CFNLX

About CFNLX

Commerce National Tax-Free Intermediate Bond Fund is an open‑end municipal bond mutual fund focused on generating current income that is exempt from federal income tax while preserving capital. The fund primarily invests in a diversified portfolio of investment‑grade municipal securities issued by U.S. states, territories, the District of Columbia, and related authorities and subdivisions, targeting the intermediate segment of the maturity spectrum to balance income and interest‑rate sensitivity. Managed by a seasoned fixed income team, it emphasizes credit quality and duration management, with recent statistics indicating an effective duration near the intermediate range and a portfolio largely allocated to bonds with a small cash position. Established in 1995, the fund serves investors seeking tax‑efficient income, including those in higher federal tax brackets, and can play a role as a core municipal holding within diversified fixed income allocations. Its performance is typically evaluated against intermediate municipal benchmarks, reflecting sector exposures such as essential services and revenue bonds that influence relative returns over interest‑rate cycles.