Performance
Trailing returns
| 1 day | +0.04% |
| |||
| 1 week |
| -1.20% | |||
| 4 week |
| -2.19% | |||
| 3 month |
| -0.87% | |||
| YTD | +0.19% |
| |||
| 1 year | +4.82% |
| |||
| 3 years* | +7.46% |
| |||
| 5 years* | - | ||||
| *annualised | |||||
| Best 3-month return | +12.94% | |
| Worst 3-month return | -5.52% |
Morningstar statistics
Morningstar category: High Yield Muni
| Return | Risk | Rating | |
| 3 years | Below Average | Low |
 
|
| 5 years | Above Average | Below Average |
|
| 10 years | Above Average | Below Average |
|
| Overall | Below Average | Low |
|
Key statistics
| Total assets | 1,667.11M | |
| Front load | 4.25% | |
| Deferred load | - | |
| Expense ratio | 0.90% | |
| Management fee | - | |
| Fund family | Ivy Funds |
Asset allocation
| Cash | 3.02% | |
| Stocks | 0.00% | |
| Bonds | 96.98% | |
| Other | 0.00% |
Purchase information
| Initial | $500 | |
| AIP Initial | $50 | |
| AIP Additional | $25 |
5.360.00(0.00%)
Jun 17, 4:00pm GMT-4
Overall Morningstar RatingTM
Description
The investment seeks to provide a high level of current income that is not subject to federal income tax. The fund invests, during normal circumstances, at least 80% of its net assets in a diversified portfolio of tax-exempt municipal bonds. Municipal bonds are obligations the interest on which is not includable in gross income for federal income tax purposes, although a portion of such interest may be a tax preference item for purposes of the Federal alternative minimum tax (AMT) (Tax Preference Item). It typically invests in medium- and lower-quality bonds that include bonds rated BBB+ or lower.
Fund filings (PDF) »
Fund filings (PDF) »
Asset manager:
Michael Walls (Started: May 31, 2009)
Michael Walls (Started: May 31, 2009)
Risk
| 1 year | 3 years | 5 years | 10 years | ||
| Alpha* | 3.56 | 2.65 | 1.23 | 1.48 | |
| Beta* | 0.87 | 0.94 | 1.16 | 0.98 | |
| Mean annual return | 0.52 | 0.65 | 0.65 | 0.51 | |
| R-squared* | 93.22 | 83.84 | 51.07 | 54.15 | |
| Standard deviation | 2.92 | 4.01 | 7.81 | 6.02 | |
| Sharpe ratio | 2.10 | 1.92 | 0.96 | 0.72 | |
| * Against standard index | |||||
Top 10 holdings
| Security | Net Assets | |
| Massachusetts St Port Auth | 2.20% | |
| Texas Mun Gas Acquisition & Su Sr 6.25% | 1.48% | |
| Texas Private Activity Bd Surf Sr Lie 7% | 1.25% | |
| Citizens Ppty Ins Corp Fla Senior 1.41% | 1.23% | |
| New Jersey Econ Dev Auth | 1.22% | |
| Bay Area Toll Auth | 1.22% | |
| Pennsylvania St Tpk Commn Tpk Rev Bds | 1.21% | |
| Arizona Health Facs Auth 4.315% | 1.16% | |
| Illinois Fin Auth 8% | 1.09% | |
| Delaware Cnty Pa Indl Dev Auth 6.125% | 1.04% |