Active Income
Tax Exempt Income Fund (Class Y) (PTEYX)
Seeking a high level of tax-free income since 1976
Highlights
Seeking a high level of tax-free income since 1976
The fund seeks as high a level of current income exempt from federal income tax as we believe to be consistent with preservation of capital.
Strategy and process
- Tax-advantaged income: The fund pursues income free from federal income tax with a portfolio of municipal bonds selected from many states and market sectors.
- Focus on performance: The portfolio managers seek a competitive yield and to protect investor's capital through careful investment analysis and risk management.
- A diversified portfolio: A broadly diversified portfolio enables the managers to pursue current tax-free income opportunities while managing risk and seeking to preserve capital.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$8.90
0.00% | $0.00 |
$8.96
08/30/19 |
$8.34
11/05/18 |
Consistency of positive performance over five years
Performance shown does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please click on the performance tab.
22.07%
Best 5-year annualized return
(for period ending 12/31/86)
-1.95%
Worst 5-year annualized return
(for period ending 12/31/81)
6.97%
Average 5-year annualized return
Fund facts as of 06/30/19
Total net assets
$944.28M
$944.28M
Turnover (fiscal year end)
42%
42%
Dividend frequency (view rate)
Monthly
Monthly
Number of holdings
429
429
Fiscal year-end
September
September
CUSIP / Fund code
746870500 / 1809
746870500 / 1809
Inception date
01/02/08
01/02/08
Category
Tax-free Income
Tax-free Income
Open to new investors
Ticker
PTEYX
PTEYX
Manager commentary | Q2 2019
Muni fundamentals remain stable
Portfolio Managers Paul Drury and Garrett Hamilton discuss fundamentals in the municipal bond market.
Literature
Fund documents |
|
| Fact Sheet (A share) (PDF) | |
| Fact Sheet (R6 share) (PDF) | |
| Fact Sheet (Y share) (PDF) |
|
| Summary Prospectus (PDF) |
|
| Statutory Prospectus (PDF) |
|
| Statement of Additional Information (SAI) (PDF) | |
| Annual Report (PDF) |
|
| Semiannual Report (PDF) |
|
| Brochure (PDF) |
|
| Proxy voting results (Form N-PX) (PDF) | |
| Quarterly Commentary (PDF) | |
| Comparing Putnam's tax-free income funds (PDF) | |
Munis feel knock-on effects of tax reform
The municipal bond market will likely see a reduction in supply in 2018 because of certain provisions in the new tax reform law.Performance
Total return (%) as of 09/30/19
Annual performance as of 09/30/19
Annualized Total return (%) as of 09/30/19
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 8.93% | 3.57% | 3.91% | 4.45% |
| After sales charge | N/A | N/A | N/A | N/A |
| Bloomberg Barclays Municipal Bond Index | 8.55% | 3.19% | 3.66% | 4.16% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Multi-Asset Absolute Return Fund, 4.00% and 3.25% for income funds and 2.25% and 0.75% for Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund, respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, which is 3% in the first year, declining to 1% in the fourth year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A and M shares of Putnam money market funds have no initial sales charge. For a portion of the periods, some funds had expense limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 09/30/19 | -0.67% | - | |
| YTD as of 10/14/19 | 7.89% | - | |
Yield
| Distribution rate before sales charge as of 10/14/19 |
2.85% |
|---|---|
| Distribution rate after sales charge as of 10/14/19 |
2.85% |
| 30-day SEC yield as of 09/30/19 | 1.73% |
Risk-adjusted performance as of 06/30/19
| Sharpe ratio (3 yrs.) | 0.51 |
|---|---|
| Information ratio (3 yrs.) | 0.48 |
Volatility as of 06/30/19
| Standard deviation (3 yrs.) | 3.03% |
|---|---|
| Beta | 0.88 |
| R-squared | 0.97 |
Lipper rankings as of 06/30/19
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 56/275 | 21% |
| 3 yrs. | 49/238 | 21% |
| 5 yrs. | 64/208 | 31% |
| 10 yrs. | 58/168 | 35% |
Morningstar Ratings™ as of 06/30/19
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 147 | |
| 3 yrs. | 147 | |
| 5 yrs. | 131 | |
| 10 yrs. | 111 |
Distributions
| Accrual days | 28 |
|---|---|
| Accrual start date | 09/03/19 |
| Accrual end date | 09/30/19 |
| Payable date | 09/30/19 |
| Non-taxable income | $0.019659932 |
| Extra taxable income | -- |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Compare
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** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
Top 10 holdings as of 06/30/19
| Sc Transprtn-2003b 02.0500 10/01/2031 | 2.07% |
|---|---|
| New York St Thruway-A 04.0000 02/01/2020 | 1.71% |
| Henrico Indl-Reg Link 05.9290 08/23/2027 | 1.40% |
| N Tx Twy Cab-Ref-I 06.5000 01/01/2043 | 1.30% |
| Miami-Dade Cnty Rev 05.0000 10/01/2040 | 1.25% |
| California St-B-Txbl 02.1930 04/01/2047 | 1.20% |
| Ky Pub Energy-C-1 04.0000 12/01/2049 | 1.14% |
| Dallas Area Rapid-A 05.0000 12/01/2046 | 1.11% |
| Ms Business Fin-Ref 02.5000 04/01/2022 | 1.07% |
| Centrl Plains Energy 05.0000 03/01/2050 | 0.98% |
| Top 10 holdings, percent of portfolio | 13.23% |
Full portfolio holdings as of 09/30/19
| SC TRANSPRTN-2003B 01.8110 10/01/2031 | 2.01% |
|---|---|
| FEDERAL HOME LOAN MTG 02.5500 06/15/2035 | 1.59% |
| HENRICO INDL-REG LINK 05.9290 08/23/2027 | 1.29% |
| N TX TWY CAB-REF-I 06.5000 01/01/2043 | 1.25% |
| MIAMI-DADE CNTY REV 05.0000 10/01/2040 | 1.22% |
| CALIFORNIA ST-B-TXBL 02.1930 04/01/2047 | 1.17% |
| KY PUB ENERGY-C-1 04.0000 12/01/2049 | 1.12% |
| DALLAS AREA RAPID-A 05.0000 12/01/2046 | 1.10% |
| ILLINOIS ST-D 05.0000 11/01/2026 | 1.09% |
| MS BUSINESS FIN-REF 02.5000 04/01/2022 | 1.04% |
| SAN BERNARDIO OBLG-C 02.2610 08/01/2023 | 1.02% |
| GREAT LAKES WTR-C-REF 05.0000 07/01/2036 | 0.95% |
| CENTRL PLAINS ENERGY 05.0000 03/01/2050 | 0.93% |
| ILLINOIS ST SALES TAX 04.0000 06/15/2020 | 0.93% |
| E-470 PUB HWY-CAB-A 00.0000 09/01/2034 | 0.90% |
| LANCASTER OH PORT AUT 05.0000 08/01/2049 | 0.90% |
| WHITING IN ENVRNMNTL 05.0000 12/01/2044 | 0.87% |
| DALLAS ETC ARPRT-A 05.0000 11/01/2043 | 0.85% |
| IL FIN AUTH-VAR-REF 01.8810 11/01/2034 | 0.83% |
| NJ TRN FD CAB-SER C 00.0000 12/15/2024 | 0.81% |
| DETROIT MI DOWNTOWN D 05.0000 07/01/2048 | 0.81% |
| HARRIS CULT ED VAR-C1 01.4300 12/01/2024 | 0.78% |
| ID HSG & FIN 04.0000 07/15/2030 | 0.76% |
| ILLINOIS ST 05.0000 11/01/2029 | 0.74% |
| TRIBOROUGH BRIDGE-D 01.7190 11/15/2038 | 0.73% |
| LA PUB FACS AUTH-A 05.0000 07/01/2059 | 0.72% |
| ALASKA ST INDL DEV-A 04.0000 10/01/2044 | 0.72% |
| HOUSTON TX UTL SYS-A 05.0000 11/15/2033 | 0.70% |
| IN BD BK SER A 05.2500 10/15/2021 | 0.68% |
| LOUISVILLE & JEFFERSO 04.0000 10/01/2034 | 0.68% |
