All data as of 11-30-16 unless otherwise noted.
|NAV as of 1-13-17||Daily change||Daily change|
Overall Rating This is a 5 star fund.
Based on risk-adjusted return through 11-30-16
Muni National Short category (170 funds)
The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings.
|YTD return as of 1-13-17||0.41%|
|Net fund assets as of 1-13-17||1865876612|
|3 month||Year to date||1 year||3 year||5 year||10 year||Since inception|
|Strategic Municipal Bond Fund||NAV||-1.71||0.48||0.89||2.45||2.66||3.11||5.13|
as of 9-30-16
|Bloomberg Barclays Short-Intermediate Municipal Bond Index||-3.18||-0.73||-0.48||1.71||1.94||3.40||–|
|Lipper Short-Intmdt Municipal Debt Funds||-2.59||-0.54||-0.37||1.15||1.42||2.47||–|
Three-month and year-to-date returns are not annualized.
Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on a fund. Investment return, principal value, and yields of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.
Net asset value (NAV) is the value of one share of the fund excluding any sales charges.
Institutional Class shares are sold without a front-end sales charge or contingent deferred sales charge.
Does not include sales charges and assumes reinvestment of dividends and capital gains. If sales charges were included, returns would be lower.
Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. Changes in market conditions and government policies may lead to periods of heightened volatility in the bond market and reduced liquidity for certain bonds held by the fund. In general, when interest rates rise, bond values fall and investors may lose principal value. Interest-rate changes and their impact on the fund and its share price can be sudden and unpredictable. High-yield securities have a greater risk of default and tend to be more volatile than higher-rated debt securities. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to municipal securities risk. Consult the fund's prospectus for additional information on these and other risks. A portion of the fund's income may be subject to federal, state, and/or local income taxes or the Alternative Minimum Tax (AMT). Any capital gains distributions may be taxable.