The Fund seeks to provide a high level of current income exempt from both Federal and Maryland state income taxes without undue risk.
We strive for diversification and liquidity, while seeking to enhance income and reduce capital gains. Our strategy for the Fund is to maintain an average maturity between five and 10 years. Should other non-Maryland securities offer a higher tax-adjusted return, we have the ability to purchase up to 20% of the portfolio in these entities.
|(As of March 31, 2017)||3-month||1-year||3-year||5-year||10-year||Since Inception|
|Maryland Bond (Inv.)||1.39%||-0.08%||1.87%||1.52%||2.83%||3.19%|
|Bloomberg Barclays 1-10 Year Blended
Municipal Bond Index
Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Click here for the monthly and quarterly performance information.
Performance data does not reflect the 1.00% fee on shares redeemed or exchanged within 14 days of purchase, and if it had, returns would be lower.
|(As of February 28, 2017)|
|30-Day SEC Yield||1.53%|
|12-Month Distribution Yield||2.23%|
Top 10 Holdings
|(As of December 31, 2016)|
|1.||Maryland State Transportation Authority||6.8%|
|5.00% Due 07/01/2036|
|2.||County of Montgomery MD||4.3%|
|5.00% Due 12/01/2024|
|3.||County of Montgomery MD||4.3%|
|5.00% Due 11/01/2023|
|4.||City of Houston TX Airport System Revenue||3.6%|
|5.00% Due 07/15/2020|
|5.||Maryland State Transportation Authority||3.5%|
|5.00% Due 03/01/2022|
|6.||County of Prince George's MD||2.7%|
|5.00% Due 09/15/2026|
|7.||State of Maryland||2.7%|
|5.00% Due 08/01/2023|
|8.||Maryland Health & Higher Educational Facilities Authority||2.7%|
|5.00% Due 05/15/2040|
|9.||County of Baltimore MD||2.4%|
|4.50% Due 09/01/2020|
|10.||Washington State Housing Finance Commission||2.3%|
|4.00% Due 01/01/2026|
*The minimum investment requirements are waived for qualified retirement plans under Section 401(a) of the Internal Revenue Code ("IRC"), and plans operating consistent with 403(a), 403(b), 408, 408(A), 457, 501(c) and 223(d) of the IRC.
Diversification does not assume a profit nor protect against loss in a declining market.
Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.
Click here for index and financial term definitions.