Waddell & Reed Advisor Municipal High-Income Fund

Scorecard
3 / 5 Stars
Lipper
3 3 3 2 4
Zacks Investment Research
4 (Sell)
Standard & Poor's
3 / 5 Stars
TheStreet.com
B+ (Buy)

#25 in High Yield Muni

U.S. News evaluated 43 High Yield Muni Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

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Performance

The fund has returned 5.92 percent over the past year, 6.59 percent over the past three years, 8.17 percent over the past five years, and 5.43 percent over the past decade.

Trailing Returns Updated 06.30.2014
Year to date 7.6%
1 Year 5.9%
3 Years (Annualized) 6.6%
5 Years (Annualized) 8.2%
10 Years (Annualized) 5.4%

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Summary

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 invests substantially in municipal bonds with remaining maturities of 10 to 30 years. The fund 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

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.

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Risk

Risk is Below Average compared to funds in the same category according to Morningstar.

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