1 / 5 Stars
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Zacks Investment Research
Standard & Poor's
2 / 5 Stars
U.S. News evaluated 77 Muni Single State Long 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 4.37 percent over the past year, 3.81 percent over the past three years, 4.30 percent over the past five years, and 3.42 percent over the past decade.
|Trailing Returns||Updated 06.30.2014|
|Year to date||5.9%|
|3 Years (Annualized)||3.8%|
|5 Years (Annualized)||4.3%|
|10 Years (Annualized)||3.4%|
The investment seeks a high level of interest income that is exempt from both federal and state income tax for individual residents of the state of Michigan; it also seeks income that is not a tax preference item for purposes of the federal alternative minimum tax. Under normal circumstances, at least 80% of the fund's net assets (plus any borrowings for investment purposes) will be invested in municipal securities that pay interest that is exempt from federal income tax, including the AMT, and any applicable state income tax for individual residents of the state of Michigan.
Fees are High compared to funds in the same category.
First Investors Tax Exempt Michigan Fund has an expense ratio of 1.80 percent.
Risk is Average compared to funds in the same category according to Morningstar.