Effective August 28, 2020, the fund's name changed from Putnam AMT-Free Municipal Fund.

Active Income

Strategic Intermediate Municipal Fund (Class Y) (PAMYX)

Item: Putnam Strategic Intermediate Municipal Fund (PAMYX)
Rating: 5
Author: Morningstar

A greater focus on absolute return than a more traditional municipal fund

Strategic Intermediate Municipal Fund received an Overall Morningstar Rating^™ of

Strategic Intermediate Municipal Fund (PAMYX)

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Highlights

Objective

The fund seeks high current income exempt from federal income tax.

Strategy and process

Opportunistic strategy Pursuing opportunities across the municipal market, the fund seeks to provide attractive income and returns with a focus on capital preservation.
An intermediate fund with more latitude The fund has flexibility to respond to market opportunities and changes in the shape and slope of the municipal yield curve.
Opportunistic credit investing While favoring investment-grade bonds, the fund can invest across the entire municipal landscape, including high-yield bonds, to leverage Putnam's deep municipal credit research expertise.

Fund price and assets	Yesterday’s close	52-week high	52-week low	Net assets and outstanding shares
Net asset value	$13.80 0.22% \| $0.03	$15.40 08/05/21	$13.56 05/18/22	Download CSV

Net assets and outstanding shares

Download CSV

Historical fund price

Fund facts as of 02/28/22

Total net assets
$277.90M

Turnover (fiscal year end)
78%

Dividend frequency (view rate)
Monthly

Number of holdings
309

Fiscal year-end
July

CUSIP / Fund code
746872886 / 1839

Inception date
01/02/08

Category
Tax-free Income

Open to new investors

Ticker
PAMYX

Management team

Years at Putnam Years in industry

Garrett L. Hamilton, CFA

Portfolio Manager

Years at Putnam

Years in industry

See profile

Paul M. Drury, CFA

Portfolio Manager

Years at Putnam

Years in industry

See profile

Literature

Fund documents
Prospectuses/SAI
Fact Sheet (R6 share) (PDF)
Fact Sheet (YA share) (PDF)
Annual Fund Report (PDF)
Semiannual Fund Report (PDF)
Quarterly Commentary (PDF)
Brochure (PDF)

A look at leveraged loans and CLOs

A recent Active Insights podcast features a discussion of leveraged loans, and collateralized loan obligations (CLOs).

U.S. recession ifs and whens

The U.S. will likely avoid a recession in 2022, in our view. That risk rises next year as the Fed raises rates and China decelerates.

Munis after Q1 — and April — and 8 reasons why we are still constructive

While munis suffered a bad quarter to start 2022, brighter days may be ahead amid strong fundamentals.

Performance

Consistency of positive performance over five years

Performance represents 5-year returns in rolling quarter-end periods since inception.

Dots represent 5-year returns in rolling quarter-end periods since inception.

128
positive 5-year periods

0
negative 5-year periods

Performance shown above 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 see below.

9.74%

Best 5-year annualized return

(for period ending 09/30/92)

1.47%

Worst 5-year annualized return

(for period ending 09/30/08)

5.08%

Average 5-year annualized return

Total return (%) as of 06/30/22
Annual performance as of 06/30/22

Annual Cumulative

Annualized Total return (%) as of 06/30/22

Annualized performance	1 yr.	3 yrs.	5 yrs.	10 yrs.
Before sales charge	-7.24%	0.58%	2.12%	2.68%
After sales charge	N/A	N/A	N/A	N/A
Bloomberg 3-15 Year Blend Municipal Bond Index	-7.06%	0.08%	1.52%	2.21%
Bloomberg Municipal Bond Index	-8.57%	-0.18%	1.51%	2.38%

Cumulative Total return (%) as of 06/30/22

Cumulative performance	1 yr.	3 yrs.	5 yrs.	10 yrs.
Before sales charge	-7.24%	1.74%	11.04%	30.28%
After sales charge	N/A	N/A	N/A	N/A

Annual performance as of 06/30/22

	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021
Before sales charge	8.32%	-3.33%	10.35%	2.88%	0.05%	6.03%	0.74%	8.38%	4.56%	2.45%
Bloomberg 3-15 Year Blend Municipal Bond Index	5.15%	-1.24%	6.96%	3.06%	-0.05%	4.76%	1.54%	6.83%	5.04%	0.93%
Bloomberg Municipal Bond Index	6.78%	-2.55%	9.05%	3.30%	0.25%	5.45%	1.28%	7.54%	5.21%	1.52%

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. The "before sales charge" performance does not reflect the current maximum sales charges, which we explain below. If performance did reflect the charges, it would be lower. The "after sales charge" performance (or returns at public offering price) varies by share class and fund. For class A and class M shares, the current maximum initial sales charges are 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds, respectively (with these exceptions: 2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund). Class B share performance reflects the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, and Putnam Fixed Income Absolute Return Fund; for these funds, the CDSC is 1% in the first year, declines to 0.5% in the second year, and is eliminated thereafter). Class C share performance reflects 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 by adjusting for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (note, for two funds — Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund performance prior to inception is based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which has been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. The "after sales charge" performance (at public offering price) for class N shares reflects the current maximum initial sales charge of 1.50%. Class R, R3, R4, R5, and R6 shares, which are 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 R3 and R4 shares prior to their inception is derived from the historical performance of class Y shares by adjusting for the higher operating expenses for such shares. Performance for class R5 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower expenses; had it been adjusted, performance would be higher (with the exception of the RetirementReady Maturity, 2025, 2030, 2035, and 2040 Funds, for which performance is derived from the historical performance of class R6 shares and has been adjusted for the higher operating expenses for such shares; and the RetirementReady 2045, 2050, 2055, and 2060 Funds, for which performance is derived from the historical performance of class R6 shares and has not been adjusted for the lower expenses; had it been adjusted, performance would be higher). Performance for class R6 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses. Had these limits not been in place, performance would be lower.

Performance snapshot

	Before sales charge	After sales charge
1 mt. as of 06/30/22	-1.22%	-
YTD as of 07/05/22	-6.99%	-

Yield

Distribution rate before sales charge as of 07/05/22	1.82%
Distribution rate after sales charge as of 07/05/22	1.82%
30-day SEC yield as of 06/30/22	2.33%

Lipper rankings as of 02/28/22

Time period	Rank/Funds in category	Percentile ranking
1 yr.	23/214	11%
3 yrs.	14/191	8%
5 yrs.	5/161	4%
10 yrs.	3/117	3%

Lipper category: Intermediate Municipal Debt Funds

Morningstar Ratings^™ as of 05/31/22

Time period	Funds in category	Morningstar Rating^™
Overall	273
3 yrs.	273
5 yrs.	240
10 yrs.	174

Morningstar category: Muni National Interm

Distributions

Accrual days	30
Accrual start date	06/01/22
Accrual end date	06/30/22
Payable date	06/30/22
Non-taxable income	$0.020583474
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 Rating^TM 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.

Tax-Equivalent Yield Calculator

When considering investing in municipal bonds, you should evaluate yields on a tax-equivalent basis, taking into account your tax liability on the interest earned from each.

Federally tax-exempt bonds typically yield less income than taxable bonds.
State and local income tax-exempt bonds may yield less than those whose interest is taxed in a particular jurisdiction.

What is your tax rate?

Annual income

Filing status

State of residence

Incomes higher than $250,000 have NII taxes included

Federal Rate

0.00%

State Income

0.00%

Total Tax Rate

0.00%

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You've selected an in-state municipal fund
which currently yields 2.47%.

There are other types of bond funds to consider...

To get the equivalent yield as the in-state municipal
fund, each fund would have to yield:

Yield

In-state
muni

2.47%

Out-of-state muni

2.47%

U.S. Treasuries

2.47%

Other taxable funds

2.47%

Taxes

Tax

5.05%

MA income tax

2.47%

Federal income tax

2.47%

MA + Federal income tax

...because a portion of the yield would go toward taxes!

Yield

Taxes

Equivalent

Putnam Massachusetts Tax Exempt Income Fund

Disclosures

Putnam

The output of this calculator is for educational purposes only and should not be considered investment, legal or tax advice as is not intended to serve as the primary or sole basis for investment or tax-planning decisions. It is intended for U.S. individual taxpayers residing in the 50 states and the District of Columbia, and is not applicable to trusts, estates, corporations or persons subject to special rules under federal, state or local income tax laws. The taxes calculated on investment income does not apply to funds and accounts held outside qualified retirement plans and other tax-deferred or tax-exempt investments.

Laws of a particular state, or laws which may be applicable to a particular situation, may have an impact on the applicability, accuracy, or completeness of information provided. Putnam does not guarantee that the content is accurate, complete, or timely, or that the calculator produces accurate or complete results.

For more individualized information, consult your tax advisor or investment professional. You bear sole responsibility for any decisions made based on the output of this calculator. The calculator makes certain assumptions that may not apply to you. The calculator has many inherent limitations, and individual results may vary.

Calculator assumptions

The calculator displays the federal and state tax rates assumed in calculating tax equivalent yields based on a chosen income level and filing status. Indicated rates are those that apply to an incremental dollar of additional income, which may vary from your average tax rates. The 3.8% net investment income (NII) federal tax applies to individuals, estates and trusts with modified adjusted gross income (MAGI) above applicable threshold amounts ($200,000 for single and head of household; $250,000 for married filing jointly). While reasonable efforts are made to make timely updates to tax rates and income tax brackets used by this calculator, there may be a delay in when the tool reflects those changes.

The calculator does not take into account:

Reductions and limits on federal itemized deductions
State and local taxes are not deducted from your federal tax rate. Depending on your personal scenario, this may cause the resulting yield to be overstated
Federal alternative minimum tax (AMT)
State alternative minimum tax
Intangibles taxes levied by individual states
Local income tax rates imposed by cities, counties or other local jurisdictions on investment income and gains

You should review the assumed tax rates against your actual tax rates based on your individual tax situation when analyzing and interpreting this calculator's results.

Holdings

Top 10 holdings as of 02/28/22

Wa Hlth Care-C-Var 01.5400 01/01/2042	2.88%
Metro Pier Cabs-Ref-A 00.0000 12/15/2022	1.95%
Scranton Sd-Nts-Ref 01.0070 04/01/2031	1.90%
Maryland St-D-Ref 04.0000 08/01/2029	1.66%
E-470 Pub Hwy Auth 00.5380 09/01/2039	1.43%
Charlotte Etc Hlth-E 00.3900 01/15/2042	1.40%
Nyc Transitional -C-1 05.0000 02/01/2044	1.34%
San Francisco City-A 05.0000 05/01/2031	1.32%
St Paul Hsg & Redev-A 05.5000 09/01/2036	1.23%
Ky Pub Energy-C-1 04.0000 12/01/2049	1.22%
Top 10 holdings, percent of portfolio	16.33%

Prior top 10 holdings

Top 10 holdings as of 02/28/22
Wa Hlth Care-C-Var 01.5400 01/01/2042
Metro Pier Cabs-Ref-A 00.0000 12/15/2022
Scranton Sd-Nts-Ref 01.0070 04/01/2031
Maryland St-D-Ref 04.0000 08/01/2029
E-470 Pub Hwy Auth 00.5380 09/01/2039
Charlotte Etc Hlth-E 00.3900 01/15/2042
Nyc Transitional -C-1 05.0000 02/01/2044
San Francisco City-A 05.0000 05/01/2031
St Paul Hsg & Redev-A 05.5000 09/01/2036
Ky Pub Energy-C-1 04.0000 12/01/2049
Holdings represent 16.33% of portfolio

Top 10 holdings as of 01/31/22
Wa Hlth Care-C-Var 01.1100 01/01/2042
Scranton Sd-Nts-Ref 00.9220 04/01/2031
Metro Pier Cabs-Ref-A 00.0000 12/15/2022
Maryland St-D-Ref 04.0000 08/01/2029
E-470 Pub Hwy Auth 00.3840 09/01/2039
Charlotte Etc Hlth-E 00.0700 01/15/2042
Nyc Transitional -C-1 05.0000 02/01/2044
Minneapolis -Rev 04.0000 11/15/2036
Ky Tpk Auth -A -2022 05.0000 07/01/2031
St Paul Hsg & Redev-A 05.5000 09/01/2036
Holdings represent 16.16% of portfolio

Top 10 holdings as of 12/31/21
Wa Hlth Care-C-Var 01.1500 01/01/2042
Scranton Sd-Nts-Ref 00.9170 04/01/2031
Metro Pier Cabs-Ref-A 00.0000 12/15/2022
Maryland St-D-Ref 04.0000 08/01/2029
E-470 Pub Hwy Auth 00.3840 09/01/2039
Charlotte Etc Hlth-E 00.0700 01/15/2042
Minneapolis -Rev 04.0000 11/15/2036
Ky Tpk Auth -A -2022 05.0000 07/01/2031
St Paul Hsg & Redev-A 05.5000 09/01/2036
Ky Pub Energy-C-1 04.0000 12/01/2049
Holdings represent 15.87% of portfolio

Top 10 holdings as of 11/30/21
Wa Hlth Care-C-Var 01.1000 01/01/2042
Scranton Sd-Nts-Ref 00.9090 04/01/2031
Metro Pier Cabs-Ref-A 00.0000 12/15/2022
Maryland St-D-Ref 04.0000 08/01/2029
E-470 Pub Hwy Auth 00.3840 09/01/2039
Charlotte Etc Hlth-E 00.0300 01/15/2042
Minneapolis -Rev 04.0000 11/15/2036
Ky Tpk Auth -A -2022 05.0000 07/01/2031
Ky Pub Energy-C-1 04.0000 12/01/2049
St Paul Hsg & Redev-A 05.5000 09/01/2036
Holdings represent 16.01% of portfolio

