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Delaware Investments National Municipal Income Fund (VFL)

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

Data as of Dec. 6, 2019
Current
Market Price $13.29 ( $0.00)
NAV (Dec. 6, 2019) $14.90 (- $0.01)
Premium / Discount -10.81% (+0.06%)
Fund Info
Inception Feb. 26, 1993
Sponsor Delaware Management Company
Website https://www.delawarefu...
Phone 866 437-0252
NAV Symbol XVFLX
Objective: Current income exempt from regular federal income tax; Income securities, municipal bonds
Capital & Leverage
Outstanding Shares 4,528,443
Total Assets (Reported: Sept. 30, 2019) $97M
Estimated Total Assets $97M
Net Assets $67M
Market Cap $60M
Purchases Turnover 51.80%
Sales Turnover 50.21%
Total Leverage 30.72%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 2.41%
Non Lev Exp Ratio 1.13%
Rel Lev Cost 2.88%
Discount Data
Average Discount (3 Yr) -10.52%
Discount Low(3 Yr) -16.51%
Discount High(3 Yr) -4.92%
Discount Rel Range 49.23%
Comp Discount -7.02
Discount St Dev (1Yr) 2.07
Z-Stat
Z-Stat (6mo) -0.62
Z-Stat (1Yr) 0.12
Z-Stat (3Yr) -0.12
Comp Z-Stat (6mo) -1.05
Comp Z-Stat (3Yr) -0.69
Distribution Data
Market Yield 3.84%
Income Yield 3.84%
Lev Adj NAV Yield 2.62%
Distribution Frequency M
Current Distribution $0.043
Current Income $0.043
Ex-Date 12/18/19
Payable Date 12/27/19
Div Growth (3yr) -22.73%
Dividend Change -15.0% on 9/3/19
Expected Div 12/3/19
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $111
Avg Volume 30 day 8,609
Avg Volume 90 day 8,386
Volume Trend 2.66%
Comp Volume Trend 3.74%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
-12.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
24.0%
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
65.0%
Most Correlated Peer (Mk Pr): NZF 71.0%
NAV - Price Correlation (30 d) 81.7%
NAV - Price Correlation (90 d) 91.0%
NAV - Price Correlation (1 Yr) 94.8%
Price St Dev (1Yr) 7.5%
NAV St Dev (1Yr) 2.7%
Earnings
Earnings / Share (9/30/19) $0.045
Earn Coverage 106.12%
Earnings Trend Down
UNII / Share (9/30/19) $0.062
Rel UNII 12.14
UNII Trend Down
Bond Specific Data
Maturity 6.39
Duration 5.14
Credit Rating (rbo) A
Investment Grade 80.14%
Non Investment Grade 5.64%
Unrated Bonds 14.21%
Average Bond Price 114.40
Discount vs Price 3.59
Coupon 5.26%
Zero Coupon 1.34%
AMT 7.78%
AMT Yield 3.75%
Bond Calls Risk 4.78%
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
-0.03
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.00
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index
0.76

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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.

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