Aquila Churchill Tax-Free Fund of Kentucky
SELECT SHARE CLASS
(Y and I shares available only through financial professionals)
Objective
Aquila Churchill Tax-Free Fund of Kentucky is a municipal bond mutual fund designed especially for Kentucky residents. The Fund seeks to provide as high a level of current income exempt from Kentucky state and regular federal income taxes as is consistent with preservation of capital by investing in municipal obligations which pay interest exempt from state and regular federal income taxes. To achieve this objective, the Fund will invest primarily in tax-free municipal obligations of investment grade quality – the kind of securities that finance schools, highways, utilities, airports, hospitals, and water and sewer facilities in Kentucky. These obligations can be of any maturity, but the Fund’s weighted average maturity has traditionally been between 5 and 15 years. Aquila Churchill Tax-Free Fund of Kentucky does not hold Puerto Rico bonds.
Overview
Investor Profile
Kentucky taxpayers who can benefit from income that is exempt from federal, and state income taxes. For certain investors, some dividends may be subject to federal and state taxes, including Alternative Minimum Tax (AMT). Please consult your professional tax advisor. The Fund is not appropriate for tax-deferred retirement plans, such as IRAs.
How to Invest
You may invest in any of the Aquila Group of Funds through your professional financial advisor at the public offering price as described in the prospectus, or by completing the Fund’s application. The Fund offers both Front-Payment Class Shares (Class A Shares) or Level-Payment Class Shares (Class C Shares). The maximum sales charge included in the offering price of Class A Shares varies by fund. Please see the prospectus for details, or fund-specific information on this site. Class C Shares do not have a sales charge, but do have a contingent deferred sales charge (CDSC) of 1% if a redemption occurs within the first 12 months of purchase. Class F, Class I, Class T and Class Y shares are available to investors only through a professional financial advisor or a financial institution. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial professional, or by calling 800-437-1020.
How to Redeem
You may redeem all or part of your investment on any business day at the next-determined Net Asset Value of the Fund’s shares after acceptance of your redemption request. You should be aware that investment returns and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. The prospectus outlines a number of different ways you may redeem your shares. A 1% contingent deferred sales charge (CDSC) applies to Class C Shares redeemed within the first 12 months of purchase.
Board of Trustees
-
Patricia L. Moss, Chair – Vice Chairman, Cascade Bancorp and Bank of the Cascades 2012-2017, President and Chief Executive Officer 1997-2012; member, Oregon Investment Council since 2018; active in community and educational organizations; Trustee of various funds in the Aquila Group of Funds 2002-2005 and since 2015. Other Directorships held by Trustee – First Interstate BancSystem, Inc.; MDU Resources Group, Inc. Trustee of The Cascades Trust (Predecessor Fund of Aquila Tax-Free Trust of Oregon) 2015-2020, 2002-2005; Trustee Emerita 2005-2015.
-
Diana P. Herrmann, President – Chair (since 2016 and previously Vice Chair since 2004) and Chief Executive Officer (since 2004) of Aquila Management Corporation, Founder and Sponsor of the Aquila Group of Funds and parent of Aquila Investment Management LLC, Manager, President since 1997, Chief Operating Officer, 1997-2008, a Director since 1984, Secretary, 1986-2016, and previously its Executive Vice President, Senior Vice President or Vice President, 1986-1997; Chief Executive Officer (since 2004) and Chair (since 2016 and previously Vice Chair since 2004), President and Manager since 2003, and Chief Operating Officer (2003-2008), of the Manager; Chair, Vice Chair, President, Executive Vice President and/or Senior Vice President of funds in the Aquila Group of Funds since 1986; Manager of the Distributor since 1997; Governor, Investment Company Institute (the U.S. mutual fund industry trade organization dedicated to protecting shareholder interests and educating the public about investing) for various periods since 2004, and Chair of its Small Funds Committee, 2004-2009; active in charitable and volunteer organizations. Other Directorships held by Trustee – Director of ICI Mutual Insurance Company, a Risk Retention Group for various periods since 2006; formerly Vice Chair and Trustee of Pacific Capital Funds of Cash Assets Trust (three money-market funds in the Aquila Group of Funds) 2004-2012. Vice Chair Board of Trustees (2003-2020), President (1998-2020) and Trustee (1994-2020) of The Cascades Trust (Predecessor Fund of Aquila Tax-Free Trust of Oregon).