| MURRAY CITY HSP-IHC-C 01.3800 05/15/2036 | 0.68% |
| MIAMI-DADE CO-D 05.0000 07/01/2045 | 0.67% |
| NEW JERSEY ST ECON DE 05.0000 11/01/2026 | 0.66% |
| MET TRANS AUTH-C1-REF 04.0000 11/15/2032 | 0.65% |
| MI FIN AUTH-H-1-REF 05.0000 10/01/2039 | 0.62% |
| SALT LAKE CITY ARPT-A 05.0000 07/01/2043 | 0.62% |
| PA TNPK CMMN-A 05.0000 12/01/2044 | 0.62% |
| PORT TXB-PENSION-C 07.7010 06/01/2022 | 0.62% |
| MET WA ARPTS-CABS-A 00.0000 10/01/2037 | 0.61% |
| PALM BEACH HLTH-REF 05.0000 11/15/2032 | 0.61% |
| TEXAS ST WTR DEV BRD 04.0000 10/15/2054 | 0.61% |
| OHIO ST-A 04.0000 02/01/2033 | 0.61% |
| TEXAS PRIV ACTIVITY 05.0000 06/30/2058 | 0.60% |
| DALLAS-FT WORTH ARPT 05.2500 11/01/2030 | 0.59% |
| NYC-ADJ-1-SUBSER I-2 01.4000 03/01/2040 | 0.58% |
| MAIN ST NATURAL GAS-B 04.0000 08/01/2049 | 0.58% |
| TEXAS ST-TRANS 04.0000 08/27/2020 | 0.58% |
| SOUTHCENTRL PA GEN AU 04.0000 06/01/2049 | 0.58% |
| CHICAGO HSG AUTH-A 05.0000 01/01/2031 | 0.57% |
| KY PUB ENERGY AUTH-B 04.0000 01/01/2049 | 0.57% |
| KING CO PUB HOSP DT 1 05.0000 12/01/2037 | 0.57% |
| SALES TAX SECURTZTN-C 05.5000 01/01/2036 | 0.56% |
| MURRAY CITY HSP-VAR-A 01.4000 05/15/2037 | 0.55% |
| NH HLTH &EDU FACS-REF 05.0000 10/01/2037 | 0.54% |
| PA ECON DEV-A-WASTE 01.7000 08/01/2037 | 0.54% |
| PA TURNPIKE COMM-CONV 00.0000 12/01/2044 | 0.54% |
| TENNERGY CORP TN GAS 05.0000 02/01/2050 | 0.54% |
| MIAMI-DADE CNTY AVTN 05.0000 10/01/2041 | 0.53% |
| MET GOVT ETC-D-TXBL 04.5110 07/01/2046 | 0.53% |
| UNION UTILS-A-REF 05.2500 12/01/2031 | 0.53% |
| MET TRANS AUTH-A2A 01.9400 11/01/2026 | 0.52% |
| NJ HLTH-VAR-B-AHS HOS 01.2600 07/01/2036 | 0.52% |
| TNDR OPT-RSDL-XF0805 P/P 06.0600 08/01/2037 | 0.51% |
| ALLEGHENY HOSP DEV-A 05.0000 04/01/2033 | 0.50% |
| KANSAS CITY ARPT-B 05.0000 03/01/2037 | 0.50% |
| TOBACCO SETTLEMENT-A 05.0000 06/01/2035 | 0.50% |
| PORT AUTH OF NEW YORK 05.0000 09/15/2031 | 0.49% |
| GAINESVILLE HOSP-A 05.0000 02/15/2036 | 0.49% |
| SC PUB SVC AUTH-A-REF 05.0000 12/01/2036 | 0.49% |
| FARMINGTON PCR-B 04.7000 09/01/2024 | 0.48% |
| GLENDALE INDL-MIDWEST 05.1250 05/15/2040 | 0.48% |
| PATRIOTS ENERGY GROUP 04.0000 10/01/2048 | 0.47% |
| CHICAGO 2002B 05.5000 01/01/2037 | 0.46% |
| DC-KIPP-SER A-REF 05.0000 07/01/2037 | 0.46% |
| NJ TRANSPRTN TRUST-A 05.0000 12/15/2034 | 0.45% |
| HALIFAX HOSP MED-REF 05.0000 06/01/2036 | 0.45% |
| VA SMALL BUSINESS FIN 05.0000 01/01/2044 | 0.44% |
| TEXAS CITY ARCO PIPE 07.3750 10/01/2020 | 0.44% |
| TN ENERGY 05.2500 09/01/2020 | 0.43% |
| SAINT JOHN THE BAPTIS 02.1000 06/01/2037 | 0.42% |
| BUCKEYE TOB ASSET-A-2 05.7500 06/01/2034 | 0.42% |
| NYC-ADJ-SER I-SUB I-3 01.3900 04/01/2036 | 0.41% |
| TRIBOROUGH BRIDGE-B2 01.3300 01/01/2032 | 0.41% |
| GLENDALE INDL DEV-REF 05.0000 05/15/2039 | 0.41% |
| GA MUNI ELEC AUTH-A 05.5000 07/01/2060 | 0.41% |
| MTA-D1-TRANSPRTN 05.0000 11/15/2039 | 0.40% |
| CA POLL CNTRL-AMT P/P 144A 05.0000 11/21/2045 | 0.39% |
| CHICAGO ARPT-F 05.0000 01/01/2040 | 0.39% |
| RVRSIDE LSE CORP-HOSP 00.0000 06/01/2025 | 0.38% |
| MSR ENERGY 06.5000 11/01/2039 | 0.37% |
| NEW JERSEY ST ECON DE 05.0000 10/01/2037 | 0.36% |
| TOB SETTLEMT FING-B 05.0000 06/01/2050 | 0.36% |
| CHICAGO IL 06.0000 01/01/2038 | 0.36% |
| KAREGNONDI WTR AUTH-A 05.2500 11/01/2030 | 0.35% |
| PA TURNPIKE COMMN 05.0000 12/01/2044 | 0.35% |
| MIAMI-DADE CO-A 04.0000 10/01/2044 | 0.34% |
| CHICAGO WSTWTR 05.0000 01/01/2044 | 0.34% |
| ILLINOIS ST 05.0000 12/01/2031 | 0.34% |
| MIAMI-DADE-SALES TAX 05.0000 07/01/2042 | 0.34% |
| KY ECON DEV-A-REF 05.0000 12/01/2045 | 0.33% |
| NJ TRANSN TR FD-A 06.0000 06/15/2035 | 0.33% |
| TARRANT CNTY TX CULTU 05.0000 11/15/2037 | 0.33% |
| JEFFERSON CO-REV-REF 05.0000 09/15/2034 | 0.32% |
| DIST COLUM REV-UNREF 06.5000 10/01/2041 | 0.32% |
| PITTSBURGH SPORTS-REF 05.0000 02/01/2035 | 0.32% |
| KANSAS CITY ARPT-B 05.0000 03/01/2038 | 0.31% |
| KY PPTY & BLDGS 05.0000 05/01/2037 | 0.31% |
| CHICAGO WSTWTR 05.0000 01/01/2039 | 0.31% |
| MTA HUDSON RAIL YRD-A 05.0000 11/15/2046 | 0.31% |
| KS DEV-LIFESPACE-S 05.0000 05/15/2030 | 0.30% |
| CLEVELAND ETC PORT 05.5000 12/01/2053 | 0.30% |
| MUNI ELEC AUTH OF GA 05.0000 01/01/2063 | 0.30% |
| ALASKA ST INDL DEV-A 04.0000 10/01/2039 | 0.29% |
| ALLEGHENY HOSP DEV-A 05.0000 04/01/2035 | 0.29% |
| MET PIER & EXPOSITION 05.0000 06/15/2057 | 0.29% |
| ILLINOIS ST-REF 05.0000 02/01/2028 | 0.28% |
| MATAGORDA NAV 1-RF-A 04.4000 05/01/2030 | 0.28% |
| MA HLTH-NORTHESTN-A 05.0000 10/01/2035 | 0.28% |
| HOUSTON UTL SYS-D-REF 05.0000 11/15/2039 | 0.27% |
| DALLAS AREA RAPID-A 05.0000 12/01/2041 | 0.27% |
| NJ TRANSPRTN TRUST-A 05.0000 12/15/2035 | 0.27% |
| KENTWOOD MI ECON DEV 05.0000 11/15/2037 | 0.26% |
| WASHINGTON ST HLTH CA 02.4470 01/01/2042 | 0.26% |
| GRANT CNTY WA PUBLIC 02.0000 01/01/2044 | 0.26% |
| SALT VERDE FNL CORP 05.5000 12/01/2029 | 0.26% |
| LAKELAND HOSP 05.0000 11/15/2040 | 0.26% |
| FULTON DEV AUTH-A-REF 05.0000 10/01/2042 | 0.25% |
| DIST OF COLUMBIA- REV 05.0000 07/01/2039 | 0.25% |
| KANSAS CITY ARPT-B 05.0000 03/01/2039 | 0.25% |
| PA TPK 2ND SER REF 05.0000 12/01/2036 | 0.25% |
| IL ST-REF 05.0000 08/01/2021 | 0.24% |
| NEW YORK CITY MUNI FI 05.0000 06/15/2046 | 0.24% |
| ILLINOIS ST 05.0000 12/01/2028 | 0.24% |
| CHANDLER AZ INDL DEV 05.0000 06/01/2049 | 0.24% |
| GAINESVILLE ETC DEV 05.0000 03/01/2047 | 0.24% |
| ILLINOIS ST 05.0000 10/01/2032 | 0.24% |
| CLIFTON HGR EDU FIN 04.0000 08/15/2031 | 0.24% |
| SC PUB SVC AUTH-A 05.5000 12/01/2054 | 0.24% |
| SOUTH CAROLINA ST PUB 05.2500 12/01/2055 | 0.24% |
| SC PUB SVC AUTH-E 05.5000 12/01/2053 | 0.23% |
| SEATTLE SOL WST-REV 04.0000 06/01/2032 | 0.23% |
| BEXAR CO-REF 04.0000 06/15/2034 | 0.23% |
| MA DEV FIN AGY-E-OLIN 05.0000 11/01/2043 | 0.23% |
| OAKLAND UNIV-REF 05.0000 03/01/2039 | 0.23% |
| SANTA FE RETMNT FAC 05.0000 05/15/2032 | 0.23% |
| NEW YORK TRANSPRTN-A 05.0000 07/01/2041 | 0.23% |
| DENVER-A-AMT-SUB-ARPT 05.5000 11/15/2031 | 0.23% |
| INDIANA ST FIN AUTH 04.0000 11/01/2043 | 0.23% |
| PALM BEACH CNTY FL HL 04.0000 08/15/2049 | 0.23% |
| DETROIT WTR & SWR-A 05.0000 07/01/2032 | 0.22% |
| MO DEV FIN BRD-A 05.0000 06/01/2037 | 0.22% |
| DIST OF COLUMBIA UNIV 05.5000 04/01/2041 | 0.22% |
| LEE CNTY FL INDL DEV 05.0000 11/15/2044 | 0.22% |
| ST TAMMANY HOSP-A-REF 05.0000 07/01/2036 | 0.22% |
| FRANKLIN CNTY-A 06.0000 07/01/2035 | 0.22% |
| ST TAMMANY HOSP-A-REF 05.0000 07/01/2035 | 0.22% |
| CHICAGO WTRWKS-REMK 05.0000 11/01/2029 | 0.21% |
| DELAWARE ECON DEV AUT 05.3750 10/01/2045 | 0.21% |
| PORT AUTH OF NY/NJ 04.5000 04/01/2037 | 0.21% |
| MA DEV-SUFFOLK UNIV 05.1250 07/01/2040 | 0.21% |
| NJ ECON-B-RF-NJ AMERN 05.6000 11/01/2034 | 0.21% |
| PA TURNPIKE-B1 05.0000 06/01/2042 | 0.21% |
