Anchor Muni National Intermediate

Anchor Accounts: Municipal Bond

Summary

The Anchor Muni National Intermediate Account invests in bonds issued by state and local governments to fund public projects. The income from these bonds is generally free from federal taxes and/or from state taxes in the issuing state. To reduce risk, the portfolio manager spreads the accounts’ assets across many states and sectors. The account exhibits durations of 4.5 to 7.0 years (or, if duration is unavailable, average maturities of five to 12 years).

Benchmark: S&P Municipal Bond Intermediate Index

Core Facts

Asset Class Municipal Bond
Category Muni National Intermediate
Expense Ratio [1] 0.0%
Commissions [2] 0.0%
Fee [3] 0.10%
Minimum investment [4] $30,000 US
Account number A015
Account manager Galleon Wealth Management
Region North America/US
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
Xtrackers Municipal Infrastructure Revenue Bond ETF2.76%
iShares iBonds Dec 2028 Term Muni Bond ETF-
Franklin Liberty Municipal Bond ETF2.40%
VanEck Vectors CEF Municipal Income ETF3.77%
Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF-
VanEck Vectors AMT-Free Long Municipal Index ETF2.55%
VanEck Vectors AMT-Free Intermediate Municipal Index ETF2.01%
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund2.44%
iShares National Muni Bond ETF2.42%
Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares2.59%

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 Date5/1/19
End Date12/31/19
Initial Balance$10,000.00
Periodic AdjustmentNone
RebalancingRebalance quarterly
Reinvest DividendsYes
BenchmarkVanguard Interm-Term Tx-Ex Inv
Portfolio Performance
MetricAnchor Muni National IntermediateVanguard Interm-Term Tx-Ex Inv
Start Balance$10,000.00 $10,000.00
End Balance$10,485.00 $10,373.00
End Balance (inflation adjusted)$10,427.00 $10,316.00
Return4.85%3.73%
Return (inflation adjusted)4.27%3.16%
Stdev3.21%2.40%
Best Year4.85%3.73%
Worst Year4.85%3.73%
Max. Drawdown-0.89%-0.75%
Sharpe Ratio1.641.52
Sortino Ratio43.19
US Stock Market Correlation-0.61-0.62
Risk and Return Metrics
MetricAnchor Muni National IntermediateVanguard Interm-Term Tx-Ex Inv
Arithmetic Mean (monthly)0.60%0.46%
Arithmetic Mean (annualized)7.41%5.68%
Geometric Mean (monthly)0.59%0.46%
Geometric Mean (annualized)7.36%5.65%
Volatility (monthly)0.93%0.69%
Volatility (annualized)3.21%2.40%
Downside Deviation (monthly)0.31%0.27%
Max. Drawdown-0.89%-0.75%
US Market Correlation-0.61-0.62
Beta (*)1.331
Alpha (annualized)-0.18%0.00%
R Squared98.01%100.00%
Sharpe Ratio1.641.52
Sortino Ratio43.19
Treynor Ratio (%)3.923.57
Active Return1.71%N/A
Tracking Error0.91%N/A
Information Ratio1.89N/A
Skewness0.03-0.27
Excess Kurtosis-0.360.19
Historical Value-at-Risk (5%)-0.89%-0.75%
Analytical Value-at-Risk (5%)-0.83%-0.68%
Conditional Value-at-Risk (5%)N/AN/A
Upside Capture Ratio (%)128.56100
Downside Capture Ratio (%)118.1100
Safe Withdrawal RateN/AN/A
Perpetual Withdrawal RateN/AN/A
Positive Periods7 out of 8 (87.50%)7 out of 8 (87.50%)
Gain/Loss Ratio0.910.84
(*) Vanguard Interm-Term Tx-Ex Inv is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.
Asset Allocation
CategoryWeight
US Stocks0.00%
Intl Stocks0.00%
US Bonds98.47%
Intl Bonds0.59%
Other0.02%
Cash0.92%
Fixed Income Credit Quality
CategoryWeight
AAA16.38%
AA49.85%
A24.39%
BBB6.94%
Non-Investment Grade1.31%
Not Rated1.13%
Fixed Income Maturity
CategoryWeight
Under 1 Year0.86%
1 - 3 Years2.24%
3 - 5 Years2.98%
5 - 7 Years4.89%
7 - 10 Years17.41%
10 - 15 Years21.89%
15 - 20 Years16.59%
20 - 30 Years30.25%
Over 30 Years2.89%
Drawdowns
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1Sep-19Sep-191 month-0.89%