Full portfolio

SAN FRANCISCO ARPT-B 00.6000 05/01/2058	2.93%
UNIV OF CA REGENTS -P 05.0000 05/15/2038	2.80%
WA HLTH CARE-C-VAR 01.7300 01/01/2042	2.14%
BAY AREA TOLL-C 00.5200 04/01/2053	2.13%
SAN FRANCISCO CALIF C 05.0000 05/01/2034	1.94%
DALLAS TX AREA RAPID 05.0000 12/01/2033	1.82%
PALM BEACH SCH-C 05.0000 08/01/2031	1.51%
MASSACHUSETTS ST-B 05.0000 07/01/2033	1.50%
DASNY -A -REV -REF 05.0000 03/15/2030	1.47%
METRO PIER CABS-REF-A 00.0000 12/15/2022	1.45%
SCRANTON SD-NTS-REF 01.5720 04/01/2031	1.41%
PORT AUTH NY/NJ-197 05.0000 11/15/2035	1.41%
NYC-ADJ-1-SUBSER I-2 00.4500 03/01/2040	1.33%
NYC TRANSITIONAL FIN 05.0000 11/01/2040	1.25%
CLARK CO SD-C-REF 05.0000 06/15/2028	1.16%
PHILADELPHIA PA ARPT 05.0000 07/01/2024	1.12%
MA ST WTR-A3-RMKT-REF 00.6800 08/01/2037	1.06%
E-470 PUB HWY AUTH 00.8860 09/01/2039	1.05%
MET DC ARPTS-A-REF 05.0000 10/01/2043	1.05%
NYC TRANSITIONAL-F-1 05.0000 02/01/2047	0.90%
OAQ DUKE ENERGY 2022B 04.0000 09/01/2030	0.90%
HOUSTON ISD-A-2-REMK 03.5000 06/01/2039	0.89%
PHILADELPHIA AUTH-A 05.0000 12/01/2027	0.86%
KY PUB ENERGY-C-1 04.0000 12/01/2049	0.86%
DETROIT MI DOWNTOWN D 05.0000 07/01/2043	0.84%
MIDLAND CO PUB FAC 00.3500 06/01/2024	0.84%
ST PAUL HSG & REDEV-A 05.5000 09/01/2036	0.84%
HENNEPIN CO-B-REF 00.6700 12/01/2038	0.80%
NYC-ADJ-SER I-SUB I-4 00.4500 04/01/2036	0.80%
LOUISVILLE & JEFFERSO 05.0000 10/01/2030	0.78%
MS BUS-VAR-C-CHEVRON 00.5000 12/01/2030	0.78%
KY TPK AUTH -A -2022 05.0000 07/01/2032	0.77%
KY PUB ENERGY AUTH-B 04.0000 01/01/2049	0.76%
CENTRL PLAINS ENERGY 05.0000 03/01/2050	0.69%
CA PUB FIN AUTH-C 00.4400 08/01/2052	0.67%
ALASKA ST INDL DEV-A 04.0000 10/01/2039	0.66%
MONROEVILLE FIN-B 05.0000 02/15/2038	0.66%
LOS ANGELES DEPT ARPT 05.0000 05/15/2028	0.64%
TRINITY RIVER PUB FAC 00.2800 10/01/2024	0.64%
DE RIVER & BAY AUTH 05.0000 01/01/2032	0.62%
ILLINOIS ST-D 05.0000 11/01/2028	0.60%
SAN FRANCISCO CITY-A 05.0000 05/01/2029	0.60%
MAIN ST GAS-B-VAR 01.4610 04/01/2048	0.58%
PALM BEACH HLTH-REF 05.0000 11/15/2032	0.57%
PORT OF PORTLAND-AMT 05.0000 07/01/2033	0.57%
NH HLTH &EDU FACS-REF 05.0000 10/01/2037	0.56%
MICHIGAN ST FIN AUTH 05.0000 02/01/2047	0.55%
LAKELAND HOSP 05.0000 11/15/2045	0.55%
MI FIN AUTH-B-LOC GOV 05.0000 07/01/2039	0.54%
ARLINGTON TX HGR EDU 04.0000 02/15/2051	0.54%
ID HLTH FACS AUTH-C 00.5100 03/01/2048	0.51%
SAINT JOHN THE BAPTIS 02.2000 06/01/2037	0.50%
PITTSBURGH WTR SWR-C 01.3300 09/01/2040	0.50%
OHIO ST -REV -REF 05.0000 07/01/2035	0.49%
ORANGE CO HSG FIN-A 00.2000 09/01/2024	0.49%
NEW YORK NY 05.0000 08/01/2032	0.48%
HEMPSTEAD NY UNION-A 01.0000 06/30/2022	0.47%
MINNEAPOLIS ST PAUL M 05.0000 01/01/2031	0.46%
ILLINOIS ST 05.0000 11/01/2034	0.46%
IOWA ST FIN AUTH-AMT 01.5000 01/01/2042	0.45%
LOS ANGELES DEPT ARPT 05.0000 05/15/2028	0.44%
NJ HLTH VAR-C-VIRTUA 00.4200 07/01/2043	0.44%
MASSACHUSETTS ST-A 05.2500 04/01/2047	0.44%
ILLINOIS ST FIN AUTH 05.0000 03/01/2030	0.44%
ORLANDO REDEV AGY-REF 05.0000 04/01/2023	0.44%
FARMINGTON-REV-B-REF 02.1500 04/01/2033	0.43%
ST LOUIS-A-REV-REF 05.0000 07/01/2030	0.43%
PUBLIC FIN AUTH-A 05.0000 07/01/2054	0.43%
CT ST HLTH & EDUCTNL 05.0000 07/01/2032	0.43%
SC PUB SVC AUTH-A-REF 05.0000 12/01/2036	0.42%
GA MUNI ELEC AUTH-A 05.5000 07/01/2060	0.42%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2036	0.42%
BURKE DEV AUTH-A 01.5000 01/01/2040	0.42%
LOS ANGELES DEPT ARPT 04.0000 05/15/2039	0.41%
CUYAHOGA CO REV REF 05.0000 01/01/2038	0.41%
NJ TRANSPRTN TRUST-A 04.0000 06/15/2039	0.40%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2038	0.40%
CA ST INFRA-C 01.0300 08/01/2047	0.40%
HALIFAX HOSP MED-REF 05.0000 06/01/2036	0.38%
INDIANAPOLIS LOCAL-A 05.0000 02/01/2054	0.37%
JPM-DRIVERS-XF0805 P/P 06.8700 08/01/2037	0.37%
OHIO ST -REV -REF 05.0000 07/01/2036	0.36%
TARRANT CNTY TX CULTU 05.0000 11/15/2037	0.36%
AZ INDL DEV AUTH-A 05.0000 11/01/2036	0.35%
ILLINOIS ST 05.0000 11/01/2029	0.35%
DC-KIPP-SER A-REF 05.0000 07/01/2048	0.35%
CT HLTH & EDU-F-REF 05.0000 07/01/2034	0.35%
NEW HOPE EDU FACS-A 05.0000 04/01/2029	0.34%
ALLEGHENY CO ARPRT-A 04.0000 01/01/2040	0.34%
KY HSG CORP -REV 00.3700 10/01/2024	0.33%
LAWRENCE 04.0000 06/01/2035	0.33%
MICHIGAN ST FIN AUTH 05.2500 02/01/2032	0.32%
CA ST PUB WKS-A 05.0000 08/01/2032	0.32%
JEFFERSON CO-REV-REF 05.0000 09/15/2034	0.32%
LOS ANGELES INTL ARPT 05.0000 05/15/2032	0.31%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2028	0.30%
SALT VERDE FNL CORP 05.5000 12/01/2029	0.30%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2029	0.30%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2030	0.30%
MMD AAA P SP 0.0 06/23/22 CI	0.30%
SAN FRANCISCO CITY-A 05.0000 05/01/2031	0.30%
OHIO TPK & INFRA-A 05.0000 02/15/2029	0.30%
GREATER CHICAGO MET-A 05.0000 12/01/2031	0.30%
MET WASHINGTON ARPT 05.0000 10/01/2031	0.30%
MET NASHVILLE TN ARPT 05.0000 07/01/2033	0.30%
PUBLIC FIN AUTH-A 05.0000 07/01/2044	0.29%
DULUTH MN ECON DEV AU 05.0000 06/15/2032	0.29%
ILLINOIS FIN AUTH-B-2 05.0000 05/15/2050	0.29%
AZ INDL DEV AUTH-A 05.0000 11/01/2033	0.29%
WA ST HSG FIN -A-1 03.5000 12/20/2035	0.29%
SA ENERGY ACQ PUB FAC 05.5000 08/01/2025	0.29%
AZ INDL DEV AUTH-A 05.0000 11/01/2039	0.28%
CHICAGO IL BRD OF EDU 05.0000 12/01/2039	0.28%
MI FIN AUTH-C 05.0000 07/01/2035	0.28%
CA POLL FING AUTH 04.7500 11/01/2046	0.28%
ORANGE CO HLTH FACS 05.0000 08/01/2034	0.28%
WI HLTH & EDUCTNL-REF 05.0000 08/15/2033	0.28%
DALLAS -REV -REF 04.0000 08/15/2035	0.28%
DALLAS -REV -REF 04.0000 08/15/2036	0.28%
DALLAS -REV -REF 04.0000 08/15/2037	0.28%
TOB SETTLEMT FING-B 05.0000 06/01/2050	0.28%
DALLAS -REV -REF 04.0000 08/15/2038	0.27%
KENTWOOD MI ECON DEV 05.0000 11/15/2037	0.27%
DT OF COLUMBIA 04.0000 06/01/2030	0.27%
NATIONAL FIN AUTH-A 144A 03.7500 08/15/2030	0.27%
CA ST MUNI FIN-A-REF 04.0000 10/01/2032	0.27%
CENTRAL PLAINS ENERGY 05.0000 09/01/2032	0.27%
ILLINOIS ST-D 05.0000 11/01/2027	0.27%
NJ HLTH-VAR-B-AHS HOS 00.6800 07/01/2036	0.27%
CA INFRA & ECON-B-REF 01.3800 12/01/2050	0.26%
RESTRUCTURED-SER A1 05.6250 07/01/2027	0.26%
GLENDALE INDL DEV-REF 04.0000 05/15/2029	0.26%
CHICAGO IL-A-REF 04.0000 01/01/2036	0.26%
GLENDALE INDL DEV-REF 04.0000 05/15/2031	0.26%
IOWA FIN AUTH -A-REF 04.0000 05/15/2046	0.26%
MASSACHUSETTS ST HSG 01.8500 12/01/2050	0.26%
CA PUB WKS BRD-E 05.0000 09/01/2034	0.25%
SANTA FE RETMNT FAC 05.0000 05/15/2042	0.25%
DULUTH MN ECON DEV AU 05.0000 06/15/2030	0.25%
FL ST DEPT OF MGMT 03.0000 11/01/2035	0.25%
FORT BEND ISD -B REF 00.7200 08/01/2051	0.25%
NEW HOPE CULT EDU-B1 05.0000 07/01/2038	0.25%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2029	0.24%
CA HSG FIN AGY CTFS 03.5000 11/20/2035	0.23%
PACIFICA SD 04.0000 08/01/2045	0.23%
NEW JERSEY ST TRANSPR 05.0000 06/15/2036	0.23%
NEW HOPE EDU FACS-A 05.0000 04/01/2035	0.23%
ILLINOIS ST 04.1250 11/01/2031	0.22%
OAKLAND PORT-H-REF 05.0000 05/01/2028	0.22%
NEW JERSEY ST TRANSPR 05.0000 06/15/2028	0.22%
ALBANY RES CORP-A-REF 05.0000 05/01/2023	0.22%
CHULA VISTA FING-REF 05.5000 09/01/2030	0.21%
CHICAGO WSTWTR TRANS 05.0000 01/01/2039	0.21%
DALLAS -REV -REF 04.0000 08/15/2034	0.21%
INDIANA FIN AUTH-A 05.0000 10/01/2030	0.20%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2036	0.20%
MI FIN AUTH-C-3-REF 05.0000 04/01/2028	0.20%
MN HGR EDU FACS-A 05.0000 05/01/2046	0.20%
CALIFORNIA ST INFRAST 05.0000 12/01/2029	0.20%
CHESTER CO IDA-A 05.0000 08/01/2045	0.20%
PA ST ECON DEV-REF 04.0000 01/01/2029	0.20%
NEW YORK MTGE AGY-196 02.6000 04/01/2025	0.20%
SEATTLE-MUNI LIGHT-B 00.9300 05/01/2045	0.20%
DETROIT 05.5000 04/01/2034	0.20%
NY ST DORM AUTH -A 05.0000 03/15/2040	0.20%
CT HLTH & EDU-L-1 04.0000 07/01/2026	0.19%
FRANKLIN CNTY OH HLTH 05.0000 11/15/2034	0.19%
NC MED CARE COMM-C 04.0000 03/01/2029	0.19%
MASSACHUSETTS ST HSG 03.1000 06/01/2030	0.19%
MI FIN AUTH -A-REF 02.3260 06/01/2030	0.19%
PA TURNPIKE-B1 05.0000 06/01/2042	0.19%
ILLINOIS ST 04.0000 01/01/2031	0.19%
