USATX | TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES

Basic Info 12.53 0(0.0%)

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES started on 04/22/1982

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES is classified as asset class Muni National Interm

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES expense ratio is 0.44%

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES rating is

(72%)

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) Dividend Info

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) dividend growth in the last 12 months is 4.54%

The trailing 12-month yield of TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES is 3.01%. its dividend history:

Date	Dividend
04/30/2024	0.0337
03/28/2024	0.0347
02/29/2024	0.0325
01/31/2024	0.0349
12/29/2023	0.0349
11/30/2023	0.0338
10/31/2023	0.0351
09/29/2023	0.0338
08/31/2023	0.0353
07/31/2023	0.0342
06/30/2023	0.0332
05/31/2023	0.034
04/28/2023	0.0341
03/31/2023	0.0351
02/28/2023	0.0316
01/31/2023	0.0339
12/30/2022	0.0339
11/30/2022	0.0322
10/31/2022	0.0334
09/30/2022	0.0322
08/31/2022	0.0314
07/29/2022	0.032
06/30/2022	0.0314
05/31/2022	0.0311
04/29/2022	0.0291
03/31/2022	0.0292
02/28/2022	0.0261
01/31/2022	0.0283
12/31/2021	0.0274
11/30/2021	0.0272
10/29/2021	0.0274
09/30/2021	0.0262
08/31/2021	0.0267
07/30/2021	0.0273
06/30/2021	0.0271
05/28/2021	0.0288
04/30/2021	0.0281
03/31/2021	0.0286
02/26/2021	0.0269
01/29/2021	0.0302
12/31/2020	0.0298
11/30/2020	0.0308
10/30/2020	0.0304
09/30/2020	0.0304
08/31/2020	0.031
07/31/2020	0.0324
06/30/2020	0.0313
05/29/2020	0.0329
04/30/2020	0.0317
03/31/2020	0.034
02/28/2020	0.029
01/31/2020	0.0316
12/31/2019	0.0327
11/29/2019	0.0309
10/31/2019	0.0321
09/30/2019	0.0314
08/30/2019	0.0327
07/31/2019	0.0324
06/28/2019	0.0311
05/31/2019	0.0345
04/30/2019	0.0334
03/29/2019	0.0336
02/28/2019	0.0348
01/31/2019	0.0325
12/31/2018	0.033
11/30/2018	0.0364
10/31/2018	0.0336
09/28/2018	0.0303
08/31/2018	0.0365
07/31/2018	0.0315
06/29/2018	0.0329
05/31/2018	0.0318
04/30/2018	0.033
03/29/2018	0.034
02/28/2018	0.034
01/31/2018	0.032
12/29/2017	0.035
11/30/2017	0.034
10/31/2017	0.033
09/29/2017	0.036
08/31/2017	0.0348
07/31/2017	0.0318
06/30/2017	0.0373
05/31/2017	0.0349
04/28/2017	0.0333
03/31/2017	0.04
02/28/2017	0.037
01/31/2017	0.033
12/30/2016	0.037
11/30/2016	0.034
10/31/2016	0.032
09/30/2016	0.036
08/31/2016	0.034
07/29/2016	0.034
06/30/2016	0.035
05/31/2016	0.034
04/27/2016	0.037
03/31/2016	0.036
02/29/2016	0.04
01/29/2016	0.033
12/31/2015	0.04
11/30/2015	0.035
10/30/2015	0.038
09/30/2015	0.037
08/31/2015	0.035
07/31/2015	0.039
06/30/2015	0.037
05/29/2015	0.037
04/30/2015	0.037
03/31/2015	0.035
02/27/2015	0.046
01/30/2015	0.047
12/31/2014	0.038
11/28/2014	0.035
10/31/2014	0.04
09/30/2014	0.037
08/29/2014	0.038
07/31/2014	0.038
06/30/2014	0.038
05/30/2014	0.038
04/30/2014	0.039
03/31/2014	0.041
02/28/2014	0.042
01/31/2014	0.042
12/31/2013	0.042
11/29/2013	0.042
10/31/2013	0.042
09/30/2013	0.042
08/30/2013	0.042
07/31/2013	0.041
06/28/2013	0.04
05/31/2013	0.04
04/30/2013	0.04
03/28/2013	0.039
02/28/2013	0.04
01/31/2013	0.039
12/31/2012	0.041
