Delaware Inv National Muni Income:VFL

    Manage Alerts

    Overview

    As of 5/5/2021

     Share
    Price
    NAVPremium/
    Discount
    Current$13.65$15.14-9.84%
    52 Wk Avg$12.76$14.55-12.33%
    52 Wk High$13.99$15.30-9.71%
    52 Wk Low$11.34$13.22-14.74%
    Regular Distribution TypeIncome Only
    Distribution Rate3.74%
    Distribution Amount$0.0425
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    Shareholders of the Fund approved a proposal to eliminate a fundamental investment policy requiring the Fund to invest 80% of its net assets in insured, AAA-rated municipal bonds issued by the State of Florida. Effective 15-Oct-07, the Funds Investment Policy will be: Under normal market conditions, the Fund will invest at least 80% of its net assets in securities the income from which is exempt from federal income taxes. The Fund will also invest up to 20% of its net assets in municipal bonds with an investment rating of BB or lower. Effective 11-Mar-09, remaining consistent with the Funds strategy of investing in income securities, the Fund may now invest up to 20% of its total assets in fixed and floating rate loans.

    Capital Structure

    As of 5/5/2021

    Total Investment Exposure:$98.561M
    Total Common Assets:$68.561M
    Common Shares Outstanding:4,528,443
    Leverage

    As of 5/5/2021

    Preferred Share Assets: $30.000M
    Total Debt (USD):
    Regulatory Leverage (USD): $30.000M
    Effective Leverage (USD): $30.000M
    Effective Leverage (%): 30.44%
    Annual Expense Ratios

    As of 3/31/2021

      Per Common Share
    Management Fees0.58%
    Other Expenses:0.54%
    Baseline Expense: N/A
    Interest Expense:1.16%
    Total: 2.27%
    Fund Management

    Fund Sponsor
    Delaware Funds by Macquarie

    Portfolio Managers
    Stephen J. Czepiel, Gregory A. Gizzi, Jake van Roden, Denise Franchetti

    Basics
    Category: Fixed Income - Municipal-Municipal
    Ticker: VFL
    NAV Ticker: XVFLX
    Average Daily Volume (shares): 8,410
    Average Daily Volume (USD): $0.107M
    Inception Date: 2/26/1993
    Inception Share Price: $15.00
    Inception NAV: $14.05
    Tender Offer: No
    Term: No
    Fiscal Year End: March 31
    Third Party Links & Reports

    Distributions

    As of 5/5/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 9/30/2020
    $0.3010
    Annualized Distribution Rate on NAV:
    As of 5/5/2021
    3.37%
    Total Return on NAV (12 months):
    As of 5/5/2021
    19.75%
    Avg. Portfolio Coupon:
    As of 5/5/2021
    5.09%
    Total % Portfolio Effectively Leveraged:
    As of 5/5/2021
    30.44%
    Taxable Equivalent Yield

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 5/6/2021

    PeriodAvg Discount
    6 Month-11.74%
    1 Year-12.33%
    3 Year-11.90%
    5 Year-10.50%
    Z-Score

    As of 5/5/2021

    PeriodZStat
    3 Month2.20
    6 Month2.44
    1 Year2.30
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 4/30/2021
    Category: Morningstar US CEF Municipal

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD3.59%2.77%4.11%2.07%
    20203.75%4.90%6.21%5.83%
    201917.18%9.62%19.04%10.34%
    2018-5.75%-0.37%-5.46%0.49%
    20175.52%8.03%7.59%7.85%
    20166.50%0.17%1.16%0.57%
    20155.36%5.26%7.75%5.33%
    201418.94%19.50%19.16%18.97%
    2013-12.08%-8.74%-12.56%-6.88%
    201213.32%15.09%12.59%15.20%
    201111.54%10.88%20.50%16.78%
    20102.63%2.80%4.22%3.77%
    200935.37%19.97%48.30%33.43%
    2008-19.35%-15.92%  
    2007-10.97%1.04%  
    2006-3.95%5.12%  
    20051.61%3.44%  
    200414.67%3.28%  
    200312.74%6.48%  
    200213.19%12.62%  
    200114.74%5.07%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 4/30/2021
    Category: Morningstar US CEF Municipal