-
Ernest Calderon– Attorney (currently, Partner, CalderĂłn Law Offices, PLC); Regent emeritus and President emeritus Arizona Board of Regents; Adjunct Professor, Northern Arizona University; Doctor of Education in Organizational Change and Educational Leadership, University of Southern California; served six Arizona governors by appointment; Past President, Grand Canyon Council of Boy Scouts of America; Past President, State Bar of Arizona, 2003-2004; member, American Law Institute; Trustee of various funds in the Aquila Group of Funds since 2004.
-
Gary C. Cornia – Emeritus Dean and Professor, Marriott School of Management, Brigham Young University 2014-present; Professor, Marriott School of Management, Brigham Young University, 1980-2014; Chair, Utah State Securities Commission, 2019-2021; Commissioner, 2013–2021; Dean, Marriott School of Management, 2008-2013; Past President, National Tax Association; Fellow, Lincoln Institute of Land Policy, 2002-present; Trustee of various funds in the Aquila Group of Funds since 1993. Other Directorships held by Trustee – International Center for Land Policies and Training, Taipei, Taiwan, Director and Chair of Executive Committee. Trustee of The Cascades Trust (Predecessor Fund of Aquila Tax-Free Trust of Oregon) 2002-2020.
-
Grady Gammage, Jr.– Founding partner, Gammage & Burnham, PLC, a law firm, Phoenix, Arizona, since 1983; director, Central Arizona Water Conservation District, 1992-2004; Senior Fellow, Morrison Institute for Public Policy and Kyl Institute for Water Policy; Adjunct Professor, Sandra Day O’Connor College of Law; W. P. Carey School of Business; active with Urban Land Institute; Author, “The Future of the Suburban City” Island Press, 2016; Trustee of various funds in the Aquila Group of Funds since 2001.
-
Glenn P. O’Flaherty – Chief Financial Officer and Chief Operating Officer of Lizard Investors, LLC, 2008; Co-Founder, Chief Financial Officer and Chief Compliance Officer of Three Peaks Capital Management, LLC, 2003-2005; Vice President – Investment Accounting, Global Trading and Trade Operations, Janus Capital Corporation, and Chief Financial Officer and Treasurer, Janus Funds, 1991-2002; Trustee of various funds in the Aquila Group of Funds since 2006. Other Directorships held by Trustee – Granby Ranch Metropolitan District (quasi-municipal corporation); formerly Trustee of Pacific Capital Funds of Cash Assets Trust (three money-market funds in the Aquila Group of Funds) 2009-2012.
-
Heather R. Overby – Vice President, Finance & Accounting/Chief Financial Officer, Kentucky Municipal Energy Agency (wholesale electricity sale – governmental), June 2018 – Present; Chairman, Kentucky School Facilities Construction Commission (state commission), December 2018 – Present; Chief Financial Officer, Kentucky Municipal Power Agency, (wholesale electricity sale – governmental), November 2009 – May 2018.
-
Laureen L. White – President, Greater Providence Chamber of Commerce, since 2005, Executive Vice President 2004-2005 and Senior Vice President, 1989-2002; Executive Counselor to the Governor of Rhode Island for Policy and Communications, 2003-2004; Trustee of various funds in the Aquila Group of Funds since 2005.
Nominating Committee charter
Qualified for Sale in:
Fund-Specific Risks
Consideration should be given to the risks of investing. Investments in bonds involve certain risks including a decline in value due to rising interest rates, a real or perceived decline in credit quality of the issuer, borrower, counterparty, or collateral, adverse tax or legislative changes, court decisions, market or economic conditions. Fund performance could be more volatile than that of funds with greater geographic diversification. For certain investors, some dividends may be subject to Federal and state taxes, including Alternative Minimum Tax (AMT). Please consult your professional tax advisor.
Disclosures
Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020.
