DWS Massachusetts Tax Free S (SCMAX)

Fund Assets	174.51M
Expense Ratio	0.64%
Min. Investment	$2,500
Turnover	38.00%
Dividend (ttm)	0.43
Dividend Yield	3.28%
Dividend Growth	8.18%
Payout Frequency	Monthly
Ex-Dividend Date	Jul 27, 2026

Previous Close	12.99
YTD Return	0.85%
1-Year Return	4.97%
5-Year Return	-1.61%
52-Week Low	12.73
52-Week High	13.31
Beta (5Y)	0.04
Holdings	117
Inception Date	May 28, 1987

About SCMAX

DWS Massachusetts Tax-Free Fund - Class S is a municipal bond mutual fund designed to provide investors with income that is exempt from both Massachusetts personal and federal income taxes. The fund primarily invests at least 80% of its assets in investment-grade municipal securities issued by governmental entities within Massachusetts, which may include debt supporting infrastructure, transportation, education, and public utilities. It may allocate up to 20% of assets to securities whose income could be subject to the federal alternative minimum tax. Managed by experienced fixed income professionals, the fund seeks to offer a stable stream of tax-advantaged income while maintaining a moderate credit quality and interest rate sensitivity. With over 100 individual holdings and a diversified portfolio, it serves investors who prioritize tax-efficient income and are residents of Massachusetts or subject to its state tax regime. The fund typically distributes dividends monthly, targeting individuals, trusts, and institutions seeking regular, tax-free income from a portfolio focused on local municipal issuers. Investors must meet a minimum investment threshold and pay an expense ratio for the active management and oversight provided by DWS Investment Management Americas, Inc.

• Fund Family: DWS
• Category: Muni Massachusetts
• Performance Rating: Above Average
• Risk Rating: Average
• Stock Exchange: NASDAQ
• Ticker Symbol: SCMAX
• Share Class: Class S
• Index: Bloomberg Municipal Bond TR

Performance

SCMAX had a total return of 4.97% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.62%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FDMMX	Fidelity	Fidelity Massachusetts Municipal Income Fund	0.44%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
DMAIX	Institutional Class	0.64%
SQMAX	Class A	0.89%
SQMCX	Class C	1.64%

Dividend History

Ex-Dividend	Amount	Pay Date
Jul 27, 2026	$0.03861	Jul 27, 2026
Jun 24, 2026	$0.03586	Jun 24, 2026
May 22, 2026	$0.03357	May 22, 2026
Apr 24, 2026	$0.03797	Apr 24, 2026
Mar 25, 2026	$0.03496	Mar 25, 2026
Feb 23, 2026	$0.03476	Feb 23, 2026

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 28, 2026

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