North Carolina Tax-Free Fund – ENCMX

Class A


CUSIP 94985D731


Share Price 04-27-16 10.52


Daily Change 0.01


YTD Return 1.65%


30-Day SEC Yield as of 04-26-16 1.00%


Morningstar Category Muni Single State Long


Inception Date 01-11-1993


Fund Number 0680


Net Fund Assets as of 03-31-2016 $100,544,913.05


Overall Morningstar Rating™ (out of 268 funds)
as of 03-31-2016
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Morningstar RatingMorningstar Rating


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MORNINGSTAR RATINGS™ as of 03-31-2016


Category = Muni Single State Long


3-year Morningstar Rating™ (out of 268 funds)   Morningstar RatingMorningstar RatingMorningstar Rating


5-year Morningstar Rating™ (out of 263 funds)   Morningstar RatingMorningstar Rating


10-year Morningstar Rating™ (out of 216 funds)   Morningstar RatingMorningstar Rating


Overall Morningstar Rating™ (out of 268 funds)   Morningstar RatingMorningstar Rating


The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings, based on risk-adjusted returns. Click here for more information.

Morningstar® Style Box™as of 03-31-2016
Morningstar Style Box
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LIPPER INC. TOTAL RETURN RANKINGS – as of 02-29-2016
Lipper Other States Municipal Debt Funds


1-year   138 out of 266


3-year   45 out of 237


5-year   69 out of 234


10-year   104 out of 192


Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURNS – as of 03-31-2016


    1-year 3-year 5-year 10-year Since Inception


North Carolina Tax-Free Fund   NAV   2.78%   3.32%   5.33%   3.90%   4.51%


POP   -1.88%   1.75%   4.36%   3.43%   4.30%


Barclays Municipal Bond Index       3.98%   3.63%   5.59%   4.86%   --


Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Click here for current month-end performance.
Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Had sales charges been included, performance would be lower.
For Class A shares, the maximum front-end sales charge is 4.50%. Performance including sales charge assumes the sales charge for the corresponding time period.

EXPENSES


Net Expense Ratio – effective since 11-01-15   0.85%


Gross Expense Ratio   0.94%


The advisor has committed, through 10-31-16, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 0.85%. After this time, the cap may be increased or terminated only with the approval of the Board of Trustees. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS


2015     2.91%
2014     8.66%
2013   -2.19%
2012     7.16%
2011     9.54%
2010     1.91%
2009     12.56%
2008   -6.23%
2007     0.90%
2006     4.14%

View the 30-day unsubsidized SEC yields.

  • Not FDIC Insured
  • No Bank Guarantee
  • May Lose Value