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Counterpoint Tactical Municipal Fund Class A TMNAX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | TMNAX | Replication |
|---|---|---|
| Annualized growth | 1.3% | 1.2% |
| Annualized volatility | 3.9% | 3.4% |
| Sharpe ratio | 0.34 | 0.36 |
| Maximum drawdown | 5.0% | 9.8% |
| Replication fit (R²) | 0.39 · Tracking error 3.1% | |
Replication portfolio
The published portfolio below is the investable basket used to model TMNAX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| VCSH | FI · Short Corp | 50.2% |
| MUB | FI · Municipal | 42.9% |
| BNDX | FI · International | 6.9% |