Anchor Muni Minnesota

Anchor Accounts: Municipal Bond

Summary

The Anchor Muni Minnesota Account invests at least 80% of assets in Minnesota municipal debt. The portfolio manager may include long,  intermediate, and short-duration bonds. The account is structured to provide income that is free from both federal taxes and Minnesota state taxes; thus, the account is most appealing to residents of Minnesota. The primary goal is to provide current, tax-free income vs. capital appreciation.

Benchmark: S&P Municipal Bond Minnesota Index

Core Facts

Asset Class Municipal Bond
Category Muni Minnesota
Expense Ratio [1] 0.0%
Commissions [2] 0.0%
Fee [3] 0.10%
Minimum investment [4] $50,000 US
Account number A014
Account manager Galleon Wealth Management
Region North America/US/MN
Market Developed

Credit Quality

Ltd

Mod

Ext
High


Med

Low

Interest Rate Sensitivity

Portfolio composition by security (top holdings)

Top Holdings

Company NameForward Annual Div Yield
Putnam Minnesota Tax Exempt Income Fund Class A2.28%
Eaton Vance Minnesota Municipal Income Fund Class A2.19%
Franklin Minnesota Tax-Free Income Fund Class A12.68%
Columbia Minnesota Tax-Exempt Fund Class A2.72%
Nuveen Minnesota Intermediate Municipal Bond Fund Class A2.72%
Nuveen Minnesota Municipal Bond Fund Class A2.96%
Delaware Minnesota High-Yield Municipal Bond Fund Class A2.78%
Sit Minnesota Tax-Free Income Fund2.84%
Fidelity Minnesota Municipal Income Fund2.35%
Nuveen Minnesota Quality Municipal Income Fund4.09%

Overall Risk

The risk rating is based on the account’s past performance as compared to mutual funds and/or ETFs within the same category. It represents a starting point from which investors evaluate if the core makes sense for their own risk tolerance, suitability, goals and objectives. It is not a buy or sell recommendation. There are many types of risk, including interest rate, market, political, and currency. Each type of risk can affect the value of the securities in your account.

Overview       
Start Date01/01/2015
End Date12/31/2019
Initial Balance$10,000
Periodic AdjustmentNone
RebalancingRebalance quarterly
Reinvest DividendsYes
BenchmarkFidelity Minnesota Municipal Income
Portfolio Performance
MetricAnchor Muni MinnesotaFidelity Minnesota Municipal Income
Start Balance$10,000$10,000
End Balance$11,803$11,619
End Balance (inflation adjusted)$10,785$10,617
CAGR3.37%3.05%
CAGR (inflation adjusted)1.52%1.21%
Stdev3.11%2.89%
Best Year8.75%7.12%
Worst Year-0.93%0.08%
Max. Drawdown-4.63%-4.65%
Sharpe Ratio0.750.70
Sortino Ratio1.101.01
US Stock Market Correlation-0.17-0.22
Risk and Return Metrics
MetricAnchor Muni Minnesota
Fidelity Minnesota Municipal Income
Arithmetic Mean (monthly)0.28%0.25%
Arithmetic Mean (annualized)3.42%3.09%
Geometric Mean (monthly)0.28%0.25%
Geometric Mean (annualized)3.37%3.05%
Volatility (monthly)0.90%0.83%
Volatility (annualized)3.11%2.89%
Downside Deviation (monthly)0.58%0.55%
Max. Drawdown-4.63%-4.65%
US Market Correlation-0.17-0.22
Beta (*)1.031.00
Alpha (annualized)0.23%-0.00%
R Squared91.61%100.00%
Sharpe Ratio0.750.70
Sortino Ratio1.101.01
Treynor Ratio (%)2.262.00
Calmar Ratio1.432.34
Active Return0.32%N/A
Tracking Error0.90%N/A
Information Ratio0.36N/A
Skewness-1.22-1.36
Excess Kurtosis4.715.22
Historical Value-at-Risk (5%)-1.13%-1.00%
Analytical Value-at-Risk (5%)-1.18%-1.12%
Conditional Value-at-Risk (5%)-2.00%-1.90%
Upside Capture Ratio (%)107.27100.00
Downside Capture Ratio (%)102.78100.00
Safe Withdrawal Rate20.73%20.50%
Perpetual Withdrawal Rate1.50%1.19%
Positive Periods41 out of 60 (68.33%)44 out of 60 (73.33%)
Gain/Loss Ratio1.060.83
(*) Fidelity Minnesota Municipal Income is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.
Fixed Income Maturity
CategoryWeight
Under 1 Year0.08%
1 - 3 Years2.51%
3 - 5 Years2.64%
5 - 7 Years6.38%
7 - 10 Years13.71%
10 - 15 Years26.60%
15 - 20 Years21.38%
20 - 30 Years23.27%
Over 30 Years3.43%
Drawdowns
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1Sep 2016Nov 20163 monthsAug 20179 months1 year-4.63%
2Jan 2018Oct 201810 monthsFeb 20194 months1 year 2 months-2.79%
3Feb 2015Jun 20155 monthsSep 20153 months8 months-1.53%
4Sep 2017Nov 20173 monthsDec 20171 month4 months-0.91%
5Sep 2019Oct 20192 monthsDec 20192 months4 months-0.79%
6May 2016May 20161 monthJun 20161 month2 months-0.01%
Rolling Returns
YearAnchor Muni Minnesota
3-year annualized return
Anchor Muni Minnesota
5-year annualized return
Fidelity Minnesota Municipal Income 3-year annualized returnFidelity Minnesota Municipal Income 5-year annualized return
20173.09%N/A2.52%N/A
20181.57%N/A1.74%N/A
20193.98%3.37%4.07%3.05%