PGIM Muni High Income Fund (PHIZX)
$
)
Barron’s Best Fund Families: Ranked #4 for best fund family over the 1-year period ended 12/31/2024, among 48 qualifying fund families based on asset- weighted returns.
Seeks maximum income that is exempt from federal income taxes by investing at least 80% of its assets in a blend of municipal bonds. The Fund may be appropriate for those who are seeking income that is generally free from federal taxes and can accept greater risk as they seek higher yield.
Growth of $10,000
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. This chart represents historical performance and does not assume the effects of sales charges or varying fees and expenses of other share classes. If shown with sales charges or these other fees and expenses, performance could have been lower. It is not possible to invest directly in an index. Click here to view benchmark index definitions.
FUND INFORMATION
Fund StatisticS
|
Name
|
Weight
|
|---|---|
| AMT (%) | 17.4 |
| Average Effective Maturity (years) | 11.0 |
| Average Maturity (years) | 14.4 |
| Duration (years) | 6.9 |
| Standard Deviation (3 year) | 7.4 |
Source: Morningstar. Morningstar Ratings may be calculated based on share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses the fund’s oldest class to determine its hypothetical rating for certain periods. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistent performance, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating.
The Morningstar Medalist RatingTM is the summary expression of Morningstar’s forward-looking investment strategies analysis offered via specific vehicles on a Gold, Silver, Bronze, Neutral, and Negative scale. These ratings indicate the investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investments are evaluated on 3 pillars (People, Parent, and Process) which, when coupled with a fee assessment, form the basis for Morningstar’s conviction in those product’s investment merits and determine the assigned rating. Pillar ratings are Low, Below Average, Average, Above Average, and High, and are evaluated qualitatively (either directly to a covered vehicle or indirectly when a covered vehicle’s ratings are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by expected performance into rating groups defined by their Morningstar Category and active or passive status. Analysts who directly cover a vehicle assign the 3 pillar ratings based on their qualitative assessment, subject to Analyst Rating Committee oversight, and monitor and reevaluate them at least every 14 months. Vehicle ratings are assigned monthly when covered either indirectly by analysts or by algorithm. For more information, please visit www.global.morningstar.com/managerdisclosures/. Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to issues like unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment. Changes in underlying factors can mean the rating is subsequently no longer accurate. ‡Source: Morningstar.
Risks of investing in the fund include but are not limited to the following: Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. High yield (“junk”) bonds are subject to greater credit and market risks. The Fund is subject to fixed income obligations and municipal bonds risk , where the Fund's holdings, share price, yield and total return may fluctuate in response to bond market movements and municipal bond market movements. The Fund may purchase municipal bonds that are insured to attempt to reduce credit risk. Derivatives may carry market, credit and liquidity risks. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
- Monthly & Quarterly Performance
- Prices & Yields
Total Returns (%)
| TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE | |||||||
|---|---|---|---|---|---|---|---|
| Cumulative | Average Annual | ||||||
| Class | Ticker | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Since Inception |
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
See Daily Returns for the PGIM Muni High Income Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Muni High Income Fund.
See Daily Returns for the PGIM Muni High Income Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Muni High Income Fund.
|
Fund Expenses
|
Maximum Sales Charge (%)
|
|||
|---|---|---|---|---|
|
Class
|
Gross (%)
|
Net (%)
|
Date*
|
|
| A | 0.84 | 0.81 | 12/31/2025 | 3.25 |
| C | 1.65 | 1.62 | 12/31/2025 | 1.00 |
| R6 | 0.57 | 0.49 | 12/31/2025 | — |
| Z | 0.62 | 0.58 | 12/31/2025 | — |
*This date represents the contractual reduction date through which the net expense ratio is in effect.
Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Morningstar Category Average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Morningstar Category Average and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class Z inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.
Morningstar High-Yield Muni Category Average: High-Yield Muni portfolios typically invest a substantial portion of assets in high-income municipal securities that are not rated or that are rated at the level of or below BBB (considered high-yield within the municipal-bond industry) by a major ratings agency such as Standard & Poor’s or Moody’s.
Bloomberg Municipal Bond Index is an unmanaged index of long-term investment-grade municipal bonds.
An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.
Prices
|
Class
|
NAV ($)
|
NAV Change ($)
|
NAV Change (%)
|
POP ($)
|
Total Net Assets ($)
|
|---|---|---|---|---|---|
| A | 9.40 | 0.00 | 0.00 | 9.72 | 335,042,900.07 |
| C | 9.40 | 0.00 | 0.00 | — | 17,060,052.24 |
| R6 | 9.40 | 0.01 | 0.11 | — | 79,014,208.77 |
| Z | 9.39 | 0.01 | 0.11 | — | 471,577,737.14 |
NAV (Net Asset Value) is the $U.S. value of a single share of a fund, excluding any sales charges. Change shows the change in $U.S. value over the previous day:
= Gain, 
= Loss, 
= No Change.
See Prices of other PGIM Investments Mutual Funds.
52 Week High/Low
|
Class
|
52 Week High ($)
|
52 Week High Date
|
52 Week Low ($)
|
52 Week Low Date
|
|---|---|---|---|---|
| A | 9.68 | 12/06/2024 | 8.94 | 04/09/2025 |
| C | 9.68 | 12/06/2024 | 8.94 | 04/09/2025 |
| R6 | 9.67 | 12/06/2024 | 8.93 | 04/09/2025 |
| Z | 9.67 | 12/04/2024 | 8.93 | 04/09/2025 |
For share classes less than one year old, the 52-week high and 52-week low NAVs are calculated from inception to the current date.
Yields
| Class | SEC 30-Day Subsidized Yield (%) | SEC 30-Day Unsubsidized Yield (%) | Offer Distb. Yield (%) | NAV Distb. Yield (%) | SEC-30 Day Sub Taxable Equivalent Yield (%) |
|---|---|---|---|---|---|
| A - View Prospectus | 3.88 | 3.86 | 3.75 | 3.87 | 6.55 |
| C - View Prospectus | 3.17 | 3.14 | — | 3.04 | 5.35 |
| R6 - View Prospectus | 4.33 | 4.27 | — | 4.18 | 7.31 |
| Z - View Prospectus | 4.25 | 4.22 | — | 4.10 | 7.18 |
See Yields of other PGIM Investments Mutual Funds.
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
This material must be preceded or accompanied by a current prospectus or summary prospectus. Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
- Portfolio Summary
- Complete Holdings
Portfolio Attributes
Largest Issuers (% of Assets)
|
Largest Issuers
|
% of Assets
|
|---|---|
| Puerto Rico Sales Tax Financing | 6.6% |
| VANECK VECTORS HIGH YIELD MUNICIPAL INDEX ETF | 4.7% |
| iShares S&P National Municipal Bond Fund | 3.9% |
| Puerto Rico Commonwealth of (Government) | 1.9% |
| DELTA Air Lines | 1.6% |
| State of IL | 1.6% |
| Buckeye OH TOB Settlement | 1.5% |
| Chicago Board of Education | 1.5% |
| United Continental | 1.5% |
| Chicago IL O'Hare Intl Arpt | 1.4% |
Sector Breakdown (% of Assets)
|
Sector Breakdown
|
% of Assets
|
|---|---|
| Corporate Backed IDB & PCR | 16.0% |
| Special Tax/Assessment District | 13.6% |
| General Obligation | 10.5% |
| Education | 10.2% |
| Healthcare | 10.2% |
| Transportation | 8.7% |
| Power | 5.4% |
| Housing | 5.3% |
| Tobacco | 3.9% |
| Lease Backed Certificate of Participation | 0.3% |
| Other | 16.5% |
| Cash/Equiv | -0.5% |
US Regional Breakdown (% of Assets)
|
US Regional Breakdown
|
% of Assets
|
|---|---|
| Other | 9.0 |
| Puerto Rico | 8.9 |
| Florida | 8.6 |
| Illinois | 6.7 |
| Wisconsin | 6.6 |
| New York | 6.5 |
| Texas | 5.9 |
| New Hampshire | 5.1 |
| California | 4.4 |
| Georgia | 3.5 |
Credit Quality (% of Assets)
|
Credit Quality
|
Fund (% of Assets)
|
|---|---|
| AAA | 2.2% |
| AA | 12.8% |
| A | 13.7% |
| BBB | 17.9% |
| BB | 7.8% |
| B | 0.9% |
| Not Rated | 40.6% |
| Cash/Equiv | 4.0% |
FUND STATISTICS
|
Fund Statistics
|
Years
|
|---|---|
| AMT (%) | 17.4 |
| Average Effective Maturity (years) | 11.0 |
| Average Maturity (years) | 14.4 |
| Duration (years) | 6.9 |
| Standard Deviation (3 year) | 7.40 |
All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Total number of holdings based on issuers. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Totals may not sum due to rounding. Negative holdings reflect outstanding trades at period end.
Fund Holdings
Holdings are unaudited, may vary and are subject to change. Please refer to the Fund's annual report for audited holdings information. This is not a recommendation to buy or sell any security listed.
Value ($): Cash securities are calculated using market value and derivative securities are calculated using notional value.
Source: Bank of New York Mellon. Holdings are provided to Prudential Financial by the custodian bank and Prudential Financial is not responsible for any errors or omissions related to the holdings data.
