Fund Evaluator:
Transamerica Intermediate Muni I (TIMUX)
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Best Performing in Muni National Interm Over the Last Year
| 8.4% | Sit Tax-Free Income (SNTIX) |
| 5.6% | Putnam Strategic Intermediate Muncpl Y (PAMYX) |
| 5.5% | Goldman Sachs Dynamic Municipal Inc Inv (GUIRX) |
| 5.3% | Victory Tax Exempt Intermediate-Term (USATX) |
| 5.2% | Vanguard Tax-Exempt Bond Index Admiral (VTEAX) |
Fund Details
Transamerica Intermediate Muni I Overview
Transamerica Intermediate Muni I (TIMUX) is an actively managed Municipal Bond Muni National Interm fund. Transamerica launched the fund in 2012.
The investment seeks to maximize total return through a combination of current income that is exempt from federal income tax and capital appreciation. Under normal circumstances, the fund's sub-adviser invests at least 80% of the fund's net assets (plus the amount of borrowings, if any, for investment purposes) in municipal fixed-income securities the interest from which is exempt from federal income tax and the federal alternative minimum tax ("AMT") applicable to individuals. The fund invests primarily in general obligation and revenue bonds issued by U.S. municipal issuers, as well as issuers in U.S. territories and possessions.
About Transamerica Intermediate Muni I (TIMUX)
There are 2 members of the management team with an average tenure of 2.38 years: Max Christiana (2021), Lincoln James (2026). 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 Managed Mny Interm TR USD index with a weighting of 100%. Transamerica Intermediate Muni I has 822 securities in its portfolio. The top 10 holdings constitute 6.9% 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.
Transamerica Intermediate Muni I is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Transamerica Intermediate Muni I has 0.3% 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 92.5% (92.2% domestic bond, 0.3% foreign bond and 0.0% convertible bond). Transamerica Intermediate Muni I has 7.5% of the portfolio in cash.
Assets Under Management
The fund has $792 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.
TIMUX 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 Transamerica Intermediate Muni I expense ratio is average compared to funds in the Muni National Interm category. Transamerica Intermediate Muni I has an expense ratio of 0.49%, which is 28% 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. Transamerica Intermediate Muni I has a portfolio turnover rate of 118%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 39% for the Muni National Interm category.
Recently, in the month of July 2026, Transamerica Intermediate Muni I returned -1.6%, which earned it a grade of D, 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.
Transamerica Intermediate Muni I has a trailing yield of 3.39%, 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.
Transamerica Intermediate Muni I 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 5.6% over the past year (grade of A), 3.3% over the past three years (grade of C) and 0.1% per year over the past five years (grade of F) and 1.6% per year over the past 10 years (grade of D).
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TIMUX 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 |
|
| TIMUX Return (NAV) | -1.6% | -0.5% | 5.6% | 3.3% | 0.1% | 1.6% |
| TIMUX Grade | D | C | A | C | F | D |
| +/- Category | -0.1% | -0.0% | 1.0% | 0.1% | -0.5% | -0.1% |
| Muni National Interm Avg | -1.6% | -0.5% | 4.6% | 3.2% | 0.6% | 1.7% |
| TIMUX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
TIMUX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TIMUX Return (NAV) | 0.6% | 3.9% | 2.7% | 6.3% | -11.9% | 2.3% | 4.5% | 7.4% | 1.1% | 5.6% | -0.2% |
| TIMUX Grade | B | D | A | B | F | B | B | B | B | A | C |
| +/- Category | 0.2% | -0.3% | 0.8% | 0.5% | -3.6% | 0.6% | 0.2% | 0.7% | 0.3% | 0.9% | -0.0% |
| Muni National Interm Avg | 0.4% | 4.2% | 2.0% | 5.8% | -8.2% | 1.7% | 4.3% | 6.7% | 0.8% | 4.7% | -0.2% |
| Risk Measures | |
| Standard Deviation: | 5.3% |
| Total Risk Index: | 0.43 - Low |
| Category Risk Index: | 1.11 - Above Average |
| Category Risk Grade: | D (80% Rank) |
| Beta: | 0.92 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $916 Mil |
| Fund Total Assets: | $ 793 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 118% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.7 years | |||
| Average Tenure: 2.4 years | |||
| Managers (Year): Christiana Max (2021), James Lincoln (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 822 |
| % in Top 10 Holdings: | 6.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 92.2% |
| Foreign Bond: | 0.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.5% |
Purchase Information
| Fund Family: | Transamerica |
| Phone Number: | 888-233-4339 |
| Website: | www.transamericafunds.com |
| Status: | Open |
| Inception Date: | October 31, 2012 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $1,000,000 |
| 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 (%): | 0.49% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.68% |
| Share Class: | Transamerica Intermediate Muni I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