Performance
NAV As of 04/26/24 $9.87 $9.87$9.86$9.87$N/A$9.87
TOTAL RETURNS as of 03/31/24as of 03/31/24
Monthly Quarterly| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 1.90 |
| 3-year | -0.80 |
| 5-year | 0.94 |
| 10-year | 1.85 |
| Since Inception | 4.52 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1-year | -1.15 |
| 3-year | -1.81 |
| 5-year | 0.12 |
| 10-year | 1.44 |
| Since Inception | 4.41 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.20 |
| 3 Month | -0.31 |
| YTD | -0.31 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1 Month | -3.20 |
| 3 Month | -3.29 |
| YTD | -3.29 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHTFX (At maximum offering price) | -3.20 | -3.29 | -3.29 | -1.15 | -1.81 | 0.12 | 1.44 | 4.41 |
| CHTFX (At NAV) | -0.20 | -0.31 | -0.31 | 1.90 | -0.80 | 0.94 | 1.85 | 4.52 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 1.90 |
| 3-year | -0.80 |
| 5-year | 0.94 |
| 10-year | 1.85 |
| Since Inception | 4.52 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1-year | -1.15 |
| 3-year | -1.81 |
| 5-year | 0.12 |
| 10-year | 1.44 |
| Since Inception | 4.41 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.20 |
| 3 Month | -0.31 |
| YTD | -0.31 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1 Month | -3.20 |
| 3 Month | -3.29 |
| YTD | -3.29 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHTFX (At maximum offering price) | -3.20 | -3.29 | -3.29 | -1.15 | -1.81 | 0.12 | 1.44 | 4.41 |
| CHTFX (At NAV) | -0.20 | -0.31 | -0.31 | 1.90 | -0.80 | 0.94 | 1.85 | 4.52 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky without CDSC |
|---|---|
| 1-year | 0.04 |
| 3-year | -1.64 |
| 5-year | 0.08 |
| 10-year | 1.00 |
| Since Inception | 2.68 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky with CDSC |
|---|---|
| 1-year | 1.04 |
| 3-year | -1.64 |
| 5-year | 0.08 |
| 10-year | 1.00 |
| Since Inception | 2.68 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky without CDSC |
|---|---|
| 1 Month | -1.17 |
| 3 Month | -1.51 |
| YTD | 0.04 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky with CDSC |
|---|---|
| 1 Month | -0.17 |
| 3 Month | -0.52 |
| YTD | -0.52 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKCX (With CDSC) | -1.17 | -1.51 | -1.51 | 0.04 | -1.64 | 0.08 | 1.00 | 2.68 |
| CHKCX (Without CDSC) | -0.17 | -0.52 | -0.52 | 1.04 | -1.64 | 0.08 | 1.00 | 2.68 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky without CDSC |
|---|---|
| 1-year | 0.04 |
| 3-year | -1.64 |
| 5-year | 0.08 |
| 10-year | 1.00 |
| Since Inception | 2.68 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky with CDSC |
|---|---|
| 1-year | 1.04 |
| 3-year | -1.64 |
| 5-year | 0.08 |
| 10-year | 1.00 |
| Since Inception | 2.68 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky with CDSC |
|---|---|
| 1 Month | -1.17 |
| 3 Month | -1.51 |
| YTD | -1.51 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky without CDSC |
|---|---|
| 1 Month | -0.17 |
| 3 Month | -0.52 |
| YTD | -0.52 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKCX (With CDSC) | -1.17 | -1.51 | -1.51 | 0.04 | -1.64 | 0.08 | 1.00 | 2.68 |
| CHKCX (Without CDSC) | -0.17 | -0.52 | -0.52 | 1.04 | -1.64 | 0.08 | 1.00 | 2.68 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 2.16 |
| 3-year | -0.62 |
| 5-year | 1.09 |
| 10-year | 2.01 |
| Since Inception | 3.71 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.09 |
| 3 Month | -0.17 |
| YTD | -0.17 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKYX | -0.09 | -0.17 | -0.17 | 2.16 | -0.62 | 1.09 | 2.01 | 3.71 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 2.16 |
| 3-year | -0.62 |
| 5-year | 1.09 |
| 10-year | 2.01 |
| Since Inception | 3.71 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.09 |
| 3 Month | -0.17 |
| YTD | -0.17 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKYX | -0.09 | -0.17 | -0.17 | 2.16 | -0.62 | 1.09 | 2.01 | 3.71 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 1.85 |
| 3-year | -0.92 |
| 5-year | 0.79 |
| 10-year | 1.71 |
| Since Inception | 2.99 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.11 |
| 3 Month | -0.25 |
| YTD | -0.25 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKIX | -0.11 | -0.25 | -0.25 | 1.85 | -0.92 | 0.79 | 1.71 | 2.99 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 1.85 |
| 3-year | -0.92 |
| 5-year | 0.79 |
| 10-year | 1.71 |
| Since Inception | 2.99 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.11 |
| 3 Month | -0.25 |
| YTD | -0.25 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKIX | -0.11 | -0.25 | -0.25 | 1.85 | -0.92 | 0.79 | 1.71 | 2.99 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | 2.08 |
| 3-year | N/A |
| 5-year | N/A |
| 10-year | N/A |
| Since Inception | 3.13 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.08 |
| 3 Month | -0.17 |
