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Trending ETFs

Counterpoint Tactical Municipal Fund

mutual fund
TMNIX
Payout Change
Pending
Price as of:
$10.71 +0.0 +0.0%
primary theme
High Yield Municipal Bond
share class
I (TMNIX) A (TMNAX) C (TMNCX)
TMNIX (Mutual Fund)

Counterpoint Tactical Municipal Fund

Payout Change
Pending
Price as of:
$10.71 +0.0 +0.0%
primary theme
High Yield Municipal Bond
share class
I (TMNIX) A (TMNAX) C (TMNCX)
TMNIX (Mutual Fund)

Counterpoint Tactical Municipal Fund

Payout Change
Pending
Price as of:
$10.71 +0.0 +0.0%
primary theme
High Yield Municipal Bond
share class
I (TMNIX) A (TMNAX) C (TMNCX)

Name

As of 12/24/2024

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

Counterpoint Tactical Municipal Fund

TMNIX | Fund

$10.71

$243 M

5.12%

$0.55

1.64%

Vitals

YTD Return

3.8%

1 yr return

4.1%

3 Yr Avg Return

2.5%

5 Yr Avg Return

3.4%

Net Assets

$243 M

Holdings in Top 10

98.9%

52 WEEK LOW AND HIGH

$10.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.64%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 12.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$100,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/24/2024

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

Counterpoint Tactical Municipal Fund

TMNIX | Fund

$10.71

$243 M

5.12%

$0.55

1.64%

TMNIX - Profile

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 2.5%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.33%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Counterpoint Tactical Municipal Fund
  • Fund Family Name
    Counterpoint Mutual Funds
  • Inception Date
    Jun 11, 2018
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Krause

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings, if any) in, or derives at least 80% of its income from, municipal bonds. Municipal bonds are securities exempt from regular federal income tax and generally issued by or on behalf of states and local governments and their agencies, authorities and other instrumentalities. The Fund may indirectly and directly invest in issuers located in U.S. territories, commonwealths, possessions or protectorates. The Fund’s adviser, Counterpoint Funds, LLC (the “Adviser”), uses a proprietary quantitative model that seeks to identify trends in the high-yield municipal bond market.

· The Fund invests in mutual funds, passively and actively managed ETFs, and closed-end funds (collectively, “Bond Funds”) that invest primarily in high-yield municipal bonds, otherwise known as “junk bonds,” when the model indicates the high-yield municipal bond market is stable or trending upwards.
· The Fund invests in Bond Funds that invest primarily in investment grade municipal bonds when the model indicates the high-yield municipal bond market is trending downwards.

By tactically allocating the Fund’s investments, the Adviser seeks to reduce the Fund’s exposure to declines in the high-yield municipal bond market, attempting to limit downside portfolio volatility. To hedge against or replicate interest rate exposure, the Fund may also invest in U.S. treasury futures.

The Fund may also invest in municipal securities directly, and may invest, without limitation, in securities, the income from which may subject you to the federal alternative minimum tax. The Fund may invest in debt securities of any credit quality or maturity. The Fund is not constrained in the range of maturities or geographical diversification it may assume from acquired fund holdings. The Fund may invest up to 100% of its assets in below investment grade securities, including bonds that hold securities that are in default.

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TMNIX - Performance

Return Ranking - Trailing

Period TMNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -4.2% 11.1% 73.63%
1 Yr 4.1% -3.8% 11.4% 71.14%
3 Yr 2.5%* -9.3% 2.5% 0.51%
5 Yr 3.4%* -5.3% 3.4% 0.51%
10 Yr N/A* -0.8% 155.1% N/A

* Annualized

Return Ranking - Calendar

Period TMNIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.2% -6.2% 7.5% 42.08%
2022 -3.5% -26.9% -3.5% 0.50%
2021 -1.4% -1.9% 5.6% 95.43%
2020 4.2% -4.0% 4.2% 0.51%
2019 4.7% -0.7% 9.1% 66.84%

Total Return Ranking - Trailing

Period TMNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -4.2% 11.1% 73.63%
1 Yr 4.1% -3.8% 11.4% 71.14%
3 Yr 2.5%* -9.3% 2.5% 0.51%
5 Yr 3.4%* -5.3% 3.4% 0.51%
10 Yr N/A* -0.8% 155.1% N/A

* Annualized

Total Return Ranking - Calendar

Period TMNIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -4.1% 10.9% 51.49%
2022 -3.1% -26.9% 4.3% 2.01%
2021 3.0% -1.9% 10.0% 86.80%
2020 6.7% -2.6% 8.2% 3.57%
2019 8.2% -0.7% 1028633.9% 60.00%

