Fund Evaluator:
Nebraska Municipal I (NEITX)
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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
Nebraska Municipal I Overview
Nebraska Municipal I (NEITX) is an actively managed Municipal Bond Muni Single State Interm fund. Integrity Viking Funds launched the fund in 2017.
The investment seeks the highest level of current income that is exempt from federal and Nebraska personal income taxes and is consistent with preservation of capital. The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in municipal securities that pay interest free from (a) federal income taxes, including the federal alternative minimum tax, and (b) Nebraska personal income taxes. It may invest up to 30% of its net assets in U.S. territorial obligations, the interest on which is exempt from federal and Nebraska personal income taxes. The fund is non-diversified.
About Nebraska Municipal I (NEITX)
There are 2 members of the management team with an average tenure of 13.68 years: Shannon Radke (2010), Joshua Larson (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg Municipal TR USD index with a weighting of 100%. Nebraska Municipal I has 40 securities in its portfolio. The top 10 holdings constitute 47.8% 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.
Nebraska Municipal I is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Nebraska Municipal I 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 98.0% (98.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nebraska Municipal I has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $5 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.
NEITX 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 Nebraska Municipal I expense ratio is above average compared to funds in the Muni Single State Interm category. Nebraska Municipal I has an expense ratio of 0.73%, which is 13% lower than its category average, making the fund expense ratio grade a C. 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. Nebraska Municipal I has a portfolio turnover rate of 32%, indicating that holds its assets around 0.0 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, Nebraska Municipal I returned -1.7%, which earned it a grade of C, 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.
Nebraska Municipal I has a trailing yield of 3.44%, which is above the 3.00% category average. The fund normally distributes its income monthly.
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.
Nebraska Municipal I Grades
Year to date, the fund has returned 0.9%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 6.3% over the past year (grade of B), 2.0% over the past three years (grade of F) and -0.3% per year over the past five years (grade of F) and 0.8% per year over the past 10 years (grade of F).
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NEITX 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 |
|
| NEITX Return (NAV) | -1.7% | -0.3% | 6.3% | 2.0% | -0.3% | 0.8% |
| NEITX Grade | C | A | B | F | F | F |
| +/- Category | 0.0% | 0.3% | 1.3% | -0.6% | -0.5% | -0.4% |
| Muni Single State Interm Avg | -1.7% | -0.6% | 5.0% | 2.6% | 0.2% | 1.3% |
| NEITX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | na |
NEITX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NEITX Return (NAV) | 0.9% | 3.0% | -0.4% | 4.5% | -8.9% | -0.0% | 3.6% | 5.5% | 0.6% | 4.3% | -0.6% |
| NEITX Grade | A | F | F | C | D | D | F | D | D | A | F |
| +/- Category | 0.6% | -1.1% | -1.3% | 0.1% | -1.2% | -0.5% | -0.6% | -0.3% | -0.2% | 0.9% | -0.7% |
| 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: | 5.5% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 1.09 - Above Average |
| Category Risk Grade: | D (65% Rank) |
| Beta: | 0.94 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 3.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $27 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 32% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 15.7 years | |||
| Average Tenure: 13.7 years | |||
| Managers (Year): Radke Shannon (2010), Larson Joshua (2014) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 40 |
| % in Top 10 Holdings: | 47.8% |
| 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: | 98.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | Integrity Viking Funds |
| Phone Number: | 800-276-1262 |
| Website: | www.integrityvikingfunds.com |
| Status: | Open |
| Inception Date: | November 1, 2017 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.73% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.84% |
| Share Class: | Nebraska Municipal A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
