The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in the prospectus and with the preservation of capital.Distinguishing Characteristics The fund will invest at least 80% of its assets in bonds and other debt instruments, including municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises.The fund will maintain an average portfolio duration that is within 1 year of the average duration of the Bloomberg Municipal Short 1-5 Years Index.The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities exempt from regular federal income tax. May invest up to 20% of its assets in bonds that fund private, for-profit organizations (also known as private activity bonds) whose interest is subject to the federal alternative minimum tax.
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The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in the prospectus and with the preservation of capital.Distinguishing Characteristics The fund will invest at least 80% of its assets in bonds and other debt instruments, including municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises.The fund will maintain an average portfolio duration that is within 1 year of the average duration of the Bloomberg Municipal Short 1-5 Years Index.The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities exempt from regular federal income tax. May invest up to 20% of its assets in bonds that fund private, for-profit organizations (also known as private activity bonds) whose interest is subject to the federal alternative minimum tax.
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Daily adjusted close
The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in the prospectus and with the preservation of capital.Distinguishing Characteristics The fund will invest at least 80% of its assets in bonds and other debt instruments, including municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises.The fund will maintain an average portfolio duration that is within 1 year of the average duration of the Bloomberg Municipal Short 1-5 Years Index.The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities exempt from regular federal income tax. May invest up to 20% of its assets in bonds that fund private, for-profit organizations (also known as private activity bonds) whose interest is subject to the federal alternative minimum tax.