| YTD | -0.17 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKFX (At NAV) | -0.08 | -0.17 | -0.17 | 2.08 | N/A | N/A | N/A | 3.13 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | |
| 3-year | N/A |
| 5-year | N/A |
| 10-year | N/A |
| Since Inception | 3.13 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | -0.08 |
| 3 Month | -0.17 |
| YTD | -0.17 |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKFX (At NAV) | -0.08 | -0.17 | -0.17 | 2.08 | N/A | N/A | N/A | 3.13 |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | N/A |
| 3-year | N/A |
| 5-year | N/A |
| 10-year | N/A |
| Since Inception | N/A |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1-year | N/A |
| 3-year | N/A |
| 5-year | N/A |
| 10-year | N/A |
| Since Inception | N/A |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | |
| 3 Month | |
| YTD |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1 Month | |
| 3 Month | |
| YTD |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKTX (At maximum offering price) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| CHKTX (At NAV) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1-year | N/A |
| 3-year | N/A |
| 5-year | N/A |
| 10-year | N/A |
| Since Inception | N/A |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1-year | N/A |
| 3-year | N/A |
| 5-year | N/A |
| 10-year | N/A |
| Since Inception | N/A |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at NAV |
|---|---|
| 1 Month | |
| 3 Month | |
| YTD |
| Aquila Churchill Tax-Free Fund of Kentucky | Aquila Churchill Tax-Free Fund of Kentucky at MOP |
|---|---|
| 1 Month | |
| 3 Month | |
| YTD |
| Fund Symbol | Cumulative | Average Annualized | ||||||
|---|---|---|---|---|---|---|---|---|
| 1-month | 3-month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | |
| CHKTX (At maximum offering price) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| CHKTX (At NAV) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Disclosures
Performance data represents past performance, but does not guarantee future results. Investment return and principal value will fluctuate; shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the data presented. Class A shares have a maximum sales charge of 3.00%; Class C shares have no initial sales charge, but a 1.00% contingent deferred sales charge applies to Class C shares redeemed within 12 months of their purchase date. Class Y shares have no initial or contingent deferred sales charge. Class A MOP (maximum offering price) returns reflect deduction of the maximum 3.00% sales charge; Class A NAV returns do not reflect deduction of the sales charge and would be lower if that charge were reflected. Class C returns without CDSC do not reflect deduction of the 1% CDSC applicable in the first 12 months; if applied, the CDSC would reduce the performance quoted.
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. Lipper category is as of the quarter-end date indicated and may not accurately represent the current composition of the portfolio.
Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020.
Distributions
| Fund Symbol | Distribution Yield | SEC Yield | |
|---|---|---|---|
| at NAV | at Maximum offering price | at Maximum offering price | |
| CHTFX | 2.42 | 2.35 | 3.16 |
For the latest 30-day SEC yield, call 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. ET on any business day.
Tax-Equivalent Yield Annual Tax InformationDividend History
- Class A 2024
- Class A 2023
- Class A 2022
- Class A 2021
- Class A 2020
- Class A 2019
- Class A 2018
- Class A 2017
- Class A 2016
- Class A 2015
- Class A 2014
- Class A 2013
- Class A 2012
- Class A 2011
- Class A 2010
- Class A 2009
- Class A 2008
- Class A 2007
- Class A 2006
- Class A 2005
- Class A 2004
- Class A 2003
- Class A 2002
- Class A 2001
- Class A 2000
Dividend Schedule as of 2023
| Dividend Cut-Off Date | # of Days Covered by Dividend |
|---|---|
| January 31 | 31 |
| February 28 | 28 |
| March 31 | 31 |
| April 30 | 30 |
| May 31 | 31 |
| June 30 | 30 |
| July 31 | 31 |
| August 31 | 31 |
| September 30 | 30 |
| October 31 | 31 |
| November 30 | 30 |
| December 31 | 31 |
Disclosures
Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund’s yield, calculated as required by the SEC, based on the earnings of the fund’s portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it may not equal the fund’s actual income distribution rate. The fund’s Distribution Rate is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund’s annualized dividend amount by its current offering price. Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020. Dividends for all bond funds (tax-free municipal and corporate) in the Aquila Group of Funds are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds’ shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund’s shareholder servicing agent at 1-800-437-1000.
