3 / 5 Stars
3 3 3 2 4
Zacks Investment Research
Standard & Poor's
3 / 5 Stars
#11 in High Yield Muni
U.S. News evaluated 41 High Yield Muni Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
The fund has returned -2.46 percent over the past year, 6.50 percent over the past three years, 8.85 percent over the past five years, and 4.93 percent over the past decade.
|Trailing Returns||Updated 01.31.2014|
|Year to date||2.2%|
|3 Years (Annualized)||6.5%|
|5 Years (Annualized)||8.8%|
|10 Years (Annualized)||4.9%|
The investment seeks a high level of income that is not subject to Federal income tax. The fund seeks to achieve its objective by investing, during normal circumstances, at least 80% of its net assets in a diversified portfolio of tax-exempt municipal bonds. It typically invests in medium- and lower-quality bonds that include bonds rated BBB+ or lower. The fund invests substantially in municipal bonds with remaining maturities of 10 to 30 years. It primarily invests in revenue bonds: revenue bonds are payable only from specific sources, such as the revenue from a particular project, a special tax, lease payments and/or appropriated funds.
Fees are Above Average compared to funds in the same category.
Waddell & Reed Advisor Municipal High-Income Fund has an expense ratio of 0.89 percent.
Risk is Below Average compared to funds in the same category according to Morningstar.