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SMBAX Saratoga Municipal Bond A

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Fund SMBAX Saratoga Municipal Bond A VWLTX Vanguard Long-Term Tax-Exempt TFI SPDR® Nuveen Blmbg Barclays Muni Bd ETF  
Similarity
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100% 88% 85%
Annual Fees
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$234.79
(2.30% Exp. Ratio)
$20.42
(0.20% Exp. Ratio)
$23.48
(0.23% Exp. Ratio)
Future Est. Balance in 30 yrs
Assuming 2.08% annual return
$9,229.36 $17,468.31 $17,311.47
Est. savings over 30 yrs +$8,238.95 +$8,082.11
Return
As of 11/30/16
1 YR RETURN -2.59%
3 YR -0.31%
5 YR -0.03%
10 YR 0.54%
1 YR RETURN 0.24%
3 YR 4.60%
5 YR 4.16%
10 YR 4.12%
1 YR RETURN -0.47%
3 YR 3.53%
5 YR 3.16%
10 YR --
Description
The investment seeks a high level of interest income that is excluded from federal income taxation to the extent consistent with prudent investment management and the preservation of capital. As a matter of fundamental policy, the Portfolio will normally invest at least 80% of its total assets in securities that pay interest exempt from federal income taxes. The Portfolio's Adviser generally invests the Portfolio's assets in municipal obligations. Municipal obligations are bonds, notes or short-term commercial paper issued by state governments, local governments, and their respective agencies.
The investment seeks a high and sustainable level of current income that is exempt from federal personal income taxes. The fund has no limitations on the maturity of individual securities but is expected to maintain a dollar-weighted average maturity of 10 to 25 years. At least 75% of the securities held by the fund are municipal bonds in the top three credit-rating categories as determined by a nationally recognized statistical rating organization (NRSRO) (e.g., Aaa, Aa, and A by Moody's Investors Service, Inc. (Moody's)) or, if unrated, determined to be of comparable quality by the advisor.
The investment seeks investment results that correspond generally to the price and yield performance of the Bloomberg Barclays Municipal Managed Money Index. The fund invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in securities that the Sub-Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to track the U.S. long term tax-exempt bond market, including state and local general obligation bonds, revenue bonds, pre-refunded bonds, and insured bonds. It is non-diversified.

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The fees, balance and savings information above are estimated numbers, based on the data FeeX had at the day of publication, but may not be accurate due to incomplete or erroneous data.

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Similarity

FeeX's similarity algorithm analyzes over 15 investment characteristics like investment category, asset allocation, strategy, geographical allocation and more. FeeX gives each its own weight and calculates the similarity of any two investments based on a scale of 0 to 100%. Funds with a similarity ranking of 85% and higher are considered "similar".

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