© 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
4072323 Ed. 12/2024
|
Security ID# (CUSIP/SEDOL)
|
Security Description
|
Ticker Symbol
|
Coupon Rate
|
Maturity Date
|
Shares/Notional
|
Value ($)
|
% of Portfolio
|
|---|---|---|---|---|---|---|---|
| 92189H409 | Vaneck High Yield Muni Etf | HYD | — | — | 827,000.00 | 42,094,300.00 | 4.74 |
| 464288414 | Ishares National Muni Bond Etf | MUB | — | — | 328,250.00 | 34,955,342.00 | 3.94 |
| 60528AAS3 | Mississippi Business Finance Corp | MSSDEV | 3.5 | 12/01/2030 | 32,000,000.00 | 32,000,000.00 | 3.60 |
| 74514L4C8 | Commonwealth Of Puerto Rico | PRC | — | 11/01/2051 | 34,972,792.00 | 23,419,955.00 | 2.64 |
| 74529JQG3 | Puerto Rico Sales Tax Financing Corp Sal | PRCGEN | — | 07/01/2046 | 51,183,000.00 | 16,969,272.00 | 1.91 |
| 118217CZ9 | Buckeye Tobacco Settlement Financing Aut | BUCGEN | 5.0 | 06/01/2055 | 13,920,000.00 | 11,846,257.00 | 1.33 |
| 74514L4G9 | Commonwealth Of Puerto Rico | PRC | — | 11/01/2051 | 19,386,999.00 | 11,384,581.00 | 1.28 |
| 74514L3J4 | Commonwealth Of Puerto Rico | PRC | 5.75 | 07/01/2031 | 8,015,875.00 | 8,863,456.00 | 1.00 |
| 13034A6B1 | California Infrastructure & Economic Dev | CASDEV | 9.5 | 01/01/2065 | 9,000,000.00 | 8,206,870.00 | 0.92 |
| 56035DJJ2 | MAIN Street Natural Gas Inc | MAIUTL | 5.0 | 05/01/2055 | 7,250,000.00 | 7,909,611.00 | 0.89 |
| 64542PGD1 | NEW Hope Cultural Education Facilities F | NHPFAC | 6.5 | 01/01/2031 | 7,675,000.00 | 7,424,202.00 | 0.84 |
| 744387AD3 | Public Authority For Colorado Energy | PUBUTL | 6.5 | 11/15/2038 | 6,050,000.00 | 7,225,016.00 | 0.81 |
| 64972JNR5 | NEW York City Transitional Finance Autho | NYCGEN | 5.5 | 05/01/2052 | 5,000,000.00 | 5,406,254.00 | 0.61 |
| 64990KFX6 | NEW York State Dormitory Authority | NYSGEN | 5.25 | 03/15/2052 | 5,000,000.00 | 5,258,699.00 | 0.59 |
| 74442PR64 | Public Finance Authority | PUBGEN | 4.0 | 01/01/2055 | 5,000,000.00 | 5,122,497.00 | 0.58 |
| 392274F84 | Greater Orlando Aviation Authority | GREAPT | 5.0 | 11/15/2036 | 4,700,000.00 | 4,675,133.00 | 0.53 |
| 34073TKA4 | Florida Higher Educational Facilities Fi | FLSHGR | 5.0 | 03/01/2042 | 4,795,000.00 | 4,738,525.00 | 0.53 |
| 05786PAA1 | Baldwin County Industrial Development Au | BLWPOL | 5.0 | 06/01/2055 | 4,500,000.00 | 4,566,245.00 | 0.51 |
| 650116AV8 | NEW York Transportation Development Corp | NYTTRN | 5.25 | 01/01/2050 | 4,480,000.00 | 4,463,506.00 | 0.50 |
| 649519DH5 | NEW York Liberty Development Corp | NYCDEV | 2.8 | 09/15/2069 | 4,750,000.00 | 4,397,423.00 | 0.50 |
| 16559PBU8 | Chester County Industrial Development Au | CHEDEV | 4.0 | 08/01/2048 | 5,000,000.00 | 4,341,349.00 | 0.49 |
| 74448UAC2 | Public Finance Authority | PUBTRN | 6.5 | 12/31/2065 | 4,000,000.00 | 4,370,362.00 | 0.49 |
| 888809BE9 | Tobacco Settlement Financing Corp/ri | TOBGEN | 5.0 | 06/01/2040 | 4,350,000.00 | 4,351,848.00 | 0.49 |
| 60528AAW4 | Mississippi Business Finance Corp | MSSDEV | 3.5 | 12/01/2030 | 4,260,000.00 | 4,260,000.00 | 0.48 |
| 63608TAB6 | NEW Hampshire Business Finance Authority | NFAGEN | 5.25 | 12/01/2035 | 4,100,000.00 | 4,099,487.00 | 0.46 |
| 546399SZ0 | Louisiana Public Facilities Authority | LASFAC | 5.75 | 09/01/2064 | 4,000,000.00 | 4,088,524.00 | 0.46 |
| 74529JQH1 | Puerto Rico Sales Tax Financing Corp Sal | PRCGEN | — | 07/01/2051 | 16,538,000.00 | 4,051,567.00 | 0.46 |
| 708686ES5 | Pennsylvania Economic Development Financ | PASDEV | 5.25 | 12/01/2038 | 4,000,000.00 | 4,031,622.00 | 0.45 |
| 34061XAG7 | Florida Development Finance Corp | FLSDEV | 4.38 | 10/01/2054 | 4,000,000.00 | 4,015,867.00 | 0.45 |
| 41430EJC8 | Harris County Municipal Utility District | HARUTL | 4.5 | 03/01/2049 | 4,190,000.00 | 3,928,376.00 | 0.44 |
| 727521AB2 | Plaquemines Port Harbor & Terminal Distr | PLATRN | 12.0 | 12/01/2034 | 3,800,000.00 | 3,903,374.00 | 0.44 |
| 7599112F6 | Regional Transportation Authority | REGTRN | 4.0 | 06/01/2038 | 4,015,000.00 | 3,866,596.00 | 0.44 |
| 650116GN0 | NEW York Transportation Development Corp | NYTTRN | 6.0 | 04/01/2035 | 3,465,000.00 | 3,807,808.00 | 0.43 |
| 25483VWD2 | District Of Columbia | DISREV | 4.0 | 07/01/2049 | 4,610,000.00 | 3,842,421.00 | 0.43 |
| 14052WDR5 | Capital Trust Agency Inc | CPTGEN | — | 07/01/2061 | 45,000,000.00 | 3,811,262.00 | 0.43 |
| 011903GL9 | Alaska Industrial Development & Export A | AKSDEV | 4.0 | 10/01/2049 | 4,320,000.00 | 3,697,937.00 | 0.42 |
| 74442PF75 | Public Finance Authority | PUBGEN | 5.75 | 07/01/2054 | 3,500,000.00 | 3,530,407.00 | 0.40 |
| 52349HBE2 | LEE County Housing Finance Authority | LEEMFH | 5.5 | 07/01/2028 | 3,500,000.00 | 3,509,151.00 | 0.40 |
| 64578CAH4 | NEW Jersey Economic Development Authorit | NJSDEV | 5.25 | 09/15/2029 | 3,530,000.00 | 3,531,815.00 | 0.40 |
| 151145B99 | Celina Independent School District | CEASCD | 5.25 | 02/15/2055 | 3,300,000.00 | 3,489,977.00 | 0.39 |
| 190813SZ9 | COBB County Kennestone Hospital Authorit | COBMED | 4.0 | 04/01/2052 | 4,000,000.00 | 3,424,756.00 | 0.39 |
| 19277TAA0 | CITY Of Colby Ks | CLBMED | 5.5 | 07/01/2026 | 3,500,000.00 | 3,504,275.00 | 0.39 |
| 167505QY5 | Chicago Board Of Education | CHIEDU | 7.0 | 12/01/2044 | 3,390,000.00 | 3,391,226.00 | 0.38 |
| 63608TAC4 | NEW Hampshire Business Finance Authority | NFAGEN | 5.38 | 12/15/2035 | 3,400,000.00 | 3,378,404.00 | 0.38 |
| 650116CQ7 | NEW York Transportation Development Corp | NYTTRN | 4.0 | 01/01/2036 | 3,475,000.00 | 3,353,682.00 | 0.38 |
| 364568JL0 | CITY Of Galveston Tx Wharves & Terminal | GALTRN | 6.0 | 08/01/2043 | 3,060,000.00 | 3,326,757.00 | 0.37 |
| 09182TAW7 | Black Belt Energy Gas District | BBEUTL | 4.0 | 12/01/2052 | 3,185,000.00 | 3,222,513.00 | 0.36 |
| 650116JQ0 | NEW York Transportation Development Corp | NYTTRN | 6.0 | 06/30/2059 | 3,000,000.00 | 3,172,668.00 | 0.36 |
| 63608SAM4 | NEW Hampshire Business Finance Authority | NFADEV | 4.0 | 01/01/2051 | 4,105,000.00 | 3,229,513.00 | 0.36 |
| 63607DAB2 | NEW Hampshire Business Finance Authority | NFAHSG | 4.15 | 10/20/2040 | 3,185,000.00 | 3,202,048.00 | 0.36 |
| 64542QCK7 | NEW Hope Cultural Education Facilities F | NHPFAC | 4.0 | 08/15/2056 | 4,455,000.00 | 3,213,477.00 | 0.36 |
| 63608TAM2 | NEW Hampshire Business Finance Authority | NFAGEN | — | 12/01/2031 | 4,500,000.00 | 3,157,425.00 | 0.36 |
| 97712JKM4 | Wisconsin Health & Educational Facilitie | WISMED | 5.5 | 02/15/2054 | 3,000,000.00 | 3,180,972.00 | 0.36 |
| 60527MBA6 | Mississippi Business Finance Corp | MSSDEV | 5.0 | 02/01/2036 | 3,000,000.00 | 3,063,880.00 | 0.35 |
| 09182TEV5 | Black Belt Energy Gas District | BBEUTL | 5.25 | 05/01/2056 | 3,000,000.00 | 3,115,847.00 | 0.35 |
| 1675934S8 | Chicago O'hare International Airport | CHITRN | 5.5 | 01/01/2053 | 3,000,000.00 | 3,112,472.00 | 0.35 |
| 13048VQ27 | California Municipal Finance Authority | CASFIN | 6.0 | 01/01/2039 | 3,000,000.00 | 3,047,618.00 | 0.34 |
| 09182TEC7 | Black Belt Energy Gas District | BBEUTL | 5.0 | 10/01/2055 | 2,800,000.00 | 3,022,046.00 | 0.34 |
| 492436AZ3 | Kerrville Health Facilities Development | KRVMED | 5.0 | 08/15/2035 | 3,000,000.00 | 3,001,452.00 | 0.34 |
