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Explore the Balanced Fund
- Performance & NAV
- Morningstar Ratings
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Facts - Objective & Strategy
- Portfolio Characteristics
- Distribution History
- How to
Invest - Fund Documents
- Board of Trustees
PERFORMANCE & NAV
Average Annualized Returns (%)
| As of 09/30/2024 |
Inception 1/10/1961
| FUND/INDEX | 1 YR | 5 YR | 10 YR | 20 YR | 25 YR | SINCE INCEPTION | ||||||||||||||
| Mairs & Power Balanced Fund2 | 22.83 | 8.07 | 7.52 | 7.72 | 7.61 | 9.42 | ||||||||||||||
| Composite Index3 | 25.87 | 9.81 | 8.95 | 7.97 | 6.88 | 9.00 | ||||||||||||||
| Morningstar Category4 | 21.92 | 7.92 | 6.59 | 6.24 | 5.17 | - | ||||||||||||||
| S&P 500 TR Index5 | 36.35 | 15.98 | 13.38 | 10.71 | 8.20 | - | ||||||||||||||
| Bloomberg U.S.Govt/Credit Bond Index6 | 11.31 | 0.41 | 2.00 | 3.29 | 4.16 | - | ||||||||||||||
Calendar Year Returns (%)
| FUND/INDEX | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 |
| Mairs & Power Balanced Fund2 | 13.39 | -14.91 | 18.30 | 10.44 | 20.32 | -2.80 | 11.90 | 11.42 | -2.54 | 8.04 | 19.02 | 17.34 | 3.23 | 14.87 | 21.35 | -21.12 | 4.28 | 12.10 | 4.50 | 12.00 |
| Composite Index3 | 17.76 | -16.00 | 15.76 | 15.30 | 22.64 | -2.52 | 14.41 | 8.48 | 1.13 | 10.63 | 17.40 | 11.58 | 5.05 | 15.06 | 12.17 | -21.91 | 6.20 | 10.99 | 3.86 | 7.46 |
| As of 10/14/2024: NAV - Daily Closing Price | ||||||||||||||||||||
| Balanced Fund | MAPOX | $111.75 | ||||||||||||||||||
| As of 4/30/2024 Prospectus Expense Ratio | ||||||||||||||||||||
| 0.71% annualized as of 12/31/23 | ||||||||||||||||||||
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance as of the most recent month end is available by calling 800-304-7404.
2Performance shown includes the reinvestment of dividend and capital gain distributions, but does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
Index Definitions
3Composite Index reflects an unmanaged portfolio of 60% of the S&P 500 TR Index and 40% of the Bloomberg U.S. Government/Credit Bond Index.
4Morningstar Moderate Allocation Category portfolios seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. These portfolios tend to hold larger positions in stocks than conservative-allocation portfolios. These portfolios typically have 50% to 70% of assets in equities and the remainder in fixed income and cash.
5S&P 500 TR Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market.
6Bloomberg U.S. Government/Credit Bond Index is a broad-based flagship benchmark that measures the non-securitized component of the U.S. Aggregate Index. It includes investment-grade, U.S. dollar-denominated, fixed-rate treasuries, government-related and corporate securities.
It is not possible to invest directly in an index.
Mairs & Power Balanced Fund Has Out-Performed 4 of the Last 6 Full Economic Cycles
When Mairs & Power talks about the advantages of holding through a “full economic market cycle,” we are referring to the business cycle fluctuation between contraction and expansion, also called recession and recovery. Investors who enjoy growth opportunities during times of expansion must consider and prepare for times when the economy inevitably contracts. Mairs & Power’s portfolios are designed with the intent to help preserve capital over full cycles.
The periods in this chart are called “trough to trough.” The beginning point of each period marks the start of a recovery following a recession. During the period, a “peak” is reached and then another contraction begins. The end of the period marks the low point prior to the next recovery starting, and is also referred to as a “trough.”
A recessionary period is a period of significant decline in widespread economic activity spread lasting more than a few months, normally visible in real GDP (Gross Domestic Product), real income, employment, industrial production and wholesale-retail sales.
Source: Public Information Office National Bureau of Economic Research, Inc
PERFORMANCE OVER ECONOMIC CYCLES, ANNUALIZED TOTAL RETURNS %: 1975-2022
FULL ECONOMIC CYCLES
CURRENT CYCLE (INCOMPLETE)
COMBINED PERIOD
FUND/INDEXES
- Mairs & Power Balanced Fund
- Composite Index3
- Morningstar Category4
| PERIOD | DATE RANGE |
| Per. 1 | 3/31/1975 - 7/31/1980 |
| Per. 2 | 7/31/1980 - 11/30/1982 |
| Per. 3 | 11/30/1982 - 3/29/1991 |
| Per. 4 | 3/29/1991 - 11/30/2001 |
| Per. 5 | 11/30/2001 - 6/30/2009 |
| Per. 6 | 6/30/2009 - 4/30/2020 |
| Current | 4/30/2020 - 6/30/2024 |
| Combined | 3/31/1975 - 6/30/2024 |
The information shown is only for the time periods indicated. Performance for other periods may differ, possibly significantly.
