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Trending ETFs

Delaware Tax-Free Oregon Fund

mutual fund
FTOTX
Payout Change
Pending
Price as of:
$12.22 +0.03 +0.25%
primary theme
Municipal Bond
share class
Instl (FTOTX) A (FTORX)
FTOTX (Mutual Fund)

Delaware Tax-Free Oregon Fund

Payout Change
Pending
Price as of:
$12.22 +0.03 +0.25%
primary theme
Municipal Bond
share class
Instl (FTOTX) A (FTORX)
FTOTX (Mutual Fund)

Delaware Tax-Free Oregon Fund

Payout Change
Pending
Price as of:
$12.22 +0.03 +0.25%
primary theme
Municipal Bond
share class
Instl (FTOTX) A (FTORX)

Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Delaware Tax-Free Oregon Fund

FTOTX | Fund

$12.22

$47.5 M

3.58%

$0.44

0.94%

Vitals

YTD Return

2.1%

1 yr return

2.3%

3 Yr Avg Return

-2.2%

5 Yr Avg Return

-0.8%

Net Assets

$47.5 M

Holdings in Top 10

23.5%

52 WEEK LOW AND HIGH

$12.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.94%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 12.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Delaware Tax-Free Oregon Fund

FTOTX | Fund

$12.22

$47.5 M

3.58%

$0.44

0.94%

FTOTX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.65%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Delaware Tax-Free Oregon Fund
  • Fund Family Name
    First Investors
  • Inception Date
    May 01, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stephen Czepiel

Fund Description

Under normal circumstances, at least 80% of the Fund's net assets (plus any borrowings for investment purposes) will be invested in municipal securities that pay interest that is exempt from federal income tax, including the federal alternative minimum tax, and any applicable state income tax for individual residents of the state of Oregon (80% policy). However, the Fund typically attempts to invest all of its assets in securities that pay interest that is exempt from federal income tax and state income tax for individual residents of such state, but may invest up to 20% of its net assets in securities that pay interest that is subject to the federal alternative minimum tax. Such securities include obligations issued by municipalities and other authorities in Oregon and US possessions and territories. In certain cases, dividends paid by the Fund may also be exempt from local personal income taxes.

The Fund primarily invests in high quality municipal securities that are rated as, or, if unrated, are determined by the Manager to be, investment grade at the time of purchase. The Fund may invest in securities insured against default by independent insurance companies and revenue bonds. The Fund may also invest in variable and floating rate securities, as well as interest rate swaps, futures and options on futures to hedge against interest rate changes and inverse floaters to produce income.

To a lesser extent, the Fund may invest up to 20% of its net assets in high yield, below investment grade municipal bonds (commonly known as “high yield” or “junk bonds”). High yield bonds include those that are rated below Baa3 by Moody’s Investors Service, Inc. or below BBB- by Standard & Poor’s and unrated bonds that are determined by the Manager to be of equivalent quality. When making investment decisions, the Manager focuses on bonds that it believes can generate attractive and consistent income.

In selecting investments for the Fund, the Manager considers various factors, including: a security’s maturity, coupon, yield, credit quality, call protection and relative value and the outlook for interest rates and the economy. The Manager may sell a security for various reasons, including to replace it with a security that offers a higher yield or better value, respond to a deterioration in credit quality, or raise cash. The Manager generally considers any capital gains or losses that may be incurred upon the sale of an investment. In addition, the Manager considers the duration of the Fund’s portfolio when deciding whether to buy or sell a security.

The Fund will generally have a dollar-weighted average effective maturity of between 5 and 30 years.

Read More

FTOTX - Performance

Return Ranking - Trailing

Period FTOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -6.1% 36.1% 10.07%
1 Yr 2.3% -6.0% 38.2% 4.30%
3 Yr -2.2%* -11.5% 5.9% 88.73%
5 Yr -0.8%* -7.2% 1103.7% 93.20%
10 Yr 0.9%* -1.1% 248.9% 82.36%

* Annualized

Return Ranking - Calendar

Period FTOTX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -1.4% 41.0% 47.47%
2022 -12.4% -39.7% 0.3% 59.59%
2021 0.3% -5.6% 6.9% 20.69%
2020 2.2% -2.6% 310.0% 28.99%
2019 3.2% 0.0% 26.0% 74.87%

Total Return Ranking - Trailing

Period FTOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -6.1% 36.1% 10.07%
1 Yr 2.3% -6.0% 38.2% 4.30%
3 Yr -2.2%* -11.5% 5.9% 88.73%
5 Yr -0.8%* -7.2% 1103.7% 93.20%
10 Yr 0.9%* -1.1% 248.9% 82.36%

* Annualized

Total Return Ranking - Calendar

Period FTOTX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -1.3% 41.0% 67.54%
2022 -12.4% -39.7% 1.1% 87.99%
2021 0.3% -4.8% 23761504.0% 80.69%
2020 2.2% -1.5% 17057.9% 88.10%
2019 5.7% 0.2% 3514.6% 69.98%

NAV & Total Return History

FTOTX - Holdings

Concentration Analysis

FTOTX Category Low Category High FTOTX % Rank
Net Assets 47.5 M 3.22 M 71.9 B 94.22%
Number of Holdings 86 4 13418 90.53%
Net Assets in Top 10 13.3 M -317 M 3.09 B 92.88%
Weighting of Top 10 23.49% 1.8% 100.3% 26.34%