| 240471PD8 | Dekalb County Housing Authority | DEKMFH | 4.0 | 12/01/2033 | 3,000,000.00 | 3,004,450.00 | 0.34 |
| 650116AR7 | NEW York Transportation Development Corp | NYTTRN | 5.0 | 07/01/2046 | 2,995,000.00 | 2,982,949.00 | 0.34 |
| 650116HX7 | NEW York Transportation Development Corp | NYTTRN | — | 12/31/2054 | 5,000,000.00 | 3,055,718.00 | 0.34 |
| 64542PGQ2 | NEW Hope Cultural Education Facilities F | NHPFAC | 6.5 | 07/01/2056 | 3,300,000.00 | 3,009,983.00 | 0.34 |
| 63607WBK9 | NEW Hampshire Business Finance Authority | NFADEV | 5.15 | 09/28/2037 | 3,000,000.00 | 2,978,716.00 | 0.34 |
| 93978LHF6 | Washington State Housing Finance Commiss | WASHSG | 5.5 | 07/01/2049 | 3,000,000.00 | 3,025,961.00 | 0.34 |
| 804828AC5 | Savannah Georgia Convention Center Autho | SGCFAC | 5.25 | 06/01/2061 | 3,000,000.00 | 2,969,973.00 | 0.33 |
| 837031H71 | South Carolina Jobs-economic Development | SCSDEV | 6.88 | 03/01/2065 | 3,000,000.00 | 2,934,108.00 | 0.33 |
| 452152E56 | State Of Illinois | ILS | 4.0 | 06/01/2036 | 3,000,000.00 | 2,912,528.00 | 0.33 |
| 009730PW6 | Akron Bath Copley Joint Township Hospita | AKRMED | 3.0 | 11/15/2040 | 3,000,000.00 | 2,895,310.00 | 0.33 |
| 167486E39 | CITY Of Chicago Il | CHI | 5.5 | 01/01/2049 | 3,000,000.00 | 2,943,555.00 | 0.33 |
| 452153JV2 | State Of Illinois | ILS | 5.0 | 05/01/2038 | 2,625,000.00 | 2,825,826.00 | 0.32 |
| 261333HJ0 | Doylestown Hospital Authority | DOYMED | 5.38 | 07/01/2039 | 2,575,000.00 | 2,875,186.00 | 0.32 |
| 63608TAD2 | NEW Hampshire Business Finance Authority | NFAGEN | 5.13 | 12/15/2030 | 2,851,000.00 | 2,854,454.00 | 0.32 |
| 888805CJ5 | IOWA Tobacco Settlement Authority | TOBGEN | — | 06/01/2065 | 19,275,000.00 | 2,833,082.00 | 0.32 |
| 67760HKB6 | OHIO Turnpike & Infrastructure Commissio | OHSTRN | — | 02/15/2040 | 5,135,000.00 | 2,713,493.00 | 0.31 |
| 74442PB53 | Public Finance Authority | PUBGEN | 9.0 | 11/01/2028 | 2,600,000.00 | 2,786,942.00 | 0.31 |
| 71781PBL3 | Philadelphia Authority For Industrial De | PHIMED | 6.63 | 06/01/2050 | 2,795,000.00 | 2,746,837.00 | 0.31 |
| 63607DAF3 | NEW Hampshire Business Finance Authority | NFAHSG | 5.15 | 06/20/2041 | 2,498,909.00 | 2,623,576.00 | 0.30 |
| 63610CAA1 | NEW Hampshire Business Finance Authority | NHAMFH | 5.75 | 04/28/2042 | 2,500,000.00 | 2,635,201.00 | 0.30 |
| 36005FGE9 | Development Authority For Fulton County | FULDEV | 4.0 | 07/01/2049 | 3,000,000.00 | 2,626,852.00 | 0.30 |
| 167593M74 | Chicago O'hare International Airport | CHITRN | 4.0 | 01/01/2053 | 3,005,000.00 | 2,672,287.00 | 0.30 |
| 74446DAQ1 | Public Finance Authority | PUBFAC | 7.0 | 09/01/2054 | 2,500,000.00 | 2,634,750.00 | 0.30 |
| CURRENCY | Currency | — | — | — | 2,556,462.00 | 2,556,462.00 | 0.29 |
| 14054YAD3 | Capital Trust Authority | CTSEDU | 5.0 | 06/01/2064 | 3,000,000.00 | 2,615,155.00 | 0.29 |
| 452152U25 | State Of Illinois | ILS | 5.0 | 12/01/2039 | 2,500,000.00 | 2,549,990.00 | 0.29 |
| 45204FHU2 | Illinois Finance Authority | ILSGEN | 5.0 | 05/15/2051 | 3,000,000.00 | 2,586,799.00 | 0.29 |
| 56042CAY1 | Finance Authority Of Maine | MESPOL | 4.63 | 12/01/2047 | 2,600,000.00 | 2,559,947.00 | 0.29 |
| 74442PB61 | Public Finance Authority | PUBGEN | 10.0 | 11/01/2038 | 2,285,000.00 | 2,589,479.00 | 0.29 |
| 735389W38 | PORT Of Seattle Wa | PTSGEN | 5.5 | 08/01/2047 | 2,490,000.00 | 2,613,551.00 | 0.29 |
| 68450LGN9 | Orange County Health Facilities Authorit | ORAMED | 4.0 | 08/01/2047 | 3,000,000.00 | 2,529,717.00 | 0.28 |
| 67868WAD1 | Oklahoma County Finance Authority | OKSGEN | 6.5 | 06/15/2064 | 2,500,000.00 | 2,506,872.00 | 0.28 |
| 65821DXS5 | North Carolina Medical Care Commission | NCSMED | 5.0 | 10/01/2050 | 2,555,000.00 | 2,521,961.00 | 0.28 |
| 650116CZ7 | NEW York Transportation Development Corp | NYTTRN | 5.0 | 10/01/2040 | 2,500,000.00 | 2,523,476.00 | 0.28 |
| 55374SAC4 | M-s-r Energy Authority | MSRPWR | 6.5 | 11/01/2039 | 2,060,000.00 | 2,507,233.00 | 0.28 |
| 63608TAS9 | NEW Hampshire Business Finance Authority | NFAGEN | 5.88 | 12/15/2033 | 2,500,000.00 | 2,517,082.00 | 0.28 |
| 353187EW3 | County Of Franklin Oh | FRAMED | 3.7 | 11/01/2042 | 2,455,000.00 | 2,455,000.00 | 0.28 |
| 19648FRW6 | Colorado Health Facilities Authority | COSMED | 4.0 | 12/01/2050 | 3,100,000.00 | 2,507,213.00 | 0.28 |
| 14055AAE2 | Capital Trust Authority | CTSGEN | 6.88 | 12/01/2044 | 2,500,000.00 | 2,518,482.00 | 0.28 |
| 167486XF1 | CITY Of Chicago Il | CHI | 5.0 | 01/01/2038 | 2,500,000.00 | 2,458,657.00 | 0.28 |
| 14052WDK0 | Capital Trust Agency Inc | CPTGEN | 5.0 | 01/01/2055 | 3,000,000.00 | 2,516,808.00 | 0.28 |
| 74442PD69 | Public Finance Authority | PUBGEN | 5.63 | 12/15/2030 | 2,514,643.00 | 2,520,024.00 | 0.28 |
| 804828AY7 | Savannah Georgia Convention Center Autho | SGCFAC | 5.0 | 06/01/2058 | 2,500,000.00 | 2,521,033.00 | 0.28 |
| 852640AC5 | Stamford Housing Authority | STMHSG | 4.25 | 10/01/2030 | 2,400,000.00 | 2,425,819.00 | 0.27 |
| 74447TAF9 | Public Finance Authority | PUBFAC | 5.38 | 12/15/2032 | 2,426,000.00 | 2,425,774.00 | 0.27 |
| 92708FAH1 | Village Community Development District N | VILDEV | 4.25 | 05/01/2043 | 2,580,000.00 | 2,402,060.00 | 0.27 |
| 13013JHD1 | California Community Choice Financing Au | CCEDEV | 5.0 | 12/01/2055 | 2,250,000.00 | 2,412,059.00 | 0.27 |
| 213187EH6 | COOK County Community College District N | COOHGR | 5.0 | 12/01/2042 | 2,315,000.00 | 2,407,237.00 | 0.27 |
| 452153FL8 | State Of Illinois | ILS | 5.5 | 05/01/2047 | 2,300,000.00 | 2,403,634.00 | 0.27 |
| 64971XNP9 | NEW York City Transitional Finance Autho | NYCGEN | 3.0 | 11/01/2047 | 3,200,000.00 | 2,423,572.00 | 0.27 |
| 64578CBW0 | NEW Jersey Economic Development Authorit | NJSDEV | 5.63 | 11/15/2030 | 2,275,000.00 | 2,277,422.00 | 0.26 |
| 38122NB84 | Golden State Tobacco Securitization Corp | GLDGEN | — | 06/01/2066 | 22,000,000.00 | 2,328,478.00 | 0.26 |
| 3137HDJL5 | Freddie Mac Multifamily Ml Certificates | FRETE | 4.7 | 04/01/2042 | 2,251,937.00 | 2,281,503.00 | 0.26 |
| 353187EF0 | County Of Franklin Oh | FRAMED | 4.0 | 05/15/2047 | 2,500,000.00 | 2,255,797.00 | 0.25 |
| 249182QU3 | CITY & County Of Denver Co Airport Syste | DENAPT | 5.5 | 11/15/2042 | 2,105,000.00 | 2,238,110.00 | 0.25 |
| 167505TG1 | Chicago Board Of Education | CHIEDU | 5.0 | 12/01/2034 | 2,155,000.00 | 2,177,151.00 | 0.25 |
| 167505WB8 | Chicago Board Of Education | CHIEDU | 5.0 | 12/01/2046 | 2,470,000.00 | 2,240,314.00 | 0.25 |
| 84136HCP6 | Southeast Energy Authority A Cooperative | SEEPWR | 5.0 | 09/01/2035 | 2,000,000.00 | 2,200,384.00 | 0.25 |
| 838810EE5 | CITY Of South Miami Health Facilities Au | SMIMED | 5.0 | 08/15/2047 | 2,105,000.00 | 2,110,354.00 | 0.24 |
| 88256RAK2 | Texas Municipal Gas Acquisition & Supply | TXSUTL | 5.0 | 01/01/2055 | 2,000,000.00 | 2,161,893.00 | 0.24 |
| 79575EAS7 | SALT Verde Financial Corp | SLTPWR | 5.0 | 12/01/2037 | 2,000,000.00 | 2,131,531.00 | 0.24 |
| 83704MBV7 | South Carolina Jobs-economic Development | SCSEDU | 4.0 | 06/01/2056 | 3,150,000.00 | 2,108,164.00 | 0.24 |
| 74529JRH0 | Puerto Rico Sales Tax Financing Corp Sal | PRCGEN | 4.33 | 07/01/2040 | 2,229,000.00 | 2,126,311.00 | 0.24 |
