Spirit of America
High Yield Tax Free Bond Fund
The Spirit of America High Yield Tax-Free Bond Fund seeks high current income that is exempt from federal income tax, including alternative minimum tax.*
The Spirit of America High Yield Tax-Free Bond Fund seeks to achieve its investment objectives by investing, under usual circumstances, at least 80% of its assets in municipal bonds. The portfolio managers seek out municipal bonds with the potential to offer high current income, generally focusing on municipal bonds that can provide consistently attractive current yields.
Download the latest Spirit of America High Yield Tax Free Bond Fund Fact Sheet >>
*Please note income may be subject to state and local taxes.
The Fund began on 3/3/08.
While the Fund intends to seek a varied portfolio of municipal bonds, the Fund may have a relatively high portion of its portfolio holdings in particular segments of the municipal securities market such as tobacco bonds. The Fund may, therefore, be vulnerable to economic and other factors as well as legislative events that affect issuers in particular segments of the securities market.
Investing in municipal bonds involves various risks, including interest rate risk and credit risk. If interest rates rise, bond prices will fall. In addition, because the Fund intends to invest in lower rated municipal bonds which may be considered speculative, the credit risk is heightened for the Fund. As with any mutual fund, loss of principal is a risk of investing.
Offering by prospectus only. Investors are advised to consider the Fund’s investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information about the investment company. For complete information regarding performance data current to the most recent month end and to obtain a prospectus, contact: David Lerner Associates, 477 Jericho Turnpike, PO Box 9006, Syosset, New York 11791-9006; 1-800-367-3000.
Read the prospectus carefully before you invest or send money. Neither the information, nor any statement expressed or implied herein, constitutes solicitation by David Lerner Associates, Inc. for the purchase or sale of any securities.