Top 10 Holdings

  1. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 4.11%
  2. Port of Portland OR Airport Revenue 2.92%
  3. Multnomah County School District No 40 2.36%
  4. State of Oregon Housing Community Services Department 2.13%
  5. Oregon Health Science University 2.04%
  6. State of Oregon 2.01%
  7. Oregon State Lottery 2.00%
  8. City of Portland OR Sewer System Revenue 1.98%
  9. State of Oregon Department of Transportation 1.98%
  10. Clackamas County School District No 35 Molalla River 1.97%

Asset Allocation

Weighting Return Low Return High FTOTX % Rank
Bonds 		98.95% 0.00% 150.86% 51.68%
Cash 		1.05% -50.86% 44.62% 48.35%
Stocks 		0.00% 0.00% 99.77% 19.06%
Preferred Stocks 		0.00% 0.00% 0.07% 6.11%
Other 		0.00% -3.69% 53.54% 19.07%
Convertible Bonds 		0.00% 0.00% 0.93% 5.33%

Bond Sector Breakdown

Weighting Return Low Return High FTOTX % Rank
Municipal 		100.00% 44.39% 100.00% 0.47%
Derivative 		0.00% -3.69% 53.54% 16.99%
Cash & Equivalents 		0.00% 0.00% 44.41% 58.90%
Securitized 		0.00% 0.00% 5.93% 7.22%
Corporate 		0.00% 0.00% 9.41% 23.47%
Government 		0.00% 0.00% 52.02% 12.61%

Bond Geographic Breakdown

Weighting Return Low Return High FTOTX % Rank
US 		98.95% 0.00% 142.23% 49.63%
Non US 		0.00% 0.00% 23.89% 9.94%

FTOTX - Expenses

Operational Fees

FTOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.94% 0.01% 8.02% 32.19%
Management Fee 0.55% 0.00% 1.20% 92.68%
12b-1 Fee N/A 0.00% 1.00% 6.33%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FTOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FTOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FTOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 283.00% 28.70%

FTOTX - Distributions

Dividend Yield Analysis

FTOTX Category Low Category High FTOTX % Rank
Dividend Yield 3.58% 0.00% 14.51% 10.87%

Dividend Distribution Analysis

FTOTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FTOTX Category Low Category High FTOTX % Rank
Net Income Ratio 2.65% -0.53% 5.33% 13.66%

Capital Gain Distribution Analysis

FTOTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

FTOTX - Fund Manager Analysis

Managers

Stephen Czepiel

Start Date

Tenure

Tenure Rank

Oct 04, 2019

2.66

2.7%

Stephen J. Czepiel Senior Vice President, Head of Municipal Bonds Portfolio Management, Senior Portfolio Manager Stephen J. Czepiel leads the portfolio management of the firm’s municipal bonds strategies, a role he assumed in February 2019. He is a co-portfolio manager of the firm’s municipal bond funds and client accounts, a role he has held since August 2007. He joined Macquarie Investment Management (MIM) in July 2004 as a senior bond trader. Previously, he was vice president at both Mesirow Financial and Loop Capital Markets. He began his career in the securities industry in 1982 as a municipal bond trader at Kidder Peabody and now has more than 20 years of experience in the municipal securities industry. Czepiel earned his bachelor’s degree in finance and economics from Duquesne University.

Gregory Gizzi

Start Date

Tenure

Tenure Rank

Oct 04, 2019

2.66

2.7%

Gregory A. Gizzi Senior Vice President, Head of Municipal Bonds, Senior Portfolio Manager Gregory A. Gizzi is head of municipal bonds in the Americas, a role he assumed in February 2019. In this role, he is responsible for the overall operation of the strategy and is team lead on several of the tax-exempt strategies. Additionally, Gizzi continues to be responsible for the taxable municipal business and the marketing efforts for the municipal product. Previously, Gizzi was co-portfolio manager of the firm’s municipal bond funds and several client accounts, a role he held since November 2011. Before joining Macquarie Investment Management (MIM) in January 2008 as head of municipal bond trading, he spent six years as a vice president at Lehman Brothers for the firm’s tax-exempt institutional sales effort. Prior to that, he spent two years trading corporate bonds for UBS before joining Lehman Brothers in a sales capacity. Gizzi has more than 20 years of trading experience in the municipal securities industry, beginning at Kidder Peabody in 1984, where he started as a municipal bond trader and worked his way up to institutional block trading desk manager. He later worked in the same capacity at Dillon Read. Gizzi earned his bachelor’s degree in economics from Harvard University.

Jake van Roden

Start Date

Tenure

Tenure Rank

Oct 04, 2019

2.66

2.7%

Delaware Management Company Senior Vice President, Head of Municipal Trading, Portfolio Manager Jake van Roden is head of Macquarie’s municipal trading team. He is also a portfolio manager for the firm’s nine open-end state-specific municipal bond funds, as well as for several municipal bond client accounts, a role he assumed in December 2017. In February 2019, his portfolio management role expanded to include the closed-end municipal bond funds and the three national municipal open-end funds.He joined the municipal department in July 2004 as a generalist and became head of municipal trading in December 2012. Before that, van Roden interned at Macquarie Investment Management (MIM), which includes the former Delaware Investments, in the client services department. He received a bachelor’s degree in American studies with a minor in government from Franklin & Marshall College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58

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