| 93978T4N6 | Washington State Housing Finance Commiss | WASHSG | 1.45 | 04/20/2037 | 21,476,534.00 | 2,104,075.00 | 0.24 |
| 154871CW5 | Central Plains Energy Project | CENPWR | 5.0 | 05/01/2054 | 2,000,000.00 | 2,116,959.00 | 0.24 |
| 165588FP4 | Chester County Industrial Development Au | CHEDEV | 5.0 | 03/01/2027 | 2,140,000.00 | 2,166,314.00 | 0.24 |
| 041806L73 | Arlington Higher Education Finance Corp | ARLEDU | 4.0 | 08/15/2046 | 2,705,000.00 | 2,154,551.00 | 0.24 |
| 34061UGS1 | Florida Development Finance Corp | FLSDEV | 4.0 | 07/01/2055 | 2,665,000.00 | 2,095,227.00 | 0.24 |
| 43233KAW4 | Hillsborough County Industrial Developme | HILMEC | 5.5 | 11/15/2054 | 2,000,000.00 | 2,141,083.00 | 0.24 |
| 646140JD6 | NEW Jersey Turnpike Authority | NJSTRN | 5.25 | 01/01/2050 | 2,000,000.00 | 2,139,581.00 | 0.24 |
| 646140JF1 | NEW Jersey Turnpike Authority | NJSTRN | 5.25 | 01/01/2055 | 2,000,000.00 | 2,129,008.00 | 0.24 |
| 64972JTU2 | NEW York City Transitional Finance Autho | NYCGEN | 5.5 | 05/01/2053 | 2,000,000.00 | 2,168,788.00 | 0.24 |
| 71885FDK0 | Industrial Development Authority Of The | PHOEDU | 5.0 | 07/01/2044 | 2,250,000.00 | 2,152,852.00 | 0.24 |
| 73360CAS3 | PORT Of Beaumont Navigation District | PTBTRN | 10.0 | 07/01/2026 | 2,000,000.00 | 2,010,466.00 | 0.23 |
| 68450LJQ9 | Orange County Health Facilities Authorit | ORAMED | 5.25 | 10/01/2056 | 2,000,000.00 | 2,073,656.00 | 0.23 |
| 650116CE4 | NEW York Transportation Development Corp | NYTTRN | 5.0 | 01/01/2026 | 2,000,000.00 | 2,004,482.00 | 0.23 |
| 64578CBU4 | NEW Jersey Economic Development Authorit | NJSDEV | 5.5 | 06/01/2033 | 2,000,000.00 | 2,001,677.00 | 0.23 |
| 63608TAV2 | NEW Hampshire Business Finance Authority | NFAGEN | — | 12/15/2033 | 3,360,000.00 | 2,065,791.00 | 0.23 |
| 56681NAN7 | Maricopa County Industrial Development A | MAREDU | 5.0 | 07/01/2035 | 2,000,000.00 | 2,007,080.00 | 0.23 |
| 4423487S1 | CITY Of Houston Tx Airport System Revenu | HOUAPT | 5.0 | 07/15/2035 | 2,000,000.00 | 2,000,871.00 | 0.23 |
| 41154VAK5 | Harbor Point Infrastructure Improvement | HRBIMP | 5.0 | 04/01/2039 | 2,000,000.00 | 2,026,832.00 | 0.23 |
| 4521525Q0 | State Of Illinois | ILS | 4.0 | 11/01/2035 | 2,000,000.00 | 2,008,417.00 | 0.23 |
| 45528U6Y2 | Indianapolis Local Public Improvement Bo | INPGEN | 6.13 | 03/01/2057 | 2,000,000.00 | 2,085,682.00 | 0.23 |
| 3137HASR8 | Freddie Mac Multifamily Ml Certificates | FRETE | 1.5 | 09/01/2037 | 19,376,047.00 | 2,031,733.00 | 0.23 |
| 25483VVQ4 | District Of Columbia | DISREV | 5.0 | 07/01/2054 | 2,150,000.00 | 2,059,578.00 | 0.23 |
| 167593X98 | Chicago O'hare International Airport | CHITRN | 5.5 | 01/01/2053 | 2,000,000.00 | 2,071,354.00 | 0.23 |
| 190782AS1 | Development Authority Of Cobb County/the | COBEDU | 6.25 | 06/01/2064 | 2,000,000.00 | 2,050,269.00 | 0.23 |
| 74448FAA9 | Public Finance Authority | PUBMFH | 6.81 | 04/28/2036 | 2,000,000.00 | 2,045,547.00 | 0.23 |
| 74528LAC5 | Puerto Rico Industrial Tourist Education | PRCPOL | 6.75 | 01/01/2045 | 1,750,000.00 | 1,971,239.00 | 0.22 |
| 74442PL86 | Public Finance Authority | PUBGEN | 5.0 | 12/15/2036 | 1,910,328.00 | 1,908,943.00 | 0.22 |
| 97712JDT7 | Wisconsin Health & Educational Facilitie | WISMED | 4.0 | 12/01/2056 | 3,100,000.00 | 1,912,449.00 | 0.22 |
| 05786PAB9 | Baldwin County Industrial Development Au | BLWPOL | 4.63 | 06/01/2055 | 2,000,000.00 | 1,996,054.00 | 0.22 |
| 04052BRH9 | Arizona Industrial Development Authority | AZSEDU | 4.5 | 07/15/2029 | 2,000,000.00 | 1,941,544.00 | 0.22 |
| 34061UNJ3 | Florida Development Finance Corp | FLSDEV | 6.0 | 06/15/2055 | 2,000,000.00 | 1,994,675.00 | 0.22 |
| 20775DYW6 | Connecticut State Health & Educational F | CTSHGR | 5.38 | 07/01/2054 | 2,005,000.00 | 1,952,615.00 | 0.22 |
| 2322655S3 | County Of Cuyahoga Oh | CUYMED | 5.25 | 02/15/2047 | 2,000,000.00 | 1,956,958.00 | 0.22 |
| 474548AC8 | Jefferson Parish Economic Development & | JEFDEV | 5.63 | 06/15/2048 | 2,000,000.00 | 1,926,989.00 | 0.22 |
| 59807PAF2 | Midtown Miami Community Development Dist | MDTDEV | 5.0 | 05/01/2037 | 1,980,000.00 | 1,978,118.00 | 0.22 |
| 55374SAB6 | M-s-r Energy Authority | MSRPWR | 7.0 | 11/01/2034 | 1,650,000.00 | 1,995,685.00 | 0.22 |
| 64613CEV6 | NEW Jersey Transportation Trust Fund Aut | NJSTRN | 5.25 | 06/15/2041 | 1,815,000.00 | 1,982,691.00 | 0.22 |
| 66585VBX2 | Northern Tobacco Securitization Corp | NRTFAC | 4.0 | 06/01/2041 | 2,000,000.00 | 1,884,697.00 | 0.21 |
| 70342PAN4 | Patriots Energy Group Financing Agency | PEGUTL | 5.25 | 10/01/2054 | 1,675,000.00 | 1,821,354.00 | 0.21 |
| 524309AC5 | CITY Of Lees Summit Mo | LEEGEN | 4.88 | 11/01/2037 | 2,000,000.00 | 1,823,573.00 | 0.21 |
| 499527DD8 | KNOX County Health Educational & Housing | KNOMED | 4.0 | 11/15/2048 | 2,170,000.00 | 1,884,387.00 | 0.21 |
| 63607WAV6 | NEW Hampshire Business Finance Authority | NFA | 0.6 | 08/01/2039 | 46,089,521.00 | 1,820,250.00 | 0.21 |
| 60637AHZ8 | Health & Educational Facilities Authorit | MOSMED | 4.0 | 01/01/2045 | 2,010,000.00 | 1,820,712.00 | 0.21 |
| 63607WBP8 | NEW Hampshire Business Finance Authority | NFA | 4.22 | 11/01/2042 | 1,998,387.00 | 1,840,212.00 | 0.21 |
| 34061ULK2 | Florida Development Finance Corp | FLSDEV | 6.0 | 08/15/2057 | 2,000,000.00 | 1,901,399.00 | 0.21 |
| 353187BS5 | County Of Franklin Oh | FRAMED | 4.0 | 11/01/2045 | 2,000,000.00 | 1,892,554.00 | 0.21 |
| 01068LAU4 | Alachua County Housing Finance Authority | ALAMFH | 4.9 | 07/01/2029 | 1,850,000.00 | 1,858,928.00 | 0.21 |
| 121342PM5 | Development Authority Of Burke County/th | BURPOL | 4.13 | 11/01/2045 | 2,000,000.00 | 1,826,003.00 | 0.21 |
| 82170LAB1 | Shelby County Health & Educational Facil | SHEHSG | 5.25 | 06/01/2056 | 2,000,000.00 | 1,874,384.00 | 0.21 |
| 93978TS59 | Washington State Housing Finance Commiss | WSHFC | 3.5 | 12/01/2035 | 1,867,111.00 | 1,798,885.00 | 0.20 |
| 04780MX87 | CITY Of Atlanta Ga Department Of Aviatio | ATLAPT | 5.25 | 07/01/2049 | 1,750,000.00 | 1,813,500.00 | 0.20 |
| 19645UTM6 | Colorado Educational & Cultural Faciliti | COSEDU | 4.25 | 01/15/2064 | 2,000,000.00 | 1,736,790.00 | 0.20 |
| 64971XFY9 | NEW York City Transitional Finance Autho | NYCGEN | 3.7 | 08/01/2045 | 1,800,000.00 | 1,800,000.00 | 0.20 |
| 66585VBY0 | Northern Tobacco Securitization Corp | NRTFAC | 4.0 | 06/01/2050 | 2,000,000.00 | 1,659,735.00 | 0.19 |
| 74442EBX7 | Public Finance Authority | PUBEDU | 5.13 | 06/15/2047 | 2,000,000.00 | 1,668,959.00 | 0.19 |
| 6459182H5 | NEW Jersey Economic Development Authorit | NJSDEV | 6.0 | 10/01/2043 | 1,700,000.00 | 1,703,899.00 | 0.19 |
| 646080ZG9 | NEW Jersey Higher Education Student Assi | NJSHGR | 5.0 | 12/01/2033 | 1,550,000.00 | 1,662,103.00 | 0.19 |
| 646080ZH7 | NEW Jersey Higher Education Student Assi | NJSHGR | 5.0 | 12/01/2034 | 1,550,000.00 | 1,650,953.00 | 0.19 |
| 59447TL76 | Michigan Finance Authority | MISFIN | 4.0 | 06/01/2049 | 2,000,000.00 | 1,679,814.00 | 0.19 |
| 13048VXK9 | California Municipal Finance Authority | CASFIN | 4.0 | 10/01/2049 | 2,000,000.00 | 1,689,826.00 | 0.19 |
| 006114AD4 | Adams County General Authority | ADMGEN | 5.0 | 06/01/2054 | 1,750,000.00 | 1,651,129.00 | 0.19 |