11/30/2012	0.043
10/31/2012	0.041
09/28/2012	0.042
08/31/2012	0.042
07/31/2012	0.042
06/29/2012	0.042
05/31/2012	0.043
04/30/2012	0.043
03/30/2012	0.042
02/29/2012	0.043
01/31/2012	0.043
12/30/2011	0.045
12/08/2011	0.002
11/30/2011	0.045
10/31/2011	0.046
09/30/2011	0.045
08/31/2011	0.046
07/29/2011	0.046
06/30/2011	0.046
05/31/2011	0.047
04/29/2011	0.047
03/31/2011	0.046
02/28/2011	0.047
01/31/2011	0.047
12/31/2010	0.047
12/09/2010	0.007
11/30/2010	0.047
10/29/2010	0.046
09/30/2010	0.046
08/31/2010	0.046
07/30/2010	0.047
06/30/2010	0.047
05/28/2010	0.047
03/31/2010	0.047
02/26/2010	0.047
01/29/2010	0.048
12/31/2009	0.048
12/10/2009	0.007
11/30/2009	0.045
10/30/2009	0.049
09/30/2009	0.048
08/31/2009	0.048
07/31/2009	0.049
06/30/2009	0.048
05/29/2009	0.049
04/30/2009	0.049
03/31/2009	0.048
02/27/2009	0.05
01/30/2009	0.05
12/31/2008	0.052
12/11/2008	0.015
11/28/2008	0.046
10/31/2008	0.052
09/30/2008	0.046
08/29/2008	0.049
07/31/2008	0.048
06/30/2008	0.046
05/30/2008	0.05
04/30/2008	0.048
03/31/2008	0.047
02/29/2008	0.052
01/31/2008	0.046
12/13/2007	0.026
11/30/2007	0.05
10/31/2007	0.047
09/28/2007	0.042
08/31/2007	0.051
07/31/2007	0.044
06/29/2007	0.047
05/31/2007	0.046
04/30/2007	0.044
03/30/2007	0.047
02/28/2007	0.046
01/31/2007	0.043
12/29/2006	0.049
12/13/2006	0.004
11/30/2006	0.046
10/31/2006	0.045
09/29/2006	0.048
08/31/2006	0.046
07/31/2006	0.043
06/30/2006	0.049
05/31/2006	0.046
04/28/2006	0.043
03/31/2006	0.049
02/28/2006	0.046
01/31/2006	0.043
12/30/2005	0.049
12/15/2005	0.022
11/30/2005	0.046
10/31/2005	0.043
09/30/2005	0.049
08/31/2005	0.046
07/29/2005	0.046
06/30/2005	0.046
05/31/2005	0.045
04/29/2005	0.048
03/31/2005	0.046
02/28/2005	0.047
01/31/2005	0.044
12/31/2004	0.05
12/15/2004	0.021
11/30/2004	0.047
10/29/2004	0.047
09/30/2004	0.047
08/31/2004	0.046
07/30/2004	0.049
06/30/2004	0.048
05/28/2004	0.045
04/30/2004	0.052
03/31/2004	0.048
02/27/2004	0.047
01/30/2004	0.05
12/31/2003	0.052
11/28/2003	0.05
10/31/2003	0.054
09/30/2003	0.049
08/29/2003	0.056
07/31/2003	0.052
06/30/2003	0.05
05/30/2003	0.054
04/30/2003	0.052
03/31/2003	0.049
02/28/2003	0.026
01/31/2003	0.028
12/31/2002	0.053
10/31/2002	0.054
09/30/2002	0.057
08/30/2002	0.057
07/31/2002	0.054
06/28/2002	0.051
05/31/2002	0.041
04/30/2002	0.038
03/28/2002	0.054
02/28/2002	0.054
01/31/2002	0.053
12/31/2001	0.053
11/30/2001	0.058
10/29/2001	0.058
09/28/2001	0.051
08/31/2001	0.055
07/31/2001	0.058
06/29/2001	0.055
05/31/2001	0.057
04/30/2001	0.059
03/30/2001	0.055
02/28/2001	0.057
01/31/2001	0.061
12/29/2000	0.054
11/30/2000	0.058
10/31/2000	0.06
09/29/2000	0.056
08/31/2000	0.058
07/31/2000	0.058
06/30/2000	0.057
05/31/2000	0.062
04/28/2000	0.054
03/31/2000	0.057
02/29/2000	0.057
01/31/2000	0.058
12/31/1999	0.058
11/30/1999	0.061
10/29/1999	0.05
09/30/1999	0.057
08/31/1999	0.059
07/30/1999	0.056
06/30/1999	0.063
05/28/1999	0.052
04/30/1999	0.058
03/31/1999	0.062
02/26/1999	0.057
01/29/1999	0.054
12/31/1998	0.057
11/30/1998	0.06
10/30/1998	0.056
09/30/1998	0.058
08/31/1998	0.059
07/31/1998	0.059
06/30/1998	0.063
05/29/1998	0.055
04/30/1998	0.059
03/31/1998	0.062
02/27/1998	0.058
01/30/1998	0.058
12/31/1997	0.063
11/28/1997	0.055
