Bloomberg, as of 10/29/2024 and the Tax Foundation for state tax rates, as of 2/20/2024.

States selected are the top 10 based on market value in the Bloomberg U.S. Municipal Bond Index. "5-year national index" is represented by the Bloomberg Municipal Bond 5-year (4 – 6) Index. Difference in yields may be due to different credit qualities, call features or other factors. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. The Moody's investment grade rating scale is Aaa, Aa, A, and Baa, and the sub-investment grade scale is Ba, B, Caa, Ca, and C. Standard and Poor's investment grade rating scale is AAA, AA, A, and BBB and the sub-investment-grade scale is BB, B, CCC, CC, and C. Ratings from AA to CCC may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. Fitch's investment-grade rating scale is AAA, AA, A, and BBB and the sub-investment-grade scale is BB, B, CCC, CC, and C.