| MIAMI-DADE AVIATION-A 05.0000 10/01/2038 | 0.21% |
| ORANGE CO HLTH FACS 05.0000 08/01/2034 | 0.21% |
| IN FIN AUTH-AMT-A-REF 01.4000 05/01/2034 | 0.21% |
| OHIO-AMT-PORTSMOUTH 05.0000 12/31/2035 | 0.21% |
| TRIBORO BRIDGE-F-REF 01.3300 11/01/2032 | 0.21% |
| LAKELAND HOSP 05.0000 11/15/2045 | 0.20% |
| DE HLTH FACS AUTH-A 04.0000 07/01/2040 | 0.20% |
| CA POLL FING AUTH 04.7500 11/01/2046 | 0.20% |
| KAREGNONDI WTR AUTH 05.0000 11/01/2034 | 0.20% |
| GREATER CHICAGO MET-E 05.0000 12/01/2029 | 0.20% |
| TNDR OPT-RSDL-XF0804 P/P 06.8800 08/01/2049 | 0.19% |
| MAIN STREET NATURAL-A 05.0000 05/15/2033 | 0.19% |
| NEW HOPE CULT EDU-B1 04.0000 07/01/2048 | 0.19% |
| TEXAS MUNI PWR AGY 05.0000 09/01/2047 | 0.19% |
| ID HLTH FACS-A-REF 05.0000 03/01/2037 | 0.19% |
| DE ECON-REF-GAS FACS 05.4000 02/01/2031 | 0.18% |
| NEW HAMPSHIRE ST HLTH 05.0000 07/01/2044 | 0.18% |
| TNDR OPT-RSDL-XF0742 P/P 14.0400 12/01/2047 | 0.18% |
| CALIFORNIA STWD CMNTY 05.0000 11/15/2044 | 0.18% |
| MI ST FIN AUTH 05.0000 11/15/2042 | 0.18% |
| MONROE CO INDL DEV-C 04.0000 07/01/2035 | 0.18% |
| CT HLTH & EDU-F-REF 05.0000 07/01/2034 | 0.18% |
| MI STRAT FD-WORTHINGT 05.7500 10/01/2022 | 0.17% |
| VIRGINIA ST CMWLTH-B 04.0000 07/01/2036 | 0.17% |
| VIRGINIA ST CMWLTH-B 04.0000 07/01/2037 | 0.17% |
| TX PRIVATE ACTIVITY 06.8750 12/31/2039 | 0.17% |
| CHICAGO BOE-C-PROJ 05.2500 12/01/2039 | 0.17% |
| GILLIAM WST VAR-A-CON 02.4000 08/01/2025 | 0.17% |
| MI STRAT REF DETRO-BB 07.0000 05/01/2021 | 0.17% |
| OHIO HOSP FAC-A-REF 04.0000 01/01/2043 | 0.17% |
| SC PUB SVC AUTH-E 05.0000 12/01/2048 | 0.17% |
| MIDDLEBURG HGHTS HOSP 05.0000 08/01/2047 | 0.17% |
| KY PUB TRANSPTRN-A 06.0000 07/01/2053 | 0.16% |
| PA TPK 2ND SER SPL 05.0000 12/01/2031 | 0.16% |
| KAREGNONDI WTR AUTH 05.0000 11/01/2036 | 0.16% |
| PHOENIX IMPT CAB-B 05.5000 07/01/2043 | 0.16% |
| ATLANTA TAX ALLOC-REF 05.0000 12/01/2022 | 0.16% |
| DIST OF COLUMBIA- REV 05.0000 07/01/2049 | 0.16% |
| ST PAUL PORT AUTH-7 P/P 144A 04.5000 10/01/2037 | 0.16% |
| NJ ECON DEV AUTH-REF 05.0000 06/01/2037 | 0.15% |
| SOUTHEASTERN OH PORT 05.7500 12/01/2032 | 0.15% |
| CHICAGO O'HARE ARPT-A 05.0000 01/01/2037 | 0.15% |
| SAN ANTONIO ARPT-IMPT 05.2500 07/01/2032 | 0.15% |
| OHIO HOSP FAC-A-REF 04.0000 01/01/2034 | 0.15% |
| CHICAGO WTR-UNREF-REF 05.0000 11/01/2025 | 0.15% |
| ALLEGHENY CNTY-C77 04.0000 11/01/2035 | 0.15% |
| GLOUCESTER WST-A-RMKT 02.4000 09/01/2038 | 0.14% |
| HARRIS CULTURAL EDU-A 05.0000 06/01/2028 | 0.14% |
| ABAG FIN AUTH-A-REF 05.0000 07/01/2042 | 0.14% |
| ILLINOIS ST 05.0000 11/01/2041 | 0.14% |
| LOUISVILLE & JEFFERSO 05.0000 10/01/2030 | 0.14% |
| PITTSBURGH PA WTRSWR 05.0000 09/01/2033 | 0.14% |
| MASS ED FIN AUTH -B 05.7000 01/01/2031 | 0.14% |
| KAREGNONDI WTR AUTH 05.0000 11/01/2031 | 0.14% |
| PITTSBURGH PA WTRSWR 05.0000 09/01/2032 | 0.14% |
| HOUSTON HGR ED-A 05.0000 02/15/2032 | 0.14% |
| ARLINGTON HGR EDU-A 05.0000 12/01/2033 | 0.14% |
| MONTGOMERY CNTY TOLL 05.0000 09/15/2034 | 0.14% |
| WARREN CO-A-REF 04.0000 07/01/2034 | 0.14% |
| FLINT HSP-HURLEY MED 07.3750 07/01/2035 | 0.13% |
| VA ST BUSINESS FING 05.0000 07/01/2034 | 0.13% |
| MS SLDWST-WST MGMT IN 02.2000 03/01/2027 | 0.13% |
| JEFFERSON CO SWR-D 06.5000 10/01/2053 | 0.12% |
| MYRTLE BEACH SC TAX I 05.0000 10/01/2029 | 0.12% |
| MI FIN AUTH-C-3-REF 05.0000 04/01/2026 | 0.12% |
| CLIFTON HGR EDU FIN 05.0000 08/15/2033 | 0.12% |
| GAINESVILLE HOSP-A 05.0000 02/15/2037 | 0.12% |
| PHILADELPHIA GAS WKS 05.0000 08/01/2031 | 0.12% |
| PHILADELPHIA GAS WKS 05.0000 08/01/2032 | 0.12% |
| RI HLTH & EDUCTNL-REF 05.0000 05/15/2033 | 0.12% |
| WI HLTH & EDUCTNL-REF 05.0000 08/15/2028 | 0.12% |
| LOUISVILLE ARPT-A-AMT 05.0000 07/01/2030 | 0.12% |
| NJ ECON-AMT-RF-D-NJ A 04.8750 11/01/2029 | 0.12% |
| COLORADO ST HLTH FACS 05.0000 05/15/2045 | 0.12% |
| COLORADO ST HLTH FACS 05.0000 12/01/2035 | 0.12% |
| MINNESOTA ST HGR EDU 04.0000 03/01/2035 | 0.12% |
| PHOENIX INDL DEV AUTH 05.0000 07/01/2036 | 0.12% |
| PORT OF SEATTLE-C-AMT 05.0000 04/01/2040 | 0.12% |
| DETROIT MI DOWNTOWN D 05.0000 07/01/2038 | 0.12% |
| ILLINOIS ST 05.0000 11/01/2034 | 0.12% |
| NEW HOPE CULTURAL EDU 04.0000 08/15/2034 | 0.12% |
| AZ IDA-D-REF P/P 144A 05.0000 07/01/2051 | 0.12% |
| FRANKLIN CNTY-A 06.1250 07/01/2040 | 0.12% |
| CHICAGO MTR FUEL TAX 05.0000 01/01/2033 | 0.11% |
| MI FIN AUTH-B-LOC GOV 05.0000 07/01/2044 | 0.11% |
| WARREN CO-A-REF 04.0000 07/01/2038 | 0.11% |
| PUBLIC FIN AUTH-REF 05.2500 07/01/2028 | 0.11% |
| DETROIT CITY SD-REF-A 05.0000 05/01/2031 | 0.11% |
| MAIN STREET NATURAL-A 05.0000 05/15/2022 | 0.11% |
| MI HSG DEV-D 03.9500 10/01/2037 | 0.11% |
| PHOENIX INDL DEV AUTH 05.0000 07/01/2044 | 0.11% |
| ST PUB SCH BULD AUTH 05.0000 04/01/2023 | 0.11% |
| ST PUB SCH BULD AUTH 05.0000 04/01/2024 | 0.11% |
| HAMILTON CO HLTH 05.0000 01/01/2032 | 0.11% |
| MARTIN CO DEV-REF 04.2000 12/15/2025 | 0.11% |
| DIST OF COLUMBIA UNIV 05.5000 04/01/2034 | 0.11% |
| MUNI ELEC AUTH OF GA 04.0000 01/01/2059 | 0.11% |
| WV ECON DEV SLDWST 05.3750 12/01/2038 | 0.11% |
| DC BALLPARK-SER B1 05.0000 02/01/2025 | 0.11% |
| KY PPTY & BLDGS-B 05.0000 05/01/2029 | 0.11% |
| SAGINAW HOSP 05.0000 07/01/2030 | 0.11% |
| CA INFRA & ECON DEV-B 01.7910 08/01/2047 | 0.10% |
| E-470 HWY-B-LIBOR 02.3970 09/01/2039 | 0.10% |
| IN FIN AUTH-B-REF 05.0000 02/01/2027 | 0.10% |
| OWEN WTRWKS SER A-KY 06.2500 06/01/2039 | 0.10% |
| CT HSG FIN AUTH-F2 02.2000 05/15/2023 | 0.10% |
| CHICAGO BOE CAB-B-1 00.0000 12/01/2021 | 0.10% |
| DOUBLE BRANCH CDD-A1 04.2500 05/01/2034 | 0.10% |
| ATLANTA TAX ALLOC-REF 05.0000 12/01/2024 | 0.10% |
| COLUMBUS SWR-ADJ-B 01.3600 06/01/2032 | 0.10% |
| MICHIGAN ST FIN AUTH 04.5000 10/01/2029 | 0.10% |
| MA HSG FIN-A 05.1000 12/01/2030 | 0.09% |
| SC PUB SVC AUTH-A-REF 05.0000 12/01/2025 | 0.09% |
| LEE CNTY FL INDL DEV 05.0000 11/15/2039 | 0.09% |
| LOWER COLORADO RIVER 05.0000 05/15/2040 | 0.09% |
| TREASURY BILL 00.0000 12/12/2019 | 0.09% |
| GAITHERSBURG ECON-A 05.0000 01/01/2036 | 0.09% |
| LEXINGTON HLTH SVCS 04.0000 11/01/2031 | 0.09% |
| MONROE CO INDL DEV-C 04.0000 07/01/2036 | 0.09% |
| UTAH ST CHRT SCH FIN 05.0000 10/15/2038 | 0.09% |
| HARRIS CULTURAL ED-B1 01.3800 09/01/2031 | 0.09% |
| LEXINGTON HLTH SVCS 04.0000 11/01/2032 | 0.09% |
| MONTGOMERY CNTY TOLL 05.0000 09/15/2033 | 0.08% |
| NEW HOPE ED FACS 05.5000 01/01/2043 | 0.08% |
| ST TAMMANY HOSP-A-REF 05.0000 07/01/2034 | 0.08% |
| VIRGINIA ST CMWLTH-B 04.0000 07/01/2040 | 0.08% |
| REGL TRN-DENVER TRN 06.0000 01/15/2041 | 0.08% |
| ILLINOIS ST 05.0000 01/01/2041 | 0.08% |
| AZ HLTH-KIRKSVL CLG 05.1250 01/01/2030 | 0.08% |
| CO HLTH FACS AUTH 05.5000 06/01/2033 | 0.08% |