10/31/1997	0.059
09/30/1997	0.063
08/29/1997	0.056
07/31/1997	0.06
06/30/1997	0.062
05/30/1997	0.058
04/30/1997	0.06
03/31/1997	0.06
02/28/1997	0.06
01/31/1997	0.061
12/31/1996	0.062
11/29/1996	0.058
10/31/1996	0.06
09/30/1996	0.061
08/30/1996	0.06
07/31/1996	0.064
06/28/1996	0.056
05/31/1996	0.06
04/30/1996	0.064
03/29/1996	0.056
02/29/1996	0.06
01/31/1996	0.064
12/29/1995	0.056
11/30/1995	0.06
10/31/1995	0.062
09/29/1995	0.058
08/31/1995	0.06
07/31/1995	0.06
06/30/1995	0.059
05/31/1995	0.063
04/28/1995	0.055
03/31/1995	0.059
02/28/1995	0.059
01/31/1995	0.061
12/30/1994	0.057
11/30/1994	0.058
10/31/1994	0.058
09/30/1994	0.058
08/31/1994	0.061
07/29/1994	0.054
06/30/1994	0.057
05/31/1994	0.059
05/04/1994	0.026
04/29/1994	0.055
03/31/1994	0.057
02/28/1994	0.057
01/31/1994	0.057
12/31/1993	0.057
11/30/1993	0.061
11/04/1993	0.026
10/29/1993	0.054
09/30/1993	0.058
08/31/1993	0.06
07/30/1993	0.056
06/30/1993	0.063
05/28/1993	0.053
05/06/1993	0.108
04/30/1993	0.059
03/31/1993	0.065
02/26/1993	0.058
01/29/1993	0.056
12/31/1992	0.061
11/30/1992	0.064
10/30/1992	0.06
09/30/1992	0.062
08/31/1992	0.063
07/31/1992	0.062
06/30/1992	0.067
05/29/1992	0.06
04/30/1992	0.065
03/31/1992	0.065
02/28/1992	0.06
01/31/1992	0.064
12/31/1991	0.068
11/29/1991	0.065
10/31/1991	0.066
09/30/1991	0.069
08/30/1991	0.064
07/31/1991	0.071
06/28/1991	0.064
05/31/1991	0.067
04/30/1991	0.068
03/28/1991	0.068
02/28/1991	0.067
01/31/1991	0.068
12/31/1990	0.068
11/30/1990	0.068
10/31/1990	0.073
09/28/1990	0.065
08/31/1990	0.069
07/31/1990	0.071
06/29/1990	0.067
05/31/1990	0.069
04/30/1990	0.069
03/30/1990	0.069
02/28/1990	0.068
01/31/1990	0.069
12/29/1989	0.069
11/30/1989	0.069
10/31/1989	0.071
09/29/1989	0.067
08/31/1989	0.07
07/31/1989	0.069
06/30/1989	0.069
05/31/1989	0.074
04/28/1989	0.064
03/31/1989	0.07
02/28/1989	0.07
01/31/1989	0.07
12/30/1988	0.07
11/30/1988	0.069
10/31/1988	0.069
09/30/1988	0.07
08/31/1988	0.074
07/29/1988	0.066
06/30/1988	0.069
05/27/1988	0.07
04/28/1988	0.07
03/28/1988	0.069
02/26/1988	0.07
01/29/1988	0.07
12/31/1987	0.051
11/30/1987	0.08
10/30/1987	0.082
09/30/1987	0.209
06/30/1987	0.069
05/29/1987	0.069
04/28/1987	0.069
03/27/1987	0.069
02/27/1987	0.069
01/30/1987	0.069
12/30/1986	0.071
11/28/1986	0.071
10/30/1986	0.071
09/30/1986	0.075
08/29/1986	0.075
07/30/1986	0.075
06/30/1986	0.078
05/30/1986	0.078
04/30/1986	0.078
03/27/1986	0.08
02/28/1986	0.08
01/30/1986	0.08
12/30/1985	0.082
11/29/1985	0.082
10/30/1985	0.082
09/30/1985	0.085
08/30/1985	0.085
07/30/1985	0.085
06/28/1985	0.079
05/30/1985	0.079
04/30/1985	0.079
03/29/1985	0.084
02/28/1985	0.084
01/30/1985	0.084
12/28/1984	0.086
11/30/1984	0.086
10/30/1984	0.086
09/28/1984	0.082
08/30/1984	0.082
07/30/1984	0.082
06/29/1984	0.08
05/30/1984	0.08
04/30/1984	0.08
03/30/1984	0.082
02/28/1984	0.082
01/30/1984	0.082
12/30/1983	0.082
11/30/1983	0.082
10/28/1983	0.082
09/30/1983	0.082
08/30/1983	0.082
07/29/1983	0.082
06/30/1983	0.079
05/27/1983	0.079
04/29/1983	0.079
03/30/1983	0.084
02/28/1983	0.084
01/28/1983	0.084
12/30/1982	0.082
11/30/1982	0.082
10/29/1982	0.085
09/30/1982	0.085
08/30/1982	0.085
07/30/1982	0.225
04/23/1982	0.214

