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

4.74
Net Asset Value
+0.64%
1 Day
-3.85%
Year-to-Date
Overall Morningstar Rating
High yield muni
Style or Category
4.25
Sales Expenses
0.90%
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-3.91% 3 years+5.26%
3 months-4.35% 5 years+4.66%
1 year+0.29% Since inception+6.29%
Data through --

Peer Comparisonvs. High yield muni

 UMUHXCategory
Performance 5-yr return+4.66%+6.61%
Expense ratio0.90%0.98%
Risk 5 year sharpe ratio1.171.00
Net assets$876.5M$1.6B
Average market cap--$21.0B
Average P/E--4.5
Portfolio turnover7%7%

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Fund Management and Purchase Info

Fund familyWaddell & Reed
Fund manager & tenureMichael Walls / 8 Years
Minimal initial investment$750.00
Minimum IRA investment--

Holdings

Fixed income99.13%
Cash0.88%
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
-- 3.07%
-- 2.05%
-- 1.50%
-- 1.36%
-- 1.36%
-- 1.20%
-- 1.12%
-- 1.10%
-- 1.09%
-- 1.09%