| MI PUB PWR-A 05.0000 01/01/2027 | 0.08% |
| MONROE CO INDL DEV-D 04.0000 07/01/2034 | 0.08% |
| SCIOTO CO HOSP FACS 05.0000 02/15/2034 | 0.08% |
| FAIRFAX CNTY VA ECON 05.0000 10/01/2036 | 0.08% |
| CA STWD CMNTYS DEV-A 05.2500 11/01/2044 | 0.08% |
| CENTRL TX REGL MOBILITY 05.0000 01/01/2033 | 0.07% |
| MARICOPA CNTY AZ INDL 05.0000 07/01/2048 | 0.07% |
| NH HLTH & EDU FACS 05.0000 10/01/2046 | 0.07% |
| KY PPTY & BLDGS-B 05.0000 05/01/2028 | 0.07% |
| SALT VERDE FNL CORP 05.0000 12/01/2037 | 0.07% |
| CLARK IMPT DIST-REF 05.0000 08/01/2020 | 0.07% |
| UTAH ST CHRT SCH FIN 05.0000 10/15/2031 | 0.07% |
| MARLAND ECON DEV CORP 05.0000 06/01/2044 | 0.06% |
| MARLAND ECON DEV CORP 05.0000 06/01/2049 | 0.06% |
| CENTRE CO HOSP-A-REF 05.0000 11/15/2041 | 0.06% |
| MI FIN AUTH-C-3-REF 05.0000 04/01/2024 | 0.06% |
| MI FIN AUTH-H-1-REF 05.0000 10/01/2030 | 0.06% |
| MONROE CO INDL DEV-D 04.0000 07/01/2036 | 0.06% |
| E HEMPFIELD TWP IDA 05.0000 07/01/2029 | 0.06% |
| IL FIN AUTH-A 05.0000 02/15/2047 | 0.06% |
| MI FIN AUTH-B-LOC GOV 05.0000 07/01/2034 | 0.06% |
| GUAM PWR AUTH-A-REF 05.0000 10/01/2030 | 0.06% |
| OAKLAND UNIV-A 05.0000 03/01/2033 | 0.06% |
| WARREN CO-A-REF 04.0000 07/01/2039 | 0.06% |
| IL FIN AUTH 04.0000 11/15/2031 | 0.06% |
| S E OVERTOWN PK P/P 144A 05.0000 03/01/2030 | 0.06% |
| AZ SPORTS-A-REF-SR 05.0000 07/01/2030 | 0.06% |
| MYRTLE BEACH SC TAX I 05.0000 10/01/2028 | 0.05% |
| PIMA IDA-RF-PROVIDENC 05.1250 12/01/2040 | 0.05% |
| GAINESVILLE ETC DEV 05.0000 03/01/2037 | 0.05% |
| UTAH ST CHRT SCH FIN 05.0000 10/15/2033 | 0.05% |
| HENRICO ECON DEV-REF 05.0000 06/01/2023 | 0.05% |
| LOUISVILLE ARPT-A-AMT 05.0000 07/01/2031 | 0.05% |
| NTHRN AZ UNIV 05.0000 06/01/2036 | 0.05% |
| GRAND RAPIDS WTR-REF 05.0000 01/01/2041 | 0.05% |
| MI FIN AUTH-D-2 05.0000 07/01/2034 | 0.05% |
| YUMA IDA-A 05.2500 08/01/2032 | 0.05% |
| MINNESOTA ST HGR EDU 04.0000 03/01/2036 | 0.05% |
| CLIFTON HGR EDU FIN 05.0000 08/15/2027 | 0.05% |
| HENRICO ECON DEV-REF 05.0000 06/01/2025 | 0.05% |
| JEFFERSON CO-REV-REF 05.0000 09/15/2033 | 0.04% |
| MI ST STRATEGIC-REF 05.2500 06/01/2032 | 0.04% |
| ARLINGTON HGR EDU-A 04.0000 12/01/2031 | 0.04% |
| SCIOTO CO HOSP FACS 05.0000 02/15/2033 | 0.04% |
| WARREN SD-A-REF 05.0000 05/01/2035 | 0.04% |
| DETROIT SD REF-C-BHAC 05.2500 05/01/2025 | 0.04% |
| MAIN ST NAT GAS INC-A 05.5000 09/15/2021 | 0.04% |
| PORT NY/NJ 5TH-KIAC-4 06.7500 10/01/2019 | 0.04% |
| 1.245 R ISWP FWD MUNIPSA P 07/12/2025 CI | 0.04% |
| KENTWOOD ECON DEV-REF 05.6250 11/15/2032 | 0.04% |
| MARICOPA IDA-REF 05.0000 07/01/2035 | 0.04% |
| ALLEGHENY CNTY-C77 04.0000 11/01/2033 | 0.04% |
| BELDING SCHS-A-REF 05.0000 05/01/2040 | 0.04% |
| PA ST HSG FIN AGY-REF 03.9500 10/01/2030 | 0.04% |
| MI FIN AUTH-C-6 05.0000 07/01/2033 | 0.03% |
| SALT LAKE LKD PARS & 06.7500 05/15/2020 | 0.03% |
| CHIPPEWA VLY SCHS-A 05.0000 05/01/2034 | 0.03% |
| GRAND VLY MI ST UNIV 05.0000 12/01/2032 | 0.03% |
| NYC IDA QUEENS BASEBA 05.0000 01/01/2023 | 0.03% |
| ROCHESTER SD-I 05.0000 05/01/2036 | 0.03% |
| SA ENERGY ACQ PUB FAC 05.5000 08/01/2025 | 0.03% |
| GENESEE CO-WTR SPLY-B 05.0000 02/01/2033 | 0.03% |
| KENTWOOD SCHS-BLDG 05.0000 05/01/2041 | 0.03% |
| LAKE HAVASU CITY AZ-B 05.0000 07/01/2043 | 0.03% |
| KAREGNONDI WTR AUTH-A 05.2500 11/01/2031 | 0.03% |
| MARICOPA IDA 05.0000 07/01/2036 | 0.03% |
| NTHRN AZ UNIV-REF 05.0000 06/01/2034 | 0.03% |
| YAVAPAI INDL DEV 05.0000 03/01/2032 | 0.03% |
| AZ GAME/FISH AGF ADMI 05.0000 07/01/2021 | 0.03% |
| EL MIRAGE 05.0000 07/01/2042 | 0.03% |
| GUAM GOVT HOTEL-A 06.0000 11/01/2026 | 0.03% |
| MICHIGAN ST FIN AUTH 05.0000 12/01/2045 | 0.03% |
| LANSING SD-I-BLDG 05.0000 05/01/2041 | 0.03% |
| TEXAS MUNI PWR AGY 05.0000 09/01/2037 | 0.03% |
| MARICOPA INDL-WSTE MG 03.3750 12/01/2031 | 0.03% |
| PARK CREEK CO MET-A 05.0000 12/01/2045 | 0.03% |
| CHICAGO O'HARE ARPT-A 05.0000 01/01/2038 | 0.02% |
| MI HSG DEV-A 04.6250 10/01/2039 | 0.02% |
| ARIZONA BRD OF RGTS 05.0000 07/01/2041 | 0.02% |
| GENESEE CO-WTR SPLY 05.2500 02/01/2040 | 0.02% |
| LINCOLN SD-A-REF 05.0000 05/01/2040 | 0.02% |
| LIVONIA PUB SD-II 05.0000 05/01/2045 | 0.02% |
| CHICAGO MTR FUEL TAX 05.0000 01/01/2030 | 0.02% |
| GUAM PWR AUTH-A-REF 05.0000 10/01/2034 | 0.02% |
| MMD AAA R SP 0.0 10/17/19 MS | 0.02% |
| MMD AAA R SP 0.0 10/22/19 MS | 0.02% |
| PHOENIX INDL DEV AUTH 03.7500 07/01/2024 | 0.02% |
| PHOENIX IDA-A P/P 144A 05.0000 07/01/2035 | 0.02% |
| FLINT HSP-HURLEY MED 07.5000 07/01/2039 | 0.02% |
| SOUTHEASTERN OH PORT 05.5000 12/01/2043 | 0.02% |
| OAKLAND UNIV-REF 05.0000 03/01/2032 | 0.02% |
| CUMBERLAND CNTY PA MU 05.0000 01/01/2032 | 0.01% |
| TREASURY BILL 00.0000 03/12/2020 | 0.01% |
| CUMBERLAND CNTY PA MU 05.0000 01/01/2031 | 0.01% |
| TREASURY BILL 00.0000 10/10/2019 | 0.01% |
| YAVAPAI CO IDA-A 05.2500 08/01/2033 | 0.01% |
| MI HSG DEV-A 04.4500 10/01/2034 | 0.01% |
| PHOENIX INDL DEV AUT P/P 144A 05.0000 07/01/2035 | 0.01% |
| PHOENIX IDA 04.8750 09/01/2022 | 0.01% |
| MMD AAA R SP 0.0 10/17/19 CI | 0.01% |
| STUB 05.2500 04/01/2024 | 0.01% |
| MMD AAA R SP 0.0 11/07/19 CI | 0.01% |
| HUDSON YDS INFR-PRERF 05.7500 02/15/2047 | 0.01% |
| TREASURY BILL 00.0000 11/07/2019 | 0.00% |
| CASA GRANDE IDA-REF-A ESCROW 07.6250 12/01/2029 | 0.00% |
| DETROIT WTR-B-UNREF 06.2500 07/01/2036 | 0.00% |
| MMD AAA R SP 0.0 11/12/19 CI | 0.00% |
| MMD AAA R SP 0.0 01/02/20 CI | 0.00% |
| 1.46 P ISWP FWD MUNIPSA R 01/02/2050 CI | -0.00% |
| MMD AAA R SP 0.0 12/10/19 CI | -0.01% |
| MMD AAA P SP 0.0 06/02/20 CI | -0.02% |
| MMD AAA P SP 0.0 06/04/20 MS | -0.03% |
| MMD AAA P SP 0.0 06/04/20 CI | -0.05% |
| 1.737 P ISWP FWD MUNIPSA R 07/12/2040 CI | -0.06% |
| US ULTRA BOND CBT DEC19 WNZ9 | -0.26% |
| SC TRANSPRTN-2003B 01.8500 10/01/2031 | 2.00% |
| FEDERAL HOME LOAN MTG 02.5500 06/15/2035 | 1.60% |
| HENRICO INDL-REG LINK 05.9290 08/23/2027 | 1.28% |
| N TX TWY CAB-REF-I 06.5000 01/01/2043 | 1.25% |
| MIAMI-DADE CNTY REV 05.0000 10/01/2040 | 1.24% |
| CALIFORNIA ST-B-TXBL 02.1930 04/01/2047 | 1.16% |
| KY PUB ENERGY-C-1 04.0000 12/01/2049 | 1.12% |
| ILLINOIS ST-D 05.0000 11/01/2026 | 1.10% |
| DALLAS AREA RAPID-A 05.0000 12/01/2046 | 1.10% |
| MS BUSINESS FIN-REF 02.5000 04/01/2022 | 1.03% |
| SAN BERNARDIO OBLG-C 02.3190 08/01/2023 | 1.01% |
| GREAT LAKES WTR-C-REF 05.0000 07/01/2036 | 0.95% |
| CENTRL PLAINS ENERGY 05.0000 03/01/2050 | 0.94% |
| ILLINOIS ST SALES TAX 04.0000 06/15/2020 | 0.92% |
| E-470 PUB HWY-CAB-A 00.0000 09/01/2034 | 0.92% |
| LANCASTER OH PORT AUT 05.0000 08/01/2049 | 0.91% |
| WHITING IN ENVRNMNTL 05.0000 12/01/2044 | 0.88% |
| DALLAS ETC ARPRT-A 05.0000 11/01/2043 | 0.85% |
| IL FIN AUTH-VAR-REF 01.9210 11/01/2034 | 0.82% |
