Commerce KS Tax Free Interm Bd  KTXIX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni Single State Interm Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   5.90 Yrs
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ 0.01
  
NAV (2009-11-20)
$ 19.16
  
YTD Return % (2009-11-20)
7.78%
  
Total Assets ($ mil)
77
View Data Definitions
  Performance    
Growth of $10,000 Fund: Commerce KS Tax Free Interm Bd
(from 2000-12-26 to 2009-10-31) Category: Muni Single State Interm
Index: BarCap Municipal TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 2000-12-26 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 7.78 8.76 4.49 3.85 --- 4.53
+/- Category -2.40 -2.47 1.25 0.80 --- ---
+/- BarCap Municipal TR USD -4.36 -2.91 0.24 -0.51 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 8.25 11.31 4.86 3.94 --- 4.71
Month-End (as of 2009-10-31) 6.96 10.33 4.30 3.56 --- 4.53
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 10.30 4.25 3.52 --- ---
On Distribution & Sale of Shares --- 8.03 4.17 3.55 --- ---
Morningstar Rating --- --- --- ---
# of compared funds covered (3 yrs : out of 247 funds), (5 yrs : out of 237 funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 43.69
Advance Refunded 7.93
State Appropriated Tobacco ---
Non-state Appropriated Tobacco ---
Education 13.81
Health 6.04
Housing 0.16
Industrial ---
Transportation 11.50
Utilities ---
Water/Sewer 5.15
Misc. Revenue 11.72
Bond Quality % of Bonds
AAA 24.2
AA 32.0
A 34.4
BBB 7.0
BB 0.0
B 0.0
Below B 0.0
Not Rated 2.4
 
Asset Allocation
% of Net Assets
Cash 12.7
Stocks 0.0
Bonds 87.3
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 13
Total Number of Bond Holdings 91 30 Day SEC Yield % 2.57
% of Assets in Top 10 Holdings 21.05 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Kansas St Dev Fin Auth 3.75% 2026-05-15 1,915 1,938 2.41
Johnson Cnty Kans Uni Sch Dist 5% 2018-10-01 1,770 1,937 2.41
Miami Cnty Kans Uni Sch Dist 5% 2017-09-01 1,650 1,851 2.31
Kansas St Dev Fin Auth 5% 2017-08-01 1,600 1,727 2.15
Wyandotte Cnty Kans Uni Sch Di Impt R 5% 2021-09-01 1,595 1,714 2.13
Kansas St Dev Fin Auth 6% 2027-04-01 1,500 1,657 2.06
Sedgwick Cnty Kans Uni Sch Dis Go Ref 5% 2032-11-01 1,500 1,592 1.98
Wichita Kans Hosp Rev Ref-Facs 6.75% 2014-11-15 1,500 1,549 1.93
Dodge Kans Uni Sch Dist 5% 2012-03-01 1,450 1,514 1.89
Kansas St Dev Fin Auth 4.75% 2025-06-01 1,375 1,427 1.78
Data through 2009-09-30
  Other Information
Fund Inception: 2000-12-26
Portfolio Manager  (Start Date)
Brian P. Musielak  (2000-12-26)
Musielak is a portfolio manager for Commerce Bank. He joined the investment management group of the firm in 1995 as a fixed income analyst. Prior to assuming these responsibilities, he worked in the commercial loan department as a credit analyst.
Sales Charge %
(taken from prospectus dated 2009-03-01)
Front: None
Deferred: None
Expense Ratio % 0.70
based on net assets
(taken from annual report dated 2008-10-31)
Correspondence Information
Commerce Funds
P.O. Box 16931
St. Louis,  MO  63105
United States
Telephone:
800-995-6365
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.