Fund Evaluator:
Columbia Oregon Itmt Muncpl Bd S (CMBCX)
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Best Performing in Muni Single State Interm Over the Last Year
| 7.0% | Victory VA Bond (USVAX) |
| 6.9% | Dupree AL Tax-Free Income (DUALX) |
| 6.5% | Dupree TN Tax-Free Income (TNTIX) |
| 5.9% | Dupree KY Tax-Free Income (KYTFX) |
| 5.6% | Dupree NC Tax-Free Income (NTFIX) |
Fund Details
Columbia Oregon Itmt Muncpl Bd S Overview
Columbia Oregon Itmt Muncpl Bd S (CMBCX) is an actively managed Municipal Bond Muni Single State Interm fund. Columbia Threadneedle launched the fund in 2024.
The investment seeks a high level of income exempt from federal and Oregon income tax by investing at least 80% of its net assets (plus any borrowings for investment purposes) in municipal securities issued by the State of Oregon. Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in municipal securities issued by the State of Oregon and its political subdivisions, agencies, authorities and instrumentalities.
About Columbia Oregon Itmt Muncpl Bd S (CMBCX)
There are 3 members of the management team with an average tenure of 5.10 years: Paul Fox (2016), Doug Rangel (2022), Travis Bates (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg Municipal 3-15Y Blend TR USD index with a weighting of 100%. Columbia Oregon Itmt Muncpl Bd S has 185 securities in its portfolio. The top 10 holdings constitute 19.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Columbia Oregon Itmt Muncpl Bd S is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Columbia Oregon Itmt Muncpl Bd S has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.1% (97.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Columbia Oregon Itmt Muncpl Bd S has 2.9% of the portfolio in cash.
Assets Under Management
The fund has $16 million in total assets, which is below the $85 million average for the Muni Single State Interm category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CMBCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Columbia Oregon Itmt Muncpl Bd S expense ratio is average compared to funds in the Muni Single State Interm category. Columbia Oregon Itmt Muncpl Bd S has an expense ratio of 0.59%, which is 29% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Columbia Oregon Itmt Muncpl Bd S has a portfolio turnover rate of 13%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 41% for the Muni Single State Interm category.
Recently, in the month of July 2026, Columbia Oregon Itmt Muncpl Bd S returned -1.3%, which earned it a grade of A, as the Muni Single State Interm category had an average return of -1.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Columbia Oregon Itmt Muncpl Bd S has a trailing yield of 2.55%, which is below the 3.00% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Columbia Oregon Itmt Muncpl Bd S Grades
Year to date, the fund has returned 0.2%, 0.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.0% over the past year (grade of D), 2.6% over the past three years (grade of C) and 0.5% per year over the past five years (grade of B) and 1.5% per year over the past 10 years (grade of B).
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CMBCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CMBCX Return (NAV) | -1.3% | -0.5% | 4.0% | 2.6% | 0.5% | 1.5% |
| CMBCX Grade | A | C | D | C | B | B |
| +/- Category | 0.4% | 0.1% | -1.0% | 0.0% | 0.3% | 0.2% |
| Muni Single State Interm Avg | -1.7% | -0.6% | 5.0% | 2.6% | 0.2% | 1.3% |
| CMBCX Tax Cost Ratio | na | na | 0.0% | na | na | na |
CMBCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CMBCX Return (NAV) | 0.2% | 4.4% | 0.9% | 4.1% | -6.5% | 0.6% | 4.3% | 6.2% | 1.0% | 3.7% | -0.2% |
| CMBCX Grade | D | B | C | D | B | C | C | B | B | C | D |
| +/- Category | -0.1% | 0.3% | 0.0% | -0.4% | 1.3% | 0.1% | 0.2% | 0.4% | 0.1% | 0.3% | -0.3% |
| Muni Single State Interm Avg | 0.3% | 4.0% | 0.9% | 4.5% | -7.7% | 0.5% | 4.2% | 5.7% | 0.8% | 3.5% | 0.1% |
| Risk Measures | |
| Standard Deviation: | 3.9% |
| Total Risk Index: | 0.31 - Low |
| Category Risk Index: | 0.77 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.67 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $288 Mil |
| Fund Total Assets: | $ 17 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 13% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.8 years | |||
| Average Tenure: 5.1 years | |||
| Managers (Year): Fox Paul (2016), Rangel Doug (2022), Bates Travis (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 185 |
| % in Top 10 Holdings: | 19.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 97.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.9% |
Purchase Information
| Fund Family: | Columbia Threadneedle |
| Phone Number: | 800-345-6611 |
| Website: | www.columbiathreadneedleus.com |
| Status: | Open |
| Inception Date: | October 2, 2024 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.59% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.84% |
| Share Class: | Columbia Oregon Itmt Muncpl Bd Inst |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
