The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in the prospectus and with the preservation of capital. Distinguishing Characteristics The fund will invest at least 80% of its assets in bonds and other debt instruments, including municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises. The fund will maintain an average portfolio duration that is within 1 year of the average duration of the Bloomberg Municipal Short 1-5 Years Index.