Tax-free bond funds.
Kiplinger's Mutual Funds, March, 2006
FOR A DESCRIPTION of each column heading, see page 72. Some other information about the tax-free bond fund rankings:
CATEGORY. ST Muni (short-term municipal) funds have average portfolio maturities of less than three years. Int Muni (intermediate-term municipal) funds have average maturities of three to ten years. LT Muni (long-term municipal) funds have average maturities of more than ten years. HY Muni (high-yield municipal) funds specialize in higher-yielding bonds that may be lower-rated or unrated. To be included, a fund must have at least $58 million in assets.
12-MONTH YIELD. To figure your taxable-equivalent yield, divide the number in this column by 1 minus your income-tax bracket.
BENCHMARKS. Lehman Brothers Municipal Index...
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