| Scorecard |
|---|
|
4 / 5 Stars
|
|
Lipper
5
5
3
2
5
|
|
Zacks Investment Research
2
(Buy)
|
|
Standard & Poor's
4 / 5 Stars
|
|
TheStreet.com
A
(Buy)
|
U.S. News evaluated 72 Muni Single State Interm 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 3.21 percent over the past year, 5.48 percent over the past three years, 5.36 percent over the past five years, and 4.24 percent over the past decade.
| Trailing Returns | Updated 05.31.2013 |
|---|---|
| Year to date | 0.4% |
| 1 Year | 3.2% |
| 3 Years (Annualized) | 5.5% |
| 5 Years (Annualized) | 5.4% |
| 10 Years (Annualized) | 4.2% |
Summary
The investment seeks as high a level of current income exempt from federal income tax and Michigan personal income tax as the fund adviser believes is consistent with preservation of capital. The fund invests mainly in bonds that pay interest that is exempt from federal income tax and Michigan personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (three years or longer).
Fees
Fees are Low compared to funds in the same category.
Putnam Michigan Tax Exempt Income Fund has an expense ratio of 0.63 percent.
Risk
Risk is Above Average compared to funds in the same category according to Morningstar.
