Each Fund will terminate on or about August 31 of the year in the Fund's name. An investment in the Fund(s) is not guaranteed, and an investor may experience losses, including near or at the termination date. In the final months of the Fund's operation, as the bonds it holds mature, its portfolio will transition to cash and cash-like instruments. Following the Fund's termination date, the Fund will distribute substantially all of its net assets, after deduction of any liabilities, to then-current investors without further notice and will no longer be listed or traded. The Funds do not seek to return any predetermined amount.
Yield as of 2/7/2012 |
||
|---|---|---|
| Description | % | |
| 30-Day SEC Yield |
0.49% | |
| Average Yield to Maturity |
0.71% | |
| Distribution Yield |
1.28% | |
| 12-Month Yield as of 2/7/2012 |
1.50% | |
Tax Equivalent Yield as of 2/7/2012 | ||
|---|---|---|
| Description | % | |
| Tax Equivalent Distribution Yield | 1.97% | |
| Tax Equivalent 30-Day SEC Yield | 0.76% | |
| Fundamentals as of 2/7/2012 | ||
|---|---|---|
| Description | Value | |
| Weighted Average Maturity |
3.37 yr | |
| Weighted Average Coupon | 4.73% | |
| Effective Duration
|
3.14 | |
| Standard Deviation (3 year) as of 1/31/2012 |
-- | |
Avg. Annualized Total Returns (NAV)qtr. as of 12/31/2011 | |||||
|---|---|---|---|---|---|
1 Year |
3 Years |
5 Years |
10 Years |
Since Inception | |
| MUAD | 4.94% | -- | -- | -- | 3.99% |
| Index |
5.27% | -- | -- | -- | 4.59% |
| Top States as of 2/7/2012 | |
|---|---|
| State | % of Fund |
| New York | 9.55% |
| Maryland | 8.18% |
| California | 7.32% |
| Florida | 6.52% |
| Massachusetts | 6.32% |
| New Jersey | 4.72% |
| Texas | 4.69% |
| Washington | 4.62% |
| Virginia | 4.12% |
| Puerto Rico | 4.12% |
| Total | 60.17% |
|
Sector Breakdownas of 2/7/2012*
|
|||||
|---|---|---|---|---|---|
| Sector | % of Fund | Sector | % of Fund | ||
|
Various Pu...
18.42%
|
Education
6.69%
|
||||
|
Transporta...
17.04%
|
General Pu...
4.98%
|
||||
|
Tax-Revenue
14.04%
|
Authority
3.71%
|
||||
|
Utility
11.47%
|
Sanitation...
2.88%
|
||||
|
School Dis...
8.50%
|
Other/Unde...
4.99%
|
||||
|
Improvement
7.28%
|
|||||
Maturity as of 2/7/2012 |
|
|---|---|
| Time to Maturity | % of Fund |
| 0-1 Years | 0.00% |
| 1-5 Years | 98.61% |
| 5-10 Years | 0.00% |
| 10-15 Years | 0.00% |
| 15-20 Years | 0.00% |
| 20-25 Years | 0.00% |
| 25 Years and Over | 0.00% |
| Average | 3.37 years |
|
Top Holdings as of 2/7/2012*
|
|||||
|---|---|---|---|---|---|
Name |
% of Fund |
Coupon | Maturity | Moody's/S&P Rating | |
| MASSACHUSETTS BAY TRANSN AUTH | 2.45% | 4.75 | 7/1/2015 | Aa1 /NR | |
| WASHINGTON SUBN SAN DIST MD | 2.05% | 5.00 | 6/1/2015 | Aaa /AAA | |
| LOUDOUN CNTY VA | 1.66% | 5.00 | 6/1/2015 | Aaa /AAA | |
| FLORIDA HURRICANE CATASTROPHE FD F | 1.64% | 5.00 | 7/1/2015 | Aa3 /AA- | |
| CONNECTICUT ST | 1.39% | 5.00 | 6/1/2015 | Aa3 /AA | |
| FLORIDA ST BRD ED PUB ED | 1.38% | 5.00 | 6/1/2015 | Aa1 /AAA | |
| UTAH ST | 1.37% | 4.00 | 7/1/2015 | Aaa /AAA | |
| NEW YORK N Y | 1.36% | 5.00 | 8/1/2015 | Aa2 /AA | |
| MASSACHUSETTS ST | 1.27% | 5.00 | 8/1/2015 | Aa1 /AA+ | |
| OHIO ST | 1.17% | 5.50 | 6/15/2015 | Aa1 /AA | |
| Total | 15.74% | ||||
| Estimated Net Acquisition Yield Calculator | ||
|---|---|---|
| Calculate the Estimated Net Acquisition Yield (ENA Yield) based on the projected market purchase price that you input. This
estimate also reflects the deduction of the expense ratio (30 basis points).
