What is the High Yield Municipal Bond Fund ?

The Fund seeks to deliver a high level of income exempt from federal income tax by investing primarily in lower-rated municipal bonds.

Yield

Dividend Yield 1 as of 05/26/2015  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.50% 4.42%
w/ sales charge 4.40% 4.32%

30-Day Standardized Yield 2 as of 04/30/2015  

Subsidized3 Un-Subsidized4
4.39% 4.34%

Fund Basicsas of 04/30/2015

Total Net Assets
$2.09 B
Inception Date
12/30/2004
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
543

Expense Ratioas of 04/30/2015

Fund Expense Ratio :

Gross 0.91%

Net 0.82%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 1.51% 8.46% 5.42% 5.68% 2.81% 3.06%
Lipper Category Avg. High Yield Municipal Debt Funds 1.22% 8.14% 5.19% 6.24% 4.04% -
Barclays High Yield Municipal Bond Index 0.70% 7.01% 5.90% 7.35% 5.14% -
w/ sales charge -0.77% 6.03% 4.61% 5.20% 2.58% 2.73%

Fund Expense Ratio :

Gross 0.91%

Net 0.82%

Fund Expense Ratio :

Gross 0.91%

Net 0.82%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 1.56% 10.42% 6.08% 6.02% 2.97% 3.09%
Lipper Category Avg. High Yield Municipal Debt Funds 1.55% 10.22% 5.85% 6.66% 4.22% -
Barclays High Yield Municipal Bond Index 1.11% 8.69% 6.83% 7.77% 5.39% -
w/ sales charge -0.72% 7.92% 5.29% 5.54% 2.74% 2.75%

Fund Expense Ratio :

Gross 0.91%

Net 0.82%

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

28 Years of Industry Experience

Supported By 12 Investment Professionals and 10 Years Avg. Industry Experience

Fund Performance Details next tab

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