MORNINGSTAR RATINGS & RANKINGS
| As of 6/30/2024 among Moderate Allocation Funds based on risk-adjusted returns. |
|---|
| OVERALL | 1 YR | 3 YR | 5 YR | 10 YR | Since Inception | |
| Star Rating |  | - | | | | - |
| Funds in Category | 680 | - | 680 | 642 | 484 | - |
| Percentile Rank | - | 62 | 50 | 43 | 35 | 34 |
| Funds in Category | - | 741 | 704 | 682 | 600 | 38 |
Inception 1/10/1961
FUND FACTS
| As of 6/30/2024: | |
| Ticker | MAPOX |
| Inception Date | 1/10/1961 |
| Style | Balanced |
| Annualized Turnover7 | 11.74% |
| Expense Ratio | 0.71% |
| Equity Holdings | 47 |
| Active Share8 | 78.06% |
| Sharpe Ratio9 | 0.01 |
| Net/ Asset Value10 | $106.16 |
| Wtd. Ave. Market Cap11 | $436B |
| Fixed Income Holdings | 216 |
| 30-Day SEC Yield12 | 2.38% |
| Effective Maturity (Years) | 7.45 |
| Effective Duration13 | 5.40 |
| Total Net Assets | $764M |
| Sales Charge1 | None |
| Min. Initial Investment | $2,500 |
| Min. Initial IRA Investment | $1,000 |
| Subsequent Investment | $100 |
| Income Distribution | Quarterly |
| Capital Gains Distributions | Annual |
OBJECTIVE & STRATEGY
To provide capital growth, current income and preservation of capital.
PORTFOLIO CHARACTERISTICS
| As of 6/30/2024: |
| Equity Sector Weights | % PORTFOLIO | |
| Information Technology | 12.7 | |
| Health Care | 11.8 | |
| Financials | 11.4 | |
| Industrials | 10.2 | |
| Consumer Staples | 5.9 | |
| Communication Services | 5.2 | |
| Materials | 4.4 | |
| Utilities | 1.3 | |
| Consumer Discretionary | 1.0 | |
| 0.0 | ||
| 0.0 | ||
| Total Common Stock | 63.9 |
| TOP 10 HOLDINGS | % PORTFOLIO |
| Microsoft Corp. | 4.1 |
| Alphabet Inc. | 4.0 |
| UnitedHealth Group Inc. | 2.8 |
| JPMorgan Chase & Co. | 2.7 |
| Fiserv Inc. | 2.5 |
| Texas Instruments, Inc. | 2.2 |
| Ecolab, Inc. | 2.1 |
| Toro Company | 2.1 |
| Eli Lilly & Co. | 2.1 |
| Visa Inc. | 2.0 |
Holdings in the portfolio are subject to change without notice and may or may not represent current or future portfolio composition. The mention of specific securities is not intended as a recommendation or an offer of a particular security nor is it intended to be a solicitation for the purchase or sale of any security.
Sector Allocation
See Legend Above.
Market Cap Allocation
| Large Cap | 90.0% | |
| Mid Cap | 9.0% | |
| Small Cap | 1.0% |
Geographic Allocation
| Minnesota | 32.0% | |
| Upper Midwest | 15.0% | |
| Other | 53.0% |
Asset Allocation
| Common Stock | 64.0% | |
| Corporate Bonds | 31.0% | |
| Asset Backed Securities | 1.0% | |
| Municipal Bonds | 1.0% | |
| U.S. Government Obligations | 2.0% | |
| Cash | 1.0% |
DISTRIBUTION HISTORY
The Mairs & Power Balanced Fund declares and pays dividend income quarterly, in March, June, September and December. If any capital gains are realized during the year, the Fund will distribute the net gains in December toward the end of the month.
| RECORD DATE | EX-DIVIDEND PAYABLE/REINVEST DATE | REINVEST NAV | DIVIDEND PER SHARE | SHORT-TERM CAPITAL GAINS | LONG-TERM CAPITAL GAINS |
| 3/27/2024 | 3/28/2024 | $106.86 | $0.55 | - | - |
| 6/26/2024 | 6/27/2024 | $106.52 | $0.52 | - | - |
| 9/26/2024 | 9/27/2024 | $111.48 | $0.54 | - | - |
| 12/14/2023 | 12/15/2023 | $100.44 | $0.58 | - | $1.63 |
How to Invest
Mutual Funds
Existing shareholders: You can add to your current investment or open a new account in any of the Mairs & Power mutual funds by logging in to My Fund Account, calling Shareholder Services at 800-304-7404, or mailing your application and investment to the addresses below.
New investors working with financial advisors: Your financial advisor can open an account for you on most platforms.
New direct investors: You can open a new account by
For regular mail delivery:
U.S. Bank Global Fund Services
P.O. Box 701
Milwaukee, WI 53201-0701
For express and overnight mail delivery:
U.S. Bank Global Fund Services
3rd Floor
615 East Michigan Street
Milwaukee, WI 53202
| MUTUAL FUNDS MINIMUM INVESTMENT AMOUNTS | |
|---|---|
| New account | $2,500 |
| Subsequent investments | $100 |
| New IRA account | $1,000 |
| Subsequent IRA investments | $100 |
MUTUAL FUND QUESTIONS?
We’re here to help you with all your account opening or servicing questions.
Please call 800-304-7404
Exchange Traded Fund | ETF
Talk with your financial planner or brokerage firm to purchase the Mairs & Power Minnesota Municipal Bond ETF. Shares can also be purchased through an online brokerage firm.
ETF QUESTIONS?
Investing questions should be directed to your financial advisor or online brokerage. Learn more about the Minnesota Municipal Bond ETF by calling 855-839-2800 or emailing us at MINN@mairsandpower.com.