Fund Evaluator:

Columbia Intermediate Dur Muni Bd Inst Overview

Columbia Intermediate Dur Muni Bd Inst (SETMX) is an actively managed Municipal Bond Muni National Interm fund. Columbia Threadneedle launched the fund in 1993.

The investment seeks current income exempt from federal income tax, consistent with preservation of principal. The fund normally invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in municipal securities that pay interest exempt from U.S. federal income tax (including the federal alternative minimum tax). It normally invests at least 80% of its total assets in municipal securities that, at the time of purchase, are rated investment grade or are unrated but determined by the management team to be of comparable quality.

About Columbia Intermediate Dur Muni Bd Inst (SETMX)

There are 3 members of the management team with an average tenure of 6.43 years: Paul Fox (2012), 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 2-17Y TR index with a weighting of 100%. Columbia Intermediate Dur Muni Bd Inst has 567 securities in its portfolio. The top 10 holdings constitute 8.7% 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 Intermediate Dur Muni Bd Inst is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Columbia Intermediate Dur Muni Bd Inst has 0.2% 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 99.5% (99.4% domestic bond, 0.2% foreign bond and 0.0% convertible bond). Columbia Intermediate Dur Muni Bd Inst has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $393 million in total assets, which is below the $1 billion average for the Muni National 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.

SETMX 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 Intermediate Dur Muni Bd Inst expense ratio is average compared to funds in the Muni National Interm category. Columbia Intermediate Dur Muni Bd Inst has an expense ratio of 0.40%, which is 41% lower than its category average, making the fund expense ratio grade a A. 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 Intermediate Dur Muni Bd Inst has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 39% for the Muni National Interm category.

Recently, in the month of July 2026, Columbia Intermediate Dur Muni Bd Inst returned -1.3%, which earned it a grade of A, as the Muni National Interm category had an average return of -1.6%. 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 Intermediate Dur Muni Bd Inst has a trailing yield of 3.44%, which is above the 3.27% 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 Intermediate Dur Muni Bd Inst Grades

Year to date, the fund has returned 0.6%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 4.5% over the past year (grade of C), 3.4% over the past three years (grade of B) and 0.9% per year over the past five years (grade of B) and 1.8% per year over the past 10 years (grade of C).

For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about Columbia Intermediate Dur Muni Bd Inst, including its riskiness, submit your email to unlock the rest of the article.