SIERRA VIEW LOCAL DT 05.0000 07/01/2030	0.19%
TREASURY BILL 00.0000 06/09/2022	0.19%
CHICAGO WTRWRKS-2ND 05.0000 11/01/2039	0.18%
SIERRA VIEW LOCAL DT 05.0000 07/01/2027	0.18%
ALBANY RES CORP-A-REF 05.0000 05/01/2025	0.18%
JPM-DRIVERS-XF0850 P/P 06.8630 12/01/2049	0.18%
VA SMALL BUS FIN-A 05.0000 01/01/2029	0.18%
VLG FL CDD 13 SPL AS 01.8750 05/01/2025	0.17%
UTAH ST CHRT SCH FIN 05.0000 10/15/2030	0.17%
MYRTLE BEACH SC TAX I 05.0000 10/01/2028	0.17%
OHIO ST -REV 05.0000 12/01/2032	0.17%
DULUTH ECON DEV AUTH 04.0000 07/01/2031	0.17%
LOS ANGELES INTL ARPT 04.0000 05/15/2035	0.17%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2026	0.16%
ILLINOIS ST 05.0000 11/01/2041	0.16%
PORT OF GRTR CINCI 04.2500 12/01/2050	0.16%
UTAH INFRASTRUCTURE A 04.0000 10/15/2029	0.16%
ALBANY RES CORP-A-REF 05.0000 05/01/2024	0.16%
PORT OF OAKLAND CA 01.0810 05/01/2024	0.16%
LANCASTER INDL DEV AU 04.0000 07/01/2046	0.16%
LOS ANGELES CO REGL 05.0000 12/01/2034	0.16%
UTAH INFRASTRUCTURE A 05.0000 10/15/2027	0.16%
CHICAGO WSTWTR 05.0000 01/01/2039	0.15%
ALASKA ST INDL DEV-A 04.0000 10/01/2038	0.15%
MS BUSINESS FIN CORP- 02.3750 06/01/2044	0.15%
PA ST ECON DEV-REF 04.0000 01/01/2032	0.15%
MI FIN AUTH-H-1-REF 05.0000 10/01/2039	0.15%
NEW HOPE CULT EDU-A 05.0000 04/01/2025	0.14%
NEW YORK TRANSPRTN-A 05.0000 12/01/2029	0.14%
S SAN FRANCISCO PUB-A 05.0000 06/01/2039	0.14%
MATCHING FUND SPL-A 05.0000 10/01/2027	0.14%
SC PUB SVC AUTH-B-REF 05.0000 12/01/2037	0.14%
MONROEVILLE FIN-B 05.0000 02/15/2024	0.14%
NEW HAMPSHIRE ST HLTH 05.0000 07/01/2044	0.14%
SCIOTO CO HOSP FACS 05.0000 02/15/2033	0.14%
KY PUB TRANSPTRN-A 06.0000 07/01/2053	0.14%
WARREN HLTHCR-A-REF 05.7500 07/01/2033	0.14%
CHICAGO WSTWTR 05.0000 01/01/2044	0.14%
LA STADIUM & EXPO DT 04.0000 07/03/2023	0.14%
MA DEV FIN AGY-REF 04.0000 01/01/2026	0.14%
IL FIN AUTH-A 05.0000 02/15/2050	0.13%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2030	0.13%
HARRIS CULTURAL EDU-A 05.0000 06/01/2038	0.13%
LACKAWANNA CNTY PA IN 04.0000 11/01/2040	0.13%
JPM-DRIVERS-XF0804 P/P 07.6940 08/01/2049	0.13%
JPM-DRIVERS-XF0845 P/P 13.0830 11/15/2044	0.13%
SILVER CREEK SCH BLDG 03.0000 01/15/2036	0.13%
CUYAHOGA CO REV REF 05.0000 01/01/2036	0.13%
NC MED CARE COMM-C 05.0000 03/01/2027	0.12%
LONG BEACH-A-REV-REF 05.0000 06/01/2034	0.12%
S SAN FRANCISCO PUB-A 05.0000 06/01/2038	0.12%
NC MED CARE COMM-C 05.0000 03/01/2026	0.12%
ALBANY RES CORP-A-REF 05.0000 05/01/2026	0.11%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2033	0.11%
CHICAGO WSTWTR TRANS 05.0000 01/01/2033	0.11%
ILLINOIS ST FIN AUTH 05.0000 08/01/2031	0.11%
CAPITAL TRUST AGY FL 03.3000 01/01/2031	0.11%
CHICAGO WSTWTR TRANS 05.0000 01/01/2034	0.11%
WESTMORELAND CNTY PA 05.0000 07/01/2027	0.11%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2028	0.11%
ARLINGTON HGR EDU-A 04.0000 12/01/2032	0.11%
S SAN FRANCISCO PUB-A 05.0000 06/01/2037	0.11%
UTAH INFRASTRUCTURE A 04.0000 10/15/2030	0.11%
NEW HOPE EDU FACS-A 05.0000 04/01/2047	0.10%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2027	0.10%
CLIFTON HGR EDU FIN 05.0000 08/15/2027	0.10%
FAIRFAX CNTY VA ECON 05.0000 10/01/2042	0.10%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2026	0.10%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2033	0.10%
YUCAIPA SPL TAX-REF 05.3750 09/01/2030	0.10%
NC MED CARE COMM-C 05.0000 03/01/2028	0.10%
NJ ECON DEV AUTH-AAA 05.0000 06/15/2036	0.10%
S SAN FRANCISCO PUB-A 05.0000 06/01/2036	0.10%
SILVER CREEK SCH BLDG 03.0000 01/15/2034	0.10%
DOUBLE BRANCH CDD-A1 04.2500 05/01/2034	0.10%
VA SMALL BUS FIN-A 05.0000 01/01/2027	0.09%
ILLINOIS ST 05.0000 01/01/2041	0.09%
LONG BEACH-A-REV-REF 05.0000 06/01/2035	0.09%
LONG BEACH-B-REV-REF 05.0000 06/01/2035	0.09%
LONG BEACH-B-REV-REF 05.0000 06/01/2038	0.09%
FLORIDA ST DEV FIN CO 05.0000 07/01/2031	0.09%
GA MUNI ELEC AUTH-A 04.0000 01/01/2046	0.09%
VAUXMONT MET DIST CO 05.0000 12/01/2034	0.09%
MET PIER & EXPOSITION 05.0000 12/15/2033	0.08%
S SAN FRANCISCO PUB-A 05.0000 06/01/2035	0.08%
JPM-DRIVERS-XF0852 P/P 06.8490 10/01/2049	0.08%
OHIO ST-REV-REF 05.0000 11/15/2026	0.08%
SIERRA VIEW LOCAL DT 04.0000 07/01/2026	0.08%
WESTMORELAND CNTY PA 04.0000 07/01/2026	0.08%
DALLAS AREA MUNI AUTH 05.0000 05/01/2029	0.08%
GAITHERSBURG ECON-A 05.0000 01/01/2036	0.08%
WESTMORELAND CNTY PA 05.0000 07/01/2028	0.08%
SIERRA VIEW LOCAL DT 04.0000 07/01/2025	0.08%
JPM-DRIVERS-XF0919 P/P 06.7970 10/01/2053	0.08%
S SAN FRANCISCO PUB-A 05.0000 06/01/2033	0.08%
MI FIN AUTH -REF -REV 04.0000 02/01/2032	0.08%
S SAN FRANCISCO PUB-A 05.0000 06/01/2034	0.08%
LONG BEACH-B-REV-REF 05.0000 06/01/2036	0.08%
TEMPLE-A-REV 05.0000 08/01/2030	0.08%
VAUXMONT MET DIST CO 05.0000 12/01/2032	0.08%
PLAZA AT NOAH'S ARK 03.0000 05/01/2026	0.07%
SIERRA VIEW LOCAL DT 04.0000 07/01/2023	0.07%
CT HLTH & EDU-F-REF 05.0000 07/01/2033	0.07%
OHIO ST-REV-REF 05.0000 11/15/2027	0.07%
HI DEPT BUDGET-REF 05.2500 11/15/2037	0.07%
MD ST HLTH & HGR EDU 04.0000 06/01/2034	0.07%
S E OVERTOWN PK 144A 05.0000 03/01/2030	0.07%
INDIANA ST FIN AUTH R 04.0000 06/01/2034	0.06%
SIERRA VIEW LOCAL DT 04.0000 07/01/2024	0.06%
TEMPLE-A-REV 04.0000 08/01/2032	0.06%
CALIFORNIA COMM HSG 144A 04.0000 02/01/2056	0.06%
NY TRANSPRTN DEV CORP 02.2500 08/01/2026	0.06%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2025	0.06%
INDIANA ST FIN AUTH R 05.0000 06/01/2030	0.06%
LONG BEACH-B-REV-REF 05.0000 06/01/2034	0.06%
SIERRA VIEW LOCAL DT 04.0000 07/01/2022	0.06%
TEMPLE-A-REV 05.0000 08/01/2029	0.06%
INDIANA ST FIN AUTH R 05.0000 06/01/2031	0.06%
INDIANA ST FIN AUTH R 05.0000 06/01/2032	0.06%
KEIZER ASSMT-STA AREA 05.2000 06/01/2031	0.06%
LAKE HOUSTON REDEV 05.0000 09/01/2030	0.06%
LAKE HOUSTON REDEV 05.0000 09/01/2031	0.06%
PLAZA AT NOAH'S ARK 03.0000 05/01/2025	0.06%
INDIANA ST FIN AUTH R 04.0000 06/01/2033	0.06%
TEMPLE-A-REV 04.0000 08/01/2031	0.06%
S SAN FRANCISCO PUB-A 05.0000 06/01/2032	0.06%
TEMPLE-A-REV 04.0000 08/01/2033	0.06%
WESTMORELAND CNTY PA 04.0000 07/01/2024	0.06%
GUAM PWR AUTH-A-REF 05.0000 10/01/2030	0.05%
ST JOHNS CO INDL DEV- 04.0000 12/15/2029	0.05%
UTAH INFRASTRUCTURE A 04.0000 10/15/2028	0.05%
INDIANA ST FIN AUTH R 05.0000 06/01/2027	0.05%
INDIANA ST FIN AUTH R 05.0000 06/01/2029	0.05%
NEWARK HGR EDU 05.0000 06/15/2033	0.05%
PLAZA AT NOAH'S ARK 03.0000 05/01/2024	0.05%
LAKE HOUSTON REDEV 05.0000 09/01/2029	0.05%
MI FIN AUTH -REF -REV 04.0000 02/01/2027	0.05%
VAUXMONT MET DIST CO 05.0000 12/01/2025	0.05%
ST JOHNS CO INDL DEV- 04.0000 12/15/2031	0.05%
ST JOHNS CO INDL DEV- 04.0000 12/15/2030	0.05%
FLORIDA ST DEV FIN 03.0000 07/01/2031	0.05%
PA ST ECON DEV-REF 04.0000 01/01/2031	0.04%
TEMPLE-A-REV 05.0000 08/01/2028	0.04%
CALIFORNIA ST ENTERPR 05.0000 08/01/2028	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2028	0.04%
LAKE HOUSTON REDEV 04.0000 09/01/2033	0.04%
LAKE HOUSTON REDEV 04.0000 09/01/2032	0.04%
MI FIN AUTH-C-6 05.0000 07/01/2033	0.04%
OHIO ST-REV-REF 05.0000 11/15/2024	0.04%
JEFFERSON CO-REV-REF 05.0000 09/15/2033	0.04%
TEMPLE-A-REV 05.0000 08/01/2026	0.04%
TEMPLE-A-REV 05.0000 08/01/2027	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2026	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2025	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2027	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2029	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2030	0.04%
PA ST ECON DEV-REF 04.0000 01/01/2030	0.03%
INDIANA ST FIN AUTH R 05.0000 06/01/2028	0.03%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2027	0.03%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2025	0.03%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2026	0.03%
LAKE HOUSTON REDEV 05.0000 09/01/2024	0.03%
LAKE HOUSTON REDEV 05.0000 09/01/2025	0.03%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2024	0.03%
TREASURY BILL 00.0000 06/16/2022	0.03%
MMD AAA R SP 0.0 06/23/22 CI	-0.34%
US ULTRA BOND CBT SEP22 WNU2	-0.75%