Dividend Growth History for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX)

Year	Payout Amount	Year Start Yield	Annual Payout Growth (YoY)	CAGR to 2023
2023	$0.409	3.31%	10.45%	-
2022	$0.3703	2.67%	11.57%	10.45%
2021	$0.3319	2.39%	-11.56%	11.01%
2020	$0.3753	2.75%	-4.28%	2.91%
2019	$0.3921	2.99%	-1.73%	1.06%
2018	$0.399	2.99%	-5.02%	0.50%
2017	$0.4201	3.22%	-0.45%	-0.45%
2016	$0.422	3.12%	-8.86%	-0.45%
2015	$0.463	3.40%	-0.64%	-1.54%
2014	$0.466	3.55%	-4.70%	-1.44%
2013	$0.489	3.56%	-3.55%	-1.77%
2012	$0.507	3.81%	-8.65%	-1.93%
2011	$0.555	4.40%	6.32%	-2.51%
2010	$0.522	4.07%	-11.22%	-1.86%
2009	$0.588	5.17%	-1.51%	-2.56%
2008	$0.597	4.63%	12.01%	-2.49%
2007	$0.533	4.03%	-4.31%	-1.64%
2006	$0.557	4.23%	-3.47%	-1.80%
2005	$0.577	4.32%	-3.35%	-1.89%
2004	$0.597	4.47%	4.37%	-1.97%
2003	$0.572	4.30%	1.06%	-1.66%
2002	$0.566	4.35%	-16.40%	-1.54%
2001	$0.677	5.21%	-1.74%	-2.26%
2000	$0.689	5.54%	0.29%	-2.24%
1999	$0.687	5.10%	-2.41%	-2.14%
1998	$0.704	5.26%	-1.81%	-2.15%
1997	$0.717	5.56%	-1.10%	-2.14%
1996	$0.725	5.55%	1.83%	-2.10%
1995	$0.712	5.93%	-0.28%	-1.96%
1994	$0.714	5.40%	-14.39%	-1.90%
1993	$0.834	6.57%	10.76%	-2.35%
1992	$0.753	6.07%	-6.46%	-1.95%
1991	$0.805	6.74%	-2.42%	-2.09%
1990	$0.825	6.89%	-0.84%	-2.10%
1989	$0.832	7.09%	-0.48%	-2.07%
1988	$0.836	7.19%	0.00%	-2.02%
1987	$0.836	6.77%	-8.33%	-1.97%
1986	$0.912	7.74%	-7.88%	-2.14%
1985	$0.99	8.98%	0.00%	-2.30%
1984	$0.99	8.95%	0.92%	-2.24%
1983	$0.981	8.92%	14.34%	-2.16%
1982	$0.858	8.37%	-	-1.79%

Dividend Growth Chart for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX)

TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) Historical Returns And Risk Info

From 05/15/1986 to 05/16/2024, the compound annualized total return (dividend reinvested) of TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 4.896%. Its cumulative total return (dividend reinvested) is 515.103%.