| 3137H9JP5 | Freddie Mac Multifamily Ml Certificates | FRETE | 0.96 | 07/01/2036 | 31,901,595.00 | 1,715,221.00 | 0.19 |
| 34061UFC7 | Florida Development Finance Corp | FLSDEV | 5.0 | 09/15/2050 | 2,000,000.00 | 1,729,168.00 | 0.19 |
| 29414WAA6 | EP Tuscany Zaragosa Pfc | EPTMFH | 4.0 | 12/01/2033 | 1,635,000.00 | 1,643,252.00 | 0.19 |
| 442349HY5 | CITY Of Houston Tx Airport System Revenu | HOUAPT | 5.5 | 07/15/2038 | 1,600,000.00 | 1,714,626.00 | 0.19 |
| 899661EN8 | Tulsa Municipal Airport Trust Trustees/o | TULAPT | 6.25 | 12/01/2040 | 1,500,000.00 | 1,649,684.00 | 0.19 |
| 837123HN1 | South Carolina Ports Authority | SCSTRN | 4.0 | 07/01/2055 | 2,000,000.00 | 1,664,877.00 | 0.19 |
| 85950TAA5 | Sterling Ranch Community Authority Board | STRDEV | 5.63 | 12/01/2043 | 1,700,000.00 | 1,712,415.00 | 0.19 |
| 74528LAD3 | Puerto Rico Industrial Tourist Education | PRCPOL | 6.75 | 01/01/2046 | 1,515,000.00 | 1,698,306.00 | 0.19 |
| 74514L3H8 | Commonwealth Of Puerto Rico | PRC | 5.63 | 07/01/2029 | 1,479,916.00 | 1,586,537.00 | 0.18 |
| 79766DWV7 | SAN Francisco City & County Airport Comm | SFOAPT | 5.25 | 05/01/2043 | 1,500,000.00 | 1,561,388.00 | 0.18 |
| 92415TCB6 | Vermont Economic Development Authority | VTSDEV | 4.0 | 05/01/2045 | 2,025,000.00 | 1,624,537.00 | 0.18 |
| 92707VAP9 | Village Community Development District N | VILDEV | 4.0 | 05/01/2036 | 1,615,000.00 | 1,556,838.00 | 0.18 |
| 92708JAE0 | Village Community Development District N | VILDEV | 5.5 | 05/01/2053 | 1,575,000.00 | 1,607,201.00 | 0.18 |
| 92774NBC3 | Virginia Beach Development Authority | VBHDEV | 7.0 | 09/01/2059 | 1,500,000.00 | 1,628,929.00 | 0.18 |
| 45202HAM5 | Illinois Finance Authority | ILSPOL | 7.25 | 09/01/2052 | 1,500,000.00 | 1,609,031.00 | 0.18 |
| 481367BR0 | Julington Creek Plantation Community Dev | JULDEV | 4.63 | 05/01/2054 | 1,550,000.00 | 1,492,997.00 | 0.17 |
| 499526BK6 | KNOX County Health Educational & Housing | KNOMED | 5.25 | 07/01/2064 | 1,500,000.00 | 1,528,608.00 | 0.17 |
| 4423485T1 | CITY Of Houston Tx Airport System Revenu | HOUAPT | 6.63 | 07/15/2038 | 1,500,000.00 | 1,502,008.00 | 0.17 |
| 25483VXQ2 | District Of Columbia | DISREV | 5.0 | 06/01/2040 | 1,500,000.00 | 1,522,152.00 | 0.17 |
| 167510AA4 | Chicago Board Of Education Dedicated Cap | CHIEDU | 6.0 | 04/01/2046 | 1,500,000.00 | 1,522,181.00 | 0.17 |
| 167562TM9 | Chicago Midway International Airport | CHIAPT | 5.0 | 01/01/2041 | 1,500,000.00 | 1,539,508.00 | 0.17 |
| 167505RM0 | Chicago Board Of Education | CHIEDU | 7.0 | 12/01/2046 | 1,500,000.00 | 1,523,185.00 | 0.17 |
| 57585BMX3 | Massachusetts Development Finance Agency | MASDEV | 5.25 | 06/01/2065 | 1,500,000.00 | 1,522,276.00 | 0.17 |
| 54640TAK5 | Louisiana Public Facilities Authority | LASFAC | 5.0 | 10/01/2043 | 1,500,000.00 | 1,501,828.00 | 0.17 |
| 64577QAF8 | NEW Jersey Economic Development Authorit | NJSDEV | 5.0 | 06/15/2037 | 1,500,000.00 | 1,500,083.00 | 0.17 |
| 74442PD28 | Public Finance Authority | PUBGEN | 5.5 | 11/15/2032 | 1,500,000.00 | 1,487,535.00 | 0.17 |
| 70342PAR5 | Patriots Energy Group Financing Agency | PEGUTL | 5.25 | 02/01/2054 | 1,500,000.00 | 1,552,382.00 | 0.17 |
| 700387DM2 | PARK Creek Metropolitan District | PKCGEN | 5.0 | 12/01/2045 | 1,500,000.00 | 1,479,232.00 | 0.17 |
| 928104NC8 | Virginia Small Business Financing Author | VASDEV | 4.0 | 01/01/2051 | 1,750,000.00 | 1,487,345.00 | 0.17 |
| 76827QKX0 | River Islands Public Financing Authority | RVIGEN | 4.5 | 09/01/2044 | 1,650,000.00 | 1,524,018.00 | 0.17 |
| 74443CAC7 | Public Finance Authority | PUBFAC | 5.0 | 07/01/2042 | 1,500,000.00 | 1,480,468.00 | 0.17 |
| 74447TAG7 | Public Finance Authority | PUBFAC | 5.75 | 12/15/2033 | 1,500,000.00 | 1,497,846.00 | 0.17 |
| 97712JHF3 | Wisconsin Health & Educational Facilitie | WISMED | 5.0 | 08/01/2027 | 1,400,000.00 | 1,407,106.00 | 0.16 |
| 93515PEM5 | County Of Warren Oh | WARMED | 5.0 | 07/01/2054 | 1,500,000.00 | 1,455,107.00 | 0.16 |
| 70869PPE1 | Pennsylvania Economic Development Financ | PASDEV | 5.25 | 07/01/2046 | 1,430,000.00 | 1,443,233.00 | 0.16 |
| 64972JTV0 | NEW York City Transitional Finance Autho | NYCGEN | 5.25 | 05/01/2055 | 1,380,000.00 | 1,457,765.00 | 0.16 |
| 63608TAA8 | NEW Hampshire Business Finance Authority | NFAGEN | 4.88 | 12/01/2033 | 1,400,000.00 | 1,400,400.00 | 0.16 |
| 60733UAA9 | Mobile County Industrial Development Aut | MOBPOL | 5.0 | 06/01/2054 | 1,500,000.00 | 1,435,281.00 | 0.16 |
| 544532PR9 | LOS Angeles Department Of Water & Power | LOSUTL | 5.25 | 07/01/2044 | 1,350,000.00 | 1,449,160.00 | 0.16 |
| 04052BLS1 | Arizona Industrial Development Authority | AZSEDU | 4.0 | 07/15/2050 | 1,850,000.00 | 1,461,255.00 | 0.16 |
| 041807DW5 | Arlington Higher Education Finance Corp | ARLEDU | 6.13 | 02/15/2053 | 1,500,000.00 | 1,400,596.00 | 0.16 |
| 25483VXS8 | District Of Columbia | DISREV | 5.0 | 06/01/2055 | 1,500,000.00 | 1,425,941.00 | 0.16 |
| 249182QR0 | CITY & County Of Denver Co Airport Syste | DENAPT | 5.5 | 11/15/2040 | 1,270,000.00 | 1,373,224.00 | 0.15 |
| 041806L65 | Arlington Higher Education Finance Corp | ARLEDU | 4.0 | 08/15/2041 | 1,520,000.00 | 1,301,389.00 | 0.15 |
| 524292BP3 | LEES Summit Industrial Development Autho | LEEFAC | 4.33 | 08/15/2047 | 1,385,000.00 | 1,375,321.00 | 0.15 |
| 649852AS9 | NEW York State Environmental Facilities | NYSENV | 4.25 | 09/01/2050 | 1,310,000.00 | 1,322,415.00 | 0.15 |
| 74440DEC4 | Kentucky Public Energy Authority | KYSPWR | 5.25 | 04/01/2054 | 1,250,000.00 | 1,360,160.00 | 0.15 |
| 74442PPU3 | Public Finance Authority | PUBGEN | 5.0 | 01/01/2055 | 1,600,000.00 | 1,344,169.00 | 0.15 |
| 74442PJV8 | Public Finance Authority | PUBGEN | 6.38 | 01/01/2048 | 3,000,000.00 | 1,350,000.00 | 0.15 |
| 74442PTG0 | Public Finance Authority | PUBGEN | 4.0 | 03/31/2056 | 1,750,000.00 | 1,357,105.00 | 0.15 |
| 74514L3R6 | Commonwealth Of Puerto Rico | PRC | — | 07/01/2033 | 1,825,625.00 | 1,300,608.00 | 0.15 |
| 837123GL6 | South Carolina Ports Authority | SCSTRN | 4.0 | 07/01/2045 | 1,500,000.00 | 1,349,728.00 | 0.15 |
| 751814AA2 | CITY Of Ramsey Mn | RAMEDU | 5.0 | 06/01/2032 | 1,250,000.00 | 1,246,901.00 | 0.14 |
| 882667CK2 | Texas Private Activity Bond Surface Tran | TXSTRN | 5.5 | 06/30/2041 | 1,190,000.00 | 1,257,318.00 | 0.14 |
| 74448EAA2 | Public Finance Authority | PUBGEN | 5.0 | 06/01/2041 | 1,250,000.00 | 1,253,825.00 | 0.14 |
| 74444VBV1 | Public Finance Authority | PUBFIN | 4.0 | 10/01/2051 | 1,500,000.00 | 1,225,380.00 | 0.14 |
| 922907746 | Vanguard Tax-exempt Bond Index Etf | VTEB | — | — | 25,000.00 | 1,251,750.00 | 0.14 |
| 605279MK1 | Mississippi Business Finance Corp | MSSDEV | 2.38 | 06/01/2044 | 2,000,000.00 | 1,271,535.00 | 0.14 |
| 63607WAR5 | NEW Hampshire Business Finance Authority | NFADEV | 0.55 | 07/01/2051 | 34,394,595.00 | 1,254,264.00 | 0.14 |
| 63608TAE0 | NEW Hampshire Business Finance Authority | NFAGEN | 5.3 | 12/01/2032 | 1,245,000.00 | 1,245,848.00 | 0.14 |
| 63608TAF7 | NEW Hampshire Business Finance Authority | NFAGEN | 5.0 | 12/01/2028 | 1,250,000.00 | 1,250,213.00 | 0.14 |