CHARLOTTE ETC HLTH-E 00.2700 01/15/2042	4.46%
UNIV OF CA REGENTS -P 05.0000 05/15/2038	3.29%
BAY AREA TOLL-C 00.3400 04/01/2053	3.27%
WA HLTH CARE-C-VAR 01.4900 01/01/2042	2.62%
METRO PIER CABS-REF-A 00.0000 12/15/2022	1.77%
DASNY -A -REV -REF 05.0000 03/15/2030	1.76%
SCRANTON SD-NTS-REF 01.3940 04/01/2031	1.73%
NYC-ADJ-1-SUBSER I-2 00.2700 03/01/2040	1.64%
MURRAY CITY HSP-IHC-C 00.2500 05/15/2036	1.31%
E-470 PUB HWY AUTH 00.5510 09/01/2039	1.28%
MET DC ARPTS-A-REF 05.0000 10/01/2043	1.27%
NYC TRANSITIONAL-F-1 05.0000 02/01/2047	1.07%
KY PUB ENERGY-C-1 04.0000 12/01/2049	1.04%
ST PAUL HSG & REDEV-A 05.5000 09/01/2036	1.02%
DETROIT MI DOWNTOWN D 05.0000 07/01/2043	1.02%
LOUISVILLE & JEFFERSO 05.0000 10/01/2030	0.98%
MS BUS-VAR-C-CHEVRON 00.2900 12/01/2030	0.96%
KY PUB ENERGY AUTH-B 04.0000 01/01/2049	0.93%
MINNEAPOLIS HLTH-B2 00.2700 11/15/2035	0.85%
CENTRL PLAINS ENERGY 05.0000 03/01/2050	0.84%
ALASKA ST INDL DEV-A 04.0000 10/01/2039	0.80%
IL FIN AUTH-VAR-REF 01.0440 11/01/2034	0.79%
DE RIVER & BAY AUTH 05.0000 01/01/2032	0.74%
ILLINOIS ST-D 05.0000 11/01/2028	0.73%
LA DEPT OF ARPTS-C 05.0000 05/15/2029	0.72%
SAN FRANCISCO CITY-A 05.0000 05/01/2029	0.72%
MAIN ST GAS-B-VAR 01.2860 04/01/2048	0.72%
PALM BEACH HLTH-REF 05.0000 11/15/2032	0.70%
NH HLTH &EDU FACS-REF 05.0000 10/01/2037	0.70%
LAKELAND HOSP 05.0000 11/15/2045	0.68%
MICHIGAN ST FIN AUTH 05.0000 02/01/2047	0.67%
MI FIN AUTH-B-LOC GOV 05.0000 07/01/2039	0.67%
ARLINGTON TX HGR EDU 04.0000 02/15/2051	0.66%
ID HLTH FACS AUTH-C 00.2800 03/01/2048	0.62%
PITTSBURGH WTR SWR-C 01.0900 09/01/2040	0.61%
SAINT JOHN THE BAPTIS 02.2000 06/01/2037	0.61%
OHIO ST -REV -REF 05.0000 07/01/2035	0.59%
HEMPSTEAD NY UNION-A 01.0000 06/30/2022	0.57%
NEW YORK NY 05.0000 08/01/2032	0.57%
ILLINOIS ST 05.0000 11/01/2034	0.56%
IOWA ST FIN AUTH-AMT 01.5000 01/01/2042	0.55%
NJ HLTH VAR-C-VIRTUA 00.2500 07/01/2043	0.54%
FARMINGTON-REV-B-REF 02.1500 04/01/2033	0.54%
MASSACHUSETTS ST-A 05.2500 04/01/2047	0.53%
ORLANDO REDEV AGY-REF 05.0000 04/01/2023	0.53%
ILLINOIS ST FIN AUTH 05.0000 03/01/2030	0.53%
SC PUB SVC AUTH-A-REF 05.0000 12/01/2036	0.52%
GA MUNI ELEC AUTH-A 05.5000 07/01/2060	0.52%
CT ST HLTH & EDUCTNL 05.0000 07/01/2032	0.52%
PUBLIC FIN AUTH-A 05.0000 07/01/2054	0.52%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2036	0.51%
KY TPK AUTH -A -2022 05.0000 07/01/2032	0.51%
BURKE DEV AUTH-A 01.5000 01/01/2040	0.50%
MET TRANS AUTH-A2A 00.8900 11/01/2026	0.50%
CUYAHOGA CO REV REF 05.0000 01/01/2038	0.49%
NJ HLTH-VAR-B-AHS HOS 00.4400 07/01/2036	0.49%
CA ST INFRA-C 00.7900 08/01/2047	0.49%
LOS ANGELES DEPT ARPT 04.0000 05/15/2039	0.49%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2038	0.48%
HALIFAX HOSP MED-REF 05.0000 06/01/2036	0.48%
NJ TRANSPRTN TRUST-A 04.0000 06/15/2039	0.48%
MMD AAA P SP 0.0 06/23/22 CI	0.46%
INDIANAPOLIS LOCAL-A 05.0000 02/01/2054	0.44%
TARRANT CNTY TX CULTU 05.0000 11/15/2037	0.44%
AZ INDL DEV AUTH-A 05.0000 11/01/2036	0.43%
KY TPK AUTH -A -2022 05.0000 07/01/2031	0.43%
OHIO ST -REV -REF 05.0000 07/01/2036	0.43%
CT HLTH & EDU-F-REF 05.0000 07/01/2034	0.43%
ILLINOIS ST 05.0000 11/01/2029	0.43%
JPM-DRIVERS-XF0805 P/P 07.1100 08/01/2037	0.42%
NEW HOPE EDU FACS-A 05.0000 04/01/2029	0.42%
DC-KIPP-SER A-REF 05.0000 07/01/2048	0.42%
ALLEGHENY CO ARPRT-A 04.0000 01/01/2040	0.40%
MICHIGAN ST FIN AUTH 05.2500 02/01/2032	0.39%
JEFFERSON CO-REV-REF 05.0000 09/15/2034	0.38%
CA ST PUB WKS-A 05.0000 08/01/2032	0.38%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2028	0.36%
LOS ANGELES INTL ARPT 05.0000 05/15/2032	0.36%
SALT VERDE FNL CORP 05.5000 12/01/2029	0.36%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2029	0.36%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2030	0.36%
OHIO TPK & INFRA-A 05.0000 02/15/2029	0.36%
SAN FRANCISCO CITY-A 05.0000 05/01/2030	0.36%
MET WASHINGTON ARPT 05.0000 10/01/2031	0.36%
GREATER CHICAGO MET-A 05.0000 12/01/2031	0.36%
ILLINOIS FIN AUTH-B-2 05.0000 05/15/2050	0.35%
PUBLIC FIN AUTH-A 05.0000 07/01/2044	0.35%
AZ INDL DEV AUTH-A 05.0000 11/01/2033	0.35%
SA ENERGY ACQ PUB FAC 05.5000 08/01/2025	0.35%
DULUTH MN ECON DEV AU 05.0000 06/15/2032	0.35%
AZ INDL DEV AUTH-A 05.0000 11/01/2039	0.35%
WA ST HSG FIN -A-1 03.5000 12/20/2035	0.34%
CHICAGO IL BRD OF EDU 05.0000 12/01/2039	0.34%
KENTWOOD MI ECON DEV 05.0000 11/15/2037	0.34%
ORANGE CO HLTH FACS 05.0000 08/01/2034	0.34%
CA ST MUNI FIN-A-REF 04.0000 10/01/2032	0.34%
WI HLTH & EDUCTNL-REF 05.0000 08/15/2033	0.34%
CA POLL FING AUTH 04.7500 11/01/2046	0.34%
DALLAS -REV -REF 04.0000 08/15/2035	0.34%
DALLAS -REV -REF 04.0000 08/15/2036	0.34%
DALLAS -REV -REF 04.0000 08/15/2037	0.34%
DALLAS -REV -REF 04.0000 08/15/2038	0.34%
TOB SETTLEMT FING-B 05.0000 06/01/2050	0.34%
CENTRAL PLAINS ENERGY 05.0000 09/01/2032	0.33%
GLENDALE INDL DEV-REF 04.0000 05/15/2029	0.33%
GLENDALE INDL DEV-REF 04.0000 05/15/2031	0.33%
DT OF COLUMBIA 04.0000 06/01/2030	0.33%
ROCHESTER HLTH-B-MAYO 00.4000 11/15/2038	0.33%
NATIONAL FIN AUTH-A 144A 03.7500 08/15/2030	0.33%
CA INFRA & ECON-B-REF 01.1400 12/01/2050	0.32%
ILLINOIS ST-D 05.0000 11/01/2027	0.32%
IOWA FIN AUTH -A-REF 04.0000 05/15/2046	0.32%
SANTA FE RETMNT FAC 05.0000 05/15/2042	0.32%
RESTRUCTURED-SER A1 05.6250 07/01/2027	0.32%
CHICAGO IL-A-REF 04.0000 01/01/2036	0.31%
NEW HOPE CULT EDU-B1 05.0000 07/01/2038	0.30%
CA HSG FIN AGY CTFS 03.5000 11/20/2035	0.30%
DULUTH MN ECON DEV AU 05.0000 06/15/2030	0.30%
FORT BEND ISD -B REF 00.7200 08/01/2051	0.30%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2029	0.29%
NEW HOPE EDU FACS-A 05.0000 04/01/2035	0.28%
ILLINOIS ST 04.1250 11/01/2031	0.27%
PACIFICA SD 04.0000 08/01/2045	0.27%
NEW JERSEY ST TRANSPR 05.0000 06/15/2036	0.27%
OAKLAND PORT-H-REF 05.0000 05/01/2028	0.27%
ALBANY RES CORP-A-REF 05.0000 05/01/2023	0.27%
CHULA VISTA FING-REF 05.5000 09/01/2030	0.26%
NEW JERSEY ST TRANSPR 05.0000 06/15/2028	0.26%
CHICAGO WSTWTR TRANS 05.0000 01/01/2039	0.26%
DALLAS -REV -REF 04.0000 08/15/2034	0.25%
MI FIN AUTH-C-3-REF 05.0000 04/01/2028	0.25%
MN HGR EDU FACS-A 05.0000 05/01/2046	0.25%
CHESTER CO IDA-A 05.0000 08/01/2045	0.24%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2036	0.24%
PA ST ECON DEV-REF 04.0000 01/01/2029	0.24%
SEATTLE-MUNI LIGHT-B 00.6900 05/01/2045	0.24%
NEW YORK MTGE AGY-196 02.6000 04/01/2025	0.24%
MI FIN AUTH -A-REF 02.3260 06/01/2030	0.24%
DETROIT 05.5000 04/01/2034	0.24%
PA TURNPIKE-B1 05.0000 06/01/2042	0.24%
FRANKLIN CNTY OH HLTH 05.0000 11/15/2034	0.24%
CT HLTH & EDU-L-1 04.0000 07/01/2026	0.24%
NC MED CARE COMM-C 04.0000 03/01/2029	0.24%
MASSACHUSETTS ST HSG 03.1000 06/01/2030	0.23%
CHICAGO WTRWRKS-2ND 05.0000 11/01/2039	0.23%
SIERRA VIEW LOCAL DT 05.0000 07/01/2030	0.23%
ILLINOIS ST 04.0000 01/01/2031	0.23%
TREASURY BILL 00.0000 06/09/2022	0.23%
ALBANY RES CORP-A-REF 05.0000 05/01/2025	0.23%
SIERRA VIEW LOCAL DT 05.0000 07/01/2027	0.22%
VLG FL CDD 13 SPL AS 01.8750 05/01/2025	0.21%
VA SMALL BUS FIN-A 05.0000 01/01/2029	0.21%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2026	0.21%
MYRTLE BEACH SC TAX I 05.0000 10/01/2028	0.20%
UTAH ST CHRT SCH FIN 05.0000 10/15/2030	0.20%
ILLINOIS ST 05.0000 11/01/2041	0.20%
ALBANY RES CORP-A-REF 05.0000 05/01/2024	0.20%
DULUTH ECON DEV AUTH 04.0000 07/01/2031	0.20%
LOS ANGELES INTL ARPT 04.0000 05/15/2035	0.20%
LANCASTER INDL DEV AU 04.0000 07/01/2046	0.20%
PORT OF GRTR CINCI 04.2500 12/01/2050	0.20%
PORT OF OAKLAND CA 01.0810 05/01/2024	0.20%
UTAH INFRASTRUCTURE A 04.0000 10/15/2029	0.19%
CHICAGO WSTWTR 05.0000 01/01/2039	0.19%
LOS ANGELES CO REGL 05.0000 12/01/2034	0.19%
ALASKA ST INDL DEV-A 04.0000 10/01/2038	0.18%
MI FIN AUTH-H-1-REF 05.0000 10/01/2039	0.18%
MS BUSINESS FIN CORP- 02.3750 06/01/2044	0.18%
PA ST ECON DEV-REF 04.0000 01/01/2032	0.18%
MATCHING FUND SPL-A 05.0000 10/01/2027	0.18%
NEW HOPE CULT EDU-A 05.0000 04/01/2025	0.18%
SC PUB SVC AUTH-B-REF 05.0000 12/01/2037	0.18%
SCIOTO CO HOSP FACS 05.0000 02/15/2033	0.18%
NEW HAMPSHIRE ST HLTH 05.0000 07/01/2044	0.17%
NEW YORK TRANSPRTN-A 05.0000 12/01/2029	0.17%
KY PUB TRANSPTRN-A 06.0000 07/01/2053	0.17%
MONROEVILLE FIN-B 05.0000 02/15/2024	0.17%
WARREN HLTHCR-A-REF 05.7500 07/01/2033	0.17%
CHICAGO WSTWTR 05.0000 01/01/2044	0.17%
MA DEV FIN AGY-REF 04.0000 01/01/2026	0.17%
IL FIN AUTH-A 05.0000 02/15/2050	0.16%
LA STADIUM & EXPO DT 04.0000 07/03/2023	0.16%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2030	0.16%
JPM-DRIVERS-XF0804 P/P 07.9340 08/01/2049	0.16%
LACKAWANNA CNTY PA IN 04.0000 11/01/2040	0.16%
HARRIS CULTURAL EDU-A 05.0000 06/01/2038	0.16%
JPM-DRIVERS-XF0845 P/P 13.8020 11/15/2044	0.16%
SILVER CREEK SCH BLDG 03.0000 01/15/2036	0.15%
NC MED CARE COMM-C 05.0000 03/01/2027	0.15%
CUYAHOGA CO REV REF 05.0000 01/01/2036	0.15%
NC MED CARE COMM-C 05.0000 03/01/2026	0.15%
ALBANY RES CORP-A-REF 05.0000 05/01/2026	0.14%
CHICAGO WSTWTR TRANS 05.0000 01/01/2033	0.14%
ILLINOIS ST FIN AUTH 05.0000 08/01/2031	0.14%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2033	0.14%
CHICAGO WSTWTR TRANS 05.0000 01/01/2034	0.14%
CAPITAL TRUST AGY FL 03.3000 01/01/2031	0.14%
WESTMORELAND CNTY PA 05.0000 07/01/2027	0.14%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2028	0.13%
ARLINGTON HGR EDU-A 04.0000 12/01/2032	0.13%
NEW HOPE EDU FACS-A 05.0000 04/01/2047	0.13%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2033	0.13%
UTAH INFRASTRUCTURE A 04.0000 10/15/2030	0.13%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2027	0.12%
CLIFTON HGR EDU FIN 05.0000 08/15/2027	0.12%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2026	0.12%
YUCAIPA SPL TAX-REF 05.3750 09/01/2030	0.12%
NJ ECON DEV AUTH-AAA 05.0000 06/15/2036	0.12%
NC MED CARE COMM-C 05.0000 03/01/2028	0.12%
FAIRFAX CNTY VA ECON 05.0000 10/01/2042	0.12%
DOUBLE BRANCH CDD-A1 04.2500 05/01/2034	0.12%
SILVER CREEK SCH BLDG 03.0000 01/15/2034	0.12%
ILLINOIS ST 05.0000 01/01/2041	0.11%
VA SMALL BUS FIN-A 05.0000 01/01/2027	0.11%
FLORIDA ST DEV FIN CO 05.0000 07/01/2031	0.11%
JPM-DRIVERS-XF0852 P/P 07.0880 10/01/2049	0.11%
VAUXMONT MET DIST CO 05.0000 12/01/2034	0.11%
JPM-DRIVERS-XF0919 P/P 07.0370 10/01/2053	0.10%
GAITHERSBURG ECON-A 05.0000 01/01/2036	0.10%
MET PIER & EXPOSITION 05.0000 12/15/2033	0.10%
WESTMORELAND CNTY PA 04.0000 07/01/2026	0.10%
SIERRA VIEW LOCAL DT 04.0000 07/01/2026	0.10%
DALLAS AREA MUNI AUTH 05.0000 05/01/2029	0.10%
GA MUNI ELEC AUTH-A 04.0000 01/01/2046	0.10%
OHIO ST-REV-REF 05.0000 11/15/2026	0.10%
JPM-DRIVERS-XF0850 P/P 13.2370 12/01/2049	0.10%
WESTMORELAND CNTY PA 05.0000 07/01/2028	0.10%
SIERRA VIEW LOCAL DT 04.0000 07/01/2025	0.10%
MI FIN AUTH -REF -REV 04.0000 02/01/2032	0.09%
VAUXMONT MET DIST CO 05.0000 12/01/2032	0.09%
TEMPLE-A-REV 05.0000 08/01/2030	0.09%
PLAZA AT NOAH'S ARK 03.0000 05/01/2026	0.09%
SIERRA VIEW LOCAL DT 04.0000 07/01/2023	0.09%
CT HLTH & EDU-F-REF 05.0000 07/01/2033	0.09%
OHIO ST-REV-REF 05.0000 11/15/2027	0.09%
HI DEPT BUDGET-REF 05.2500 11/15/2037	0.08%
MD ST HLTH & HGR EDU 04.0000 06/01/2034	0.08%
S E OVERTOWN PK 144A 05.0000 03/01/2030	0.08%
SIERRA VIEW LOCAL DT 04.0000 07/01/2024	0.08%
INDIANA ST FIN AUTH R 04.0000 06/01/2034	0.08%
TEMPLE-A-REV 04.0000 08/01/2032	0.08%
NY TRANSPRTN DEV CORP 02.2500 08/01/2026	0.08%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2025	0.08%
SIERRA VIEW LOCAL DT 04.0000 07/01/2022	0.08%
KEIZER ASSMT-STA AREA 05.2000 06/01/2031	0.07%
CALIFORNIA COMM HSG 144A 04.0000 02/01/2056	0.07%
INDIANA ST FIN AUTH R 05.0000 06/01/2030	0.07%
INDIANA ST FIN AUTH R 05.0000 06/01/2031	0.07%
INDIANA ST FIN AUTH R 05.0000 06/01/2032	0.07%
TEMPLE-A-REV 05.0000 08/01/2029	0.07%
LAKE HOUSTON REDEV 05.0000 09/01/2030	0.07%
LAKE HOUSTON REDEV 05.0000 09/01/2031	0.07%
PLAZA AT NOAH'S ARK 03.0000 05/01/2025	0.07%
INDIANA ST FIN AUTH R 04.0000 06/01/2033	0.07%
ST JOHNS CO INDL DEV- 04.0000 12/15/2029	0.07%
TEMPLE-A-REV 04.0000 08/01/2031	0.07%
TEMPLE-A-REV 04.0000 08/01/2033	0.07%
WESTMORELAND CNTY PA 04.0000 07/01/2024	0.07%
GUAM PWR AUTH-A-REF 05.0000 10/01/2030	0.07%
NEWARK HGR EDU 05.0000 06/15/2033	0.07%
MMD AAA P SP 0.0 05/24/22 MS	0.06%
MMD AAA P SP 0.0 05/26/22 MS	0.06%
UTAH INFRASTRUCTURE A 04.0000 10/15/2028	0.06%
INDIANA ST FIN AUTH R 05.0000 06/01/2027	0.06%
INDIANA ST FIN AUTH R 05.0000 06/01/2029	0.06%
PLAZA AT NOAH'S ARK 03.0000 05/01/2024	0.06%
ST JOHNS CO INDL DEV- 04.0000 12/15/2031	0.06%
LAKE HOUSTON REDEV 05.0000 09/01/2029	0.06%
MI FIN AUTH -REF -REV 04.0000 02/01/2027	0.06%
ST JOHNS CO INDL DEV- 04.0000 12/15/2030	0.06%
VAUXMONT MET DIST CO 05.0000 12/01/2025	0.06%
FLORIDA ST DEV FIN 03.0000 07/01/2031	0.06%
PA ST ECON DEV-REF 04.0000 01/01/2031	0.06%
TEMPLE-A-REV 05.0000 08/01/2028	0.06%
CALIFORNIA ST ENTERPR 05.0000 08/01/2028	0.05%
LAKE HOUSTON REDEV 05.0000 09/01/2028	0.05%
LAKE HOUSTON REDEV 04.0000 09/01/2032	0.05%
LAKE HOUSTON REDEV 04.0000 09/01/2033	0.05%
MI FIN AUTH-C-6 05.0000 07/01/2033	0.05%
OHIO ST-REV-REF 05.0000 11/15/2024	0.05%
JEFFERSON CO-REV-REF 05.0000 09/15/2033	0.04%
TEMPLE-A-REV 05.0000 08/01/2027	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2026	0.04%
TEMPLE-A-REV 05.0000 08/01/2026	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2025	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2027	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2029	0.04%
VAUXMONT MET DIST CO 05.0000 12/15/2030	0.04%
PA ST ECON DEV-REF 04.0000 01/01/2030	0.04%
INDIANA ST FIN AUTH R 05.0000 06/01/2028	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2027	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2025	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2025	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2026	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2024	0.03%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2024	0.03%
TREASURY BILL 00.0000 06/16/2022	0.03%
MMD AAA R SP 0.0 05/24/22 MS	-0.07%
MMD AAA R SP 0.0 05/26/22 MS	-0.07%
MMD AAA R SP 0.0 06/23/22 CI	-0.55%
US ULTRA BOND CBT JUN22 WNM2	-0.94%

