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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 PZA PowerShares National AMT-Free MuniBd ETF  
Similarity
?
100% 87% 87%
Annual Fees
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$234.78
(2.30% Exp. Ratio)
$20.42
(0.20% Exp. Ratio)
$28.58
(0.28% Exp. Ratio)
Future Est. Balance in 30 yrs
Assuming 2.08% annual return
$9,218.79 $17,448.30 $17,033.54
Est. savings over 30 yrs +$8,229.51 +$7,814.76
Return
As of 12/31/16
1 YR RETURN -1.96%
3 YR 0.08%
5 YR -0.16%
10 YR 0.68%
1 YR RETURN 0.63%
3 YR 5.13%
5 YR 4.03%
10 YR 4.30%
1 YR RETURN 1.26%
3 YR 6.34%
5 YR 4.33%
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 generally correspond (before fees and expenses) to the price and yield of the BofA Merrill Lynch National Long-Term Core Plus Municipal Securities Index. The fund generally will invest at least 80% of its total assets in municipal securities that comprise the underlying index and that also are exempt from the federal alternative minimum tax ("AMT"). The underlying index is composed of U.S. dollar-denominated, investment grade, tax-exempt debt publicly issued by U.S. states and territories or their political subdivisions, in the U.S. domestic market with a term of at least 15 years remaining to final maturity.

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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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