| NJ TRN FD CAB-SER C 00.0000 12/15/2024 | 0.82% |
| DETROIT MI DOWNTOWN D 05.0000 07/01/2048 | 0.81% |
| HARRIS CULT ED VAR-C1 01.2500 12/01/2024 | 0.77% |
| ID HSG & FIN 04.0000 07/15/2030 | 0.76% |
| ILLINOIS ST 05.0000 11/01/2029 | 0.75% |
| TRIBOROUGH BRIDGE-D 01.9000 11/15/2038 | 0.72% |
| HOUSTON TX UTL SYS-A 05.0000 11/15/2033 | 0.70% |
| IN BD BK SER A 05.2500 10/15/2021 | 0.68% |
| LOUISVILLE & JEFFERSO 04.0000 10/01/2034 | 0.68% |
| MIAMI-DADE CO-D 05.0000 07/01/2045 | 0.67% |
| MURRAY CITY HSP-IHC-C 01.2200 05/15/2036 | 0.67% |
| NEW JERSEY ST ECON DE 05.0000 11/01/2026 | 0.67% |
| MET TRANS AUTH-C1-REF 04.0000 11/15/2032 | 0.66% |
| TRIBOROUGH BRIDGE-B 01.8500 01/01/2032 | 0.66% |
| MET WA ARPTS-CABS-A 00.0000 10/01/2037 | 0.64% |
| MI FIN AUTH-H-1-REF 05.0000 10/01/2039 | 0.62% |
| SALT LAKE CITY ARPT-A 05.0000 07/01/2043 | 0.62% |
| PA TNPK CMMN-A 05.0000 12/01/2044 | 0.62% |
| PORT TXB-PENSION-C 07.7010 06/01/2022 | 0.61% |
| PALM BEACH HLTH-REF 05.0000 11/15/2032 | 0.61% |
| TEXAS PRIV ACTIVITY 05.0000 06/30/2058 | 0.61% |
| OHIO ST-A 04.0000 02/01/2033 | 0.60% |
| DALLAS-FT WORTH ARPT 05.2500 11/01/2030 | 0.59% |
| MAIN ST NATURAL GAS-B 04.0000 08/01/2049 | 0.58% |
| TEXAS ST-TRANS 04.0000 08/27/2020 | 0.58% |
| SOUTHCENTRL PA GEN AU 04.0000 06/01/2049 | 0.58% |
| CHICAGO HSG AUTH-A 05.0000 01/01/2031 | 0.58% |
| KY PUB ENERGY AUTH-B 04.0000 01/01/2049 | 0.58% |
| KING CO PUB HOSP DT 1 05.0000 12/01/2037 | 0.57% |
| SALES TAX SECURTZTN-C 05.5000 01/01/2036 | 0.56% |
| MURRAY CITY HSP-VAR-A 01.2500 05/15/2037 | 0.54% |
| NH HLTH &EDU FACS-REF 05.0000 10/01/2037 | 0.54% |
| TENNERGY CORP TN GAS 05.0000 02/01/2050 | 0.54% |
| PA TURNPIKE COMM-CONV 00.0000 12/01/2044 | 0.54% |
| PA ECON DEV-A-WASTE 01.7000 08/01/2037 | 0.54% |
| MIAMI-DADE CNTY AVTN 05.0000 10/01/2041 | 0.53% |
| TNDR OPT-RSDL-XF0805 P/P 05.0400 08/01/2037 | 0.53% |
| UNION UTILS-A-REF 05.2500 12/01/2031 | 0.53% |
| MET GOVT ETC-D-TXBL 04.5670 07/01/2046 | 0.53% |
| MET TRANS AUTH-A2A 01.7300 11/01/2026 | 0.52% |
| IN FIN AUTH-AMT-A-REF 01.4000 05/01/2034 | 0.51% |
| KANSAS CITY ARPT-B 05.0000 03/01/2037 | 0.51% |
| ALLEGHENY HOSP DEV-A 05.0000 04/01/2033 | 0.51% |
| PORT AUTH OF NEW YORK 05.0000 09/15/2031 | 0.49% |
| TOBACCO SETTLEMENT-A 05.0000 06/01/2035 | 0.49% |
| GAINESVILLE HOSP-A 05.0000 02/15/2036 | 0.49% |
| SC PUB SVC AUTH-A-REF 05.0000 12/01/2036 | 0.49% |
| FARMINGTON PCR-B 04.7000 09/01/2024 | 0.48% |
| PATRIOTS ENERGY GROUP 04.0000 10/01/2048 | 0.48% |
| GLENDALE INDL-MIDWEST 05.1250 05/15/2040 | 0.47% |
| CHICAGO 2002B 05.5000 01/01/2037 | 0.46% |
| DC-KIPP-SER A-REF 05.0000 07/01/2037 | 0.46% |
| NJ TRANSPRTN TRUST-A 05.0000 12/15/2034 | 0.46% |
| HALIFAX HOSP MED-REF 05.0000 06/01/2036 | 0.45% |
| VA SMALL BUSINESS FIN 05.0000 01/01/2044 | 0.44% |
| TEXAS CITY ARCO PIPE 07.3750 10/01/2020 | 0.44% |
| TN ENERGY 05.2500 09/01/2020 | 0.43% |
| BUCKEYE TOB ASSET-A-2 05.7500 06/01/2034 | 0.41% |
| GLENDALE INDL DEV-REF 05.0000 05/15/2039 | 0.41% |
| NYC-ADJ-SER I-SUB I-3 01.2900 04/01/2036 | 0.41% |
| TRIBOROUGH BRIDGE-B2 01.2000 01/01/2032 | 0.41% |
| GA MUNI ELEC AUTH-A 05.5000 07/01/2060 | 0.40% |
| MTA-D1-TRANSPRTN 05.0000 11/15/2039 | 0.40% |
| CA POLL CNTRL-AMT P/P 144A 05.0000 11/21/2045 | 0.39% |
| CHICAGO ARPT-F 05.0000 01/01/2040 | 0.38% |
| RVRSIDE LSE CORP-HOSP 00.0000 06/01/2025 | 0.37% |
| MSR ENERGY 06.5000 11/01/2039 | 0.37% |
| NEW JERSEY ST ECON DE 05.0000 10/01/2037 | 0.36% |
| TOB SETTLEMT FING-B 05.0000 06/01/2050 | 0.36% |
| CHICAGO IL 06.0000 01/01/2038 | 0.36% |
| PA TURNPIKE COMMN 05.0000 12/01/2044 | 0.35% |
| KAREGNONDI WTR AUTH-A 05.2500 11/01/2030 | 0.35% |
| MIAMI-DADE CO-A 04.0000 10/01/2044 | 0.35% |
| ILLINOIS ST 05.0000 12/01/2031 | 0.34% |
| CHICAGO WSTWTR 05.0000 01/01/2044 | 0.34% |
| MIAMI-DADE-SALES TAX 05.0000 07/01/2042 | 0.34% |
| KY ECON DEV-A-REF 05.0000 12/01/2045 | 0.34% |
| TARRANT CNTY TX CULTU 05.0000 11/15/2037 | 0.33% |
| NJ TRANSN TR FD-A 06.0000 06/15/2035 | 0.33% |
| MICHIGAN FIN AUTH 05.0000 11/01/2044 | 0.33% |
| JEFFERSON CO-REV-REF 05.0000 09/15/2034 | 0.32% |
| DIST COLUM REV-UNREF 06.5000 10/01/2041 | 0.32% |
| KANSAS CITY ARPT-B 05.0000 03/01/2038 | 0.32% |
| PITTSBURGH SPORTS-REF 05.0000 02/01/2035 | 0.32% |
| KY PPTY & BLDGS 05.0000 05/01/2037 | 0.31% |
| CHICAGO WSTWTR 05.0000 01/01/2039 | 0.31% |
| MTA HUDSON RAIL YRD-A 05.0000 11/15/2046 | 0.30% |
| KS DEV-LIFESPACE-S 05.0000 05/15/2030 | 0.30% |
| CLEVELAND ETC PORT 05.5000 12/01/2053 | 0.30% |
| RAILSPLITTER TOBACCO 05.0000 06/01/2024 | 0.30% |
| ALLEGHENY HOSP DEV-A 05.0000 04/01/2035 | 0.29% |
| MET PIER & EXPOSITION 05.0000 06/15/2057 | 0.29% |
| ILLINOIS ST-REF 05.0000 02/01/2028 | 0.28% |
| MATAGORDA NAV 1-RF-A 04.4000 05/01/2030 | 0.28% |
| MA HLTH-NORTHESTN-A 05.0000 10/01/2035 | 0.28% |
| HOUSTON UTL SYS-D-REF 05.0000 11/15/2039 | 0.27% |
| NJ TRANSPRTN TRUST-A 05.0000 12/15/2035 | 0.27% |
| DALLAS AREA RAPID-A 05.0000 12/01/2041 | 0.27% |
| PA TNPK CMMN-A 05.0000 12/01/2038 | 0.27% |
| KENTWOOD MI ECON DEV 05.0000 11/15/2037 | 0.26% |
| SALT VERDE FNL CORP 05.5000 12/01/2029 | 0.26% |
| WASHINGTON ST HLTH CA 02.5180 01/01/2042 | 0.26% |
| GRANT CNTY WA PUBLIC 02.0000 01/01/2044 | 0.26% |
| KANSAS CITY ARPT-B 05.0000 03/01/2039 | 0.26% |
| LAKELAND HOSP 05.0000 11/15/2040 | 0.26% |
| FULTON DEV AUTH-A-REF 05.0000 10/01/2042 | 0.25% |
| DIST OF COLUMBIA- REV 05.0000 07/01/2039 | 0.25% |
| PA TPK 2ND SER REF 05.0000 12/01/2036 | 0.25% |
| IL ST-REF 05.0000 08/01/2021 | 0.24% |
| ILLINOIS ST 05.0000 10/01/2032 | 0.24% |
| ILLINOIS ST 05.0000 12/01/2028 | 0.24% |
| NEW YORK CITY MUNI FI 05.0000 06/15/2046 | 0.24% |
| GAINESVILLE ETC DEV 05.0000 03/01/2047 | 0.24% |
| CHANDLER AZ INDL DEV 05.0000 06/01/2049 | 0.24% |
| CLIFTON HGR EDU FIN 04.0000 08/15/2031 | 0.24% |
| SOUTH CAROLINA ST PUB 05.2500 12/01/2055 | 0.24% |
| SC PUB SVC AUTH-A 05.5000 12/01/2054 | 0.24% |
| SEATTLE SOL WST-REV 04.0000 06/01/2032 | 0.23% |
| BEXAR CO-REF 04.0000 06/15/2034 | 0.23% |
| MA DEV FIN AGY-E-OLIN 05.0000 11/01/2043 | 0.23% |
| OAKLAND UNIV-REF 05.0000 03/01/2039 | 0.23% |
| SC PUB SVC AUTH-E 05.5000 12/01/2053 | 0.23% |
| NEW YORK TRANSPRTN-A 05.0000 07/01/2041 | 0.23% |
| SANTA FE RETMNT FAC 05.0000 05/15/2032 | 0.23% |
| DENVER-A-AMT-SUB-ARPT 05.5000 11/15/2031 | 0.23% |
| INDIANA ST FIN AUTH 04.0000 11/01/2043 | 0.23% |
| MO DEV FIN BRD-A 05.0000 06/01/2037 | 0.22% |
| DETROIT WTR & SWR-A 05.0000 07/01/2032 | 0.22% |
| DIST OF COLUMBIA UNIV 05.5000 04/01/2041 | 0.22% |
| LEE CNTY FL INDL DEV 05.0000 11/15/2044 | 0.22% |
| ST TAMMANY HOSP-A-REF 05.0000 07/01/2036 | 0.22% |
| ST TAMMANY HOSP-A-REF 05.0000 07/01/2035 | 0.22% |
| CHICAGO WTRWKS-REMK 05.0000 11/01/2029 | 0.22% |