| Fund Symbol | Distribution Yield | SEC Yield |
|---|---|---|
| CHKCX | 1.57 | 2.40 |
For the latest 30-day SEC yield, call 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. ET on any business day.
Tax-Equivalent Yield Annual Tax InformationDividend History
- Class C 2024
- Class C 2023
- Class C 2022
- Class C 2021
- Class C 2020
- Class C 2019
- Class C 2018
- Class C 2017
- Class C 2016
- Class C 2015
- Class C 2014
- Class C 2013
- Class C 2012
- Class C 2011
- Class C 2010
- Class C 2009
- Class C 2008
- Class C 2007
- Class C 2006
- Class C 2005
- Class C 2004
- Class C 2003
- Class C 2002
- Class C 2001
- Class C 2000
Dividend Schedule as of 2023
| Dividend Cut-Off Date | # of Days Covered by Dividend |
|---|---|
| January 31 | 31 |
| February 28 | 28 |
| March 31 | 31 |
| April 30 | 30 |
| May 31 | 31 |
| June 30 | 30 |
| July 31 | 31 |
| August 31 | 31 |
| September 30 | 30 |
| October 31 | 31 |
| November 30 | 30 |
| December 31 | 31 |
Disclosures
Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund’s yield, calculated as required by the SEC, based on the earnings of the fund’s portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it may not equal the fund’s actual income distribution rate. The fund’s Distribution Rate is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund’s annualized dividend amount by its current offering price. Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020. Dividends for all bond funds (tax-free municipal and corporate) in the Aquila Group of Funds are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds’ shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund’s shareholder servicing agent at 1-800-437-1000.
| Fund Symbol | Distribution Yield | SEC Yield |
|---|---|---|
| CHKYX | 2.58 | 3.43 |
For the latest 30-day SEC yield, call 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. ET on any business day.
Tax-Equivalent Yield Annual Tax InformationDividend History
- Class Y 2024
- Class Y 2023
- Class Y 2022
- Class Y 2021
- Class Y 2020
- Class Y 2019
- Class Y 2018
- Class Y 2017
- Class Y 2016
- Class Y 2015
- Class Y 2014
- Class Y 2013
- Class Y 2012
- Class Y 2011
- Class Y 2010
- Class Y 2009
- Class Y 2008
- Class Y 2007
- Class Y 2006
- Class Y 2005
- Class Y 2004
- Class Y 2003
- Class Y 2002
- Class Y 2001
- Class Y 2000
Dividend Schedule as of 2023
| Dividend Cut-Off Date | # of Days Covered by Dividend |
|---|---|
| January 31 | 31 |
| February 28 | 28 |
| March 31 | 31 |
| April 30 | 30 |
| May 31 | 31 |
| June 30 | 30 |
| July 31 | 31 |
| August 31 | 31 |
| September 30 | 30 |
| October 31 | 31 |
| November 30 | 30 |
| December 31 | 31 |
Disclosures
Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund’s yield, calculated as required by the SEC, based on the earnings of the fund’s portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it may not equal the fund’s actual income distribution rate. The fund’s Distribution Rate is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund’s annualized dividend amount by its current offering price. Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020. Dividends for all bond funds (tax-free municipal and corporate) in the Aquila Group of Funds are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds’ shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund’s shareholder servicing agent at 1-800-437-1000.
| Fund Symbol | Distribution Yield | SEC Yield |
|---|---|---|
| CHKIX | 2.27 | 3.09 |
For the latest 30-day SEC yield, call 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. ET on any business day.
