Anchor Muni National Long

Anchor Accounts: Municipal Bond

Summary

The Anchor Muni National Long Account invests in bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. To lower risk, the portfolio manager spreads the accounts assets across many states and sectors. The account has durations of more than 7.0 years (or, if duration is unavailable, average maturities of more than 12 years). The primary goal is to produce current, tax-free income.

Benchmark: S&P Municipal Bond Long Intermediate Index

Core Facts

Asset Class Municipal Bond
Category Muni National Long
Expense Ratio [1] 0.0%
Commissions [2] 0.0%
Fee [3] 0.10%
Minimum investment [4] $250,000 US
Account number A016
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
Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF-
iShares National Muni Bond ETF2.42%
SPDR Nuveen Bloomberg Barclays Municipal Bond ETF2.14%
T. Rowe Price Tax-Free Income Fund3.28%
Lord Abbett National Tax Free Fund Class A3.06%
Nuveen All-American Municipal Bond Fund Class A3.38%
Fidelity Tax-Free Bond Fund2.83%
Eaton Vance National Municipal Income Fund Class A3.10%
Vanguard Long-Term Tax-Exempt Fund3.12%
Vanguard High-Yield Tax-Exempt Fund3.35%

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 Date1/1/09
End Date12/31/19
Initial Balance$10,000.00
Periodic AdjustmentNone
RebalancingRebalance quarterly
Reinvest DividendsYes
BenchmarkVanguard Long-Term Tax-Exempt
Portfolio Performance
MetricAnchor Muni National LongVanguard Long-Term Tax-Exempt
Start Balance$10,000.00 $10,000.00
End Balance$18,937.00 $18,200.00
End Balance (inflation adjusted)$15,492.00 $14,889.00
CAGR5.98%5.59%
CAGR (inflation adjusted)4.06%3.68%
Stdev4.74%4.23%
Best Year18.60%14.08%
Worst Year-4.52%-2.95%
Max. Drawdown-9.10%-7.21%
Sharpe Ratio1.141.18
Sortino Ratio1.982.04
US Stock Market Correlation-0.1-0.11
Risk and Return Metrics
MetricAnchor Muni National LongVanguard Long-Term Tax-Exempt
Arithmetic Mean (monthly)0.49%0.46%
Arithmetic Mean (annualized)6.09%5.69%
Geometric Mean (monthly)0.48%0.45%
Geometric Mean (annualized)5.98%5.59%
Volatility (monthly)1.37%1.22%
Volatility (annualized)4.74%4.23%
Downside Deviation (monthly)0.78%0.70%
Max. Drawdown-9.10%-7.21%
US Market Correlation-0.1-0.11
Beta (*)1.111
Alpha (annualized)-0.22%0.00%
R Squared98.14%100.00%
Sharpe Ratio1.141.18
Sortino Ratio1.982.04
Treynor Ratio (%)4.875.02
Calmar Ratio2.892.82
Active Return0.38%N/A
Tracking Error0.80%N/A
Information Ratio0.48N/A
Skewness-0.23-0.41
Excess Kurtosis2.392.26
Historical Value-at-Risk (5%)-1.84%-1.49%
Analytical Value-at-Risk (5%)-1.75%-1.55%
Conditional Value-at-Risk (5%)-3.06%-2.68%
Upside Capture Ratio (%)108.57100
Downside Capture Ratio (%)110.63100
Safe Withdrawal Rate12.22%11.70%
Perpetual Withdrawal Rate3.90%3.56%
Positive Periods94 out of 132 (71.21%)91 out of 132 (68.94%)
Gain/Loss Ratio1.081.24
(*) Vanguard Long-Term Tax-Exempt 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 Bonds98.15%
Intl Bonds0.66%
Other0.92%
Cash0.27%
Fixed Income Credit Quality
CategoryWeight
AAA12.51%
AA41.54%
A26.96%
BBB11.17%
Non-Investment Grade2.98%
Not Rated4.84%
Fixed Income Maturity
CategoryWeight
Under 1 Year0.72%
1 - 3 Years2.19%
3 - 5 Years3.30%
5 - 7 Years4.27%
7 - 10 Years8.02%
10 - 15 Years18.98%
15 - 20 Years19.11%
20 - 30 Years37.83%
Over 30 Years5.59%
Drawdowns (worst 10)
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1Dec-12Aug-139 monthsMay-149 months1 year 6 months-9.10%
2Oct-10Jan-114 monthsAug-117 months11 months-6.91%
3Sep-16Nov-163 monthsAug-179 months1 year-5.62%
4Oct-09Oct-091 monthFeb-104 months5 months-2.72%
5Feb-15Jun-155 monthsOct-154 months9 months-2.13%
6Jan-18Feb-182 monthsAug-186 months8 months-1.75%
7Sep-18Oct-182 monthsDec-182 months4 months-1.49%
8Jun-09Jun-091 monthJul-091 month2 months-0.94%
9Sep-19Sep-191 month-0.79%
10Mar-12Mar-121 monthApr-121 month2 months-0.60%
Rolling Returns
YearAnchor Muni National Long 3-year annualized returnAnchor Muni National Long 5-year annualized returnAnchor Muni National Long 7-year annualized returnAnchor Muni National Long 10-year annualized returnVanguard Long-Term Tax-Exempt 3-year annualized returnVanguard Long-Term Tax-Exempt 5-year annualized returnVanguard Long-Term Tax-Exempt 7-year annualized return
201110.31%N/AN/AN/A8.63%N/AN/A
20127.36%N/AN/AN/A6.69%N/AN/A
20135.32%6.98%N/AN/A5.10%6.10%N/A
20145.32%5.75%N/AN/A5.22%5.53%N/A
20153.45%6.26%7.18%N/A3.87%6.04%6.48%
20165.23%4.00%4.67%N/A5.13%4.04%4.59%
20173.43%3.41%5.42%N/A3.65%3.72%5.30%
20182.49%4.54%3.85%5.75%2.62%4.53%3.92%
20195.06%3.84%3.71%4.79%5.23%4.04%3.98%