| FRANKLIN CNTY-A 06.0000 07/01/2035 | 0.22% |
| DELAWARE ECON DEV AUT 05.3750 10/01/2045 | 0.21% |
| PORT AUTH OF NY/NJ 04.5000 04/01/2037 | 0.21% |
| MA DEV-SUFFOLK UNIV 05.1250 07/01/2040 | 0.21% |
| NJ ECON-B-RF-NJ AMERN 05.6000 11/01/2034 | 0.21% |
| MIAMI-DADE AVIATION-A 05.0000 10/01/2038 | 0.21% |
| PA TURNPIKE-B1 05.0000 06/01/2042 | 0.21% |
| OHIO-AMT-PORTSMOUTH 05.0000 12/31/2035 | 0.21% |
| ORANGE CO HLTH FACS 05.0000 08/01/2034 | 0.21% |
| IN ST FIN AUTH-REPUBL 01.4000 12/01/2037 | 0.20% |
| TRIBORO BRIDGE-F-REF 01.2000 11/01/2032 | 0.20% |
| LAKELAND HOSP 05.0000 11/15/2045 | 0.20% |
| DE HLTH FACS AUTH-A 04.0000 07/01/2040 | 0.20% |
| CA POLL FING AUTH 04.7500 11/01/2046 | 0.20% |
| KAREGNONDI WTR AUTH 05.0000 11/01/2034 | 0.20% |
| GREATER CHICAGO MET-E 05.0000 12/01/2029 | 0.20% |
| TNDR OPT-RSDL-XF0804 P/P 05.7500 08/01/2049 | 0.20% |
| MAIN STREET NATURAL-A 05.0000 05/15/2033 | 0.19% |
| NEW HOPE CULT EDU-B1 04.0000 07/01/2048 | 0.19% |
| ID HLTH FACS-A-REF 05.0000 03/01/2037 | 0.19% |
| TEXAS MUNI PWR AGY 05.0000 09/01/2047 | 0.19% |
| NEW HAMPSHIRE ST HLTH 05.0000 07/01/2044 | 0.18% |
| TNDR OPT-RSDL-XF0742 P/P 11.5700 12/01/2047 | 0.18% |
| DE ECON-REF-GAS FACS 05.4000 02/01/2031 | 0.18% |
| CALIFORNIA STWD CMNTY 05.0000 11/15/2044 | 0.18% |
| MI ST FIN AUTH 05.0000 11/15/2042 | 0.18% |
| MONROE CO INDL DEV-C 04.0000 07/01/2035 | 0.18% |
| CT HLTH & EDU-F-REF 05.0000 07/01/2034 | 0.18% |
| VIRGINIA ST CMWLTH-B 04.0000 07/01/2036 | 0.18% |
| MI STRAT FD-WORTHINGT 05.7500 10/01/2022 | 0.17% |
| VIRGINIA ST CMWLTH-B 04.0000 07/01/2037 | 0.17% |
| TX PRIVATE ACTIVITY 06.8750 12/31/2039 | 0.17% |
| GILLIAM WST VAR-A-CON 02.4000 08/01/2025 | 0.17% |
| CHICAGO BOE-C-PROJ 05.2500 12/01/2039 | 0.17% |
| MI STRAT REF DETRO-BB 07.0000 05/01/2021 | 0.17% |
| OHIO HOSP FAC-A-REF 04.0000 01/01/2043 | 0.17% |
| MIDDLEBURG HGHTS HOSP 05.0000 08/01/2047 | 0.17% |
| SC PUB SVC AUTH-E 05.0000 12/01/2048 | 0.17% |
| PA TPK 2ND SER SPL 05.0000 12/01/2031 | 0.16% |
| KY PUB TRANSPTRN-A 06.0000 07/01/2053 | 0.16% |
| PHOENIX IMPT CAB-B 05.5000 07/01/2043 | 0.16% |
| KAREGNONDI WTR AUTH 05.0000 11/01/2036 | 0.16% |
| DIST OF COLUMBIA- REV 05.0000 07/01/2049 | 0.16% |
| ATLANTA TAX ALLOC-REF 05.0000 12/01/2022 | 0.16% |
| ST PAUL PORT AUTH-7 P/P 144A 04.5000 10/01/2037 | 0.16% |
| NJ ECON DEV AUTH-REF 05.0000 06/01/2037 | 0.15% |
| SOUTHEASTERN OH PORT 05.7500 12/01/2032 | 0.15% |
| CHICAGO O'HARE ARPT-A 05.0000 01/01/2037 | 0.15% |
| MD HLTH & HGR EDU FAC 05.0000 07/01/2040 | 0.15% |
| OHIO HOSP FAC-A-REF 04.0000 01/01/2034 | 0.15% |
| SAN ANTONIO ARPT-IMPT 05.2500 07/01/2032 | 0.15% |
| ALLEGHENY CNTY-C77 04.0000 11/01/2035 | 0.15% |
| CHICAGO WTR-UNREF-REF 05.0000 11/01/2025 | 0.15% |
| GLOUCESTER WST-A-RMKT 02.4000 09/01/2038 | 0.14% |
| HARRIS CULTURAL EDU-A 05.0000 06/01/2028 | 0.14% |
| ILLINOIS ST 05.0000 11/01/2041 | 0.14% |
| ABAG FIN AUTH-A-REF 05.0000 07/01/2042 | 0.14% |
| LOUISVILLE & JEFFERSO 05.0000 10/01/2030 | 0.14% |
| PITTSBURGH PA WTRSWR 05.0000 09/01/2033 | 0.14% |
| KAREGNONDI WTR AUTH 05.0000 11/01/2031 | 0.14% |
| PITTSBURGH PA WTRSWR 05.0000 09/01/2032 | 0.14% |
| TOBACCO FING-A-REF 05.0000 05/15/2023 | 0.14% |
| MASS ED FIN AUTH -B 05.7000 01/01/2031 | 0.14% |
| ARLINGTON HGR EDU-A 05.0000 12/01/2033 | 0.14% |
| HOUSTON HGR ED-A 05.0000 02/15/2032 | 0.14% |
| MONTGOMERY CNTY TOLL 05.0000 09/15/2034 | 0.14% |
| WARREN CO-A-REF 04.0000 07/01/2034 | 0.14% |
| FLINT HSP-HURLEY MED 07.3750 07/01/2035 | 0.13% |
| VA ST BUSINESS FING 05.0000 07/01/2034 | 0.13% |
| MS SLDWST-WST MGMT IN 02.2000 03/01/2027 | 0.13% |
| JEFFERSON CO SWR-D 06.5000 10/01/2053 | 0.12% |
| MYRTLE BEACH SC TAX I 05.0000 10/01/2029 | 0.12% |
| MI FIN AUTH-C-3-REF 05.0000 04/01/2026 | 0.12% |
| CLIFTON HGR EDU FIN 05.0000 08/15/2033 | 0.12% |
| GAINESVILLE HOSP-A 05.0000 02/15/2037 | 0.12% |
| PHILADELPHIA GAS WKS 05.0000 08/01/2031 | 0.12% |
| PHILADELPHIA GAS WKS 05.0000 08/01/2032 | 0.12% |
| RI HLTH & EDUCTNL-REF 05.0000 05/15/2033 | 0.12% |
| WI HLTH & EDUCTNL-REF 05.0000 08/15/2028 | 0.12% |
| COLORADO ST HLTH FACS 05.0000 12/01/2035 | 0.12% |
| LOUISVILLE ARPT-A-AMT 05.0000 07/01/2030 | 0.12% |
| MINNESOTA ST HGR EDU 04.0000 03/01/2035 | 0.12% |
| COLORADO ST HLTH FACS 05.0000 05/15/2045 | 0.12% |
| ILLINOIS ST 05.0000 11/01/2034 | 0.12% |
| NJ ECON-AMT-RF-D-NJ A 04.8750 11/01/2029 | 0.12% |
| PHOENIX INDL DEV AUTH 05.0000 07/01/2036 | 0.12% |
| PORT OF SEATTLE-C-AMT 05.0000 04/01/2040 | 0.12% |
| DETROIT MI DOWNTOWN D 05.0000 07/01/2038 | 0.12% |
| NEW HOPE CULTURAL EDU 04.0000 08/15/2034 | 0.12% |
| AZ IDA-D-REF P/P 144A 05.0000 07/01/2051 | 0.12% |
| CHICAGO MTR FUEL TAX 05.0000 01/01/2033 | 0.11% |
| FRANKLIN CNTY-A 06.1250 07/01/2040 | 0.11% |
| MI FIN AUTH-B-LOC GOV 05.0000 07/01/2044 | 0.11% |
| WARREN CO-A-REF 04.0000 07/01/2038 | 0.11% |
| PUBLIC FIN AUTH-REF 05.2500 07/01/2028 | 0.11% |
| DETROIT CITY SD-REF-A 05.0000 05/01/2031 | 0.11% |
| MAIN STREET NATURAL-A 05.0000 05/15/2022 | 0.11% |
| MI HSG DEV-D 03.9500 10/01/2037 | 0.11% |
| PHOENIX INDL DEV AUTH 05.0000 07/01/2044 | 0.11% |
| ST PUB SCH BULD AUTH 05.0000 04/01/2023 | 0.11% |
| ST PUB SCH BULD AUTH 05.0000 04/01/2024 | 0.11% |
| HAMILTON CO HLTH 05.0000 01/01/2032 | 0.11% |
| MARTIN CO DEV-REF 04.2000 12/15/2025 | 0.11% |
| DIST OF COLUMBIA UNIV 05.5000 04/01/2034 | 0.11% |
| WV ECON DEV SLDWST 05.3750 12/01/2038 | 0.11% |
| DC BALLPARK-SER B1 05.0000 02/01/2025 | 0.11% |
| KY PPTY & BLDGS-B 05.0000 05/01/2029 | 0.11% |
| SAGINAW HOSP 05.0000 07/01/2030 | 0.11% |
| IN FIN AUTH-B-REF 05.0000 02/01/2027 | 0.10% |
| CA INFRA & ECON DEV-B 01.8370 08/01/2047 | 0.10% |
| E-470 HWY-B-LIBOR 02.4680 09/01/2039 | 0.10% |
| OWEN WTRWKS SER A-KY 06.2500 06/01/2039 | 0.10% |
| CT HSG FIN AUTH-F2 02.2000 05/15/2023 | 0.10% |
| ATLANTA TAX ALLOC-REF 05.0000 12/01/2024 | 0.10% |
| CHICAGO BOE CAB-B-1 00.0000 12/01/2021 | 0.10% |
| DOUBLE BRANCH CDD-A1 04.2500 05/01/2034 | 0.10% |
| COLUMBUS SWR-ADJ-B 01.2100 06/01/2032 | 0.10% |
| MICHIGAN ST FIN AUTH 04.5000 10/01/2029 | 0.10% |
| MA HSG FIN-A 05.1000 12/01/2030 | 0.09% |
| SC PUB SVC AUTH-A-REF 05.0000 12/01/2025 | 0.09% |
| LEE CNTY FL INDL DEV 05.0000 11/15/2039 | 0.09% |
| LOWER COLORADO RIVER 05.0000 05/15/2040 | 0.09% |
| GAITHERSBURG ECON-A 05.0000 01/01/2036 | 0.09% |
| LEXINGTON HLTH SVCS 04.0000 11/01/2031 | 0.09% |
| LEXINGTON HLTH SVCS 04.0000 11/01/2032 | 0.09% |
| MONROE CO INDL DEV-C 04.0000 07/01/2036 | 0.09% |
| UTAH ST CHRT SCH FIN 05.0000 10/15/2038 | 0.09% |
| HARRIS CULTURAL ED-B1 01.2300 09/01/2031 | 0.09% |
| MONTGOMERY CNTY TOLL 05.0000 09/15/2033 | 0.08% |
| NEW HOPE ED FACS 05.5000 01/01/2043 | 0.08% |