| 63610FBL9 | NEW Hampshire Business Finance Authority | NFADEV | 5.25 | 06/01/2051 | 1,225,000.00 | 1,271,925.00 | 0.14 |
| 041807FF0 | Arlington Higher Education Finance Corp | ARLEDU | 5.0 | 08/15/2048 | 1,250,000.00 | 1,272,592.00 | 0.14 |
| 12008ESB3 | Build Nyc Resource Corp | BUIGEN | 5.0 | 06/01/2051 | 1,500,000.00 | 1,197,588.00 | 0.13 |
| 444584AK2 | CITY Of Hugo Mn | HUGEDU | 5.0 | 07/01/2044 | 1,250,000.00 | 1,179,050.00 | 0.13 |
| 74440W862 | (pipa070) Pgim Core Government Money Mar | — | 4.23 | 12/01/2099 | 1,194,985.00 | 1,194,985.00 | 0.13 |
| 74442ECB4 | Public Finance Authority | PUBEDU | 5.0 | 07/01/2047 | 1,200,000.00 | 1,143,871.00 | 0.13 |
| 928104NX2 | Virginia Small Business Financing Author | VASDEV | 4.0 | 01/01/2039 | 1,250,000.00 | 1,187,681.00 | 0.13 |
| 79041LAP3 | ST Johns County Industrial Development A | STJMED | 4.0 | 12/15/2046 | 1,500,000.00 | 1,171,347.00 | 0.13 |
| 790103AV7 | Parish Of St James La | STJGEN | 6.35 | 07/01/2040 | 1,000,000.00 | 1,076,202.00 | 0.12 |
| 87638RFP7 | Tarrant County Cultural Education Facili | TAREDU | 5.0 | 11/15/2040 | 1,100,000.00 | 1,100,013.00 | 0.12 |
| 74442PVC6 | Public Finance Authority | PUBGEN | 3.0 | 07/01/2050 | 1,500,000.00 | 1,108,650.00 | 0.12 |
| 74514L3P0 | Commonwealth Of Puerto Rico | PRC | 4.0 | 07/01/2046 | 1,210,119.00 | 1,042,413.00 | 0.12 |
| 74514L3K1 | Commonwealth Of Puerto Rico | PRC | 4.0 | 07/01/2033 | 1,109,348.00 | 1,091,984.00 | 0.12 |
| 74514L3L9 | Commonwealth Of Puerto Rico | PRC | 4.0 | 07/01/2035 | 1,129,156.00 | 1,093,505.00 | 0.12 |
| 92708HAM6 | Village Community Development District N | VILDEV | 2.55 | 05/01/2031 | 1,185,000.00 | 1,104,406.00 | 0.12 |
| 944514U89 | Wayne County Airport Authority | WAYAPT | 5.75 | 12/01/2050 | 1,000,000.00 | 1,079,578.00 | 0.12 |
| 92708EAC5 | Village Community Development District N | VILDEV | 4.5 | 05/01/2045 | 1,220,000.00 | 1,065,066.00 | 0.12 |
| 92028RAD7 | CITY Of Valparaiso In | VLPFAC | 4.5 | 01/01/2034 | 1,055,000.00 | 1,097,798.00 | 0.12 |
| 896032BD0 | Triborough Bridge & Tunnel Authority | TRBGEN | 5.5 | 12/01/2059 | 1,000,000.00 | 1,071,534.00 | 0.12 |
| 93978HKJ3 | Washington Health Care Facilities Author | WASMED | 5.0 | 07/01/2038 | 1,100,000.00 | 1,100,202.00 | 0.12 |
| 744396KH4 | Public Finance Authority | PUBEDU | 5.0 | 07/01/2060 | 1,200,000.00 | 1,065,745.00 | 0.12 |
| 70252AAX3 | County Of Pasco Fl | PASGEN | 5.75 | 09/01/2054 | 1,000,000.00 | 1,068,282.00 | 0.12 |
| 650116CW4 | NEW York Transportation Development Corp | NYTTRN | 5.38 | 08/01/2036 | 1,000,000.00 | 1,034,793.00 | 0.12 |
| 64577QAG6 | NEW Jersey Economic Development Authorit | NJSDEV | 5.13 | 06/15/2043 | 1,100,000.00 | 1,063,966.00 | 0.12 |
| 646080YV7 | NEW Jersey Higher Education Student Assi | NJSHGR | 5.0 | 12/01/2034 | 1,000,000.00 | 1,068,914.00 | 0.12 |
| 54640TAL3 | Louisiana Public Facilities Authority | LASFAC | 6.75 | 10/01/2053 | 1,000,000.00 | 1,076,842.00 | 0.12 |
| 54640TAM1 | Louisiana Public Facilities Authority | LASFAC | 6.5 | 10/01/2053 | 1,000,000.00 | 1,070,361.00 | 0.12 |
| 51265KFJ2 | Lakewood Ranch Stewardship District | LKRGEN | 6.3 | 05/01/2054 | 1,000,000.00 | 1,041,880.00 | 0.12 |
| 51265KAW8 | Lakewood Ranch Stewardship District | LKRGEN | 5.13 | 05/01/2046 | 1,100,000.00 | 1,057,071.00 | 0.12 |
| 45201QCY8 | Illinois Educational Facilities Authorit | ILSEDU | 4.45 | 11/01/2036 | 1,075,000.00 | 1,083,140.00 | 0.12 |
| 414189AK6 | Harris County Industrial Development Cor | HARTRN | 4.05 | 11/01/2050 | 1,000,000.00 | 1,024,414.00 | 0.12 |
| 452153KA6 | State Of Illinois | ILS | 5.25 | 05/01/2043 | 1,000,000.00 | 1,056,644.00 | 0.12 |
| 249182VE3 | CITY & County Of Denver Co Airport Syste | DENAPT | 5.5 | 11/15/2043 | 1,000,000.00 | 1,081,173.00 | 0.12 |
| 2510936E5 | CITY Of Detroit Mi | DET | 6.0 | 05/01/2043 | 1,000,000.00 | 1,091,752.00 | 0.12 |
| 295095BC6 | ERIE Tobacco Asset Securitization Corp | ERIGEN | — | 06/01/2047 | 5,000,000.00 | 1,099,056.00 | 0.12 |
| 13078RGJ3 | California Statewide Communities Develop | CASDEV | 5.0 | 05/15/2040 | 1,030,000.00 | 1,031,621.00 | 0.12 |
| 04780MX79 | CITY Of Atlanta Ga Department Of Aviatio | ATLAPT | 5.25 | 07/01/2044 | 1,000,000.00 | 1,053,332.00 | 0.12 |
| 155498FP8 | Central Texas Regional Mobility Authorit | CTXGEN | 4.0 | 01/01/2041 | 1,100,000.00 | 1,050,609.00 | 0.12 |
| 1675934E9 | Chicago O'hare International Airport | CHITRN | 5.25 | 01/01/2042 | 1,000,000.00 | 1,053,018.00 | 0.12 |
| 1675934F6 | Chicago O'hare International Airport | CHITRN | 5.25 | 01/01/2043 | 1,000,000.00 | 1,046,029.00 | 0.12 |
| 1675934P4 | Chicago O'hare International Airport | CHITRN | 5.25 | 01/01/2043 | 1,000,000.00 | 1,043,379.00 | 0.12 |
| 19645RB42 | Colorado Educational & Cultural Faciliti | COSEDU | 5.0 | 12/15/2045 | 1,000,000.00 | 967,813.00 | 0.11 |
| 167590FA1 | Chicago O'hare International Airport | CHITRN | 5.0 | 07/01/2048 | 1,000,000.00 | 964,228.00 | 0.11 |
| 16532RAS2 | CITY Of Chesapeake Va Chesapeake Express | CHETRN | 4.88 | 07/15/2040 | 1,000,000.00 | 1,015,118.00 | 0.11 |
| 167505QP4 | Chicago Board Of Education | CHIEDU | 5.25 | 12/01/2035 | 1,015,000.00 | 1,015,201.00 | 0.11 |
| 04052BAN4 | Arizona Industrial Development Authority | AZSEDU | 5.38 | 07/01/2050 | 1,000,000.00 | 949,251.00 | 0.11 |
| 34061UFY9 | Florida Development Finance Corp | FLSDEV | 5.0 | 06/15/2055 | 1,000,000.00 | 934,769.00 | 0.11 |
| 29416AAA2 | EP Essential Housing Wf Pfc | EPEHSG | 4.25 | 12/01/2034 | 1,000,000.00 | 1,014,508.00 | 0.11 |
| 240471PE6 | Dekalb County Housing Authority | DEKMFH | 4.0 | 03/01/2034 | 1,000,000.00 | 997,552.00 | 0.11 |
| 246372BC9 | Delaware State Economic Development Auth | DESEDU | 4.0 | 06/01/2052 | 1,250,000.00 | 965,335.00 | 0.11 |
| 51265KAT5 | Lakewood Ranch Stewardship District | LKRGEN | 4.88 | 05/01/2045 | 1,000,000.00 | 938,568.00 | 0.11 |
| 51265KBB3 | Lakewood Ranch Stewardship District | LKRGEN | 5.38 | 05/01/2047 | 1,000,000.00 | 990,496.00 | 0.11 |
| 51265KBT4 | Lakewood Ranch Stewardship District | LKRGEN | 5.45 | 05/01/2048 | 1,000,000.00 | 995,723.00 | 0.11 |
| 52349EER7 | LEE County Industrial Development Author | LEEMED | 4.75 | 11/15/2029 | 1,000,000.00 | 1,008,216.00 | 0.11 |
| 56042CAZ8 | Finance Authority Of Maine | MESPOL | 5.0 | 08/01/2035 | 1,000,000.00 | 1,016,358.00 | 0.11 |
| 56681NAT4 | Maricopa County Industrial Development A | MAREDU | 5.0 | 07/01/2047 | 1,000,000.00 | 941,128.00 | 0.11 |
| 60635H3C1 | Health & Educational Facilities Authorit | MOSMED | 4.0 | 02/01/2042 | 1,115,000.00 | 957,528.00 | 0.11 |
| 65821DTH4 | North Carolina Medical Care Commission | NCSMED | 5.0 | 10/01/2035 | 1,000,000.00 | 1,000,803.00 | 0.11 |
| 67759YAQ0 | State Of Ohio | OHSGEN | 5.0 | 06/30/2053 | 1,000,000.00 | 979,142.00 | 0.11 |
| 650116CK0 | NEW York Transportation Development Corp | NYTTRN | 5.0 | 01/01/2031 | 1,000,000.00 | 1,019,604.00 | 0.11 |
| 735385AC0 | PORT Of Seattle Industrial Development C | PTSDEV | 5.0 | 04/01/2030 | 1,000,000.00 | 1,000,350.00 | 0.11 |
| 72818QAX1 | Plaza Metropolitan District No 1 | PLZGEN | 5.0 | 12/01/2040 | 1,000,000.00 | 986,925.00 | 0.11 |