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    AMT:
    As of 3/31/2021
    10.60%
    Average Coupon:
    As of 5/5/2021
    5.09%
    Average Maturity:
    As of 3/31/2021
    6.75 yrs
    Number of Holdings:
    As of 3/31/2021
    172
    Annual Portfolio Turnover:
    As of 3/31/2021
    33.00%
    Average Bond Price:
    As of 3/31/2021
    $111.96
    Asset Allocation

    As of 3/31/2021 reported by Fund Sponsor

    Top Sectors

    As of 3/31/2021 reported by Fund Sponsor

    Sector%Portfolio
    US Municipal Tax Advantaged142.96%
    Municipal (Super Sector)142.96%
    Cash Equivalents-44.65%
    Cash Equivalents (Super Sector)-44.65%
    State Allocation

    As of 3/31/2021 reported by Fund Sponsor

    State% Portfolio
    California15.99%
    Illinois15.95%
    New York15.08%
    Puerto Rico14.88%
    Pennsylvania11.11%
    New Jersey9.73%
    Texas7.74%
    Arizona6.69%
    Florida5.06%
    Louisiana3.26%
    Top Holdings

    As of 3/31/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75%$3.52M5.24%
    M-S-R ENERGY AUTH CALIF GAS REV 7%$1.56M2.32%
    PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%$1.53M2.28%
    METROPOLITAN PIER & EXPOSITION AUTH ILL REV 4%$1.53M2.28%
    IDAHO HEALTH FACS AUTH REV 5%$1.53M2.27%
    UNIVERSITY TEX UNIV REVS 5%$1.52M2.26%
    PUERTO RICO COMWLTH 8%$1.50M2.23%
    ILLINOIS ST 4%$1.42M2.11%
    CALIFORNIA EDL FACS AUTH REV 5%$1.38M2.05%
    ILLINOIS ST 5%$1.32M1.97%
    Maturity Breakdown

    As of 3/31/2021 reported by Fund Sponsor

    Country Allocation

    As of 3/31/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income127.26%
    Others - Fixed Income15.70%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

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

    TAXABLE EQUIVALENT YIELD
    1 Taxable equivalent yield is the yield or distribution rate needed from a taxable investment to be economically equal to receiving the stated tax-free yield from a municipal bond investment. Please note that the income levels shown in the calculator do not reflect (i) any federal or state limitations on the amounts of allowable itemized deductions, phaseouts of personal or dependent exemption credits or other allowable credits, (ii) any local taxes imposed, or (iii) any alternative minimum taxes or any taxes other than personal income taxes. The user is responsible for selecting the applicable federal and, as applicable, state tax rates. The stated federal tax rates for joint incomes over $250,000 include the 3.8% medicare tax imposed on the net investment income of certain taxpayers with higher incomes. This calculator is for illustrative purposes only and is not intended to represent actual performance, or to predict future performance, of any Nuveen Investments product. Certain taxpayers may find their effective marginal tax rates to be greater than those shown in the calculator. In that case, the taxable equivalent yield may be even higher.

    The Tax Cuts and Jobs Act of 2017 doubles the standard deduction and implements a limit for itemizing state and local income taxes, state and local property taxes, and sales taxes on 2018 tax filings. Since it is expected that fewer investors will deduct state income taxes for federal filing purposes, this calculator does not contemplate a federal benefit for state taxes paid, and the effective tax rate therefore represents the applicable federal income tax rate plus the applicable state income tax rate. If you itemize your deductions and have not exceeded your cap on deducting state taxes, your taxable equivalent yield will generally be lower than the rate calculated above.

    The following information applies to closed-end funds 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. Shares of closed-end funds 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 frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-1456789PR-Y1220W