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Waddell & Reed Advisor Municipal High-Income Fund Class A (UMUHX)

4.73
Net Asset Value
-0.21%
1 Day
-0.21%
Year-to-Date
Overall Morningstar Rating
High yield muni
Style or Category
4.25
Sales Expenses
0.88%
Expense Ratio
Low
Morningstar Risk Rating™
Investment Objective The investment seeks a high level of current income that is not subject to Federal income tax. The fund seeks to achieve its objective by investing- under normal circumstances- at least 80% of its net assets in a diversified portfolio of municipal bonds. It invests substantially in municipal bonds with remaining maturities of 10 to 30 years. The fund primarily invests in revenue bonds: revenue bonds are payable only from specific sources- such as the revenue from a particular project- a special tax- and lease payments and/or appropriated funds.

Performance

1 month+0.19% 3 years+2.80%
3 months+0.82% 5 years+3.16%
1 year+4.60% Since inception+6.21%
Data through --

Peer Comparisonvs. High yield muni

 UMUHXCategory
Performance 5-yr return+3.16%+4.04%
Expense ratio0.88%0.93%
Risk 5 year sharpe ratio0.740.63
Net assets$729.5M$1.8B
Average market cap--$24.2B
Average P/E--12.8
Portfolio turnover9%9%

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Fund Management and Purchase Info

Fund familyWaddell & Reed
Fund manager & tenureMichael Walls / 9 Years
Minimal initial investment$750.00
Minimum IRA investment--

Holdings

Fixed income99.61%
Cash0.39%
U.S. stock0.00%
International stock0.00%
Other0.00%
Top 5 Sectors
Portfolio weighting
Business service --
Consumer goods --
Consumer service --
Energy --
Financial service --
Top 10 Holdings
Portfolio weighting
-- 1.71%
-- 1.58%
-- 1.51%
-- 1.38%
-- 1.35%
-- 1.33%
-- 1.31%
-- 1.24%
-- 1.23%
-- 1.08%