Address And Details

1001 Liberty Ave. , Pittsburgh, PA 15222
Fund Manager J. Scott Albrecht
Manager Tenure 12 Years 10 Months

Strategy And Objective

The Fund's investment objective is to provide current income exempt from federal regular income tax (federal regular income tax does not include the federal alternative minimum tax (AMT)) and the personal income taxes imposed by the state of Ohio and Ohio municipalities. The Fund pursues its objective by investing in a portfolio of tax-exempt securities so that, normally, distributions of annual interest income are exempt from federal regular income tax and the personal income taxes imposed by the state of Ohio and Ohio municipalities. Interest income from the Fund's investments maybe subject to (or may be a specific preference item for purposes of) the federal AMT for individuals.The Fund will invest at least a majority of its assets in securities rated investment-grade (or unrated securities of comparable quality) and may purchase securities rated below investment-grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB(including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be rated in the first, second, third or fourth ratings category,respectively. Securities rated below investment-grade (or non investment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by Standard & Poor's, an NRSRO, would be non investment-grade securities. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund's investment parameters. The Fund does not have a specific minimum quality rating.The Fund does not limit itself to securities of a particular maturity range. Currently, at least a majority of the Fund's assets will be invested in long-term securities (i.e., securities with stated maturities of 10 years or more). The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook. Duration measures the price sensitivity of a fixed-income security to changes in interest rates.The securities in which the Fund may principally invest include tax-exempt securities, which may include, for example, general obligation bonds, special revenue bonds, private activity bonds, tax-increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities and planned amortization classes. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement.

Net Asset Value

as of 5:59 PM ET 09/24/2021

Performance

  • 1 Week
  • n/a
  • 1 Month
  • -0.35%
  • 3 Months
  • -0.26%
  • 1 Yr Return
  • +0.61%
  • 5 Yr Return
  • -0.17%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 98.60%
Other 1.40%
Stocks 0.00%
Cash 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 44.10 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.48 -0.50 -0.32
Beta 0.89 0.88 0.93
R Squared 0.99 0.98 0.98
Std Deviation 3.58 3.46 3.37
Sharpe Ratio 0.87 0.43 n/a

Purchase Information

as of 5:41 PM ET 09/23/2021
Minimum Initial $1500
Minimum Additional $100
Minimum Initial IRA $0

Performance

Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 05/31/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 05/31/2021
1 Year
  • +2.99%
  • +4.22%
+2.99% +4.22%
3 Year
  • +4.13%
  • +4.07%
+4.13% +4.07%
10 Year
  • +3.46%
  • +3.70%
+3.46% +3.70%
Life Of Fund
  • +4.14%
  • +4.18%
+4.14% +4.18%

Top 10 Holdings

Symbol Company Name % Of Assets
n/a

Recent Articles from TheStreet

Amazon Prime Lead

Whole Foods Adds Service Fee for Amazon Prime Deliveries

Amazon's Whole Foods Market is ending free deliveries for Amazon Prime members, as it will add a $9.95 service fee beginning in October.

FedEx Lead

FedEx Is a Sell, Guilfoyle Says

Delivery giant recently missed estimates and has been late to raise prices.

intel (4)

Intel Starts Construction of Two Arizona Computer Chip Factories

Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.

A technician works with genome samples at a biotech lab in Beijing. Photo: Reuters

Bret Jensen: Two Biotechs to Consider

Things are looking up for these drug companies as they make progress with the FDA

Oracle Lead

Guilfoyle: Oracle Not Likely to Rebound Soon

Database giant's troubles finding growth are limiting its upside for now.

DocuSign Set for Strong Q3, RBC Says; Affirms Stock Outperform, Lifts Target

Why Tim Collins Still Likes DocuSign

Digital signature company remains a good play on remote work changes

wynn resorts broll

Jim Cramer Talks Macao With Wynn Resorts CEO

Matthew Maddox argues China's crackdown will lead to better regulation.

Tesla Lead

Electric Vehicle Checkpoint: Experts Say EV Revolution is Here

See the latest news for the top stocks in the electric vehicle space including Tesla, Ford, General Motors, Li Auto and more.

Nikola

Tim Collins on How to Trade Nikola

Technical setups and short interest make much hated name volatile, and therefore interesting.