5.21 Up unch unch
DETAILS
Symbol Value ($)
Morningstar Rating
Previous Close 5.21
Category High Yield Muni
Net Assets 365.90 Mil
Yield 4.74%
Morningstar Risk Below Average
Morningstar Return Average
  • Last NAV update 8/22/2014 4:00 PM ET
INVESTMENT OBJECTIVE
NA
The investment seeks to provide a high level of current income that is not subject to federal income tax. The fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in a diversified portfolio of tax-exempt municipal bonds. Municipal bonds are obligations issued by or on behalf of states, territories and possessions of the United States, the interest on which is excludable from gross income for Federal income tax purposes, although a significant portion of such interest may be a tax preference item for purposes of the Federal alternative minimum tax.
CUMULATIVE PERFORMANCE OF $10,000
  2010 2011 2012 2013 2014
Return 6.69% 10.60% 11.53% -6.18% 10.34%
Value ($) 10,668.72 11,799.12 13,159.31 12,346.04 13,622.16
  • Year to date performance as of 8/22/2014 12:00 AM ET
MANAGEMENT & PURCHASE INFO
Symbol Value ($)
Fund Family Ivy Funds
Fund Manager Michael Walls
Tenure (Years) 5
Fund Status Open
Minimum Initial Purchase 750.00
Minimum IRA Investment NA
Front Load 4.25
Expense Ratio 0.86%
PERFORMANCE
Symbol Value ($)
1 Month 2.18%
3 Months 2.20%
1 Year 11.36%
3 Years* 6.24%
5 Years* 8.41%
  • * Annualized returns
  • Performance as of 8/22/2014 12:00 AM ET
PEER COMPARISON
  IYIAX High Yield Muni
5-Yr Return 8.41% 8.00%
Sharpe Ratio 1.16 1.63
Net Assets 365.90 Mil 376.41 Mil
Avg Market Cap NA 27.98 Bil
Avg P/E NA NA
Portfolio Turnover 21 34
HOLDINGS
Symbol Value ($)
Stocks 0.00%
Cash 0.55%
Fixed Income 99.19%
Other 0.26%
TOP 10 HOLDINGS
NAME % NET ASSETS
Massachusetts St Port Auth 2.46%
La Paz Cnty Ariz Indl Dev Auth 7.8% 2.20%
Pennsylvania St Tpk Commn Tpk Rev Bds 1.63%
Kent Hosp Fin Auth 6.25% 1.35%
Texas Private Activity Bd Surf Sr Lie 7% 1.34%
Michigan Tob Settlement Fin Au To 6.875% 1.32%
Texas Private Activity Bd Surf Sr 6.875% 1.28%
Illinois Fin Auth 8% 1.25%
Tobacco Securitization Auth 5% 1.19%
Kentucky Econ Dev Fin Auth 6.375% 1.13%
DATA PROVIDERS

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