Short-Intermediate Duration Municipal Trust

ticker F S H I XMutual FundsMuni National

Overview

 
AT A GLANCE
Portfolio
Assets
March 31 2019
$739.1 M
YTD Return NAV
April 22 2019
1.19%
Fixed Income
Overall
Morningstar Rating ™
March 31 2019
4 out of 5 stars"
Gross
Expenses [†]
0.81%
Net
Expenses [†]
0.46%
STRATEGY

Seeks dividend income that is exempt from federal regular income tax by investing its assets so that, normally, distributions of annual interest income are exempt from federal regular income tax.

KEY FACTS
Key Facts - Part 1
Symbol ticker F S H I X
Benchmark 1 S&P Municipal Bond Short Intermediate Index
Benchmark 2 S&P 1-5 Year National AMT-Free Municipal Bond Index
Key Facts - Part 2
Fund Number(s)
24
CUSIP 3 1 3 9 0 7 1 0 7
Performance Incp. Date August 20 1981
MORNINGSTAR CATEGORY & STYLE
Category
Municipal National Short
Style
Medium Limited
INVESTMENT GOALS Income
Tax Aware
MANAGERS
Jeff Kozemchak, CFA
Senior Vice President
Senior Portfolio Manager

joined Federated
33 years of experience
Mary Jo Ochson, CFA
Senior Vice President
Chief Investment Officer
Head of the Tax-Free Liquidity Investment Area and Short-Term Municipal Bonds
Senior Portfolio Manager

joined Federated
37 years of experience

Performance

 

Characteristics

 

Commentary

 

Documents

 

Distributions and Taxes

 
DISCLOSURES

† The funds expense ratio is from the most recent prospectus. The expense ratio may reflect contractual and/or voluntary fee waivers and/or expense reimbursements determined by the funds Advisor and/or its affiliates. Shareholders must approve any changes to a contractual required waiver/reimbursement. Additionally, the voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 09/01/2019 or the date of the funds next effective prospectus.

Total returns for periods of less than one year are cumulative.

Total return may have been lower in the absence of temporary expense waivers or reimbursements.

Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.

High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks and may be more volatile than investment-grade securities.

Interest income from the fund's investments may be subject to the federal Alternative Minimum Tax (AMT) for individuals. Dividends may be subject to state and local taxes.

As of October 31, 2007, the fund gained the ability to invest at least a majority of its assets in securities rated investment-grade (or unrated securities of comparable quality), and may purchase securities rated below investment-grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. The fund does not have a specific minimum quality rating.

After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates, but do not reflect the effect of any applicable state and local taxes. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA, 401(k) plans. The after-tax average annual total returns are based on the 37% tax bracket and include the 3.8% tax on net investment income.

Mutual funds are subject to risks and fluctuate in value.

Product classifications noted at the top are Federated's internal classifications.

The ratings agencies that provided the quality breakdown ratings are Standard and Poor's, Moody's and Fitch. When ratings vary, the highest rating is used. Credit ratings of A or better are considered to be high credit quality; credit ratings of BBB are good credit quality, and the lowest category of investment grade; credit ratings BB and below are lower-rated securities ("junk bonds"); and credit ratings of CCC or below have high default risk. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.

The holdings percentages are based on net assets at the close of business on the date above, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change.

Current and future portfolio holdings are subject to risk.

Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

3426455596