WA HLTH CARE-C-VAR 01.5600 01/01/2042	2.88%
DASNY -A -REV -REF 05.0000 03/15/2030	2.00%
METRO PIER CABS-REF-A 00.0000 12/15/2022	1.94%
SCRANTON SD-NTS-REF 01.1590 04/01/2031	1.89%
MET DC ARPTS-A-REF 05.0000 10/01/2043	1.44%
E-470 PUB HWY AUTH 00.5510 09/01/2039	1.42%
CHARLOTTE ETC HLTH-E 00.1700 01/15/2042	1.40%
NYC TRANSITIONAL -C-1 05.0000 02/01/2044	1.24%
KY PUB ENERGY-C-1 04.0000 12/01/2049	1.17%
ST PAUL HSG & REDEV-A 05.5000 09/01/2036	1.15%
DETROIT MI DOWNTOWN D 05.0000 07/01/2043	1.13%
LOUISVILLE & JEFFERSO 05.0000 10/01/2030	1.10%
HENNEPIN CO-B-REF 00.5000 12/01/2038	1.08%
KY PUB ENERGY AUTH-B 04.0000 01/01/2049	1.04%
ALASKA ST INDL DEV-A 04.0000 10/01/2039	0.93%
CENTRL PLAINS ENERGY 05.0000 03/01/2050	0.93%
IL FIN AUTH-VAR-REF 00.8090 11/01/2034	0.86%
DE RIVER & BAY AUTH 05.0000 01/01/2032	0.85%
ILLINOIS ST-D 05.0000 11/01/2028	0.82%
LA DEPT OF ARPTS-C 05.0000 05/15/2029	0.82%
SAN FRANCISCO CITY-A 05.0000 05/01/2029	0.82%
PALM BEACH HLTH-REF 05.0000 11/15/2032	0.79%
MAIN ST GAS-B-VAR 01.0550 04/01/2048	0.79%
NH HLTH &EDU FACS-REF 05.0000 10/01/2037	0.78%
ARLINGTON TX HGR EDU 04.0000 02/15/2051	0.77%
MICHIGAN ST FIN AUTH 05.0000 02/01/2047	0.75%
LAKELAND HOSP 05.0000 11/15/2045	0.75%
LOVE FIELD TX ARPT MO 04.0000 11/01/2037	0.74%
MI FIN AUTH-B-LOC GOV 05.0000 07/01/2039	0.74%
MET WA DC ARPTS-A 05.0000 10/01/2053	0.72%
MURRAY CITY HSP-VAR-A 00.1500 05/15/2037	0.72%
NYC WTR-A-1-DD-2ND GE 00.1900 06/15/2043	0.72%
SAINT JOHN THE BAPTIS 02.2000 06/01/2037	0.69%
ID HLTH FACS AUTH-C 00.2700 03/01/2048	0.68%
PITTSBURGH WTR SWR-C 01.1600 09/01/2040	0.67%
NEW YORK NY 05.0000 08/01/2032	0.65%
ILLINOIS ST 05.0000 11/01/2034	0.64%
FARMINGTON-REV-B-REF 02.1500 04/01/2033	0.63%
HEMPSTEAD NY UNION-A 01.0000 06/30/2022	0.63%
IOWA ST FIN AUTH-AMT 01.5000 01/01/2042	0.60%
MASSACHUSETTS ST-A 05.2500 04/01/2047	0.60%
NJ HLTH VAR-C-VIRTUA 00.2200 07/01/2043	0.60%
ILLINOIS ST FIN AUTH 05.0000 03/01/2030	0.59%
CT ST HLTH & EDUCTNL 05.0000 07/01/2032	0.59%
SC PUB SVC AUTH-A-REF 05.0000 12/01/2036	0.59%
GA MUNI ELEC AUTH-A 05.5000 07/01/2060	0.58%
ORLANDO REDEV AGY-REF 05.0000 04/01/2023	0.58%
PUBLIC FIN AUTH-A 05.0000 07/01/2054	0.58%
KY TPK AUTH -A -2022 05.0000 07/01/2032	0.58%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2036	0.57%
LOS ANGELES INTL ARPT 04.0000 05/15/2042	0.56%
BURKE DEV AUTH-A 01.5000 01/01/2040	0.56%
NJ TRANSPRTN TRUST-A 04.0000 06/15/2039	0.56%
CUYAHOGA CO REV REF 05.0000 01/01/2038	0.56%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2038	0.55%
MET TRANS AUTH-A2A 00.9600 11/01/2026	0.55%
TNDR OPT-RSDL-XF0805 P/P 05.8810 08/01/2037	0.55%
HALIFAX HOSP MED-REF 05.0000 06/01/2036	0.54%
NJ HLTH-VAR-B-AHS HOS 00.5100 07/01/2036	0.54%
CA ST INFRA-C 00.8600 08/01/2047	0.54%
INDIANAPOLIS LOCAL-A 05.0000 02/01/2054	0.50%
TARRANT CNTY TX CULTU 05.0000 11/15/2037	0.50%
AZ INDL DEV AUTH-A 05.0000 11/01/2036	0.49%
KY TPK AUTH -A -2022 05.0000 07/01/2031	0.49%
ILLINOIS ST 05.0000 11/01/2029	0.48%
DC-KIPP-SER A-REF 05.0000 07/01/2048	0.48%
CT HLTH & EDU-F-REF 05.0000 07/01/2034	0.48%
NEW HOPE EDU FACS-A 05.0000 04/01/2029	0.46%
ALLEGHENY CO ARPRT-A 04.0000 01/01/2040	0.46%
AZ INDL DEV AUTH-A 05.0000 11/01/2038	0.44%
MICHIGAN ST FIN AUTH 05.2500 02/01/2032	0.44%
CA ST PUB WKS-A 05.0000 08/01/2032	0.43%
JEFFERSON CO-REV-REF 05.0000 09/15/2034	0.43%
LOS ANGELES INTL ARPT 05.0000 05/15/2032	0.42%
SALT VERDE FNL CORP 05.5000 12/01/2029	0.42%
SAN FRANCISCO CITY-A 05.0000 05/01/2030	0.41%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2029	0.41%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2030	0.41%
MET WASHINGTON ARPT 05.0000 10/01/2031	0.41%
WA ST HSG FIN -A-1 03.5000 12/20/2035	0.41%
OHIO TPK & INFRA-A 05.0000 02/15/2029	0.41%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2028	0.41%
DULUTH MN ECON DEV AU 05.0000 06/15/2032	0.41%
GREATER CHICAGO MET-A 05.0000 12/01/2031	0.40%
AZ INDL DEV AUTH-A 05.0000 11/01/2034	0.40%
PUBLIC FIN AUTH-A 05.0000 07/01/2044	0.40%
ILLINOIS FIN AUTH-B-2 05.0000 05/15/2050	0.40%
SA ENERGY ACQ PUB FAC 05.5000 08/01/2025	0.39%
CHICAGO IL BRD OF EDU 05.0000 12/01/2039	0.39%
CA POLL FING AUTH 04.7500 11/01/2046	0.39%
KENTWOOD MI ECON DEV 05.0000 11/15/2037	0.38%
IOWA FIN AUTH -A-REF 04.0000 05/15/2046	0.38%
CA ST MUNI FIN-A-REF 04.0000 10/01/2032	0.38%
DALLAS -REV -REF 04.0000 08/15/2035	0.38%
DALLAS -REV -REF 04.0000 08/15/2036	0.38%
DALLAS -REV -REF 04.0000 08/15/2037	0.38%
DALLAS -REV -REF 04.0000 08/15/2038	0.38%
ORANGE CO HLTH FACS 05.0000 08/01/2034	0.38%
TOB SETTLEMT FING-B 05.0000 06/01/2050	0.38%
DT OF COLUMBIA 04.0000 06/01/2030	0.38%
WI HLTH & EDUCTNL-REF 05.0000 08/15/2033	0.37%
GLENDALE INDL DEV-REF 04.0000 05/15/2029	0.37%
NATIONAL FIN AUTH-A 144A 03.7500 08/15/2030	0.37%
GLENDALE INDL DEV-REF 04.0000 05/15/2031	0.37%
CENTRAL PLAINS ENERGY 05.0000 09/01/2032	0.36%
ILLINOIS ST-D 05.0000 11/01/2027	0.36%
FLORIDA DEV FIN CORP 04.0000 02/01/2052	0.36%
CA INFRA & ECON-B-REF 01.2100 12/01/2050	0.36%
ROCHESTER HLTH-B-MAYO 00.4800 11/15/2038	0.36%
CHICAGO IL-B 04.0000 01/01/2037	0.36%
SANTA FE RETMNT FAC 05.0000 05/15/2042	0.35%
NEW HOPE CULT EDU-B1 05.0000 07/01/2038	0.35%
CA HSG FIN AGY CTFS 03.5000 11/20/2035	0.34%
DULUTH MN ECON DEV AU 05.0000 06/15/2030	0.34%
FORT BEND ISD -B REF 00.7200 08/01/2051	0.33%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2029	0.33%
PACIFICA SD 04.0000 08/01/2045	0.32%
NEW JERSEY ST TRANSPR 05.0000 06/15/2036	0.32%
NEW HOPE EDU FACS-A 05.0000 04/01/2035	0.31%
ILLINOIS ST 04.1250 11/01/2031	0.31%
OAKLAND PORT-H-REF 05.0000 05/01/2028	0.30%
NEW JERSEY ST TRANSPR 05.0000 06/15/2028	0.30%
ALBANY RES CORP-A-REF 05.0000 05/01/2023	0.30%
CHULA VISTA FING-REF 05.5000 09/01/2030	0.29%
CHICAGO WSTWTR TRANS 05.0000 01/01/2039	0.29%
MMD AAA P SP 0.0 06/23/22 CI	0.29%
DALLAS -REV -REF 04.0000 08/15/2034	0.28%
MI FIN AUTH-C-3-REF 05.0000 04/01/2028	0.28%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2036	0.28%
MN HGR EDU FACS-A 05.0000 05/01/2046	0.28%
PA ST ECON DEV-REF 04.0000 01/01/2029	0.28%
NC MED CARE COMM-C 04.0000 03/01/2029	0.27%
CHESTER CO IDA-A 05.0000 08/01/2045	0.27%
DETROIT 05.5000 04/01/2034	0.27%
NEW YORK MTGE AGY-196 02.6000 04/01/2025	0.27%
MI FIN AUTH -A-REF 02.3260 06/01/2030	0.27%
MS BUSINESS FIN-REF 02.5000 04/01/2022	0.27%
PA TURNPIKE-B1 05.0000 06/01/2042	0.27%
SEATTLE-MUNI LIGHT-B 00.7600 05/01/2045	0.27%
CT HLTH & EDU-L-1 04.0000 07/01/2026	0.26%
FRANKLIN CNTY OH HLTH 05.0000 11/15/2034	0.26%
MASSACHUSETTS ST HSG 03.1000 06/01/2030	0.26%
SIERRA VIEW LOCAL DT 05.0000 07/01/2030	0.26%
ILLINOIS ST 04.0000 01/01/2031	0.26%
CHICAGO WTRWRKS-2ND 05.0000 11/01/2039	0.26%
ALBANY RES CORP-A-REF 05.0000 05/01/2025	0.25%
SIERRA VIEW LOCAL DT 05.0000 07/01/2027	0.25%
TREASURY BILL 00.0000 06/09/2022	0.25%
VLG FL CDD 13 SPL AS 01.8750 05/01/2025	0.24%
VA SMALL BUS FIN-A 05.0000 01/01/2029	0.24%
LANCASTER INDL DEV AU 04.0000 07/01/2046	0.24%
PORT OF GRTR CINCI 04.2500 12/01/2050	0.23%
ILLINOIS ST 05.0000 11/01/2041	0.23%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2026	0.23%
UTAH ST CHRT SCH FIN 05.0000 10/15/2030	0.23%
LOS ANGELES INTL ARPT 04.0000 05/15/2035	0.23%
MYRTLE BEACH SC TAX I 05.0000 10/01/2028	0.23%
DULUTH ECON DEV AUTH 04.0000 07/01/2031	0.23%
ALBANY RES CORP-A-REF 05.0000 05/01/2024	0.22%
UTAH INFRASTRUCTURE A 04.0000 10/15/2027	0.22%
MS BUSINESS FIN CORP- 02.3750 06/01/2044	0.21%
PORT OF OAKLAND CA 01.0810 05/01/2024	0.21%
ALASKA ST INDL DEV-A 04.0000 10/01/2038	0.21%
CHICAGO WSTWTR 05.0000 01/01/2039	0.21%
PA ST ECON DEV-REF 04.0000 01/01/2032	0.20%
MI FIN AUTH-H-1-REF 05.0000 10/01/2039	0.20%
TNDR OPT-RSDL-XF0804 P/P 06.5870 08/01/2049	0.20%
NEW YORK TRANSPRTN-A 05.0000 12/01/2029	0.20%
SC PUB SVC AUTH-B-REF 05.0000 12/01/2037	0.20%
NEW HAMPSHIRE ST HLTH 05.0000 07/01/2044	0.20%
SCIOTO CO HOSP FACS 05.0000 02/15/2033	0.20%
NEW HOPE CULT EDU-A 05.0000 04/01/2025	0.19%
IL FIN AUTH-A 05.0000 02/15/2050	0.19%
TNDR OPT-RSDL-XF0845 P/P 13.6520 11/15/2044	0.19%
KY PUB TRANSPTRN-A 06.0000 07/01/2053	0.19%
LACKAWANNA CNTY PA IN 04.0000 11/01/2040	0.19%
WARREN HLTHCR-A-REF 05.7500 07/01/2033	0.19%
CHICAGO WSTWTR 05.0000 01/01/2044	0.19%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2030	0.19%
MA DEV FIN AGY-REF 04.0000 01/01/2026	0.18%
LA STADIUM & EXPO DT 04.0000 07/03/2023	0.18%
SILVER CREEK SCH BLDG 03.0000 01/15/2036	0.18%
HARRIS CULTURAL EDU-A 05.0000 06/01/2038	0.18%
NC MED CARE COMM-C 05.0000 03/01/2027	0.18%
CUYAHOGA CO REV REF 05.0000 01/01/2036	0.17%
NC MED CARE COMM-C 05.0000 03/01/2026	0.17%
ALBANY RES CORP-A-REF 05.0000 05/01/2026	0.16%
ILLINOIS ST FIN AUTH 05.0000 08/01/2031	0.16%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2033	0.16%
CHICAGO WSTWTR TRANS 05.0000 01/01/2033	0.16%
CAPITAL TRUST AGY FL 03.3000 01/01/2031	0.15%
CHICAGO WSTWTR TRANS 05.0000 01/01/2034	0.15%
UTAH INFRASTRUCTURE A 04.0000 10/15/2030	0.15%
WESTMORELAND CNTY PA 05.0000 07/01/2027	0.15%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2028	0.15%
ARLINGTON HGR EDU-A 04.0000 12/01/2032	0.14%
NEW HOPE EDU FACS-A 05.0000 04/01/2047	0.14%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2033	0.14%
NC MED CARE COMM-C 05.0000 03/01/2028	0.14%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2027	0.14%
CLIFTON HGR EDU FIN 05.0000 08/15/2027	0.14%
NJ ECON DEV AUTH-AAA 05.0000 06/15/2036	0.14%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2026	0.14%
SILVER CREEK SCH BLDG 03.0000 01/15/2034	0.14%
TNDR OPT-RSDL-XF0850 P/P 13.0880 12/01/2049	0.14%
YUCAIPA SPL TAX-REF 05.3750 09/01/2030	0.14%
FAIRFAX CNTY VA ECON 05.0000 10/01/2042	0.13%
DOUBLE BRANCH CDD-A1 04.2500 05/01/2034	0.13%
ILLINOIS ST 05.0000 01/01/2041	0.13%
TNDR OPT-RSDL-XF0852 P/P 05.8620 10/01/2049	0.13%
VA SMALL BUS FIN-A 05.0000 01/01/2027	0.13%
TNDR OPT-RSDL-XF0919 P/P 05.8090 10/01/2053	0.12%
FLORIDA ST DEV FIN CO 05.0000 07/01/2031	0.12%
VAUXMONT MET DIST CO 05.0000 12/01/2034	0.12%
GA MUNI ELEC AUTH-A 04.0000 01/01/2046	0.12%
MET PIER & EXPOSITION 05.0000 12/15/2033	0.12%
GAITHERSBURG ECON-A 05.0000 01/01/2036	0.12%
SIERRA VIEW LOCAL DT 04.0000 07/01/2026	0.12%
WESTMORELAND CNTY PA 04.0000 07/01/2026	0.12%
OHIO ST-REV-REF 05.0000 11/15/2026	0.11%
WESTMORELAND CNTY PA 05.0000 07/01/2028	0.11%
DALLAS AREA MUNI AUTH 05.0000 05/01/2029	0.11%
SIERRA VIEW LOCAL DT 04.0000 07/01/2025	0.11%
TREASURY BILL 00.0000 04/26/2022	0.11%
MI FIN AUTH -REF -REV 04.0000 02/01/2032	0.11%
VAUXMONT MET DIST CO 05.0000 12/01/2032	0.10%
TEMPLE-A-REV 05.0000 08/01/2030	0.10%
OHIO ST-REV-REF 05.0000 11/15/2027	0.10%
PLAZA AT NOAH'S ARK 03.0000 05/01/2026	0.10%
CT HLTH & EDU-F-REF 05.0000 07/01/2033	0.10%
SIERRA VIEW LOCAL DT 04.0000 07/01/2023	0.10%
MD ST HLTH & HGR EDU 04.0000 06/01/2034	0.09%
HI DEPT BUDGET-REF 05.2500 11/15/2037	0.09%
INDIANA ST FIN AUTH R 04.0000 06/01/2034	0.09%
S E OVERTOWN PK 144A 05.0000 03/01/2030	0.09%
SIERRA VIEW LOCAL DT 04.0000 07/01/2024	0.09%
TEMPLE-A-REV 04.0000 08/01/2032	0.09%
NY TRANSPRTN DEV CORP 02.2500 08/01/2026	0.09%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2025	0.08%
CALIFORNIA COMM HSG 144A 04.0000 02/01/2056	0.08%
KEIZER ASSMT-STA AREA 05.2000 06/01/2031	0.08%
INDIANA ST FIN AUTH R 05.0000 06/01/2030	0.08%
INDIANA ST FIN AUTH R 05.0000 06/01/2031	0.08%
INDIANA ST FIN AUTH R 05.0000 06/01/2032	0.08%
SIERRA VIEW LOCAL DT 04.0000 07/01/2022	0.08%
LAKE HOUSTON REDEV 05.0000 09/01/2031	0.08%
TEMPLE-A-REV 05.0000 08/01/2029	0.08%
INDIANA ST FIN AUTH R 04.0000 06/01/2033	0.08%
LAKE HOUSTON REDEV 05.0000 09/01/2030	0.08%
PLAZA AT NOAH'S ARK 03.0000 05/01/2025	0.08%
ST JOHNS CO INDL DEV- 04.0000 12/15/2029	0.08%
TEMPLE-A-REV 04.0000 08/01/2031	0.08%
TEMPLE-A-REV 04.0000 08/01/2033	0.08%
UTAH INFRASTRUCTURE A 04.0000 10/15/2028	0.08%
WESTMORELAND CNTY PA 04.0000 07/01/2024	0.08%
GUAM PWR AUTH-A-REF 05.0000 10/01/2030	0.07%
INDIANA ST FIN AUTH R 05.0000 06/01/2027	0.07%
INDIANA ST FIN AUTH R 05.0000 06/01/2029	0.07%
NEWARK HGR EDU 05.0000 06/15/2033	0.07%
ST JOHNS CO INDL DEV- 04.0000 12/15/2031	0.07%
LAKE HOUSTON REDEV 05.0000 09/01/2029	0.07%
PLAZA AT NOAH'S ARK 03.0000 05/01/2024	0.07%
ST JOHNS CO INDL DEV- 04.0000 12/15/2030	0.07%
MI FIN AUTH -REF -REV 04.0000 02/01/2027	0.07%
VAUXMONT MET DIST CO 05.0000 12/01/2025	0.07%
FLORIDA ST DEV FIN 03.0000 07/01/2031	0.07%
PA ST ECON DEV-REF 04.0000 01/01/2031	0.06%
CALIFORNIA ST ENTERPR 05.0000 08/01/2028	0.06%
TEMPLE-A-REV 05.0000 08/01/2028	0.06%
LAKE HOUSTON REDEV 05.0000 09/01/2028	0.06%
LAKE HOUSTON REDEV 04.0000 09/01/2032	0.06%
LAKE HOUSTON REDEV 04.0000 09/01/2033	0.06%
MI FIN AUTH-C-6 05.0000 07/01/2033	0.05%
OHIO ST-REV-REF 05.0000 11/15/2024	0.05%
JEFFERSON CO-REV-REF 05.0000 09/15/2033	0.05%
TEMPLE-A-REV 05.0000 08/01/2026	0.05%
TEMPLE-A-REV 05.0000 08/01/2027	0.05%
LAKE HOUSTON REDEV 05.0000 09/01/2026	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2025	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2027	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2029	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2030	0.05%
PA ST ECON DEV-REF 04.0000 01/01/2030	0.04%
INDIANA ST FIN AUTH R 05.0000 06/01/2028	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2026	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2027	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2025	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2024	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2025	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2024	0.04%
MMD AAA P SP 0.0 05/24/22 MS	0.03%
MMD AAA P SP 0.0 05/26/22 MS	0.03%
MMD AAA R SP 0.0 05/24/22 MS	-0.03%
MMD AAA R SP 0.0 05/26/22 MS	-0.03%
MMD AAA R SP 0.0 04/27/22 CI	-0.11%
MMD AAA R SP 0.0 06/23/22 CI	-0.41%
US 10YR ULTRA FUT JUN22 UXYM2	-3.93%

