as of 5/31/14
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|% Net Assets|
|1||MD H&HEFA ROLs||14.8|
|2||Puerto Rico Sales Tax Financing Corp.||8.9|
|3||Prince Georges Cnty, MD Special District (Victoria||4.8|
|4||Puerto Rico Children's Trust Fund (TASC)||4.1|
|5||Guam Tobacco Settlement Economic Devel. & Commerce||3.2|
|6||Brunswick, MD Special Obligation (Brunswick Crossi||2.7|
|7||Puerto Rico Public Buildings Authority||2.7|
|8||MD H&HEFA (Adventist Healthcare)||2.5|
|9||MD EDC (Transition Facilities)||2.3|
|10||Baltimore, MD Special Obligation (North Locust Poi||2.2|
|11||MD H&HEFA (Doctors Community Hospital)||2.2|
|12||Puerto Rico Sales Tax Financing Corp., Series A||2.2|
|13||Northern Mariana Islands Commonwealth, Series A||2.0|
|14||Puerto Rico Aqueduct & Sewer Authority||1.9|
|15||Puerto Rico Highway & Transportation Authority||1.8|
|16||Puerto Rico Public Finance Corp., Series B||1.7|
|17||Howard Cnty, MD Retirement Community (Vantage Hous||1.7|
|18||Puerto Rico Aqueduct & Sewer Authority||1.7|
|19||MD H&HEFA (Anne Arundel Medical Center)||1.7|
|20||Puerto Rico Electric Power Authority, Series AAA||1.7|
|Alpha||R-squared||Sharpe Ratio||Standard Deviation (3 yr)|
|Top Sectors 3 as of 5/31/14|
|% Net Assets|
|2||Tobacco Master Settlement Agreement||13.5|
|3||Sales Tax Revenue||12.8|
|4||Adult Living Facilities||8.8|
|10||Tax Increment Financing (TIF)||3.0|
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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