CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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DI Nat Muni Incm Fd (VFL)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of April 25, 2017
Current
Market Price $13.01 (- $0.12)
NAV (April 25, 2017) $14.37 (- $0.04)
Premium / Discount -9.46% (-0.58%)
Fund Info
Inception Feb. 26, 1993
Sponsor Delaware Management Company
Website www.delawareinvestment...
Phone 866 437-0252
Objective: Current income exempt from regular federal income tax; Income securities, municipal bonds
Capital & Leverage
Outstanding Shares 4,528,443
Gross Assets $99M
Net Assets $65M
Market Cap $59M
Purchases Turnover 26.51%
Sales Turnover 24.43%
Total Leverage 31.79%
Structural Leverage (out of total) 31.79%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 1.67%
Non Lev Exp Ratio 0.90%
Rel Lev Cost 1.68%
Discount Data
Average Discount (3 Yr) -10.17%
Discount Low(3 Yr) -14.13%
Discount High(3 Yr) -3.92%
Discount Rel Range 45.67%
Comp Discount -6.05
Discount St Dev (1Yr) 1.64
Z-Stat
Z-Stat (6mo) -0.82
Z-Stat (1Yr) -1.18
Z-Stat (3Yr) 0.29
Comp Z-Stat (6mo) -1.00
Comp Z-Stat (3Yr) -0.06
Distribution Data
Market Yield 4.61%
Income Yield 4.61%
Lev Adj NAV Yield 3.17%
Distribution Frequency M
Current Distribution $0.050
Current Income $0.050
Ex-Date 4/11/17
Payable Date 4/28/17
Div Growth (3yr) -16.67%
Dividend Change -9.1% on 3/6/17
Expected Div 5/2/17
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $149
Avg Volume 30 day 10,676
Avg Volume 90 day 11,436
Volume Trend -6.65%
Comp Volume Trend 5.19%
Correlation & Volatility
Correlation (30 d) 86.7%
Correlation (90 d) 48.6%
Correlation (1 Yr) 96.9%
Price St Dev (1Yr) 10.4%
NAV St Dev (1Yr) 3.8%
Earnings
Earnings / Share (9/30/16) $0.055
Earn Coverage 110.40%
Earnings Trend Down
UNII / Share (12/31/16) $0.110
Rel UNII 18.30
UNII Trend Up
Bond Specific Data
Maturity 6.27
Duration 4.74
Credit Rating (rbo) A
Investment Grade 84.54%
Non Investment Grade 5.36%
Unrated Bonds 10.09%
Average Bond Price 109.42
Discount vs Price -0.04
Coupon 5.44%
Zero Coupon None%
AMT 5.43%
AMT Yield 4.54%
Bond Calls Risk 5.89%
Performance
NAV Beta (2yr)
vs. iShares 20+ Year Treasury Bond
0.24

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CEFData.com makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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