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5 / 5 Stars
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Lipper
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Zacks Investment Research
3
(Hold)
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Standard & Poor's
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TheStreet.com
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U.S. News evaluated 58 Muni National Long Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
Performance
The fund has returned 7.97 percent over the past year, 8.49 percent over the past three years, and 7.97 percent over the past five years.
| Trailing Returns | Updated 04.30.2013 |
|---|---|
| Year to date | 2.1% |
| 1 Year | 8.0% |
| 3 Years (Annualized) | 8.5% |
| 5 Years (Annualized) | 8.0% |
| 10 Years (Annualized) | N/A |
Summary
The investment seeks attractive total return; and also seeks to provide high current income exempt from regular federal income taxes. The fund invests in various types of municipal securities, including investment grade (rated BBB/Baa or better), below investment grade (rated BB/Ba or lower), and unrated municipal securities. It may invest up to 50% of its net assets in below investment grade municipal bonds, but will normally invest 10-30% of its net assets in such bonds. Such securities are commonly referred to as "high yield" securities or junk bonds. The fund may invest up to 5% of its net assets in defaulted bonds. It is non-diversified.
