Schwab Tax-Free Bond Fund
Summary
Objective
The fund seeks high current income that is exempt from federal income tax, consistent with capital preservation.
Highlights
- Actively managed fund that primarily invests in investment-grade municipal securities, with at least 80% of its net assets invested in municipal securities with interest income exempt from federal income tax, including AMT
- Experienced portfolio managers, benefiting from extensive credit research, actively seek to maximize current income within the limits of the fund’s credit and average maturity standards by applying proprietary investment techniques and risk analyses in making investment decisions for the fund
- No investment minimums and no loads
Fund Details
Fund Profile
| Fund Inception | 09/11/1992 | |
|---|---|---|
| Total Net Assets As of 01/20/2021 |
01/20/2021 | $803,930,969.72 |
| Index Name | Bloomberg Barclays Municipal 3-15 Year Blend Index | |
| Shares Outstanding As of 01/20/2021 |
01/20/2021 | 65,875,931 |
| NAV As of 01/20/2021 |
01/20/2021 | $12.20 |
| Total Holdings As of 12/31/2020 |
12/31/2020 | 528 |
| Portfolio Turnover Rate As of 12/31/2020 |
12/31/2020 | 105.20% |
| Morningstar Category | Muni National Interm | |
| Management Style | Active |
Yields
| SEC Yield (30 Day) As of 01/19/2021 |
01/19/2021 | 0.72% |
|---|---|---|
| Distribution Yield (TTM) As of 12/31/2020 |
12/31/2020 | 1.96% |
| Average Yield to Maturity As of 09/30/2020 |
09/30/2020 | 2.04% |
For additional information about the indices and terms shown, please visit www.schwabfunds.com/glossary
Fees & Minimum
| Gross Expense Ratio † | 0.550% | |
|---|---|---|
| Net Expense Ratio † | 0.490% | |
| Minimum Initial Investment | No Minimum | |
| 12b-1 Fee | 0.000% |
Fund Characteristics
| Weighted Average Maturity As of 09/30/2020 |
09/30/2020 | 5.7 years |
|---|---|---|
| Weighted Average Coupon As of 09/30/2020 |
09/30/2020 | 3.97% |
| Effective Duration As of 09/30/2020 |
09/30/2020 | 5.5 years |
| Standard Deviation (3 Yr) As of 11/30/2020 |
11/30/2020 | 3.80% |
Performance
Total Return
Monthly
-
SWNTX
Cumulative Returns (%)
- 1 Month
- +0.76
- 3 Month
- +1.90
- YTD
- +4.61
Annualized Returns (%)
- 1 Year
- +4.61
- 3 Year
- +3.98
- 5 Year
- +3.18
- 10 Year
- +3.86
- Inception
- +4.80
-
Bloomberg Barclays Municipal 3-15 Year Blend Index (Index)
Cumulative Returns (%)
- 1 Month
- +0.53
- 3 Month
- +1.47
- YTD
- +5.18
Annualized Returns (%)
- 1 Year
- +5.18
- 3 Year
- +4.52
- 5 Year
- +3.65
- 10 Year
- +4.19
-
S&P National AMT-Free Municipal Bond Index (Index)
Cumulative Returns (%)
- 1 Month
- +0.62
- 3 Month
- +1.86
- YTD
- +4.95
Annualized Returns (%)
- 1 Year
- +4.95
- 3 Year
- +4.43
- 5 Year
- +3.73
- 10 Year
- +4.46
-
Muni National Interm (Morningstar Category)
Cumulative Returns (%)
- 1 Month
- +0.73
- 3 Month
- +1.92
- YTD
- +4.51
Annualized Returns (%)
- 1 Year
- +4.51
- 3 Year
- +3.99
- 5 Year
- +3.23
- 10 Year
- +3.89
| Description | Cumulative Returns (%) | Annualized Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Month | 3 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SWNTX | +0.76 | +1.90 | +4.61 | +4.61 | +3.98 | +3.18 | +3.86 | +4.80 | |
| Bloomberg Barclays Municipal 3-15 Year Blend Index (Index) | +0.53 | +1.47 | +5.18 | +5.18 | +4.52 | +3.65 | +4.19 | ||
| S&P National AMT-Free Municipal Bond Index (Index) | +0.62 | +1.86 | +4.95 | +4.95 | +4.43 | +3.73 | +4.46 | ||
| Muni National Interm (Morningstar Category) | +0.73 | +1.92 | +4.51 | +4.51 | +3.99 | +3.23 | +3.89 | ||
Annualized returns for periods 1 yr+/cumulative returns for periods less than 1 yr.
