Best Mutual Funds Awards By Category: Municipal Bond

This list highlights the best municipal bond funds from 2008 to 2017, based on each fund outperforming the Bloomberg Barclays Municipal Bond index over the last one-, three-, five- and 10-year periods. Shaded cells indicate the best-of-the-best funds based on 10-year performance.

All returns as of Dec. 31, 2017.

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Best Municipal Bond Funds
Mutual fund Symbol 1-year total return 3-year average total return 5-year average total return 10-year average total return Morningstar category
Benchmark: BBgBarc Municipal 5.45 2.98 3.02 4.46
Nuveen CA High Yield Municipal Bond I NCHRX 11.25 5.44 6.15 6.46 US Fund Muni California Long No
Nuveen Municipal Total Return Mgd Accts NMTRX 7.40 4.49 4.47 6.03 US Fund Muni National Long No
Delaware National Hi-Yld Muni Bd A CXHYX 9.11 4.78 4.53 5.93 US Fund High Yield Muni No
Franklin CA High Yield Municipal A FCAMX 7.12 4.45 4.70 5.82 US Fund Muni California Long No
AMG GW&K Municipal Enhanced Yield I GWMEX 9.79 4.81 4.51 5.76 US Fund High Yield Muni No
BlackRock High Yield Municipal Instl MAYHX 9.05 5.14 4.79 5.68 US Fund High Yield Muni No
Nuveen CA Municipal Bond I NCSPX 6.73 4.18 4.66 5.61 US Fund Muni California Long No
MFS Municipal High Income A MMHYX 7.64 4.80 4.42 5.46 US Fund High Yield Muni No
Nuveen All-American Municipal Bond A FLAAX 7.98 3.97 3.95 5.44 US Fund Muni National Long No
Invesco High Yield Municipal A ACTHX 9.09 5.52 5.27 5.43 US Fund High Yield Muni Yes
American Century CA High Yield Muni Inv BCHYX 8.47 4.58 4.73 5.37 US Fund Muni California Long No
BlackRock California Muni Opps Instl MACMX 7.24 4.14 3.73 5.34 US Fund Muni California Intermediate No
Wells Fargo Municipal Bond Admin WMFDX 6.11 3.25 3.78 5.32 US Fund Muni National Long No
T. Rowe Price Tax-Free High Yield PRFHX 7.30 4.15 4.40 5.31 US Fund High Yield Muni No
American High-Income Municipal Bond A AMHIX 8.51 4.78 4.85 5.20 US Fund High Yield Muni No
Vanguard High-Yield Tax-Exempt VWAHX 7.85 4.23 4.11 5.06 US Fund Muni National Interm No
BlackRock Strategic Muni Opps Instl MAMTX 8.05 4.09 3.73 5.06 US Fund Muni National Interm No
Columbia Strategic Municipal Inc A INTAX 7.31 3.86 3.92 5.03 US Fund Muni National Long No
Nuveen NJ Municipal Bond I NMNJX 6.89 3.70 3.58 4.99 US Fund Muni New Jersey No
Nuveen High Yield Municipal Bond I NHMRX 12.06 6.12 6.37 4.99 US Fund High Yield Muni No
Pioneer AMT-Free Municipal A PBMFX 6.56 3.48 3.57 4.95 US Fund Muni National Long No
Columbia High Yield Municipal Inst SRHMX 7.04 4.26 4.48 4.94 US Fund High Yield Muni No
Nuveen Minnesota Municipal Bond A FJMNX 6.40 3.34 3.21 4.94 US Fund Muni Minnesota No
Columbia Strat CA Muncpl Inc A CLMPX 5.94 3.09 3.68 4.94 US Fund Muni California Long No
BlackRock NJ Municipal Bond Instl MANJX 7.10 3.40 3.41 4.86 US Fund Muni New Jersey No
Prudential Muni High Income B PMHYX 7.56 4.00 4.00 4.86 US Fund High Yield Muni Yes
Franklin CA Tax-Free Income A FKTFX 6.08 3.48 3.88 4.85 US Fund Muni California Long No
T. Rowe Price Summit Municipal Inc PRINX 5.93 3.25 3.40 4.84 US Fund Muni National Long No
Dreyfus High Yield Municipal Bond Z DHMBX 13.12 6.17 4.81 4.83 US Fund High Yield Muni Yes
Lord Abbett National Tax Free A LANSX 7.07 3.54 3.29 4.83 US Fund Muni National Long No
USAA CA Bond USCBX 5.60 3.10 3.68 4.82 US Fund Muni California Long No
MFS CA Municipal Bond A MCFTX 6.14 3.86 3.67 4.79 US Fund Muni California Long No
BlackRock NY Municipal Opps Instl MANKX 6.94 4.22 3.91 4.78 US Fund Muni New York Intermediate No
Fidelity Tax-Free Bond FTABX 6.44 3.31 3.48 4.75 US Fund Muni National Long No
Invesco CA Tax-Free Income Y CLFDX 5.87 3.42 3.71 4.73 US Fund Muni California Long No
Vanguard OH Long-Term Tax-Exempt VOHIX 6.32 3.83 3.81 4.73 US Fund Muni Ohio No
Federated Municipal High Yield Adv F FHTFX 7.48 4.34 4.32 4.72 US Fund High Yield Muni No
Sit Tax-Free Income SNTIX 7.68 4.04 4.28 4.72 US Fund Muni National Interm No
American Funds Tax-Exempt CA A TAFTX 5.94 3.03 3.43 4.72 US Fund Muni California Intermediate No