WA HLTH CARE-C-VAR 01.2500 01/01/2042	2.89%
METRO PIER CABS-REF-A 00.0000 12/15/2022	1.96%
SCRANTON SD-NTS-REF 01.0070 04/01/2031	1.90%
MARYLAND ST-D-REF 04.0000 08/01/2029	1.67%
E-470 PUB HWY AUTH 00.3840 09/01/2039	1.44%
CHARLOTTE ETC HLTH-E 00.0300 01/15/2042	1.40%
NYC TRANSITIONAL -C-1 05.0000 02/01/2044	1.34%
SAN FRANCISCO CITY-A 05.0000 05/01/2031	1.32%
KY PUB ENERGY-C-1 04.0000 12/01/2049	1.21%
ST PAUL HSG & REDEV-A 05.5000 09/01/2036	1.20%
DETROIT MI DOWNTOWN D 05.0000 07/01/2043	1.16%
LOUISVILLE & JEFFERSO 05.0000 10/01/2030	1.13%
KY TPK AUTH -A -2022 05.0000 07/01/2032	1.11%
KY PUB ENERGY AUTH-B 04.0000 01/01/2049	1.06%
ALASKA ST INDL DEV-A 04.0000 10/01/2039	0.98%
CENTRL PLAINS ENERGY 05.0000 03/01/2050	0.95%
DE RIVER & BAY AUTH 05.0000 01/01/2032	0.88%
IL FIN AUTH-VAR-REF 00.6570 11/01/2034	0.87%
LA DEPT OF ARPTS-C 05.0000 05/15/2029	0.86%
ILLINOIS ST-D 05.0000 11/01/2028	0.86%
PALM BEACH HLTH-REF 05.0000 11/15/2032	0.82%
ARLINGTON TX HGR EDU 04.0000 02/15/2051	0.81%
NH HLTH &EDU FACS-REF 05.0000 10/01/2037	0.81%
LOVE FIELD TX ARPT MO 04.0000 11/01/2036	0.80%
MAIN ST GAS-B-VAR 00.9040 04/01/2048	0.79%
LAKELAND HOSP 05.0000 11/15/2045	0.78%
MICHIGAN ST FIN AUTH 05.0000 02/01/2047	0.78%
MI FIN AUTH-B-LOC GOV 05.0000 07/01/2039	0.75%
MET WA DC ARPTS-A 05.0000 10/01/2053	0.72%
SAINT JOHN THE BAPTIS 02.2000 06/01/2037	0.72%
MURRAY CITY HSP-VAR-A 00.0200 05/15/2037	0.72%
ID HLTH FACS AUTH-C 00.0500 03/01/2048	0.68%
PITTSBURGH WTR SWR-C 00.8500 09/01/2040	0.68%
FARMINGTON-REV-B-REF 02.1500 04/01/2033	0.68%
ILLINOIS ST 05.0000 11/01/2034	0.66%
CHICAGO IL-B 04.0000 01/01/2038	0.66%
HEMPSTEAD NY UNION-A 01.0000 06/30/2022	0.63%
CT ST HLTH & EDUCTNL 05.0000 07/01/2032	0.62%
SC PUB SVC AUTH-A-REF 05.0000 12/01/2036	0.62%
IOWA ST FIN AUTH-AMT 01.5000 01/01/2042	0.61%
ILLINOIS ST FIN AUTH 05.0000 03/01/2030	0.61%
PUBLIC FIN AUTH-A 05.0000 07/01/2054	0.61%
GA MUNI ELEC AUTH-A 05.5000 07/01/2060	0.60%
NJ HLTH VAR-C-VIRTUA 00.0100 07/01/2043	0.60%
TNDR OPT-RSDL-XF0805 P/P 09.5440 08/01/2037	0.60%
NJ TRANSPRTN TRUST-A 04.0000 06/15/2039	0.59%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2036	0.59%
ALLEGHENY CO ARPRT-A 04.0000 01/01/2041	0.59%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2038	0.59%
ORLANDO REDEV AGY-REF 05.0000 04/01/2023	0.59%
CUYAHOGA CO REV REF 05.0000 01/01/2038	0.58%
BURKE DEV AUTH-A 01.5000 01/01/2040	0.57%
HALIFAX HOSP MED-REF 05.0000 06/01/2036	0.56%
MET TRANS AUTH-A2A 00.6500 11/01/2026	0.56%
CA ST INFRA-C 00.5500 08/01/2047	0.54%
NJ HLTH-VAR-B-AHS HOS 00.1900 07/01/2036	0.54%
INDIANAPOLIS LOCAL-A 05.0000 02/01/2054	0.53%
AZ INDL DEV AUTH-A 05.0000 11/01/2036	0.52%
TARRANT CNTY TX CULTU 05.0000 11/15/2037	0.51%
DC-KIPP-SER A-REF 05.0000 07/01/2048	0.50%
ILLINOIS ST 05.0000 11/01/2029	0.50%
CT HLTH & EDU-F-REF 05.0000 07/01/2034	0.49%
ALLEGHENY CO ARPRT-A 04.0000 01/01/2040	0.49%
NEW HOPE EDU FACS-A 05.0000 04/01/2029	0.48%
AZ INDL DEV AUTH-A 05.0000 11/01/2038	0.46%
MICHIGAN ST FIN AUTH 05.2500 02/01/2032	0.46%
CA ST PUB WKS-A 05.0000 08/01/2032	0.45%
JEFFERSON CO-REV-REF 05.0000 09/15/2034	0.45%
SALT VERDE FNL CORP 05.5000 12/01/2029	0.44%
WA ST HSG FIN -A-1 03.5000 12/20/2035	0.43%
MET WASHINGTON ARPT 05.0000 10/01/2031	0.43%
DULUTH MN ECON DEV AU 05.0000 06/15/2032	0.43%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2029	0.42%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2030	0.42%
IOWA FIN AUTH -A-REF 04.0000 05/15/2046	0.42%
OHIO TPK & INFRA-A 05.0000 02/15/2029	0.42%
AZ INDL DEV AUTH-A 05.0000 11/01/2034	0.42%
FL MUNI PWR AGY-B-REF 05.0000 10/01/2028	0.42%
GREATER CHICAGO MET-A 05.0000 12/01/2031	0.42%
PUBLIC FIN AUTH-A 05.0000 07/01/2044	0.42%
CHICAGO IL BRD OF EDU 05.0000 12/01/2039	0.41%
ILLINOIS FIN AUTH-B-2 05.0000 05/15/2050	0.41%
SA ENERGY ACQ PUB FAC 05.5000 08/01/2025	0.40%
CA POLL FING AUTH 04.7500 11/01/2046	0.40%
KENTWOOD MI ECON DEV 05.0000 11/15/2037	0.40%
WASHINGTON ST HLTH CA 01.2180 01/01/2042	0.40%
DALLAS -REV -REF 04.0000 08/15/2035	0.39%
DALLAS -REV -REF 04.0000 08/15/2036	0.39%
DALLAS -REV -REF 04.0000 08/15/2037	0.39%
DALLAS -REV -REF 04.0000 08/15/2038	0.39%
DT OF COLUMBIA 04.0000 06/01/2030	0.39%
CA ST MUNI FIN-A-REF 04.0000 10/01/2032	0.39%
NATIONAL FIN AUTH-A 144A 03.7500 08/15/2030	0.39%
ORANGE CO HLTH FACS 05.0000 08/01/2034	0.39%
TOB SETTLEMT FING-B 05.0000 06/01/2050	0.39%
FLORIDA DEV FIN CORP 04.0000 02/01/2052	0.38%
CHICAGO IL-B 04.0000 01/01/2037	0.38%
ILLINOIS ST-D 05.0000 11/01/2027	0.38%
WI HLTH & EDUCTNL-REF 05.0000 08/15/2033	0.38%
GLENDALE INDL DEV-REF 04.0000 05/15/2029	0.38%
GLENDALE INDL DEV-REF 04.0000 05/15/2031	0.38%
CENTRAL PLAINS ENERGY 05.0000 09/01/2032	0.37%
CA INFRA & ECON-B-REF 00.9000 12/01/2050	0.36%
NEW HOPE CULT EDU-B1 05.0000 07/01/2038	0.36%
DULUTH MN ECON DEV AU 05.0000 06/15/2030	0.35%
SANTA FE RETMNT FAC 05.0000 05/15/2042	0.35%
CA HSG FIN AGY CTFS 03.5000 11/20/2035	0.35%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2029	0.35%
FORT BEND ISD -B REF 00.7200 08/01/2051	0.34%
LOS ANGELES INTL ARPT 04.0000 05/15/2037	0.34%
PACIFICA SD 04.0000 08/01/2045	0.34%
NEW JERSEY ST TRANSPR 05.0000 06/15/2036	0.33%
ILLINOIS ST 04.1250 11/01/2031	0.32%
NEW HOPE EDU FACS-A 05.0000 04/01/2035	0.32%
OAKLAND PORT-H-REF 05.0000 05/01/2028	0.32%
NEW JERSEY ST TRANSPR 05.0000 06/15/2028	0.31%
LOS ANGELES INTL ARPT 04.0000 05/15/2038	0.30%
ALBANY RES CORP-A-REF 05.0000 05/01/2023	0.30%
CHULA VISTA FING-REF 05.5000 09/01/2030	0.30%
CLIFTON HGR EDU FIN-T 04.0000 08/15/2036	0.30%
VA SMALL BUS FIN-A 05.0000 01/01/2028	0.30%
DALLAS -REV -REF 04.0000 08/15/2034	0.30%
CHICAGO WSTWTR TRANS 05.0000 01/01/2039	0.29%
MI FIN AUTH-C-3-REF 05.0000 04/01/2028	0.29%
NC MED CARE COMM-C 04.0000 03/01/2029	0.29%
DETROIT 05.5000 04/01/2034	0.29%
PA ST ECON DEV-REF 04.0000 01/01/2029	0.29%
MN HGR EDU FACS-A 05.0000 05/01/2046	0.28%
PA TURNPIKE-B1 05.0000 06/01/2042	0.28%
MI FIN AUTH -A-REF 02.3260 06/01/2030	0.28%
NEW YORK MTGE AGY-196 02.6000 04/01/2025	0.28%
CT HLTH & EDU-L-1 04.0000 07/01/2026	0.28%
CHESTER CO IDA-A 05.0000 08/01/2045	0.27%
SIERRA VIEW LOCAL DT 05.0000 07/01/2030	0.27%
MASSACHUSETTS ST HSG 03.1000 06/01/2030	0.27%
MS BUSINESS FIN-REF 02.5000 04/01/2022	0.27%
SEATTLE-MUNI LIGHT-B 00.4500 05/01/2045	0.27%
TEXAS ST-B-REF 02.2500 08/01/2033	0.27%
FRANKLIN CNTY OH HLTH 05.0000 11/15/2034	0.27%
ILLINOIS ST 04.0000 01/01/2031	0.27%
CHICAGO WTRWRKS-2ND 05.0000 11/01/2039	0.26%
SIERRA VIEW LOCAL DT 05.0000 07/01/2027	0.26%
ALBANY RES CORP-A-REF 05.0000 05/01/2025	0.26%
VA SMALL BUS FIN-A 05.0000 01/01/2029	0.25%
VLG FL CDD 13 SPL AS 01.8750 05/01/2025	0.25%
PORT OF GRTR CINCI 04.2500 12/01/2050	0.25%
LANCASTER INDL DEV AU 04.0000 07/01/2046	0.25%
LOS ANGELES INTL ARPT 04.0000 05/15/2035	0.24%
ILLINOIS ST 05.0000 11/01/2041	0.24%
