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 02/05/2016  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.82% 4.74%
w/ sales charge 4.71% 4.63%

30-Day Standardized Yield 2 as of 01/31/2016  

 
4.53%

Fund Basicsas of 12/31/2015

Total Net Assets
$1.99 B
Inception Date
12/30/2004
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
515

Expense Ratioas of 01/31/2016

Fund Expense Ratio :

Gross 0.87%

Net 0.82%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 0.83% 2.66% 3.22% 6.94% 2.74% 3.12%
Lipper Category Avg. High Yield Municipal Debt Funds 0.90% 3.23% 3.88% 7.60% 4.06% -
Barclays High Yield Municipal Bond Index 0.57% 0.59% 2.88% 7.52% 4.79% -
w/ sales charge -1.45% 0.39% 2.45% 6.45% 2.51% 2.81%

Fund Expense Ratio :

Gross 0.87%

Net 0.82%

Fund Expense Ratio :

Gross 0.87%

Net 0.82%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 3.66% 3.66% 3.35% 6.37% 2.70% 3.06%
Lipper Category Avg. High Yield Municipal Debt Funds 4.28% 4.29% 3.85% 7.03% 3.99% -
Barclays High Yield Municipal Bond Index 1.81% 1.81% 3.08% 7.17% 4.80% -
w/ sales charge 1.34% 1.34% 2.57% 5.89% 2.47% 2.75%

Fund Expense Ratio :

Gross 0.87%

Net 0.82%

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

29 Years of Industry Experience

Supported By 14 Investment Professionals and 11 Years Avg. Industry Experience

Fund Performance Details next tab

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