NAV & Total Return History

TMNIX - Holdings

Concentration Analysis

TMNIX Category Low Category High TMNIX % Rank
Net Assets 243 M 3.1 M 15.6 B 76.50%
Number of Holdings 20 20 3325 99.50%
Net Assets in Top 10 299 M -102 M 1.96 B 33.17%
Weighting of Top 10 98.89% 4.6% 98.9% 1.01%

Top 10 Holdings

  1. AF-H/I MUN-F3 28.68%
  2. TRP-T/F H/Y-I 24.34%
  3. V/E HI YLD MUNI 21.86%
  4. DEL-NTL HY M-I 6.03%
  5. PGIM-MUNI H/I-Z 5.74%
  6. AC-H/Y MUNI-I 5.42%
  7. NVN-H/Y MUN-I 4.90%
  8. BLKR-LI MUNI-INS 1.22%
  9. GS-H/Y MUNI-INS 0.35%
  10. PIMCO-HY MUNI-I 0.35%

Asset Allocation

Weighting Return Low Return High TMNIX % Rank
Stocks 		98.53% 0.00% 99.72% 3.47%
Cash 		1.47% -0.64% 10.86% 30.65%
Preferred Stocks 		0.00% -47.61% 0.00% 35.18%
Other 		0.00% -5.67% 5.07% 43.72%
Convertible Bonds 		0.00% 0.00% 0.00% 29.65%
Bonds 		0.00% 0.00% 146.69% 97.03%

Stock Sector Breakdown

Weighting Return Low Return High TMNIX % Rank
Utilities 		0.00% 0.00% 0.00% 30.16%
Technology 		0.00% 0.00% 0.00% 30.16%
Real Estate 		0.00% 0.00% 0.00% 30.16%
Industrials 		0.00% 0.00% 4.78% 20.63%
Healthcare 		0.00% 0.00% 0.00% 30.16%
Financial Services 		0.00% 0.00% 0.00% 30.16%
Energy 		0.00% 0.00% 0.00% 31.75%
Communication Services 		0.00% 0.00% 0.00% 30.16%
Consumer Defense 		0.00% 0.00% 0.00% 30.16%
Consumer Cyclical 		0.00% 0.00% 77.65% 30.16%
Basic Materials 		0.00% 17.58% 100.00% 33.33%

Stock Geographic Breakdown

Weighting Return Low Return High TMNIX % Rank
US 		98.53% 0.00% 99.72% 3.52%
Non US 		0.00% 0.00% 0.00% 29.65%

TMNIX - Expenses

Operational Fees

TMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.64% 0.22% 3.44% 21.78%
Management Fee 0.70% 0.00% 1.41% 92.57%
12b-1 Fee 0.00% 0.00% 1.00% 5.61%
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

TMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

TMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 2.00% 121.00% 13.90%

TMNIX - Distributions

Dividend Yield Analysis

TMNIX Category Low Category High TMNIX % Rank
Dividend Yield 5.12% 0.00% 5.94% 81.19%

Dividend Distribution Analysis

TMNIX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

TMNIX Category Low Category High TMNIX % Rank
Net Income Ratio 2.33% 1.11% 5.44% 83.66%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TMNIX - Fund Manager Analysis

Managers

Michael Krause

Start Date

Tenure

Tenure Rank

Jun 11, 2018

3.97

4.0%

Michael Krause is a co-founder of Counterpoint Mutual Funds, LLC. Prior to founding Counterpoint Mutual Funds, LLC in 2014, Mr. Krause co-founded Counterpoint Asset Management, LLC in 2012 to offer quantitative investment strategies to investment clients. Mr. Krause served as a senior financial risk analyst for San Diego Gas & Electric from 2012 until 2014. Mr. Krause is a CFA® charter holder. He obtained an MBA from the Rady School of Management at the University of California at San Diego in 2012 and a Bachelor of Arts in Economics from San Diego State University. Prior to attending San Diego State University, Mr. Krause worked as a computer and information technology consultant and co-founded Exchange Network Services, Inc., an internet service provider, which earned him the Ernst and Young Entrepreneur of the Year, Northeast Ohio regional award in 1998.

Joseph Engelberg

Start Date

Tenure

Tenure Rank

Jun 11, 2018

3.97

4.0%

Joseph Engelberg has served as Chief Research Officer of Counterpoint Mutual Funds, LLC since 2015. Dr. Engelberg has also been an Associate Professor of Finance at University California San Diego, Rady School of Management since 2011. Prior to joining Counterpoint Mutual Funds, LLC, Dr. Engelberg co-founded Counterpoint Asset Management, LLC in 2012. From 2008 to 2011, Dr. Engelberg was an Assistant Professor of Finance at the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He earned his Ph.D. in Finance from the Kellogg School of Management at Northwestern University and earned his B.A. in Mathematics and B.S. in Business Administration from the University of Southern California.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.58 2.52

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