From 05/15/1986 to 05/16/2024, the Maximum Drawdown of TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 12.5%.

From 05/15/1986 to 05/16/2024, the Sharpe Ratio of TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 0.83.

From 05/15/1986 to 05/16/2024, the Annualized Standard Deviation of TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 3.9%.

From 05/15/1986 to 05/16/2024, the Beta of TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 0.65.

	Last 1 Week*	YTD*(2024)	1 Yr	3 Yr	5 Yr	10 Yr	15 Yr	20 Yr	Since 05/15/1986	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983	1982
Annualized Return(%)	0.3	0.0	3.2	-0.7	1.4	2.3	3.5	3.5	4.9	5.5	-8.1	2.2	4.7	7.0	1.2	5.8	-0.5	2.8	7.4	-1.0	7.2	10.2	2.5	18.2	-7.3	1.6	4.6	3.1	4.3	4.8	7.0	5.5	9.8	-2.6	6.3	9.4	4.5	15.1	-4.0	11.5	8.5	11.1	6.7	9.2	8.7	0.9	13.2	16.4	8.8	9.6	16.3
Sharpe Ratio	NA	-1.73	-0.21	-1.0	-0.05	0.39	NA	NA	0.83	0.39	-2.62	1.41	0.64	3.21	-0.05	2.45	-0.27	1.59	4.64	-0.37	3.63	4.15	0.89	5.3	-1.4	-0.55	0.58	0.4	1.03	1.34	2.3	1.38	2.47	-2.38	1.11	2.12	0.24	3.04	-1.48	3.0	2.26	3.0	0.47	1.3	1.33	-0.65	1.6	1.76	0.32	0.47	1.4
Draw Down(%)	NA	1.1	4.3	12.5	12.5	12.5	NA	NA	12.5	4.6	12.1	1.8	10.8	1.4	1.8	1.3	6.2	1.7	1.0	5.4	1.5	2.2	4.7	2.1	11.9	2.9	1.4	2.3	4.5	4.2	2.7	2.6	2.4	4.6	1.6	1.6	3.8	1.9	8.1	2.7	2.2	1.0	2.4	1.7	1.9	9.0	2.4	2.5	4.7	2.7	2.9
Standard Deviation(%)	NA	2.1	3.0	3.0	4.0	3.1	NA	NA	3.9	3.3	3.6	1.5	6.9	1.7	1.6	2.1	2.6	1.7	1.6	2.9	2.0	2.4	2.7	3.4	5.9	2.6	2.2	2.3	3.2	3.0	2.6	2.4	2.3	2.5	2.7	2.8	4.1	3.7	4.7	3.1	2.7	2.5	3.1	2.7	3.0	4.8	5.6	6.4	6.5	7.5	12.4
Treynor Ratio	NA	-0.05	-0.01	-0.03	0.0	0.01	NA	NA	0.05	0.01	-0.1	0.02	0.05	0.06	0.0	0.06	-0.01	0.03	0.09	-0.01	0.08	0.11	0.02	0.18	-0.07	-0.01	0.01	0.01	0.04	0.04	0.07	0.04	0.06	-0.06	0.03	0.06	0.01	0.11	-0.07	0.1	0.07	0.1	0.02	0.05	0.07	-0.04	0.19	0.2	0.1	0.06	2.39
Alpha	NA	0.0	0.0	0.0	0.0	0.0	NA	NA	0.0	0.0	-0.01	0.0	0.0	0.0	0.0	0.01	0.0	0.0	0.01	0.0	0.01	0.0	0.0	0.03	-0.03	-0.01	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-0.01	0.0	0.01	0.0	0.0	-0.01	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.01	0.02	0.01	0.01	0.06
Beta	NA	0.7	0.89	0.92	0.95	0.95	NA	NA	0.65	0.94	0.93	0.95	0.98	0.94	0.89	0.93	0.99	0.85	0.8	0.95	0.88	0.96	0.98	1.01	1.11	1.08	0.99	0.95	0.89	0.96	0.81	0.83	0.99	0.98	0.99	1.0	1.06	1.03	1.03	0.89	0.86	0.75	0.84	0.71	0.61	0.7	0.46	0.56	0.2	0.58	0.07
RSquare	NA	0.71	0.85	0.85	0.91	0.9	NA	NA	0.39	0.88	0.87	0.77	0.95	0.81	0.84	0.86	0.9	0.84	0.82	0.94	0.83	0.88	0.91	0.88	0.93	0.87	0.92	0.9	0.94	0.89	0.86	0.79	0.87	0.85	0.8	0.78	0.87	0.85	0.84	0.7	0.79	0.73	0.78	0.66	0.44	0.71	0.1	0.12	0.06	0.25	0.01
Yield(%)	N/A	1.0	3.3	2.7	2.8	3.0	3.6	3.7	N/A	3.2	2.6	2.6	2.6	2.7	2.8	3.1	3.1	3.7	3.7	3.5	3.6	4.5	4.4	5.3	4.8	4.1	4.3	4.4	4.6	4.3	4.2	5.4	5.6	5.1	5.4	5.6	5.5	6.0	5.6	6.6	5.9	6.8	6.9	7.1	7.2	6.8	7.9	8.7	9.0	8.7	8.1
Dividend Growth(%)	N/A	-69.2	4.5	-1.2	-12.2	-26.8	-30.5	N/A	N/A	8.3	0.0	0.0	0.0	-5.3	-7.3	-2.4	-16.0	4.2	0.0	0.0	-15.8	1.8	-6.7	-3.2	14.8	-3.6	-5.1	-3.3	7.0	3.6	-21.4	0.0	1.4	-4.2	0.0	0.0	0.0	-2.7	-11.9	15.1	-9.9	-2.4	0.0	-1.2	0.0	-9.7	-3.1	-3.0	3.1	15.7	N/A

