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 09/01/2015  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.68% 4.60%
w/ sales charge 4.58% 4.50%

30-Day Standardized Yield 2 as of 07/31/2015  

Subsidized3 Un-Subsidized4
4.64% 4.58%

Fund Basicsas of 07/31/2015

Total Net Assets
$1.95 B
Inception Date
12/30/2004
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
527

Expense Ratioas of 07/31/2015

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 0.49% 2.99% 3.62% 4.76% 2.35% 2.86%
Lipper Category Avg. High Yield Municipal Debt Funds - - - - - -
Barclays High Yield Municipal Bond Index -2.05% -0.07% 3.28% 5.63% 4.48% -
w/ sales charge -1.76% 0.66% 2.85% 4.29% 2.12% 2.54%

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 0.39% 4.87% 4.54% 5.47% 2.50% 2.90%
Lipper Category Avg. High Yield Municipal Debt Funds 0.42% 4.98% 4.32% 5.93% 3.77% -
Barclays High Yield Municipal Bond Index -1.92% 3.84% 4.36% 6.47% 4.62% -
w/ sales charge -1.86% 2.47% 3.75% 5.00% 2.26% 2.58%

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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