The investment seeks high current income exempt from Rhode Island State and regular Federal income taxes consistent with preservation of capital. The fund invests primarily in tax-free municipal obligations that pay interest exempt, in the opinion of bond counsel, from Rhode Island state and regular Federal income taxes. At the time of purchase, its Rhode Island Obligations must be of investment grade quality. These obligations can be of any maturity, but the fund's average portfolio maturity goal has traditionally been between 10 and 12 years. It is non-diversified.
Fund filings (PDF) »

Asset managers:
Jeffrey Hanna (Started: Oct 31, 2004)
Salvatore DiSanto (Started: Sep 10, 1992)

Advisor Company:
Aquila Investment Management LLC
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	-1.06	-1.05	-0.68	-1.38
Beta*	0.84	0.74	0.67	0.81
Mean annual return	0.27	0.29	0.29	0.25
R-squared*	97.03	94.59	89.85	88.26
Standard deviation	2.43	2.88	3.33	3.89
Sharpe ratio	1.30	1.18	0.95	0.33
* Against standard index

Risk measurement details »

Security	Net Assets
Rhode Island Health & Edl Bldg Higher 5%	2.16%
Rhode Island St Health & Edl B Hosp F 5%	2.08%
Rhode Island Health & Edl Bldg Rev Re 4%	2.00%
Rhode Island Clean Wtr Fin Agy Re 4.375%	1.87%
Narragansett R I Bay Commn Was Rev Bd 5%	1.75%
Convention Ctr Auth 5%	1.65%
Rhode Island Hsg & Mtg Fin Cor Hm Fd 4%	1.30%
Rhode Island Health & Edl Bldg Rev 4.75%	1.27%
Rhode Island St Health & Edl B Publ 4.5%	1.26%
Rhode Island St Health & Edl B Publ 4.5%	1.23%

Holdings Performance »