Return Calculator for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX)

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TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) Historical Return Chart

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TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) Rolling Returns Charts

A rolling return for a period such as 5-year, as of a specific date, represents the investment’s performance over the preceding five years leading up to that date. In the 5-year rolling chart, the value on any given date corresponds to the annualized return for the preceding 5 years up to that very date. Thus, for instance, the chart value on 8/28/2015 reflects the annualized return from 8/28/2010 to 8/28/2015. A 5-year rolling return chart for an investment (stock, fund or portfolio) depicts the return sequence of 5-year trailing returns for the dates in the chart.

These rolling returns contrast with the most recent 3, 5, 10, and 15-year returns, as they solely depict the returns for those respective periods leading up to the most recent date, without encompassing every date in the historical record.

Rolling return charts offer a more precise insight into a portfolio’s risk and return stability (including funds or individual stocks). This is particularly true when focusing on the minimal return points within a rolling return chart as a measure of a fund or a portfolio's risk. A well-known observation, often attributed to ‘Murphy’s law’, is that it tends to perform poorly when investors decide to follow an investment due to its recent strong returns. Sound familiar? Information regarding minimum rolling returns could help mitigate this predicament. Investors can opt for an investment showcasing high minimum rolling returns within their preferred holding durations. In fact, merely possessing knowledge of such minimum rolling period returns can anchor investors’ expectations.

For instance, let’s consider an investor who follows a model portfolio (or even simply purchases and holds a fund like VFINX or SPY) for 10 years. Armed with knowledge of this portfolio’s minimum 10-year rolling return since its inception date or the fund’s inception (in the case of VFINX, recognizing that the minimum 10-year rolling return since 1987 could be as low as -2.24%), the investor should reasonably anticipate the potential for the portfolio to incur losses over the forthcoming 10 years.

Minimum rolling return for a period such as 10-year offers a different and often better historical risk and return metric than other popular risk and return metrics such as Sharpe ratio, standard deviation (volatility) or maximum drawdown.

See Portfolio Calculator and Rolling Returns for more detailed description.

From 05/15/1986 to 05/16/2024, the worst annualized return of 3-year rolling returns for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is -1.92%.

From 05/15/1986 to 05/16/2024, the worst annualized return of 5-year rolling returns for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 0.87%.

From 05/15/1986 to 05/16/2024, the worst annualized return of 10-year rolling returns for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 1.8%.

From 05/15/1986 to 05/16/2024, the worst annualized return of 20-year rolling returns for TAX EXEMPT INTERMEDIATE-TERM FUND TAX EXEMPT INTERMEDIATE-TERM FUND SHARES (USATX) is 3.65%.

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