| ST TAMMANY HOSP-A-REF 05.0000 07/01/2034 | 0.08% |
| VIRGINIA ST CMWLTH-B 04.0000 07/01/2040 | 0.08% |
| ILLINOIS ST 05.0000 01/01/2041 | 0.08% |
| REGL TRN-DENVER TRN 06.0000 01/15/2041 | 0.08% |
| AZ HLTH-KIRKSVL CLG 05.1250 01/01/2030 | 0.08% |
| SCIOTO CO HOSP FACS 05.0000 02/15/2034 | 0.08% |
| CO HLTH FACS AUTH 05.5000 06/01/2033 | 0.08% |
| MI PUB PWR-A 05.0000 01/01/2027 | 0.08% |
| MONROE CO INDL DEV-D 04.0000 07/01/2034 | 0.08% |
| FAIRFAX CNTY VA ECON 05.0000 10/01/2036 | 0.08% |
| CA STWD CMNTYS DEV-A 05.2500 11/01/2044 | 0.08% |
| CENTRL TX REGL MOBILITY 05.0000 01/01/2033 | 0.07% |
| MARICOPA CNTY AZ INDL 05.0000 07/01/2048 | 0.07% |
| NH HLTH & EDU FACS 05.0000 10/01/2046 | 0.07% |
| KY PPTY & BLDGS-B 05.0000 05/01/2028 | 0.07% |
| SALT VERDE FNL CORP 05.0000 12/01/2037 | 0.07% |
| CLARK IMPT DIST-REF 05.0000 08/01/2020 | 0.07% |
| UTAH ST CHRT SCH FIN 05.0000 10/15/2031 | 0.07% |
| 1.245 R ISWP FWD MUNIPSA P 07/12/2025 CI | 0.06% |
| MARLAND ECON DEV CORP 05.0000 06/01/2044 | 0.06% |
| MARLAND ECON DEV CORP 05.0000 06/01/2049 | 0.06% |
| CENTRE CO HOSP-A-REF 05.0000 11/15/2041 | 0.06% |
| IL FIN AUTH-A 05.0000 02/15/2047 | 0.06% |
| MI FIN AUTH-C-3-REF 05.0000 04/01/2024 | 0.06% |
| MI FIN AUTH-H-1-REF 05.0000 10/01/2030 | 0.06% |
| MONROE CO INDL DEV-D 04.0000 07/01/2036 | 0.06% |
| E HEMPFIELD TWP IDA 05.0000 07/01/2029 | 0.06% |
| MI FIN AUTH-B-LOC GOV 05.0000 07/01/2034 | 0.06% |
| GUAM PWR AUTH-A-REF 05.0000 10/01/2030 | 0.06% |
| IL FIN AUTH 04.0000 11/15/2031 | 0.06% |
| OAKLAND UNIV-A 05.0000 03/01/2033 | 0.06% |
| WARREN CO-A-REF 04.0000 07/01/2039 | 0.06% |
| S E OVERTOWN PK P/P 144A 05.0000 03/01/2030 | 0.06% |
| AZ SPORTS-A-REF-SR 05.0000 07/01/2030 | 0.06% |
| MMD AAA R SP 0.0 09/04/19 CI | 0.05% |
| MYRTLE BEACH SC TAX I 05.0000 10/01/2028 | 0.05% |
| PIMA IDA-RF-PROVIDENC 05.1250 12/01/2040 | 0.05% |
| GAINESVILLE ETC DEV 05.0000 03/01/2037 | 0.05% |
| UTAH ST CHRT SCH FIN 05.0000 10/15/2033 | 0.05% |
| HENRICO ECON DEV-REF 05.0000 06/01/2023 | 0.05% |
| LOUISVILLE ARPT-A-AMT 05.0000 07/01/2031 | 0.05% |
| NTHRN AZ UNIV 05.0000 06/01/2036 | 0.05% |
| GRAND RAPIDS WTR-REF 05.0000 01/01/2041 | 0.05% |
| MI FIN AUTH-D-2 05.0000 07/01/2034 | 0.05% |
| YUMA IDA-A 05.2500 08/01/2032 | 0.05% |
| MINNESOTA ST HGR EDU 04.0000 03/01/2036 | 0.05% |
| CLIFTON HGR EDU FIN 05.0000 08/15/2027 | 0.05% |
| HENRICO ECON DEV-REF 05.0000 06/01/2025 | 0.04% |
| JEFFERSON CO-REV-REF 05.0000 09/15/2033 | 0.04% |
| MI ST STRATEGIC-REF 05.2500 06/01/2032 | 0.04% |
| ARLINGTON HGR EDU-A 04.0000 12/01/2031 | 0.04% |
| SCIOTO CO HOSP FACS 05.0000 02/15/2033 | 0.04% |
| WARREN SD-A-REF 05.0000 05/01/2035 | 0.04% |
| DETROIT SD REF-C-BHAC 05.2500 05/01/2025 | 0.04% |
| PORT NY/NJ 5TH-KIAC-4 06.7500 10/01/2019 | 0.04% |
| MAIN ST NAT GAS INC-A 05.5000 09/15/2021 | 0.04% |
| KENTWOOD ECON DEV-REF 05.6250 11/15/2032 | 0.04% |
| MARICOPA IDA-REF 05.0000 07/01/2035 | 0.04% |
| MMD AAA R SP 0.0 10/22/19 MS | 0.04% |
| YAVAPAI CNTY AZ INDL 05.0000 08/01/2034 | 0.04% |
| ALLEGHENY CNTY-C77 04.0000 11/01/2033 | 0.04% |
| BELDING SCHS-A-REF 05.0000 05/01/2040 | 0.04% |
| MMD AAA R SP 0.0 09/05/19 MS | 0.04% |
| PA ST HSG FIN AGY-REF 03.9500 10/01/2030 | 0.04% |
| MI FIN AUTH-C-6 05.0000 07/01/2033 | 0.03% |
| CHIPPEWA VLY SCHS-A 05.0000 05/01/2034 | 0.03% |
| GRAND VLY MI ST UNIV 05.0000 12/01/2032 | 0.03% |
| NYC IDA QUEENS BASEBA 05.0000 01/01/2023 | 0.03% |
| ROCHESTER SD-I 05.0000 05/01/2036 | 0.03% |
| SA ENERGY ACQ PUB FAC 05.5000 08/01/2025 | 0.03% |
| SALT LAKE LKD PARS & 06.7500 05/15/2020 | 0.03% |
| GENESEE CO-WTR SPLY-B 05.0000 02/01/2033 | 0.03% |
| KENTWOOD SCHS-BLDG 05.0000 05/01/2041 | 0.03% |
| LAKE HAVASU CITY AZ-B 05.0000 07/01/2043 | 0.03% |
| NTHRN AZ UNIV-REF 05.0000 06/01/2034 | 0.03% |
| KAREGNONDI WTR AUTH-A 05.2500 11/01/2031 | 0.03% |
| MARICOPA IDA 05.0000 07/01/2036 | 0.03% |
| MMD AAA R SP 0.0 10/17/19 MS | 0.03% |
| YAVAPAI INDL DEV 05.0000 03/01/2032 | 0.03% |
| EL MIRAGE 05.0000 07/01/2042 | 0.03% |
| MICHIGAN ST FIN AUTH 05.0000 12/01/2045 | 0.03% |
| AZ GAME/FISH AGF ADMI 05.0000 07/01/2021 | 0.03% |
| GUAM GOVT HOTEL-A 06.0000 11/01/2026 | 0.03% |
| LANSING SD-I-BLDG 05.0000 05/01/2041 | 0.03% |
| TEXAS MUNI PWR AGY 05.0000 09/01/2037 | 0.03% |
| MARICOPA INDL-WSTE MG 03.3750 12/01/2031 | 0.03% |
| MMD AAA R SP 0.0 09/05/19 CI | 0.03% |
| PARK CREEK CO MET-A 05.0000 12/01/2045 | 0.03% |
| CHICAGO O'HARE ARPT-A 05.0000 01/01/2038 | 0.02% |
| MI HSG DEV-A 04.6250 10/01/2039 | 0.02% |
| ARIZONA BRD OF RGTS 05.0000 07/01/2041 | 0.02% |
| GENESEE CO-WTR SPLY 05.2500 02/01/2040 | 0.02% |
| LINCOLN SD-A-REF 05.0000 05/01/2040 | 0.02% |
| LIVONIA PUB SD-II 05.0000 05/01/2045 | 0.02% |
| CHICAGO MTR FUEL TAX 05.0000 01/01/2030 | 0.02% |
| GUAM PWR AUTH-A-REF 05.0000 10/01/2034 | 0.02% |
| PHOENIX INDL DEV AUTH 03.7500 07/01/2024 | 0.02% |
| MMD AAA R SP 0.0 11/07/19 CI | 0.02% |
| PHOENIX IDA-A P/P 144A 05.0000 07/01/2035 | 0.02% |
| FLINT HSP-HURLEY MED 07.5000 07/01/2039 | 0.02% |
| SOUTHEASTERN OH PORT 05.5000 12/01/2043 | 0.02% |
| MMD AAA R SP 0.0 10/17/19 CI | 0.02% |
| OAKLAND UNIV-REF 05.0000 03/01/2032 | 0.02% |
| CUMBERLAND CNTY PA MU 05.0000 01/01/2032 | 0.01% |
| CUMBERLAND CNTY PA MU 05.0000 01/01/2031 | 0.01% |
| MMD AAA R SP 0.0 11/12/19 CI | 0.01% |
| TREASURY BILL 00.0000 10/10/2019 | 0.01% |
| YAVAPAI CO IDA-A 05.2500 08/01/2033 | 0.01% |
| MI HSG DEV-A 04.4500 10/01/2034 | 0.01% |
| PHOENIX INDL DEV AUT P/P 144A 05.0000 07/01/2035 | 0.01% |
| PHOENIX IDA 04.8750 09/01/2022 | 0.01% |
| STUB 05.2500 04/01/2024 | 0.01% |
| HUDSON YDS INFR-PRERF 05.7500 02/15/2047 | 0.01% |
| TREASURY BILL 00.0000 11/07/2019 | 0.00% |
| CASA GRANDE IDA-REF-A ESCROW 07.6250 12/01/2029 | 0.00% |
| DETROIT WTR-B-UNREF 06.2500 07/01/2036 | 0.00% |
| MMD AAA P SP 0.0 06/02/20 CI | -0.03% |
| MMD AAA P SP 0.0 06/04/20 MS | -0.04% |
| MMD AAA P SP 0.0 06/04/20 CI | -0.07% |
| 1.737 P ISWP FWD MUNIPSA R 07/12/2040 CI | -0.09% |
| US 10YR ULTRA FUT DEC19 UXYZ9 | -1.13% |
Prior top 10 holdings
| Top 10 holdings as of 06/30/19 | |
|---|---|
| Sc Transprtn-2003b 02.0500 10/01/2031 | |
| New York St Thruway-A 04.0000 02/01/2020 | |
| Henrico Indl-Reg Link 05.9290 08/23/2027 | |
| N Tx Twy Cab-Ref-I 06.5000 01/01/2043 | |
| Miami-Dade Cnty Rev 05.0000 10/01/2040 | |
| California St-B-Txbl 02.1930 04/01/2047 | |
| Ky Pub Energy-C-1 04.0000 12/01/2049 | |
| Dallas Area Rapid-A 05.0000 12/01/2046 | |
| Ms Business Fin-Ref 02.5000 04/01/2022 | |
| Centrl Plains Energy 05.0000 03/01/2050 | |
| Holdings represent 13.23% of portfolio | |
| Top 10 holdings as of 05/31/19 | |
|---|---|
| Sc Transprtn-2003b 02.0779 10/01/2031 | |
| New York St Thruway-A 04.0000 02/01/2020 | |