| 74442PCQ6 | Public Finance Authority | PUBGEN | 5.13 | 06/01/2048 | 1,000,000.00 | 948,506.00 | 0.11 |
| 744396JZ6 | Public Finance Authority | PUBEDU | 5.25 | 06/15/2054 | 1,000,000.00 | 1,002,304.00 | 0.11 |
| 899530BA6 | Tulsa County Industrial Authority | TULIND | 5.25 | 11/15/2045 | 1,025,000.00 | 984,779.00 | 0.11 |
| 92028RAF2 | CITY Of Valparaiso In | VLPFAC | 5.0 | 01/01/2054 | 1,000,000.00 | 956,063.00 | 0.11 |
| 939783Q74 | Washington State Housing Finance Commiss | WASHSG | 5.0 | 07/01/2048 | 1,000,000.00 | 973,703.00 | 0.11 |
| 928104QL5 | Virginia Small Business Financing Author | VASDEV | 5.0 | 12/31/2057 | 1,000,000.00 | 980,682.00 | 0.11 |
| 74514L3N5 | Commonwealth Of Puerto Rico | PRC | 4.0 | 07/01/2041 | 1,163,593.00 | 1,011,302.00 | 0.11 |
| 87972MBD3 | Tempe Industrial Development Authority | TEMDEV | 5.0 | 12/01/2050 | 1,045,000.00 | 932,896.00 | 0.11 |
| 873816AR3 | Tahoe-douglas Visitors Authority | TADDEV | 5.0 | 07/01/2040 | 1,000,000.00 | 1,011,824.00 | 0.11 |
| 791524BU4 | ST Louis County Industrial Development A | STLDEV | 5.88 | 09/01/2043 | 1,000,000.00 | 1,000,601.00 | 0.11 |
| 79307RAB0 | ST Paul Port Authority | STPPOL | 4.5 | 10/01/2037 | 1,000,000.00 | 962,010.00 | 0.11 |
| 773008AR8 | Development Authority Of Rockdale County | ROCDEV | 4.0 | 01/01/2038 | 1,000,000.00 | 996,288.00 | 0.11 |
| 786071RC6 | CITY Of Sacramento Ca | SACGEN | 4.0 | 09/01/2050 | 1,000,000.00 | 849,347.00 | 0.10 |
| 85950NAM2 | Sterling Ranch Community Authority Board | STRDEV | 4.25 | 12/01/2050 | 1,000,000.00 | 890,188.00 | 0.10 |
| 92708HAK0 | Village Community Development District N | VILDEV | 3.5 | 05/01/2051 | 1,165,000.00 | 873,411.00 | 0.10 |
| 91282CLP4 | United States Treasury Note/bond | T | 3.5 | 09/30/2026 | 905,000.00 | 903,126.00 | 0.10 |
| 880397CF9 | Tennergy Corp/tn | TGYPWR | 5.5 | 10/01/2053 | 850,000.00 | 909,236.00 | 0.10 |
| 92415TCA8 | Vermont Economic Development Authority | VTSDEV | 4.0 | 05/01/2037 | 1,000,000.00 | 901,454.00 | 0.10 |
| 922687AH1 | CITY Of Venice Fl | VEN | 4.25 | 01/01/2030 | 900,000.00 | 889,433.00 | 0.10 |
| 738222AF5 | Pottsboro Higher Education Finance Corp | PTDHGR | 5.0 | 08/15/2046 | 1,000,000.00 | 923,512.00 | 0.10 |
| 71885FDP9 | Industrial Development Authority Of The | PHOEDU | 5.0 | 07/01/2045 | 1,000,000.00 | 928,097.00 | 0.10 |
| 71885FEB9 | Industrial Development Authority Of The | PHOEDU | 5.0 | 07/01/2046 | 1,000,000.00 | 920,739.00 | 0.10 |
| 64971PKL8 | NEW York City Industrial Development Age | NYCDEV | 4.0 | 03/01/2045 | 1,000,000.00 | 881,796.00 | 0.10 |
| 67754AAE4 | OHIO Air Quality Development Authority | OHSDEV | 4.5 | 01/15/2048 | 1,000,000.00 | 908,225.00 | 0.10 |
| 63607WBE3 | NEW Hampshire Business Finance Authority | NFADEV | 4.17 | 01/20/2041 | 995,700.00 | 905,799.00 | 0.10 |
| 57585BBU1 | Massachusetts Development Finance Agency | MASDEV | 5.0 | 07/01/2060 | 1,000,000.00 | 898,170.00 | 0.10 |
| 19648FSV7 | Colorado Health Facilities Authority | COSMED | 4.0 | 01/01/2042 | 1,000,000.00 | 855,741.00 | 0.10 |
| 469400EL5 | CITY Of Jacksonville Fl | JACMED | 4.0 | 11/01/2045 | 1,000,000.00 | 869,256.00 | 0.10 |
| 35571LCE6 | County Of Frederick Md | FREGEN | 4.0 | 07/01/2050 | 975,000.00 | 851,960.00 | 0.10 |
| 14052WDN4 | Capital Trust Agency Inc | CPTGEN | 5.0 | 07/01/2056 | 1,000,000.00 | 889,225.00 | 0.10 |
| 12008HAC3 | Build Nyc Resource Corp | BUIUTL | 5.0 | 01/01/2035 | 900,000.00 | 900,204.00 | 0.10 |
| 13016NEZ3 | California County Tobacco Securitization | CASGEN | 4.0 | 06/01/2049 | 1,000,000.00 | 857,312.00 | 0.10 |
| 16772PCC8 | Chicago Transit Authority Sales Tax Rece | CHITRN | 4.0 | 12/01/2050 | 1,000,000.00 | 893,396.00 | 0.10 |
| 19645RYX3 | Colorado Educational & Cultural Faciliti | COSEDU | 5.0 | 11/01/2044 | 885,000.00 | 884,951.00 | 0.10 |
| 167736U96 | CITY Of Chicago Il Waterworks Revenue | CHIWTR | 5.25 | 11/01/2053 | 750,000.00 | 773,575.00 | 0.09 |
| 118217CX4 | Buckeye Tobacco Settlement Financing Aut | BUCGEN | 4.0 | 06/01/2048 | 1,000,000.00 | 840,301.00 | 0.09 |
| 14052WBB2 | Capital Trust Agency Inc | CPTGEN | 5.35 | 07/01/2029 | 815,000.00 | 816,685.00 | 0.09 |
| 084220AC6 | County Of Berkeley Sc | BERGEN | 4.38 | 11/01/2049 | 1,000,000.00 | 835,548.00 | 0.09 |
| 378287BA3 | Glendale Industrial Development Authorit | GLEDEV | 5.0 | 05/15/2056 | 1,000,000.00 | 841,648.00 | 0.09 |
| 47029WED5 | James City County Economic Development A | JAMDEV | 4.0 | 12/01/2050 | 1,000,000.00 | 763,168.00 | 0.09 |
| 42727TAT7 | Heritage Ridge Metropolitan District | HRIFAC | 4.0 | 12/01/2051 | 850,000.00 | 765,443.00 | 0.09 |
| 51434NAT5 | Lancaster Industrial Development Authori | LANMED | 4.0 | 07/01/2056 | 1,000,000.00 | 782,231.00 | 0.09 |
| 51265KCX4 | Lakewood Ranch Stewardship District | LKRGEN | 4.0 | 05/01/2050 | 1,000,000.00 | 793,447.00 | 0.09 |
| 63607YAJ9 | NEW Hampshire Business Finance Authority | NFADEV | 3.75 | 07/01/2045 | 1,000,000.00 | 805,594.00 | 0.09 |
| 74442EEY2 | Public Finance Authority | PUBEDU | 5.0 | 06/15/2049 | 1,000,000.00 | 808,107.00 | 0.09 |
| 74442PJU0 | Public Finance Authority | PUBGEN | 6.25 | 01/01/2038 | 1,750,000.00 | 787,500.00 | 0.09 |
| 87972MBU5 | Tempe Industrial Development Authority | TEMDEV | 4.0 | 12/01/2056 | 1,000,000.00 | 755,175.00 | 0.09 |
| 74514L3M7 | Commonwealth Of Puerto Rico | PRC | 4.0 | 07/01/2037 | 855,822.00 | 804,740.00 | 0.09 |
| 74529JQF5 | Puerto Rico Sales Tax Financing Corp Sal | PRCGEN | — | 07/01/2033 | 1,000,000.00 | 742,345.00 | 0.08 |
| 92708HAE4 | Village Community Development District N | VILDEV | 3.7 | 05/01/2050 | 945,000.00 | 721,292.00 | 0.08 |
| 74442PD51 | Public Finance Authority | PUBGEN | 5.0 | 07/15/2030 | 704,783.00 | 712,773.00 | 0.08 |
| 64577XFB7 | NEW Jersey Economic Development Authorit | NJSDEV | 5.25 | 06/15/2039 | 675,000.00 | 746,562.00 | 0.08 |
| 59447TL92 | Michigan Finance Authority | MISFIN | 5.0 | 06/01/2049 | 680,000.00 | 673,666.00 | 0.08 |
| 246372BB1 | Delaware State Economic Development Auth | DESEDU | 4.0 | 06/01/2042 | 800,000.00 | 685,584.00 | 0.08 |
| 13059TBU2 | California School Finance Authority | CASSCD | 5.0 | 07/01/2045 | 750,000.00 | 750,122.00 | 0.08 |
| 51265KEN4 | Lakewood Ranch Stewardship District | LKRGEN | 4.0 | 05/01/2050 | 750,000.00 | 596,139.00 | 0.07 |
| 650116CV6 | NEW York Transportation Development Corp | NYTTRN | 5.25 | 08/01/2031 | 615,000.00 | 639,896.00 | 0.07 |
| 97712JDS9 | Wisconsin Health & Educational Facilitie | WISMED | 4.0 | 12/01/2051 | 1,000,000.00 | 645,538.00 | 0.07 |
| 888804CU3 | Tobacco Securitization Authority Of Sout | TOBGEN | — | 06/01/2054 | 3,000,000.00 | 583,665.00 | 0.07 |
| 786071RB8 | CITY Of Sacramento Ca | SACGEN | 4.0 | 09/01/2046 | 750,000.00 | 648,710.00 | 0.07 |
| 880397BW3 | Tennergy Corp/tn | TGYPWR | 4.0 | 12/01/2051 | 500,000.00 | 510,252.00 | 0.06 |
| 888794CA0 | Tobacco Securitization Authority Of Nort | TOBGEN | — | 06/01/2060 | 3,500,000.00 | 542,600.00 | 0.06 |
| 882667BV9 | Texas Private Activity Bond Surface Tran | TXSTRN | 4.0 | 06/30/2040 | 600,000.00 | 566,223.00 | 0.06 |
