BMO Short Tax-Free Fund

Fund overview


To provide current income exempt from federal income tax consistent with preservation of capital.


Net fund assets

Morningstar Rating

BMO Municipal Fixed Income

Experience through multiple credit cycles and a collaborative, open-dialogue approach drives our municipal investment strategies.

BMO municipal fixed income

    Portfolio managers

    Thomas Byron
    Senior Portfolio Manager
    Brian Sipich
    Portfolio Manager
    Robert Wimmel
    Head of Tax-Exempt Fixed Income, Portfolio Manager

    Municipal fixed income insights

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    August 2020

    Bluebirds fly

    This month, we’ll focus on the strong recovery in the muni market over the second quarter, which proved to be illuminating to municipal investors on a couple fronts.

    April 2020

    The state of the municipal market

    There will be an increase in defaults, but we believe they will largely occur in the muni high yield space of below investment-grade credits.

    March 2020

    A "quiet" week in fixed income

    This week we saw the largest fiscal stimulus in U.S. history, significant monetary policy announcements from the Fed and T-bills go into negative yielding territory…and it felt like a quiet week!

    February 2020

    Cowabunga! What a year!

    Typically, fixed income returns would be below average in the face of strong equity markets. But that was far from reality.

    November 2019

    Elevating your bond experience: bond ladders vs. an active approach

    While investors generally agree that fixed income is an indispensable element of most portfolios, there are different approaches as to how to invest in fixed income.

    Performance data quoted prior to the inception of the Class A Shares is the performance of the Fund’s Investor (Class Y) Shares, not adjusted for any differences in the expenses of the classes.

    Performance data quoted represents past performance and past performance is not a guarantee of future results. Investment returns and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Mutual fund performance changes over time and current performance may be lower or higher than what is stated. To receive the most recent month-end performance, call 1-800-236-3863.

    Returns are pre-tax. An investor should consider his or her current and anticipated investment horizon and income tax bracket when making an investment decision as the illustration above does not reflect these factors. For more information about performance, please contact your investment professional. For more information about performance, please contact your investment professional. Total returns for periods of one year or less are cumulative.

    Net Expense Ratios reflect contractual fee waivers and/or expense reimbursements made by BMO Asset Management Corp., the investment adviser (Adviser). The Adviser may not terminate these fee waivers and/or expense reimbursements prior to December 31, 2020 without the consent of the Board of Directors, unless the investment advisory agreement is terminated. Without these contractual waivers, the Funds’ returns would have been lower. Please see the prospectus for more information.

    The Bloomberg Barclays Short (1-5 Year) Muni Index includes investment-grade tax-exempt bonds that are issued by state and local governments and have maturities of 1 to 5 years. Investments cannot be made in an index.

    Interest income from the Fund’s investments may be subject to the federal alternative minimum tax (AMT) for individuals and corporations, and state and local taxes.

    Effective June 2, 2017, Class Y shares of the Fund were converted into Class A shares of the Fund. The Fund no longer offers Class Y shares.

    Lipper Short Municipal Debt Index is comprised of funds that invest in municipal debt issues with dollar-weighted average maturities of less than three years.

    The maximum sales charge (load) imposed on purchases (as a percentage of offering price) is 2.00% for Class A shares. The Class NAV performance does not reflect the deduction of the sales load or fee,and if reflected, the load or fee would reduce the performance quoted.

    ¹ For money market funds, current and effective 7-day yield displayed as of today’s date. Yield will vary. The yield quotations for money market funds more closely reflect the current earnings of the fund than the total return quotations. The 7-day effective yield is based on the 7-day yield and is then compounded and annualized. Total returns for periods of less than one year are cumulative.