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
Quarterly
-
SWNTX
Average Annual Returns (%)
- 1 Year
- +4.61
- 3 Year
- +3.98
- 5 Year
- +3.18
- 10 Year
- +3.86
- Inception
- +4.80
-
Bloomberg Barclays Municipal 3-15 Year Blend Index (Index)
Average Annual Returns (%)
- 1 Year
- +5.18
- 3 Year
- +4.52
- 5 Year
- +3.65
- 10 Year
- +4.19
-
S&P National AMT-Free Municipal Bond Index (Index)
Average Annual Returns (%)
- 1 Year
- +4.95
- 3 Year
- +4.43
- 5 Year
- +3.73
- 10 Year
- +4.46
-
Muni National Interm (Morningstar Category)
Average Annual Returns (%)
- 1 Year
- +4.51
- 3 Year
- +3.99
- 5 Year
- +3.23
- 10 Year
- +3.89
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SWNTX | +4.61 | +3.98 | +3.18 | +3.86 | +4.80 | |
| Bloomberg Barclays Municipal 3-15 Year Blend Index (Index) | +5.18 | +4.52 | +3.65 | +4.19 | ||
| S&P National AMT-Free Municipal Bond Index (Index) | +4.95 | +4.43 | +3.73 | +4.46 | ||
| Muni National Interm (Morningstar Category) | +4.51 | +3.99 | +3.23 | +3.89 | ||
Annualized returns for periods 1 yr+/cumulative returns for periods less than 1 yr.
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
After Tax Returns
Pre-Liquidation
SWNTX NAV Return
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +4.48
- 3 Year
- +3.91
- 5 Year
- +3.08
- 10 Year
- +3.70
- Inception
- +4.70
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +3.65
- 3 Year
- +3.57
- 5 Year
- +2.94
- 10 Year
- +3.51
- Inception
- +4.59
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.13
- 3 Year
- +0.07
- 5 Year
- +0.10
- 10 Year
- +0.15
- Inception
- +0.10
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +4.48 | +3.91 | +3.08 | +3.70 | +4.70 | |
| SEC Post-Liquidation | +3.65 | +3.57 | +2.94 | +3.51 | +4.59 | |
| Tax Cost Ratio | +0.13 | +0.07 | +0.10 | +0.15 | +0.10 | |
After tax returns are based on highest Federal income tax bracket. State taxes are not included. Pre-liquidation figures include taxes on fund's distributions of dividends and capital gains. Tax Cost Ratio represents the percentage-point reduction in returns that results from Federal income taxes (before shares in the fund are sold, and assuming the highest Federal tax bracket).
Muni National Interm NAV Returns (Morningstar Category)
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +3.81
- 3 Year
- +3.74
- 5 Year
- +3.04
- 10 Year
- +3.74
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +3.20
- 3 Year
- +3.45
- 5 Year
- +2.90
- 10 Year
- +3.56
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.09
- 3 Year
- +0.07
- 5 Year
- +0.06
- 10 Year
- +0.07
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +3.81 | +3.74 | +3.04 | +3.74 | ||
| SEC Post-Liquidation | +3.20 | +3.45 | +2.90 | +3.56 | ||
| Tax Cost Ratio | +0.09 | +0.07 | +0.06 | +0.07 | ||
Post-Liquidation
SWNTX NAV Return
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +4.48
- 3 Year
- +3.91
- 5 Year
- +3.08
- 10 Year
- +3.70
- Inception
- +4.70
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +3.65
- 3 Year
- +3.57
- 5 Year
- +2.94
- 10 Year
- +3.51
- Inception
- +4.59
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.13
- 3 Year
- +0.07
- 5 Year
- +0.10
- 10 Year
- +0.15
- Inception
- +0.10
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +4.48 | +3.91 | +3.08 | +3.70 | +4.70 | |
| SEC Post-Liquidation | +3.65 | +3.57 | +2.94 | +3.51 | +4.59 | |
| Tax Cost Ratio | +0.13 | +0.07 | +0.10 | +0.15 | +0.10 | |
After tax returns are based on highest Federal income tax bracket. State taxes are not included. Pre-liquidation figures include taxes on fund's distributions of dividends and capital gains. Tax Cost Ratio represents the percentage-point reduction in returns that results from Federal income taxes (before shares in the fund are sold, and assuming the highest Federal tax bracket).