MS BUSINESS FIN CORP- 02.3750 06/01/2044	0.24%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2026	0.24%
UTAH ST CHRT SCH FIN 05.0000 10/15/2030	0.24%
DULUTH ECON DEV AUTH 04.0000 07/01/2031	0.24%
MYRTLE BEACH SC TAX I 05.0000 10/01/2028	0.24%
UTAH INFRASTRUCTURE A 04.0000 10/15/2027	0.23%
ALBANY RES CORP-A-REF 05.0000 05/01/2024	0.22%
ALASKA ST INDL DEV-A 04.0000 10/01/2038	0.22%
PORT OF OAKLAND CA 01.0810 05/01/2024	0.22%
TNDR OPT-RSDL-XF0804 P/P 10.6040 08/01/2049	0.22%
TREASURY BILL 00.0000 03/17/2022	0.22%
CHICAGO WSTWTR 05.0000 01/01/2039	0.22%
PA ST ECON DEV-REF 04.0000 01/01/2032	0.22%
NEW YORK TRANSPRTN-A 05.0000 12/01/2029	0.21%
SC PUB SVC AUTH-B-REF 05.0000 12/01/2037	0.21%
MI FIN AUTH-H-1-REF 05.0000 10/01/2039	0.21%
NEW HAMPSHIRE ST HLTH 05.0000 07/01/2044	0.20%
SCIOTO CO HOSP FACS 05.0000 02/15/2033	0.20%
NEW HOPE CULT EDU-A 05.0000 04/01/2025	0.20%
TNDR OPT-RSDL-XF0845 P/P 18.9400 11/15/2044	0.20%
IL FIN AUTH-A 05.0000 02/15/2050	0.20%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2030	0.20%
LACKAWANNA CNTY PA IN 04.0000 11/01/2040	0.20%
KY PUB TRANSPTRN-A 06.0000 07/01/2053	0.19%
SILVER CREEK SCH BLDG 03.0000 01/15/2036	0.19%
WARREN HLTHCR-A-REF 05.7500 07/01/2033	0.19%
CHICAGO WSTWTR 05.0000 01/01/2044	0.19%
TEXAS ST-B-REF 02.5000 08/01/2034	0.19%
MA DEV FIN AGY-REF 04.0000 01/01/2026	0.19%
LA STADIUM & EXPO DT 04.0000 07/03/2023	0.18%
NC MED CARE COMM-C 05.0000 03/01/2027	0.18%
HARRIS CULTURAL EDU-A 05.0000 06/01/2038	0.18%
CUYAHOGA CO REV REF 05.0000 01/01/2036	0.18%
TEXAS ST-B-REF 02.2500 08/01/2032	0.18%
NC MED CARE COMM-C 05.0000 03/01/2026	0.17%
TNDR OPT-RSDL-XF0850 P/P 18.2120 12/01/2049	0.17%
ALBANY RES CORP-A-REF 05.0000 05/01/2026	0.16%
ILLINOIS ST FIN AUTH 05.0000 08/01/2031	0.16%
CAPITAL TRUST AGY FL 03.3000 01/01/2031	0.16%
UTAH INFRASTRUCTURE A 04.0000 10/15/2030	0.16%
AUSTIN-BERGSTROM LAND 05.0000 10/01/2033	0.16%
CHICAGO WSTWTR TRANS 05.0000 01/01/2033	0.16%
CHICAGO WSTWTR TRANS 05.0000 01/01/2034	0.16%
WESTMORELAND CNTY PA 05.0000 07/01/2027	0.16%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2028	0.16%
ARLINGTON HGR EDU-A 04.0000 12/01/2032	0.15%
NC MED CARE COMM-C 05.0000 03/01/2028	0.15%
NEW HOPE EDU FACS-A 05.0000 04/01/2047	0.15%
RI HLTH & EDUCTNL-REF 05.0000 05/15/2033	0.15%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2027	0.14%
SILVER CREEK SCH BLDG 03.0000 01/15/2034	0.14%
CLIFTON HGR EDU FIN 05.0000 08/15/2027	0.14%
NJ ECON DEV AUTH-AAA 05.0000 06/15/2036	0.14%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2026	0.14%
TNDR OPT-RSDL-XF0852 P/P 09.5180 10/01/2049	0.14%
FAIRFAX CNTY VA ECON 05.0000 10/01/2042	0.14%
YUCAIPA SPL TAX-REF 05.3750 09/01/2030	0.14%
TNDR OPT-RSDL-XF0919 P/P 09.4590 10/01/2053	0.14%
ILLINOIS ST 05.0000 01/01/2041	0.13%
DOUBLE BRANCH CDD-A1 04.2500 05/01/2034	0.13%
VA SMALL BUS FIN-A 05.0000 01/01/2027	0.13%
GA MUNI ELEC AUTH-A 04.0000 01/01/2046	0.13%
MMD AAA P SP 0.0 06/23/22 CI	0.13%
VAUXMONT MET DIST CO 05.0000 12/01/2034	0.12%
MET PIER & EXPOSITION 05.0000 12/15/2033	0.12%
SIERRA VIEW LOCAL DT 04.0000 07/01/2026	0.12%
WESTMORELAND CNTY PA 04.0000 07/01/2026	0.12%
WESTMORELAND CNTY PA 05.0000 07/01/2028	0.12%
GAITHERSBURG ECON-A 05.0000 01/01/2036	0.12%
OHIO ST-REV-REF 05.0000 11/15/2026	0.12%
DALLAS AREA MUNI AUTH 05.0000 05/01/2029	0.11%
SIERRA VIEW LOCAL DT 04.0000 07/01/2025	0.11%
MI FIN AUTH -REF -REV 04.0000 02/01/2032	0.11%
VAUXMONT MET DIST CO 05.0000 12/01/2032	0.11%
TEMPLE-A-REV 05.0000 08/01/2030	0.11%
TREASURY BILL 00.0000 04/26/2022	0.11%
MD ST HLTH & HGR EDU 04.0000 06/01/2034	0.10%
OHIO ST-REV-REF 05.0000 11/15/2027	0.10%
PLAZA AT NOAH'S ARK 03.0000 05/01/2026	0.10%
CT HLTH & EDU-F-REF 05.0000 07/01/2033	0.10%
SIERRA VIEW LOCAL DT 04.0000 07/01/2023	0.10%
INDIANA ST FIN AUTH R 04.0000 06/01/2034	0.09%
HI DEPT BUDGET-REF 05.2500 11/15/2037	0.09%
S E OVERTOWN PK 144A 05.0000 03/01/2030	0.09%
TEMPLE-A-REV 04.0000 08/01/2032	0.09%
CALIFORNIA COMM HSG 144A 04.0000 02/01/2056	0.09%
NY TRANSPRTN DEV CORP 02.2500 08/01/2026	0.09%
SIERRA VIEW LOCAL DT 04.0000 07/01/2024	0.09%
INDIANA ST FIN AUTH R 05.0000 06/01/2030	0.09%
INDIANA ST FIN AUTH R 05.0000 06/01/2031	0.09%
INDIANA ST FIN AUTH R 05.0000 06/01/2032	0.09%
LAKE HOUSTON REDEV 05.0000 09/01/2031	0.09%
OHIO ST HGR EDUCTNL F 05.0000 10/01/2025	0.09%
LAKE HOUSTON REDEV 05.0000 09/01/2030	0.09%
TEMPLE-A-REV 05.0000 08/01/2029	0.09%
KEIZER ASSMT-STA AREA 05.2000 06/01/2031	0.08%
INDIANA ST FIN AUTH R 04.0000 06/01/2033	0.08%
SIERRA VIEW LOCAL DT 04.0000 07/01/2022	0.08%
PLAZA AT NOAH'S ARK 03.0000 05/01/2025	0.08%
ST JOHNS CO INDL DEV- 04.0000 12/15/2029	0.08%
TEMPLE-A-REV 04.0000 08/01/2031	0.08%
TEMPLE-A-REV 04.0000 08/01/2033	0.08%
UTAH INFRASTRUCTURE A 04.0000 10/15/2028	0.08%
ST JOHNS CO INDL DEV- 04.0000 12/15/2031	0.08%
WESTMORELAND CNTY PA 04.0000 07/01/2024	0.08%
INDIANA ST FIN AUTH R 05.0000 06/01/2027	0.08%
INDIANA ST FIN AUTH R 05.0000 06/01/2029	0.08%
LAKE HOUSTON REDEV 05.0000 09/01/2029	0.07%
ST JOHNS CO INDL DEV- 04.0000 12/15/2030	0.07%
GUAM PWR AUTH-A-REF 05.0000 10/01/2030	0.07%
NEWARK HGR EDU 05.0000 06/15/2033	0.07%
PLAZA AT NOAH'S ARK 03.0000 05/01/2024	0.07%
FLORIDA ST DEV FIN 03.0000 07/01/2031	0.07%
MI FIN AUTH -REF -REV 04.0000 02/01/2027	0.07%
VAUXMONT MET DIST CO 05.0000 12/01/2025	0.07%
PA ST ECON DEV-REF 04.0000 01/01/2031	0.07%
CALIFORNIA ST ENTERPR 05.0000 08/01/2028	0.06%
TEMPLE-A-REV 05.0000 08/01/2028	0.06%
LAKE HOUSTON REDEV 05.0000 09/01/2028	0.06%
LAKE HOUSTON REDEV 04.0000 09/01/2032	0.06%
LAKE HOUSTON REDEV 04.0000 09/01/2033	0.06%
MI FIN AUTH-C-6 05.0000 07/01/2033	0.05%
OHIO ST-REV-REF 05.0000 11/15/2024	0.05%
JEFFERSON CO-REV-REF 05.0000 09/15/2033	0.05%
TEMPLE-A-REV 05.0000 08/01/2027	0.05%
TEMPLE-A-REV 05.0000 08/01/2026	0.05%
LAKE HOUSTON REDEV 05.0000 09/01/2026	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2025	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2027	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2029	0.05%
VAUXMONT MET DIST CO 05.0000 12/15/2030	0.05%
MMD AAA P SP 0.0 03/15/22 CI	0.05%
PA ST ECON DEV-REF 04.0000 01/01/2030	0.05%
INDIANA ST FIN AUTH R 05.0000 06/01/2028	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2027	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2026	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2025	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2025	0.04%
LAKE HOUSTON REDEV 05.0000 09/01/2024	0.04%
NEW JERSEY ST EDUCTNL 05.0000 07/01/2024	0.04%
MMD AAA R SP 0.0 05/24/22 MS	0.00%
MMD AAA R SP 0.0 05/26/22 MS	0.00%
MMD AAA P SP 0.0 05/24/22 MS	-0.00%
MMD AAA P SP 0.0 05/26/22 MS	-0.00%
MMD AAA R SP 0.0 04/27/22 CI	-0.01%
CPURNSA P 3.363 R 11/17/26	-0.02%
MMD AAA R SP 0.0 03/15/22 CI	-0.06%
MMD AAA R SP 0.0 06/23/22 CI	-0.23%
US 5YR NOTE (CBT) JUN22 FVM2	-1.79%
US 10YR ULTRA FUT JUN22 UXYM2	-3.56%

