Fund Evaluator:
Dupree TN Tax-Free Income (TNTIX)
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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
Dupree TN Tax-Free Income Overview
Dupree TN Tax-Free Income (TNTIX) is an actively managed Municipal Bond Muni Single State Interm fund. Dupree launched the fund in 1993.
The investment seeks to provide a high and stable level of income exempt from federal taxes and Tennessee state taxes (if applicable) derived from Tennessee municipal securities without incurring undue risk to principal. The fund’s assets will be invested so that at least 80% of the income will be exempt from Federal income taxes and Tennessee income taxes (if applicable) or it will have at least 80% of its net assets invested in securities exempt from Federal income taxes and Tennessee income taxes (if applicable).
About Dupree TN Tax-Free Income (TNTIX)
There are 1 members of the management team with an average tenure of 26.60 years: Vincent Harrison (1999). 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%. Dupree TN Tax-Free Income has 77 securities in its portfolio. The top 10 holdings constitute 27.6% 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.
Dupree TN Tax-Free Income is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Dupree TN Tax-Free Income 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 TN Tax-Free Income has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $48 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.
TNTIX 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 TN Tax-Free Income expense ratio is above average compared to funds in the Muni Single State Interm category. Dupree TN Tax-Free Income has an expense ratio of 0.77%, which is 8% 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. Dupree TN Tax-Free Income has a portfolio turnover rate of 24%, 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, Dupree TN Tax-Free Income returned -2.5%, which earned it a grade of F, 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.
Dupree TN Tax-Free Income has a trailing yield of 3.09%, which is above 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.
Dupree TN Tax-Free Income Grades
Year to date, the fund has returned 0.2%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 6.5% over the past year (grade of A), 2.3% over the past three years (grade of D) and 0.3% per year over the past five years (grade of C) and 1.3% per year over the past 10 years (grade of C).
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TNTIX 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 |
|
| TNTIX Return (NAV) | -2.5% | -1.2% | 6.5% | 2.3% | 0.3% | 1.3% |
| TNTIX Grade | F | F | A | D | C | C |
| +/- Category | -0.8% | -0.6% | 1.5% | -0.3% | 0.1% | 0.1% |
| Muni Single State Interm Avg | -1.7% | -0.6% | 5.0% | 2.6% | 0.2% | 1.3% |
| TNTIX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
TNTIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TNTIX Return (NAV) | 0.2% | 3.8% | 0.5% | 4.5% | -7.1% | 1.1% | 4.0% | 5.9% | 0.3% | 4.0% | 0.2% |
| TNTIX Grade | C | D | D | C | B | A | D | C | F | B | B |
| +/- Category | -0.1% | -0.3% | -0.4% | 0.1% | 0.7% | 0.6% | -0.2% | 0.2% | -0.6% | 0.5% | 0.1% |
| 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: | 6.0% |
| Total Risk Index: | 0.49 - Below Average |
| Category Risk Index: | 1.19 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | 1.02 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $48 Mil |
| Fund Total Assets: | $ 48 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 24% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 26.6 years | |||
| Average Tenure: 26.6 years | |||
| Managers (Year): Harrison Vincent (1999) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 77 |
| % in Top 10 Holdings: | 27.6% |
| 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: | 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: | December 15, 1993 |
| 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 (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.84% |
| Share Class: | Dupree TN Tax-Free Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
