Delaware Investments MN Muni Fund II, (Delaware Investments MN Muni Fund II,) Return-on-Tangible-Asset : 2.87% (As of Sep. 2021)

Delaware Investments MN Muni Fund II, Return-on-Tangible-Asset Chart

Delaware Investments MN Muni Fund II, Annual Data
	Trend	Mar12	Mar13	Mar14	Mar15	Mar16	Mar17	Mar18	Mar19	Mar20	Mar21
Return-on-Tangible-Asset		Get a 7-Day Free Trial					-0.21	1.88	3.11	1.49	4.78

Delaware Investments MN Muni Fund II, Semi-Annual Data
	Mar12	Sep12	Mar13	Sep13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21
Return-on-Tangible-Asset	Get a 7-Day Free Trial															6.41	-3.53	6.32	3.23	2.87

Competitive Comparison of Delaware Investments MN Muni Fund II,'s Return-on-Tangible-Asset

For the Asset Management subindustry, Delaware Investments MN Muni Fund II,'s Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Delaware Investments MN Muni Fund II,'s Return-on-Tangible-Asset Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Delaware Investments MN Muni Fund II,'s Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Delaware Investments MN Muni Fund II,'s Return-on-Tangible-Asset falls into.

Delaware Investments MN Muni Fund II, Return-on-Tangible-Asset Calculation

Delaware Investments MN Muni Fund II,'s annualized Return-on-Tangible-Asset for the fiscal year that ended in Mar. 2021 is calculated as:

Delaware Investments MN Muni Fund II,'s annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2021 is calculated as:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is two times the semi-annual (Sep. 2021) net income data.

Delaware Investments MN Muni Fund II,  (AMEX:VMM) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.

Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.

Delaware Investments MN Muni Fund II, Return-on-Tangible-Asset Related Terms

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Delaware Investments MN Muni Fund II, (Delaware Investments MN Muni Fund II,) Business Description