Tax-Advantaged Income Built for Minnesota Investors
For Minnesotans in a high-tax state, municipal bonds exempt from both federal and state taxes can be a meaningful advantage. MINN seeks a high level of current income, which is exempt from both federal and Minnesota income taxes, by investing primarily in investment-grade municipal securities issued across the state. Consistent with the research-driven approach we've followed since 1931, we assess every credit with a disciplined focus on avoiding downside risk.
Why Consider MINN?
- Tax Efficiency that Matters - monthly income distributions are mostly exempt from Minnesota and federal tax for state residents, and with a 25 basis-point expense ratio, more of that income reaches the investor rather than being consumed by costs.
- High-Quality Focus - fixed income carries two primary risks: interest rates and credit. Municipal bonds generally offer lower interest-rate volatility and higher credit quality. Minnesota's economic diversity, educated workforce, and broad, resilient tax base support impressive creditworthiness. That has meant that the state carries credit ratings higher than the U.S. government, and municipal bonds have a long history of superior default metrics compared to corporate bonds.
- Research-Driven Approach - each bond is evaluated through a disciplined, bottom-up credit process, an approach that has guided the firm since its inception.
Who is MINN for?
MINN was created as a core fixed-income allocation for Minnesota investors in the upper combined federal and state tax brackets, particularly those who prioritize capital preservation alongside income. With more than 75% of the portfolio rated AA or higher as of the most recent quarter-end, and the daily liquidity and transparency of an ETF structure, it's designed to work efficiently in individual portfolios, model portfolios, and on advisory platforms.
Looking for Dependability You Can Trust?
When markets become more volatile or credit conditions tighten, MINN is designed to provide a stabilizing, high-quality layer within a broader portfolio, aiming to help investors generate income while maintaining a focus on capital preservation. To learn more about MINN, visit the Fund page.