| Henrico Indl-Reg Link 05.9290 08/23/2027 | |
| N Tx Twy Cab-Ref-I 06.5000 01/01/2043 | |
| Miami-Dade Cnty Rev 05.0000 10/01/2040 | |
| California St-B-Txbl 02.1930 04/01/2047 | |
| Dallas Area Rapid-A 05.0000 12/01/2046 | |
| Ms Business Fin-Ref 02.5000 04/01/2022 | |
| Harris Cult Ed Var-C1 02.0500 12/01/2024 | |
| Centrl Plains Energy 05.0000 03/01/2050 | |
| Holdings represent 13.05% of portfolio | |
| Top 10 holdings as of 04/30/19 | |
|---|---|
| New York St Thruway-A 04.0000 02/01/2020 | |
| Henrico Indl-Reg Link 05.9290 08/23/2027 | |
| Miami-Dade Transit 05.0000 07/01/2043 | |
| N Tx Twy Cab-Ref-I 06.5000 01/01/2043 | |
| New York St Dorm Auth 05.0000 03/15/2036 | |
| Gilliam Wst Var-A-Con 02.4000 08/01/2025 | |
| Miami-Dade Cnty Rev 05.0000 10/01/2040 | |
| Dallas Area Rapid-A 05.0000 12/01/2046 | |
| Nyc Wtr-A-1-Dd-2nd Ge 01.9500 06/15/2043 | |
| Massachusetts St-A 05.0000 04/01/2047 | |
| Holdings represent 13.01% of portfolio | |
| Top 10 holdings as of 03/31/19 | |
|---|---|
| Henrico Indl-Reg Link 05.9290 08/23/2027 | |
| Miami-Dade Transit 05.0000 07/01/2043 | |
| N Tx Twy Cab-Ref-I 06.5000 01/01/2043 | |
| New York St Dorm Auth 05.0000 03/15/2036 | |
| Miami-Dade Cnty Rev 05.0000 10/01/2040 | |
| New York St Dorm Auth 05.0000 07/01/2049 | |
| Massachusetts St-A 05.0000 04/01/2047 | |
| Dallas Area Rapid-A 05.0000 12/01/2046 | |
| Ms Business Fin-Ref 02.5000 04/01/2022 | |
| Gilliam Wst Var-A-Con 02.2500 08/01/2025 | |
| Holdings represent 12.33% of portfolio | |
Portfolio composition as of 06/30/19
| Municipal bonds and notes | 100.34% |
|---|---|
| Cash and net other assets | -0.34% |
Fixed income statistics as of 06/30/19
| Average stated maturity | 18.30 yrs. |
|---|---|
| Average effective maturity | 6.24 yrs. |
| Option adjusted duration | 6.34 yrs. |
| Duration to worst | 4.84 yrs. |
| Average yield to maturity | 3.45% |
| Average coupon | 4.53% |
| AMT exposure | 13.53% |
Quality rating as of 06/30/19
| AAA | 2.72% |
|---|---|
| AA | 27.40% |
| A | 53.08% |
| BBB | 13.75% |
| BB | 1.41% |
| B | 0.41% |
| Not Rated | 1.57% |
| Cash and net other assets | -0.34% |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: Capital gains, if any, are taxable for federal and, in most cases, state purposes. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally tax-exempt funds may be subject to state and local taxes. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds. Unlike bonds, funds that invest in bonds have fees and expenses. Tax-exempt bonds may be issued under the Internal Revenue Code only by limited types of issuers for limited types of projects. As a result, the fund's investments may be focused in certain market segments and be more vulnerable to fluctuations in the values of the securities it holds than a more broadly invested fund. Interest the fund receives might be taxable. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. You can lose money by investing in the fund.
Credit qualities are shown as a percentage of net assets. A bond rated BBB or higher (SP-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor's, Moody's, and Fitch. Ratings may vary over time. Cash and net other assets, if any, represent the market value weights of cash, derivatives, and short-term securities in the portfolio. The fund itself has not been rated by an independent rating agency.
Top industry sectors as of 06/30/19
| Transportation | 20.66% |
|---|---|
| Health care | 14.32% |
| Utilities | 13.28% |
| State Debt | 9.40% |
| Special Tax | 8.44% |
| Education | 7.06% |
| Financials | 7.03% |
| Local Debt | 5.85% |
| Other | 3.71% |
| Other | 10.25% |
1
Sectors will vary over time.
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| Total expense ratio | 0.77% | 1.40% | 1.55% | 1.05% | 0.53% | 0.55% |
| What you pay | 0.77% | 1.40% | 1.55% | 1.05% | 0.53% | 0.55% |
Sales charge
| Breakpoint | Class A | Class B | Class C | Class M | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| $0-$49,999 | 4.00% / 3.50% | 0.00% / 4.00% | 0.00% / 1.00% | 3.25% / 3.00% | -- | -- |
| $50,000-$99,999 | 4.00% / 3.50% | 0.00% / 4.00% | 0.00% / 1.00% | 2.25% / 2.00% | -- | -- |
| $100,000-$249,999 | 3.25% / 2.75% | -- | 0.00% / 1.00% | 1.25% / 1.00% | -- | -- |
| $250,000-$499,999 | 2.50% / 2.00% | -- | 0.00% / 1.00% | 1.00% / 1.00% | -- | -- |
| $500,000-$999,999 | 0.00% / 1.00% | -- | -- | -- | -- | -- |
| $1M-$4M | 0.00% / 1.00% | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% / 0.50% | -- | -- | -- | -- | -- |
| $50M+ | 0.00% / 0.25% | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $500,000+) | Class B | Class C | Class M | Class R6 | Class Y | |
|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
| 7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
Trail commissions
| Class A | Class B | Class C | Class M | Class R6 | Class Y | |
|---|---|---|---|---|---|---|
| 0.15%1 | 0.20% | 1.00% | 0.40% | 0.00% | 0.00% | |
| 0.20%2 | NA | NA | NA | NA | NA | |
| 0.25%3 | NA | NA | NA | NA | NA |
- Through 12/31/92
- After 12/31/92through 03/31/05
- After 03/31/05
For sales and trail commission information on purchases over $500,000 and participant-directed qualified retirement plans, see a Putnam fund prospectus and the statement of additional information.
The Bloomberg Barclays Municipal Bond Index is an unmanaged index of long-term fixed-rate investment-grade tax-exempt bonds. You cannot invest directly in an index.
Consider these risks before investing: Capital gains, if any, are taxable for federal and, in most cases, state purposes. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally tax-exempt funds may be subject to state and local taxes. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds. Unlike bonds, funds that invest in bonds have fees and expenses. Tax-exempt bonds may be issued under the Internal Revenue Code only by limited types of issuers for limited types of projects. As a result, the fund's investments may be focused in certain market segments and be more vulnerable to fluctuations in the values of the securities it holds than a more broadly invested fund. Interest the fund receives might be taxable. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. You can lose money by investing in the fund.
Credit qualities are shown as a percentage of net assets. A bond rated BBB or higher (SP-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor's, Moody's, and Fitch. Ratings may vary over time. Cash and net other assets, if any, represent the market value weights of cash, derivatives, and short-term securities in the portfolio. The fund itself has not been rated by an independent rating agency.