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DWS Intermediate Tax-Free Fund - Class A SZMAX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | SZMAX | Replication |
|---|---|---|
| Annualized growth | 0.1% | 0.5% |
| Annualized volatility | 4.3% | 4.2% |
| Sharpe ratio | 0.06 | 0.14 |
| Maximum drawdown | 11.3% | 10.3% |
| Replication fit (R²) | 0.98 · Tracking error 0.6% | |
Replication portfolio
The published portfolio below is the investable basket used to model SZMAX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 82.1% |
| STIP | FI · Short TIPS | 9.3% |
| VCSH | FI · Short Corp | 8.6% |