1 / 5 Stars
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Zacks Investment Research
Standard & Poor's
2 / 5 Stars
U.S. News evaluated 80 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 -5.02 percent over the past year, 4.25 percent over the past three years, 3.67 percent over the past five years, and 2.76 percent over the past decade.
|Trailing Returns||Updated 01.31.2014|
|Year to date||1.7%|
|3 Years (Annualized)||4.2%|
|5 Years (Annualized)||3.7%|
|10 Years (Annualized)||2.8%|
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. The fund invests at least 80% of net assets (plus any borrowings for investment purposes) 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. It generally invests only in high quality municipal securities.
Fees are High compared to funds in the same category.
First Investors Tax Exempt Michigan Fund has an expense ratio of 1.75 percent.
Risk is Average compared to funds in the same category according to Morningstar.