as of 3/31/14
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|% Net Assets|
|1||Buckeye, OH Tobacco Settlement Financing Authority||2.9|
|2||CA Golden State Tobacco Securitization Corp. (TASC||2.7|
|3||WA Health Care Facilities Authority (Catholic Heal||2.0|
|4||NH H&EFA ROLs||1.2|
|5||IL Finance Authority (Roosevelt University)||1.2|
|6||Puerto Rico Sales Tax Financing Corp||1.2|
|7||NH H&EFA (LRGHealthcare) DRIVERS||1.2|
|8||CA Health Facilities Financing Authority ROLs||1.1|
|9||IL Finance Authority (Northwestern Memorial Hospit||1.1|
|10||NYC GO Drivers||1.1|
|11||Clark Cnty, NV Water Reclamation District DRIVERS||1.1|
|12||East Bay, CA Muni Utility District (Water System)||1.1|
|13||Birmingham, AL Commercial Devel. Authority (CivicC||1.1|
|14||LA Public Facilities Authority (OLOLRMC/OLOLMC Obl||1.1|
|15||CA Cnty Tobacco Securitization Agency (TASC)||1.1|
|16||CA M-S-R Energy Authority||1.0|
|17||Tarrant Cnty, TX Cultural Education Facilities Fin||0.9|
|18||Buckeye, OH Tobacco Settlement Financing Authority||0.9|
|19||CA Public Works||0.9|
|20||Houston, TX Airport System ROLs||0.9|
|Alpha||R-squared||Sharpe Ratio||Standard Deviation (3 yr)|
|Top States 3 as of 3/31/14|
|% Net Assets|
|Top Sectors 3 as of 3/31/14|
|% Net Assets|
|2||Tobacco Master Settlement Agreement||17.5|
|6||Tax Increment Financing (TIF)||6.1|
|8||Sales Tax Revenue||5.2|
Alpha (3-yr): measures the difference between a fund's actual and expected returns, based on beta, and is generally used as a measure of a manager's added value over a passive strategy.
R-squared (3-yr): is a measurement of how closely a portfolio's performance correlates with the performance of a benchmark index, and thus a measurement of what portion of its performance can be explained by the performance of the index. Values for R-squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation.
Sharpe Ratio (3-yr): is a risk-adjusted measure that measures reward per unit of risk. the higher the Sharpe Ratio, the better. The numerator is the difference between the portfolio's annualized return and the annualized return of a risk-free instrument, the denominator is the portfolio's annualized standard deviation (population).
Standard Deviation (3-yr): is a statistical measure of the degree to which the performance of a portfolio varies from its average performance during a specified period. the higher the standard deviation, the greater the volatility of the portfolio's performance returns relative to its average return.
Alpha, Beta and R-Squared were measured against the fund's benchmark: . Access index definitions.
Source: Morningstar, Inc. Although this data has been gathered from sources Morningstar believes to be reliable, its completeness and accuracy cannot be guaranteed.
*SEC Form N-MFP is available 60 days after the end of the month.
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