Portfolio composition as of 02/28/22

Municipal bonds and notes	96.53%
Cash and net other assets	3.47%

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. 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. The fund may invest significantly in particular segments of the tax-exempt debt market, making it more vulnerable to fluctuations in the values of the securities it holds than a fund that invests more broadly. 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.

Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. 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.

Expenses

Expense ratio	Class A	Class B	Class C	Class R6	Class Y
Total expense ratio	0.85%	1.45%	1.60%	0.59%	0.60%
What you pay	0.85%	1.45%	1.60%	0.59%	0.60%

Sales charge

Investment Breakpoint	Class A	Class B	Class C	Class R6	Class Y
$0-$49,999	4.00%	0.00%	0.00%	--	--
$50,000-$99,999	4.00%	0.00%	0.00%	--	--
$100,000-$249,999	3.25%	--	0.00%	--	--
$250,000-$499,999	2.50%	--	0.00%	--	--
$500,000-$999,999	0.00%	--	--	--	--
$1M-$4M	0.00%	--	--	--	--
$4M-$50M	0.00%	--	--	--	--
$50M+	0.00%	--	--	--	--

CDSC

	Class A (sales for $500,000+)	Class B	Class C	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%	--	--

The Bloomberg 3-15 Year Blend Municipal Bond Index is an unmanaged index comprised of investment-grade municipal securities ranging from 2 and 17 years in maturity. The Bloomberg Municipal Bond Index is an unmanaged index of long-term fixed-rate investment-grade tax-exempt bonds. You cannot invest directly in an index.

Strategic Intermediate Municipal Fund (Class Y) (PAMYX)

Highlights

Objective

Strategy and process

Fund price and assets

Fund facts as of 02/28/22

Management team

Literature

Fund documents

Related topics

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Performance

Consistency of positive performance over five years

128 positive 5-year periods

0 negative 5-year periods

Total return (%) as of 06/30/22

Annual performance as of 06/30/22

Annualized Total return (%) as of 06/30/22

Cumulative Total return (%) as of 06/30/22

Annual performance as of 06/30/22

Performance snapshot

Yield

Lipper rankings as of 02/28/22

Morningstar Ratings™ as of 05/31/22

Distributions

Tax-Equivalent Yield Calculator

When considering investing in municipal bonds, you should evaluate yields on a tax-equivalent basis, taking into account your tax liability on the interest earned from each.

There are other types of bond funds to consider...

Yield

Taxes

Equivalent

Holdings

Top 10 holdings as of 02/28/22

Portfolio composition as of 02/28/22

Expenses

Expense ratio

Sales charge

CDSC

Financial advisors: Compare this fund to one in your model

128
positive 5-year periods

0
negative 5-year periods

Morningstar Ratings^™ as of 05/31/22