3 / 5 Stars
4 3 1 3 5
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
4 / 5 Stars
#16 in Muni Single State Long
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 6.98 percent over the past year, 7.60 percent over the past three years, and 2.83 percent over the past five years.
|Trailing Returns||Updated 04.30.2013|
|Year to date||2.2%|
|3 Years (Annualized)||7.6%|
|5 Years (Annualized)||2.8%|
|10 Years (Annualized)||N/A|
The investment seeks a high level of current interest income exempt from federal and Michigan state income taxes for individual investors as is consistent with preservation of capital. The fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in securities the income from which, in the opinion of counsel to the issuer of each security, is exempt from both federal and Michigan state income tax. It does not limit its investments to securities of a particular maturity range, and may hold both short- and long-term securities. The fund currently focuses on longer-term securities to seek higher yields. It is non-diversified.
Fees are Below Average compared to funds in the same category.
Oppenheimer Rochester Michigan Municipal Fund has an expense ratio of 0.80 percent.
Risk is High compared to funds in the same category according to Morningstar.