3 / 5 Stars
4 4 2 2 4
Zacks Investment Research
Standard & Poor's
4 / 5 Stars
#5 in High Yield Muni
U.S. News evaluated 40 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 -3.07 percent over the past year, 3.77 percent over the past three years, 8.06 percent over the past five years, and 5.02 percent over the past decade.
|Trailing Returns||Updated 10.31.2013|
|Year to date||-3.6%|
|3 Years (Annualized)||3.8%|
|5 Years (Annualized)||8.1%|
|10 Years (Annualized)||5.0%|
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.