as of 1/31/14
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|% Net Assets|
|1||NY TSASC, Inc. (TFABs)||5.0|
|2||NYC Muni Water Finance Authority ROLs||3.8|
|3||Dutchess Cnty, NY IDA (Bard College)||2.8|
|4||NY Liberty Dev. Corp. (Bank of America Tower at On||2.7|
|5||Erie Cnty, NY Tobacco Asset Securitization Corp.||2.5|
|6||Nassau Cnty, NY Tobacco Settlement Corp. (TASC)||2.5|
|7||NYS DA (St Personal Income Tax Authority)||2.0|
|8||NYC GO DRIVERS||2.0|
|9||NY Counties Tobacco Trust II (TASC)||2.0|
|10||Erie Cnty, NY Tobacco Asset Securitization Corp.||2.0|
|11||Puerto Rico Commonwealth GO||1.9|
|12||NY Utility Debt Securitization Authority ROLs||1.9|
|13||NYS DA (Personal Income Tax) DRIVERS||1.9|
|14||NYC Transitional Finance Authority ROLs||1.9|
|15||NY Liberty Devel. Corp. (Bank of America Tower atO||1.9|
|16||NYC Muni Water Finance Authority ROLs||1.8|
|17||NYS DA (St. Mary's Hospital for Children)||1.8|
|18||Nassau Cnty, NY Tobacco Settlement Corp.||1.6|
|19||Deutsche Bank Spears/Lifers Trust||1.5|
|20||Puerto Rico Children's Trust Fund (TASC)||1.5|
|Alpha||R-squared||Sharpe Ratio||Standard Deviation (3 yr)|
|Top States 5 as of 1/31/14|
|% Net Assets|
|Top Sectors 5 as of 1/31/14|
|% Net Assets|
|1||Tobacco Master Settlement Agreement||24.4|
|4||Sales Tax Revenue||10.4|
|8||Real Estate Management & Development||6.6|
|9||Adult Living Facilities||4.3|
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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