Ultra-Short Municipal

Strategy Overview

The Ultra-Short Term Municipal strategy is an actively managed strategy appropriate for investors seeking a hedge against rising interest rates.  The goal of the strategy is to generate higher income compared to tax-free money market funds. The strategy consists of fully discretionary, separately managed account (SMA) portfolios.  The strategy invests primarily in municipal bonds exempt from federal income taxes and for comparison purposes is measured against the Bloomberg Barclays Municipal Bond 1-Year (1-2) Municipal Index.


Average Maturity 1.18
Modified Duration 1.15

Sector Allocation

General Obligation 85.83%
Water/Sewer 5.21%
School District 2.77%

State Chart

Top State Allocation %
Texas 19.58%
Minnesota 15.03%
Indiana 9.32%
Arizona 8.27%
Kansas 6.81%

Portfolio Management Team

Tom Bernardi, CFA | 10 years of industry experience
John Tranas | +20 years of industry experience

For more information find our strategies on Envestnet or Morningstar

Data as of 06/30/2021