About MSTPX
Morningstar Municipal Bond Fund Institutional Class is an actively managed municipal bond mutual fund focused on generating income that is exempt from U.S. federal income taxes while emphasizing capital preservation. The portfolio invests primarily in investment-grade municipal securities across states and revenue sectors, maintaining a national, intermediate profile. Notable portfolio exposures include transportation, utilities, healthcare, housing, and pollution control revenue bonds, reflecting a diversified approach to essential public finance issuers. The fund’s characteristics align with a medium credit quality and moderate interest-rate sensitivity posture, as indicated by its intermediate effective duration, and it distributes tax-exempt income to shareholders. As an institutional share class, it features a professional, research-driven process with a stated policy to keep at least 80% of net assets in municipal obligations. The strategy’s role in the market is to provide tax-advantaged income and a ballast within fixed-income allocations, offering diversification benefits relative to taxable bonds while participating in the broad municipal market at the national level.
Fund Family Morningstar
Category Muni National Interm
Performance Rating Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol MSTPX
Share Class Institutional
MSTPX had a total return of 3.35% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.38%.