Tax-Equivalent Yield Annual Tax InformationDividend History
- Class I 2024
- Class I 2023
- Class I 2022
- Class I 2021
- Class I 2020
- Class I 2019
- Class I 2018
- Class I 2017
- Class I 2016
- Class I 2015
- Class I 2014
- Class I 2013
- Class I 2012
- Class I 2011
- Class I 2010
- Class I 2009
- Class I 2008
- Class I 2007
- Class I 2006
- Class I 2005
- Class I 2004
- Class I 2003
- Class I 2002
- Class I 2001
Dividend Schedule as of 2023
| Dividend Cut-Off Date | # of Days Covered by Dividend |
|---|---|
| January 31 | 31 |
| February 28 | 28 |
| March 31 | 31 |
| April 30 | 30 |
| May 31 | 31 |
| June 30 | 30 |
| July 31 | 31 |
| August 31 | 31 |
| September 30 | 30 |
| October 31 | 31 |
| November 30 | 30 |
| December 31 | 31 |
Disclosures
Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund’s yield, calculated as required by the SEC, based on the earnings of the fund’s portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it may not equal the fund’s actual income distribution rate. The fund’s Distribution Rate is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund’s annualized dividend amount by its current offering price. Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020. Dividends for all bond funds (tax-free municipal and corporate) in the Aquila Group of Funds are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds’ shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund’s shareholder servicing agent at 1-800-437-1000.
| Fund Symbol | Distribution Yield | SEC Yield | |
|---|---|---|---|
| at NAV | at Maximum offering price | at Maximum offering price | |
| CHKTX | N/A | N/A | N/A |
For the latest 30-day SEC yield, call 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. ET on any business day.
Tax-Equivalent Yield Annual Tax InformationDividend History
Dividend Schedule as of 2023
Disclosures
Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund’s yield, calculated as required by the SEC, based on the earnings of the fund’s portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it may not equal the fund’s actual income distribution rate. The fund’s Distribution Rate is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund’s annualized dividend amount by its current offering price. Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020. Dividends for all bond funds (tax-free municipal and corporate) in the Aquila Group of Funds are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds’ shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund’s shareholder servicing agent at 1-800-437-1000.
| Fund Symbol | Distribution Yield | SEC Yield |
|---|---|---|
| CHKFX | 2.60 | 3.40 |
For the latest 30-day SEC yield, call 1-800-437-1020 between 9:00 A.M. and 5:00 P.M. ET on any business day.
Tax-Equivalent Yield Annual Tax InformationDividend History
Dividend Schedule as of 2023
Disclosures
Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund’s yield, calculated as required by the SEC, based on the earnings of the fund’s portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund’s rate of investment income, and it may not equal the fund’s actual income distribution rate. The fund’s Distribution Rate is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund’s annualized dividend amount by its current offering price. Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1020. Dividends for all bond funds (tax-free municipal and corporate) in the Aquila Group of Funds are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds’ shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund’s shareholder servicing agent at 1-800-437-1000.
Fees & Expenses
| Annual Expenses (as of 07/27/2023) | |
|---|---|
| Total Operating Expense | 0.76% |
| Net Expense ratio | 0.76% |
Alternative Purchase Plans & Sales Charge Breakpoints
The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, I and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor’s circumstances and needs. You are entitled to substantial reductions in sales charges based on aggregate holdings of all shares of any class of any of the funds in the Aquila Group of Funds that you or other members of your immediate family already own at the time of your purchase. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial advisor, or by calling 800-437-1020.
| Front-End Sales Charge Schedule | ||
|---|---|---|
| Investment | Front-end Sales Charges | |
| Less than $50,000 | 3.00% | |
| $50,000 but less than $100,000 | 2.50% | |
| $100,000 but less than $250,000 | 2.00% | |
| $250,000 but less than $2,500,000 | 0.00% | |
| $2,500,000 and up to $5,000,000 | 0.00% | |
| $2,500,000 and up to $5,000,000 | 0.00% | |
| $5,000,000 or more | 0.00% | |
| 12b-1 Fees | 0.15% |
|---|
| Contingent Deferred Sales Charges (CDSC) | |||
|---|---|---|---|
| Investment | CDSC Rate | ||
| Year 1 | 13-18 Months | ||
| $250,000 and up to $2,500,000 | 0.75% | 0.50% | |
| $2,500,000 and up to $5,000,000 | 0.50% | 0.00% | |
| $5,000,000 or more | 0.25% | 0.00% | |
| Annual Expenses (as of 07/27/2023) | |
|---|---|
| Total Operating Expense | 1.61% |
| Net Expense ratio | 1.61% |
Alternative Purchase Plans & Sales Charge Breakpoints
The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, I and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor’s circumstances and needs. You are entitled to substantial reductions in sales charges based on aggregate holdings of all shares of any class of any of the funds in the Aquila Group of Funds that you or other members of your immediate family already own at the time of your purchase. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial advisor, or by calling 800-437-1020.