The NAV (as of 2/7/2012) used in the calculation is $53.19. The value you enter should correspond to your estimated market purchase price as of 2/7/2012. Please note that the results generated by the Estimated Net Acquisition Yield Calculator are for illustrative purposes only and are not representative of any specific investment outcome. |
||
|
|
||

| Profile as of 2/8/2012 | |
|---|---|
| Description | Value |
| Total Net Assets | $34,576,964 |
| Expense Ratio | 0.30% |
| Shares Outstanding | 650,000 |
Number of Holdings as of 2/7/2012 |
163 |
| Fund Credit Rating - S&P** | A+f |
| Inception Date | 1/7/2010 |
| Related Index | SPMUS15T |
Net Asset Value as of 2/8/2012 |
$53.20
|
Price as of 2/7/2012 |
$53.63
|
| Fees & Expenses | |||
|---|---|---|---|
| Expense Type | % | ||
| Management Fees | 0.30% | ||
+ |
Acquired Fees & Expenses | 0.00% | |
= |
Total Annual Fund Operating Expenses | 0.30% | |
| Credit Ratings as of 2/7/2012 | |||||
|---|---|---|---|---|---|
| S&P | Moody's | ||||
| AAA/Aaa | 26.62% | 22.46% | |||
| AA+/Aa1 | 19.26% | 31.75% | |||
| AA/Aa2 | 22.15% | 21.28% | |||
| AA-/Aa3 | 19.96% | 15.77% | |||
| A+/A1 | 3.67% | 1.47% | |||
| A/A2 | 0.24% | 0.66% | |||
| A-/A3 | 0.90% | 1.60% | |||
| BBB+/Baa1 | 1.68% | 1.24% | |||
| BBB/Baa2 | 1.37% | 0.31% | |||
| BBB-/Baa3 | 0.31% | 0.00% | |||
| BB+/Ba1 | 0.00% | 0.00% | |||
| BB/Ba2 | 0.00% | 0.00% | |||
| BB-/Ba3 | 0.00% | 0.00% | |||
| B+/B1 | 0.00% | 0.00% | |||
| B/B2 | 0.00% | 0.00% | |||
| B-/B3 | 0.00% | 0.00% | |||
| CCC+/Caa1 | 0.00% | 0.00% | |||
| CCC/Caa2 | 0.00% | 0.00% | |||
| CCC-/Caa3 | 0.00% | 0.00% | |||
| CC/Ca | 0.00% | 0.00% | |||
| C/C | 0.00% | 0.00% | |||
| R/-- | 0.00% | -- | |||
| SD/-- | 0.00% | -- | |||
| D/-- | 0.00% | -- | |||
| Not Rated | 3.35% | 2.97% | |||
| Other | 0.49% | 0.49% | |||
Ratings are measured on a scale that generally ranges from AAA (S&P highest) or Aaa (Moody's highest) to D (S&P lowest) or C (Moody's lowest). "Other" applies to securities for which ratings are not available.
| Trading Information | ||
|---|---|---|
| Identifier Type | Symbol | |
| Ticker | MUAD | |
| Related Index | SPMUS15T | |
| NAV | MUAD.NV | |
| Underlying Trading Value | MUAD.IV | |
| Shares Outstanding | MUAD.SO | |
| Estimated Cash | MUAD.EU | |
| Total Cash | MUAD.TC | |
| CUSIP | 464289339 | |