| 982707AA9 | Wyandotte County-kansas City Unified Gov | WYAGEN | 4.5 | 06/01/2040 | 585,000.00 | 571,410.00 | 0.06 |
| 65820YTA4 | North Carolina Medical Care Commission | NCSMED | 3.75 | 10/01/2028 | 525,000.00 | 525,177.00 | 0.06 |
| 649852AT7 | NEW York State Environmental Facilities | NYSENV | 5.13 | 09/01/2050 | 500,000.00 | 521,390.00 | 0.06 |
| 167505VB9 | Chicago Board Of Education | CHIEDU | 5.0 | 12/01/2035 | 500,000.00 | 505,560.00 | 0.06 |
| 167505WK8 | Chicago Board Of Education | CHIEDU | 4.0 | 12/01/2027 | 500,000.00 | 502,591.00 | 0.06 |
| 13016NFC3 | California County Tobacco Securitization | CASGEN | — | 06/01/2055 | 3,000,000.00 | 534,621.00 | 0.06 |
| 246387RS5 | Delaware State Economic Development Auth | DESDEV | 5.0 | 09/01/2046 | 500,000.00 | 485,968.00 | 0.05 |
| 34061UGR3 | Florida Development Finance Corp | FLSDEV | 4.0 | 07/01/2045 | 565,000.00 | 477,774.00 | 0.05 |
| 295095BD4 | ERIE Tobacco Asset Securitization Corp | ERIGEN | — | 06/01/2050 | 4,000,000.00 | 479,667.00 | 0.05 |
| 45567RAD2 | Indigo Community Development District | INDDEV | 5.75 | 05/01/2036 | 476,616.00 | 405,123.00 | 0.05 |
| 425099AB4 | CITY Of Henderson Ky | HENFAC | 4.7 | 01/01/2052 | 500,000.00 | 453,326.00 | 0.05 |
| 74442PCN3 | Public Finance Authority | PUBGEN | 5.0 | 06/01/2026 | 470,000.00 | 473,383.00 | 0.05 |
| 64542UFM1 | NEW Hope Cultural Education Facilities F | NHPFAC | 4.0 | 11/01/2049 | 500,000.00 | 413,448.00 | 0.05 |
| 92708HAD6 | Village Community Development District N | VILDEV | 3.55 | 05/01/2039 | 475,000.00 | 412,077.00 | 0.05 |
| 864809CC0 | Suffolk Tobacco Asset Securitization Cor | SFKSEC | 4.0 | 06/01/2050 | 395,000.00 | 353,771.00 | 0.04 |
| 75157WAC6 | Rampart Range Metropolitan District No 5 | RAMGEN | 4.0 | 12/01/2051 | 500,000.00 | 397,668.00 | 0.04 |
| 74443CAB9 | Public Finance Authority | PUBFAC | 5.25 | 07/01/2028 | 340,000.00 | 340,270.00 | 0.04 |
| 42727TAS9 | Heritage Ridge Metropolitan District | HRIFAC | 4.0 | 12/01/2042 | 350,000.00 | 332,021.00 | 0.04 |
| 45204E6G8 | Illinois Finance Authority | ILSGEN | 4.0 | 02/15/2041 | 265,000.00 | 270,718.00 | 0.03 |
| 17877SAL6 | Cityplace Community Development District | CTYDEV | 5.0 | 05/01/2026 | 270,000.00 | 273,066.00 | 0.03 |
| 67884XCF2 | Oklahoma Development Finance Authority | OKSMED | 5.0 | 08/15/2038 | 250,000.00 | 250,307.00 | 0.03 |
| 846562AD8 | CITY Of Sparks Nv | SPAGEN | 2.75 | 06/15/2028 | 275,000.00 | 274,434.00 | 0.03 |
| 688031FK4 | County Of Osceola Fl Transportation Reve | OSCTRN | — | 10/01/2054 | 1,000,000.00 | 209,506.00 | 0.02 |
| 51265KAZ1 | Lakewood Ranch Stewardship District | LKRGEN | 4.63 | 05/01/2027 | 200,000.00 | 201,337.00 | 0.02 |
| 154872AY1 | Central Plains Energy Project | CENPWR | 5.0 | 08/01/2055 | 150,000.00 | 162,212.00 | 0.02 |
| 533020EG4 | Lincoln Public Financing Authority | LINGEN | 6.0 | 09/02/2027 | 110,000.00 | 110,306.00 | 0.01 |
| 864809CD8 | Suffolk Tobacco Asset Securitization Cor | SFKSEC | — | 06/01/2066 | 1,000,000.00 | 80,378.00 | 0.01 |
| FVZ5 COMDT | US 5yr Note (cbt) Dec25 | FVZ5 | — | 12/31/2025 | 24,022,969.00 | -9,020.00 | 0.00 |
| WNZ5 COMDT | US Ultra Bond Cbt Dec25 | WNZ5 | — | 12/19/2025 | 720,375.00 | 16,914.00 | 0.00 |
| 130536RA5 | California Pollution Control Financing A | CASPOL | 8.0 | 07/01/2039 | 2,750,000.00 | 27,500.00 | 0.00 |
| 45204EU55 | Illinois Finance Authority | ILSGEN | 4.0 | 02/15/2041 | 10,000.00 | 10,215.00 | 0.00 |
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ABOUT
PGIM Fixed Income is the largest public fixed income asset management unit of PGIM, a registered investment advisor, and is responsible for Fund management. It is one of the most experienced fixed income managers in the United States, with $862 billion in assets under management as of March 31, 2025. Institutional assets include both external and proprietary portfolios. Asset class breakdown is based on company estimates. PGIM Fixed Income offers a disciplined investment and risk management process, in-depth sector expertise, and one of the most sophisticated research organizations in the industry. PGIM Fixed Income or one of its predecessors has been managing proprietary fixed income portfolios since 1875 and accounts for institutional clients since 1928. PGIM Limited is also a subadvisor on this fund. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States.
Jason Appleson, Robert Tipp, Lee Friedman, and John Dittemer of PGIM Fixed Income are responsible for the management of the PGIM Muni High Income Fund.
Jason Appleson, CFA
Managing Director and Head of PGIM Fixed Income's Municipal Bonds Team
Jason Appleson, CFA, FRM, is a Managing Director and Head of PGIM Fixed Income's Municipal Bond Team.
Robert Tipp, CFA
Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income
Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income.
Lee Friedman, CFA
Principal and Portfolio Manager for PGIM's Fixed Income's U.S. Investment Grade Corporate Bond Team
Lee Friedman, CFA, is a Principal and portfolio manager for PGIM Fixed Income’s U.S. Investment Grade Corporate Bond Team.
John Dittemer
Vice President and Portfolio Manager for PGIM Fixed Income's Municipal Bond Team
PGIM Fixed Income
John Dittemer is a Vice President and Portfolio Manager for PGIM Fixed Income's Municipal Bond Team.
AMT (Alternative Minimum Tax) is the percentage of bonds in portfolio subject to alternative minimum tax. Average Effective Maturity is a measure of maturity which takes into account the possibility of bonds being called prior to maturity. Average Maturity is the average time to maturity for a bond. Credit quality is calculated using the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, S&P, or Fitch. The Not Rated category consists of securities that have not been rated by an NRSRO. If only two rating agencies are used, the lower ratings are shown. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Standard deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Due to data availability, statistics may not be as of the current reporting period.
Enhanced cash strategies are variations on traditional money market vehicles. They are designed to provide liquidity and principal preservation, but with more of an emphasis on seeking returns that are superior to those of traditional money market offerings.
Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.
© 2025 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.
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Class R6 and Z shares may be available to group retirement plans and institutional investors through certain retirement, mutual fund wrap and asset allocation programs. They may also be available to institutional investors. Class Z shares may be available through fee- or commission-based retail brokerage programs of certain financial intermediaries. Class A, C, and Z shares are generally closed to new retirement plans. Please see the prospectus for additional information about fees, expenses, and investor eligibility.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
4341099 Ed. 04/2025
Fund Literature
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