Investment objective & strategy
As of April 30, 2025 · prospectusObjective. A high level of federally tax-free income over the long term consistent with preservation of capital.
Strategy. Under normal market conditions, the fund will invest at least 80% of its net assets, plus any amount for borrowing, in investment grade municipal securities, the income from which is exempt from regular federal income tax. The Adviser primarily invests in Ohio municipal securities that provide income that is exempt from both Ohio and regular federal income tax. The fund may concentrate its investments in a particular segment of the bond market. The fund does not limit itself to securities of a particular maturity range, however, a majority of its assets will typically be invested in intermediate to long-term maturities (3 years or longer). Under normal market conditions, the fund will invest at least 80% of its net assets, plus any amount for borrowing, in investment grade municipal securities, the income from which is exempt from regular federal income tax. The Adviser primarily invests in Ohio municipal securities that provide income that is exempt from both Ohio and regular federal income tax. The fund may concentrate its investments in a particular segment of the bond market. The fund does not limit itself to securities of a particular maturity range, however, a majority of its assets will typically be invested in intermediate to long-term maturities (3 years or longer).
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| OHIO ST HIGHER EDL FAC COMMN 5%, DUE 11/01/2053 | — | $5.06M | 2.69% |
| OH WTR DEV AUTH | — | $4.37M | 2.33% |
| PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE | — | $3.89M | 2.07% |
| MOBILE PCR-VAR-AL PWR | — | $3.58M | 1.90% |
| OHIO ST GEN OBLIG HWY CAP IMPTS 5%, DUE 05/01/2032 | — | $3.36M | 1.79% |
| KINGS LOC SCH DIST OHIO GO UNLTD TAX IMPT 5.25%, DUE 12/01/2054 | — | $3.20M | 1.70% |
| FREDDIE MAC MULTIFAMILY VRD CERTIFICATES 2.55%, Due 06/15/2035 | — | $3.14M | 1.67% |
| Black Belt Energy Gas District, Series D-1 | BBEUTL | $2.94M | 1.57% |
| OH HAMMED 5 11/15/2041 | HAMMED | $2.69M | 1.43% |
| S E ENERGY-B-REV | ESDPWR | $2.68M | 1.43% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| STERLING CAPITAL NATIONAL MUNICIPAL BOND ETF | 4% | 0.35% |
| Nuveen Ohio Municipal Bond Fund · FOHTX, NXOHX, FAFMX | 4% | 0.58% |
| Eaton Vance Municipal Income 2028 Term Trust | 4% | — |
Advisers
| Firm | Role |
|---|---|
| Johnson Investment Counsel, Inc. | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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