01/2033 0.86%
    Salt River Project Agricultural Improvement & Power District 5.00% 01/01/2030 0.86%

    Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.

    Municipal Securities investing is more sensitive to events that affect municipal markets, including legislative or political changes and the financial condition of the issuers of municipal securities. The fund may have a higher level of risk than funds that invest in a larger universe of securities. Additionally, the novel coronavirus (COVID-19) pandemic has significantly stressed the financial resources of many municipal issuers, which may impair a municipal issuer's ability to meet its financial obligations when due and could adversely impact the value of its bonds, which could negatively impact the performance of the fund.

    International investing involves special risks, such as political instability and currency fluctuations. Investing in emerging markets may accentuate these risks.

    Derivatives may be more sensitive to changes in market conditions and may amplify risks.

    Investment income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax (AMT). Capital gains are not exempt from state and federal income tax.

    For detailed descriptions of indices or investing terms referenced above, refer to our glossary.

    ©2022 Standard & Poor's Financial Services LLC. All rights reserved. For intended recipient only. No further distribution and/or reproduction permitted. Standard & Poor's Financial Services LLC ("S&P") does not guarantee the accuracy, adequacy, completeness or availability of any data or information contained herein and is not responsible for any errors or omissions or for the results obtained from the use of such data or information. S&P GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE IN CONNECTION TO THE DATA OR INFORMATION INCLUDED HEREIN. In no event shall S&P be liable for any direct, indirect, special or consequential damages in connection with recipient's use of such data or information.

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    You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus or summary prospectus, which can be obtained by visiting Avantisinvestors.com or by calling 833-928-2684, contains this and other information about the fund, and should be read carefully before investing. Investments are subject to market risk.

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