CONTINGENT DEFERRED SALES CHARGES (CDSC)
A CDSC of 1% is applied to the redemption of Class C Shares held for less than 12 months. No CDSC applies to Class C Shares acquired through the reinvestment of dividends or distributions.
| 12b-1 Fees | 1.00% |
|---|
| Annual Expenses (as of 07/27/2023) | |
|---|---|
| Total Operating Expense | 0.61% |
| Net Expense ratio | 0.61% |
Alternative Purchase Plans & Sales Charge Breakpoints
The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, I and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor’s circumstances and needs. You are entitled to substantial reductions in sales charges based on aggregate holdings of all shares of any class of any of the funds in the Aquila Group of Funds that you or other members of your immediate family already own at the time of your purchase. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial advisor, or by calling 800-437-1020.
| 12b-1 Fees | 0.00% |
|---|
| Annual Expenses (as of 07/27/2023) | |
|---|---|
| Total Operating Expense | 0.96% |
| Net Expense ratio | 0.96% |
Alternative Purchase Plans & Sales Charge Breakpoints
The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, I and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor’s circumstances and needs. You are entitled to substantial reductions in sales charges based on aggregate holdings of all shares of any class of any of the funds in the Aquila Group of Funds that you or other members of your immediate family already own at the time of your purchase. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial advisor, or by calling 800-437-1020.
| 12b-1 Fees | 0.40% |
|---|
| Annual Expenses (as of 07/27/2023) | |
|---|---|
| Total Operating Expense | 0.83% |
| Net Expense ratio | 0.83% |
Alternative Purchase Plans & Sales Charge Breakpoints
The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, I and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor’s circumstances and needs. You are entitled to substantial reductions in sales charges based on aggregate holdings of all shares of any class of any of the funds in the Aquila Group of Funds that you or other members of your immediate family already own at the time of your purchase. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial advisor, or by calling 800-437-1020.
| 12b-1 Fees | 0.25% |
|---|
| Annual Expenses (as of 07/27/2023) | |
|---|---|
| Total Operating Expense | 0.58% |
| Net Expense ratio | 0.58% |
Alternative Purchase Plans & Sales Charge Breakpoints
The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, I and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor’s circumstances and needs. You are entitled to substantial reductions in sales charges based on aggregate holdings of all shares of any class of any of the funds in the Aquila Group of Funds that you or other members of your immediate family already own at the time of your purchase. Before investing, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site and from your financial advisor, or by calling 800-437-1020.
Disclosures
Before investing in one of the Aquila Group of Funds, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site, from your financial advisor, or by calling 800-437-1020.
Portfolio Managers
-
Mr. Royden Durham, based in Louisville, KY, is the Fund’s lead portfolio manager and has served as a portfolio manager of the Fund since 2011. He also serves as a member of the portfolio management teams of Aquila Tax-Free Trust of Arizona and Aquila Tax-Free Fund For Utah. Mr. Durham has over forty years of experience in the financial services industry. He is a graduate of Heidelberg University with a B.A. in Economics and German. Most recently Mr. Durham served in a trust capacity for JP Morgan Chase. Prior to that, he was a portfolio manager for Regions Morgan Keegan Trust and the Louisville Trust Company.
-
Mr. Tony Tanner has served as a portfolio manager of the Fund and as a member of the Fund’s portfolio management team since 2018. He also serves as a member of the portfolio management teams of Aquila Tax-Free Trust of Arizona and Aquila Tax-Free Fund For Utah. Mr. Tanner is a 30-year veteran of financial services with over 20 years of buy-side industry experience managing fixed income and multi-asset class portfolios for mutual funds, institutions, and ultra-high net worth clients. He most recently served as a Senior Wealth Manager with BNY Mellon Wealth Management, working with high net worth families and institutions across Arizona. Mr. Tanner is a CFA® charterholder.