Fund Evaluator:
WesMark WV Municipal Bond (WMKMX)
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Best Performing in Muni Single State Interm Over the Last Year
| 5.6% | Victory VA Bond (USVAX) |
| 5.1% | Dupree AL Tax-Free Income (DUALX) |
| 4.6% | Dupree TN Tax-Free Income (TNTIX) |
| 4.3% | Dupree KY Tax-Free Income (KYTFX) |
| 4.2% | Brown Advisory Maryland Bond Inv (BIAMX) |
Fund Details
WesMark WV Municipal Bond Overview
WesMark WV Municipal Bond (WMKMX) is an actively managed Municipal Bond Muni Single State Interm fund. WesMark launched the fund in 1997.
The investment seeks to achieve current income which is exempt from federal income tax and the income taxes imposed by the State of West Virginia. The fund pursues its investment objective by investing at least 80% of its net assets in a professionally managed portfolio consisting primarily of investment-grade securities issued by the State of West Virginia and its political subdivisions, agencies and authorities, and other issuers (such as possessions or territories of the United States), the interest of which is exempt from federal income tax, federal alternative minimum tax (AMT), and West Virginia income tax. It is non-diversified.
About WesMark WV Municipal Bond (WMKMX)
There are 1 members of the management team with an average tenure of 19.98 years: Steven Kellas (2006). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Municipal 5 Yr 4-6 TR USD index with a weighting of 100% and Lipper Interm Muni Debt Fund index with a weighting of 100%. WesMark WV Municipal Bond has 118 securities in its portfolio. The top 10 holdings constitute 21.4% 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.
WesMark WV Municipal Bond is part of the Fixed Income global asset class and is within the Municipal Bond fund group. WesMark WV 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 95.6% (95.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). WesMark WV Municipal Bond has 4.4% of the portfolio in cash.
Assets Under Management
The fund has $85 million in total assets, which is above the $84 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.
WMKMX 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 WesMark WV Municipal Bond expense ratio is high compared to funds in the Muni Single State Interm category. WesMark WV Municipal Bond has an expense ratio of 1.16%, which is 39% higher than its category average, making the fund expense ratio grade a F. 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. WesMark WV Municipal Bond has a portfolio turnover rate of 23%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Muni Single State Interm category.
Recently, in the month of August 2026, WesMark WV Municipal Bond returned -0.3%, which earned it a grade of C, as the Muni Single State Interm category had an average return of -0.3%. 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.
WesMark WV Municipal Bond has a trailing yield of 2.46%, which is below the 3.02% 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.
WesMark WV Municipal Bond Grades
Year to date, the fund has returned -1.2%, 1.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.5% over the past year (grade of D), 2.9% over the past three years (grade of C) and 0.0% per year over the past five years (grade of D) and 1.0% per year over the past 10 years (grade of D).
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WMKMX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WMKMX Return (NAV) | -0.3% | -2.1% | 3.5% | 2.9% | 0.0% | 1.0% |
| WMKMX Grade | C | F | D | C | D | D |
| +/- Category | -0.0% | -0.8% | -0.4% | -0.1% | -0.2% | -0.2% |
| Muni Single State Interm Avg | -0.3% | -1.3% | 3.9% | 2.9% | 0.2% | 1.2% |
| WMKMX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
WMKMX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WMKMX Return (NAV) | -1.2% | 5.5% | -0.0% | 4.3% | -7.8% | 0.4% | 3.5% | 4.8% | 0.5% | 3.9% | 0.1% |
| WMKMX Grade | F | A | F | C | C | C | F | F | D | B | C |
| +/- Category | -1.2% | 1.4% | -0.9% | -0.2% | -0.1% | -0.1% | -0.7% | -0.9% | -0.4% | 0.4% | -0.0% |
| Muni Single State Interm Avg | 0.0% | 4.0% | 0.9% | 4.5% | -7.7% | 0.5% | 4.2% | 5.7% | 0.8% | 3.5% | 0.1% |
| Risk Measures | |
| Standard Deviation: | 6.7% |
| Total Risk Index: | 0.55 - Below Average |
| Category Risk Index: | 1.35 - High |
| Category Risk Grade: | F (98% Rank) |
| Beta: | 1.17 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 2.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $85 Mil |
| Fund Total Assets: | $ 86 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 23% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 20.0 years | |||
| Average Tenure: 20.0 years | |||
| Managers (Year): Kellas Steven (2006) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 118 |
| % in Top 10 Holdings: | 21.4% |
| 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: | 95.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.4% |
Purchase Information
| Fund Family: | WesMark |
| Phone Number: | 800-864-1013 |
| Website: | www.wesmarkfunds.com |
| Status: | Open |
| Inception Date: | April 14, 1997 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 500 |
| 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 (%): | 1.16% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.84% |
| Share Class: | WesMark WV Municipal Bond |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
