The investment seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. The fund invests normally at least 80% of its net assets in securities and other investments, the interest on which is exempt from federal income tax. Interest from the fund's investments may be subject to the federal alternative minimum tax. It may invest 25% or more of the fund's total assets in municipal instruments that finance similar projects, such as those relating to education, healthcare, housing, utilities, water, or sewers.
Fund filings (PDF) »

Asset managers:
Gary Lasman (Started: Apr 30, 2006)
Geoffrey Schechter (Started: Aug 23, 2002)

Advisor Company:
Massachusetts Financial Services Co
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	3.28	2.23	-0.40	0.72
Beta*	1.05	1.06	1.28	1.06
Mean annual return	0.72	0.73	0.61	0.50
R-squared*	92.76	78.54	53.75	56.29
Standard deviation	3.10	4.52	8.31	6.42
Sharpe ratio	2.76	1.90	0.84	0.66
* Against standard index

Risk measurement details »

Security	Net Assets
Tobacco Settlement Fing Corp N Asset 5%	1.09%
Massachusetts Bay Transn Auth 5%	0.87%
Tobacco Settlement Fing Corp N Asse 4.5%	0.85%
Buckeye Ohio Tob Settlement Fi Toba 6.5%	0.85%
Buckeye Ohio Tob Settlement Fi To 5.125%	0.80%
Golden St Tob Securitization C Tob 5.75%	0.79%
New York N Y City Indl Dev Agy Re 7.625%	0.74%
Deutsche Bk Spears/Lifers Tr V Ctf 5.25%	0.67%
Gallia Cnty Ohio Hosp Facs Rev Ref Fa 8%	0.64%
J P Morgan Chase Putters / Dri Ctfs 5.5%	0.61%

Holdings Performance »