Muni National Interm NAV Returns (Morningstar Category)
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +3.81
- 3 Year
- +3.74
- 5 Year
- +3.04
- 10 Year
- +3.74
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +3.20
- 3 Year
- +3.45
- 5 Year
- +2.90
- 10 Year
- +3.56
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.09
- 3 Year
- +0.07
- 5 Year
- +0.06
- 10 Year
- +0.07
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +3.81 | +3.74 | +3.04 | +3.74 | ||
| SEC Post-Liquidation | +3.20 | +3.45 | +2.90 | +3.56 | ||
| Tax Cost Ratio | +0.09 | +0.07 | +0.06 | +0.07 | ||
Rank within Category
Morningstar Category - Muni National Interm
-
TOP 25%
- 2021 YTD
Yearly Performance
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- +6.54
- 2013
- 2012
-
- 2021 YTD
- +4.62
Yearly Performance
- 2020
- 2019
- 2018
- 2017
- 2016
- -0.36
- 2015
- 2014
- 2013
- -1.32
- 2012
- +5.54
-
- 2021 YTD
Yearly Performance
- 2020
- +4.62
- 2019
- +6.55
- 2018
- +0.86
- 2017
- +4.40
- 2016
- 2015
- +2.66
- 2014
- 2013
- 2012
-
BOTTOM 25%
- 2021 YTD
Yearly Performance
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
| Rank | 2021 YTD | Yearly Performance | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||
| TOP 25% | +6.54 | ||||||||||
| +4.62 | -0.36 | -1.32 | +5.54 | ||||||||
| +4.62 | +6.55 | +0.86 | +4.40 | +2.66 | |||||||
| BOTTOM 25% | |||||||||||
Rank within Category compares this fund's total annual return to that of other funds in the same category and its figures are not adjusted for any fees and expenses, loads, sales charges, or taxes. See the Monthly Returns table for load-adjusted performance.
© 2020 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Cumulative Growth of a $10,000 Investment
| SWNTX (Fund) | $14,633 | |
|---|---|---|
| Bloomberg Barclays Municipal 3-15 Year Blend Index (Index) | $15,147 | |
| S&P National AMT-Free Municipal Bond Index (Index) | $15,611 | |
| Muni National Interm (Morningstar Category) | $14,341 | |
| Worst Three Months Return (8/31/2016 - 11/30/2016) | -4.74 | |
| Best Three Months Return (4/30/2020 - 7/31/2020) | +5.70 |
This graph represents the growth of a hypothetical investment of $10,000. It assumes reinvestment of dividends and capital gains, and does not reflect sales loads, redemption fees or the effects of taxes on any capital gains and/or distributions. If the inception date of the Index is less than the time period shown above, the Since Inception period is shown. Best and Worst Return cover the timeframe of the chart.
Price Performance
Portfolio
Top Holdings
-
--
- Name
- TEXAS ST TXS 08/21 FIXED 4
- Percent of Assets (%)
- 1.91%
- Market Value
- $15.4M
-
--
- Name
- KING CNTY WA SCH DIST 414 LAK KINSCD 12/28 FIXED 4
- Percent of Assets (%)
- 1.57%
- Market Value
- $12.6M
-
--
- Name
- FAIRFAX CNTY VA FAI 10/33 FIXED 5
- Percent of Assets (%)
- 0.85%
- Market Value
- $6.8M
-
--
- Name
- JACKSON CNTY MO REORG SCH DIST JACSCD 03/36 FIXED 5.5
- Percent of Assets (%)
- 0.84%
- Market Value
- $6.7M
-
--
- Name
- BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/34 FIXED 5
- Percent of Assets (%)
- 0.83%
- Market Value
- $6.7M
-
--
- Name
- MASSACHUSETTS ST MAS 11/50 FIXED 5
- Percent of Assets (%)
- 0.81%
- Market Value
- $6.5M
-
--
- Name
- NEW YORK ST DORM AUTH SALES TA NYSHGR 03/34 FIXED 5
- Percent of Assets (%)
- 0.79%
- Market Value
- $6.3M
-
--
- Name
- MARYLAND ST MDS 03/26 FIXED 5
- Percent of Assets (%)
- 0.79%
- Market Value
- $6.3M
-
--
- Name
- SALES TAX ASSET RECEIVABLE COR SLS 10/31 FIXED 5
- Percent of Assets (%)
- 0.77%
- Market Value
- $6.2M
-
--
- Name
- GTR ORLANDO FL AVIATION AUTH A GREAPT 10/26 FIXED 5
- Percent of Assets (%)
- 0.77%
- Market Value
- $6.2M
| Symbol | Name | Percent of Assets (%) | Market Value | ||
|---|---|---|---|---|---|
| -- | TEXAS ST TXS 08/21 FIXED 4 | 1.91%
|
$15.4M | ||
| -- | KING CNTY WA SCH DIST 414 LAK KINSCD 12/28 FIXED 4 | 1.57%
|
$12.6M | ||
| -- | FAIRFAX CNTY VA FAI 10/33 FIXED 5 | 0.85%
|
$6.8M | ||
| -- | JACKSON CNTY MO REORG SCH DIST JACSCD 03/36 |