Vanguard CA Long-Term Tax-Exempt Inv VCITX 6.81 3.71 3.98 4.70 US Fund Muni California Long No
Deutsche Strategic High Yld Tx-Fr S SHYTX 6.39 3.76 3.32 4.70 US Fund High Yield Muni No
Vanguard Long-Term Tax-Exempt VWLTX 6.44 3.65 3.72 4.69 US Fund Muni National Long No
USAA Tax Exempt Long-Term USTEX 5.80 3.24 3.41 4.69 US Fund Muni National Long No
PIMCO High Yield Municipal Bond I PHMIX 9.81 6.08 4.92 4.68 US Fund High Yield Muni No
T. Rowe Price California Tax-Free Bond PRXCX 5.53 3.12 3.51 4.66 US Fund Muni California Long No
Western Asset Municipal High Income A STXAX 6.80 3.58 3.19 4.66 US Fund High Yield Muni No
Nuveen CO Municipal Bond A FCOTX 5.78 3.42 3.60 4.66 US Fund Muni Single State Long No
Lord Abbett CA Tax-Free Income A LCFIX 6.71 3.46 3.79 4.63 US Fund Muni California Long No
BlackRock PA Municipal Bond Instl MAPYX 5.77 3.30 3.21 4.63 US Fund Muni Pennsylvania No
Nuveen NY Municipal Bond I NTNYX 6.01 3.47 3.44 4.62 US Fund Muni New York Long No
JHancock CA Tax-Free Income A TACAX 6.10 3.06 3.51 4.60 US Fund Muni California Long No
Goldman Sachs High Yield Muni Instl GHYIX 9.31 5.53 5.13 4.60 US Fund High Yield Muni No
Nuveen MA Municipal Bond I NBMAX 5.46 3.30 3.26 4.58 US Fund Muni Massachusetts No
Fidelity Municipal Income FHIGX 6.68 3.29 3.42 4.57 US Fund Muni National Long No
Fidelity California Municipal Income FCTFX 5.80 3.03 3.52 4.54 US Fund Muni California Long No
Nuveen PA Municipal Bond A FPNTX 5.87 3.01 3.28 4.54 US Fund Muni Pennsylvania No
Sit MN Tax-Free Income SMTFX 5.83 3.14 3.16 4.54 US Fund Muni Minnesota No
Vanguard PA Long-Term Tax-Exempt Inv VPAIX 6.59 3.72 3.75 4.50 US Fund Muni Pennsylvania No
American Century High-Yield Muni Inv ABHYX 9.25 4.85 4.22 4.50 US Fund High Yield Muni No
Vanguard NJ Long-Term Tax-Exempt Inv VNJTX 8.36 3.90 3.74 4.50 US Fund Muni New Jersey No
Delaware MN High-Yield Muni Bd A DVMHX 5.64 3.04 3.07 4.50 US Fund Muni Minnesota No
Columbia Tax-Exempt A COLTX 6.14 3.01 3.22 4.49 US Fund Muni National Long No
Putnam CA Tax Exempt Income A PCTEX 6.13 3.04 3.27 4.49 US Fund Muni California Long No
Fidelity Ohio Municipal Income FOHFX 6.03 3.46 3.41 4.46 US Fund Muni Ohio No
Top-Performing Funds Over 5 But Less Than 10 Years Old
MainStay High Yield Municipal Bond I MMHIX 8.87 5.38 5.40 US Fund High Yield Muni No
AB Municipal Income MISHX 9.57 5.69 5.07 US Fund High Yield Muni No
AB High Income Municipal Advisor ABTYX 10.19 5.24 4.81 US Fund High Yield Muni No
Principal Opportunistic Municipal A PMOAX 10.13 5.29 4.57 US Fund High Yield Muni No
Transamerica Intermediate Muni I TIMUX 5.60 3.40 4.53 US Fund Muni National Interm No
Wells Fargo CoreBuilder Shares Series M WFCMX 7.02 3.50 4.37 US Fund Muni National Interm No
Eaton Vance TABS 5 to15 Yr Lad Muni Bd I EILTX 6.12 3.61 4.37 US Fund Muni National Interm No
Performance Trust Municipal Bond Instl PTIMX 7.28 3.88 3.97 US Fund Muni National Interm No
Eaton Vance Municipal Opportunities I EMOIX 6.16 3.67 3.96 US Fund Muni National Interm No
MainStay New York Tax Free Opp I MNOIX 5.83 3.67 3.85 US Fund Muni New York Long No
BNY Mellon Municipal Opportunities M MOTMX 6.17 3.07 3.42 US Fund Muni National Interm Yes
Oppenheimer Rochester Interm Term MuniY ORRYX 6.12 3.63 3.22 US Fund Muni National Interm No
Lord Abbett AMT Free Municipal Bond I LMCIX 6.74 3.53 3.08 US Fund Muni National Long No
Top-Performing Mutual Funds Less Than 5 Years Old
BlackRock Allocation Target Shrs Ser E BATEX 10.22 6.47 US Fund High Yield Muni No
Transamerica High Yield Muni I THYIX 9.66 5.16 US Fund High Yield Muni No
Wasmer Schroeder High Yield Muni Instl WSHYX 8.26 4.65 US Fund High Yield Muni No
Nuveen Strategic Municipal Opps I NSIOX 9.75 4.64 US Fund Muni National Long No
MainStay California Tax Free Opps I MCOIX 6.75 4.51 US Fund Muni California Long No
Wells Fargo High Yield Municipal Bd Inst WHYIX 8.99 4.47 US Fund High Yield Muni No
City National Rochdale Muni Hi Inc Svc CNRMX 9.40 4.02 US Fund High Yield Muni No
Nuveen Short Duration Hi Yld Muni Bd I NVHIX 8.11 3.77 US Fund High Yield Muni No

Sources: IBD, Morningstar Direct

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