5.12 Up unch unch
DETAILS
Symbol Value ($)
Morningstar Rating
Previous Close 5.12
Category High Yield Muni
Net Assets 380.63 Mil
Yield 4.77%
Morningstar Risk Below Average
Morningstar Return Average
  • Last NAV update 7/22/2014 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 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 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. It typically invests in medium- and lower-quality bonds that include bonds rated BBB+ or lower.
CUMULATIVE PERFORMANCE OF $10,000
  2010 2011 2012 2013 2014
Return 6.69% 10.60% 11.53% -6.18% 7.98%
Value ($) 10,668.72 11,799.12 13,159.31 12,346.04 13,331.13
  • Year to date performance as of 7/22/2014 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 -0.39%
3 Months 2.39%
1 Year 5.57%
3 Years* 5.76%
5 Years* 8.49%
  • * Annualized returns
  • Performance as of 7/22/2014 12:00 AM ET
PEER COMPARISON
  IYIAX High Yield Muni
5-Yr Return 8.49% 8.28%
Sharpe Ratio 1.22 1.13
Net Assets 380.63 Mil 376.41 Mil
Avg Market Cap NA 30.94 Bil
Avg P/E NA NA
Portfolio Turnover 21 33
HOLDINGS
Symbol Value ($)
Stocks 0.00%
Cash 0.29%
Fixed Income 98.33%
Other 1.38%
TOP 10 HOLDINGS
NAME % NET ASSETS
Massachusetts St Port Auth 2.27%
La Paz Cnty Ariz Indl Dev Auth 7.8% 2.21%
Pennsylvania St Tpk Commn Tpk Rev Bds 1.58%
Kent Hosp Fin Auth 6.25% 1.37%
Delaware Cnty Pa Indl Dev Auth 6.125% 1.35%
Illinois Fin Auth 8% 1.34%
Michigan Tob Settlement Fin Au To 6.875% 1.31%
Texas Private Activity Bd Surf Sr Lie 7% 1.30%
Texas Private Activity Bd Surf Sr 6.875% 1.23%
Tobacco Securitization Auth 5% 1.13%
DATA PROVIDERS

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