Fund Evaluator:
Dupree Taxable Municipal Bond (DUTMX)
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Best Performing in Long-Term Bond Over the Last Year
| 5.2% | Dupree Taxable Municipal Bond (DUTMX) |
| 4.8% | Vanguard Long-Term Corporate Bd Idx Adm (VLTCX) |
| 4.6% | Vanguard Long-Term Investment-Grade Adm (VWETX) |
| 4.4% | Vanguard Long-Term Investment-Grade Inv (VWESX) |
| 3.9% | Vanguard Long-Term Bond Index Admiral (VBLAX) |
Fund Details
Dupree Taxable Municipal Bond Overview
Dupree Taxable Municipal Bond (DUTMX) is an actively managed Taxable Bond Long-Term Bond fund. Dupree launched the fund in 2010.
The investment seeks to provide a high and stable level of taxable income derived from taxable municipal bonds without incurring undue risk to principal. The fund seeks to provide a steady flow of taxable income derived from taxable municipal securities of investment grade quality (those rated BBB or Baa or higher by U.S. nationally recognized rating organizations (NRSROs) at the time of purchase) with a weighted average nominal maturity normally greater than 10 years. The fund generally purchases taxable municipal bonds with nominal maturities typically ranging from 10-30 years. The fund is non-diversified.
About Dupree Taxable Municipal Bond (DUTMX)
There are 1 members of the management team with an average tenure of 15.67 years: Vincent Harrison (2010). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg Taxable Municipal TR USD index with a weighting of 100%. Dupree Taxable Municipal Bond has 19 securities in its portfolio. The top 10 holdings constitute 71.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Dupree Taxable Municipal Bond is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Dupree Taxable Municipal Bond 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 100.0% (100.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Dupree Taxable Municipal Bond has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $774 million average for the Long-Term Bond 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.
DUTMX 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 Dupree Taxable Municipal Bond expense ratio is high compared to funds in the Long-Term Bond category. Dupree Taxable Municipal Bond has an expense ratio of 1.34%, which is 29% higher than its category average, making the fund expense ratio grade a D. 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. Dupree Taxable Municipal Bond has a portfolio turnover rate of 12%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 78% for the Long-Term Bond category.
Recently, in the month of June 2026, Dupree Taxable Municipal Bond returned 1.1%, which earned it a grade of A, as the Long-Term Bond category had an average return of 0.4%. 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.
Dupree Taxable Municipal Bond has a trailing yield of 4.43%, which is below the 4.95% 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.
Dupree Taxable Municipal Bond Grades
Year to date, the fund has returned 1.8%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 5.2% over the past year (grade of A), 3.8% over the past three years (grade of B) and -2.4% per year over the past five years (grade of B) and 0.6% per year over the past 10 years (grade of F).
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DUTMX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DUTMX Return (NAV) | 1.1% | 1.0% | 5.2% | 3.8% | -2.4% | 0.6% |
| DUTMX Grade | A | F | A | B | B | F |
| +/- Category | 0.7% | -1.0% | 0.6% | 0.3% | 0.1% | -1.0% |
| Long-Term Bond Avg | 0.4% | 2.0% | 4.6% | 3.5% | -2.5% | 1.5% |
| DUTMX Tax Cost Ratio | na | na | 1.8% | 1.8% | 1.7% | 1.8% |
DUTMX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DUTMX Return (NAV) | 1.8% | 6.4% | 1.4% | 7.2% | -25.3% | 0.8% | 6.2% | 6.6% | 2.0% | 5.1% | 4.1% |
| DUTMX Grade | A | D | A | F | B | A | F | F | A | F | F |
| +/- Category | 0.6% | -0.6% | 2.9% | -1.6% | -0.4% | 1.5% | -6.9% | -11.6% | 6.6% | -5.1% | -2.9% |
| Long-Term Bond Avg | 1.2% | 6.9% | -1.4% | 8.8% | -24.8% | -0.8% | 13.1% | 18.2% | -4.6% | 10.1% | 6.9% |
| Risk Measures | |
| Standard Deviation: | 6.5% |
| Total Risk Index: | 0.54 - Below Average |
| Category Risk Index: | 0.61 - Low |
| Category Risk Grade: | A (13% Rank) |
| Beta: | 1.13 |
| R-Squared: | 92% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 4.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $3 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 13% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 15.7 years | |||
| Average Tenure: 15.7 years | |||
| Managers (Year): Harrison Vincent (2010) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 19 |
| % in Top 10 Holdings: | 71.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 100.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Dupree |
| Phone Number: | 800-866-0614 |
| Website: | www.dupree-funds.com |
| Status: | Open |
| Inception Date: | November 1, 2010 |
| Min. Initial Purchase: | $ 500 |
| 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 (%): | 1.34% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | Dupree Taxable Municipal Bond |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
