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Tax-Advantaged Dividend Income (HTD)

Daily Price as of 11/25/15

22.97 0.02 0.09
MKT Change ($) Change (%)
20.86 0.07 0.33

Management Team

No Photo Available
Gregory K. Phelps

Joined team in 2002
Joined subadvisor in 2005
Joined advisor in 1995
Investing since 1981

No Photo Available
Harindra de Silva, Ph.D., CFA

Joined firm in 1995
Began business career in 1988

No Photo Available
Gregory McMurran

Joined firm in 1976
Began business career in 1976

No Photo Available
Dennis Bein, CFA

Joined firm in 1995
Began business career in 1992

No Photo Available
Joseph H. Bozoyan, CFA

Joined team in 2015
Joined subadvisor in 2011
Joined advisor in 2011
Investing since 1993

Top Holdings (%)

as of 10/31/15
Interstate Power & Light Company 2.81
Vectren Corp. 2.73
Wells Fargo & Company, Series J 2.66
Eversource Energy 2.65
American Electric Power Company, Inc. 2.65
SCE Trust II 2.47
Dominion Resources, Inc. 2.26
Morgan Stanley 2.24
Spectra Energy Corp. 2.10
PPL Capital Funding, Inc. 2.03
The Fund’s holdings are subject to change at any time. Characteristics are expressed as a percentage of net assets except for certain closed-end funds where characteristics are expressed as a percentage of total managed assets.

All Funds (with the exception of the Money Market Fund) exclude cash and cash equivalent securities from Top holdings and Top issuers.

Goal and Strategy

The Fund’s investment objective is to provide a high level of after-tax total return from dividend income and capital appreciation. Under normal market conditions, the Fund invests at least 80% of its assets in dividend-paying common and preferred securities that the Advisor believes at the time of acquisition are eligible to pay dividends which, for individual shareholders, qualify for U.S. federal income taxation at rates applicable to long-term capital gains, which currently are taxed at a maximum rate of 20%.

Average Annual Total Returns

Month-End Performance (%) as of 10/31/15
(not annualized)
MKT 7.55 -0.70 2.91 10.31 13.70 11.09
Quarter-End Performance (%) as of 9/30/15
(not annualized)
MKT 1.63 -7.67 1.96 7.27 12.47 9.86

Cumulative Returns

Month-End Performance (%) as of 10/31/15
MKT 7.55 -0.70 2.91 34.23 90.01 186.22

The performance data shown represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent month-end, which may be higher or lower than that cited.

Performance figures assume that all distributions are reinvested.

Morningstar Rating1

Overall Rating

The fund has not yet been rated by Morningstar.

Overall Ratings are not available.

1 Morningstar proprietary ratings reflect risk-adjusted performance through most recent month-end. The ratings are subject to change every month. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return that accounts for variation in a fund’s monthly performance (including effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category, the next 22.5%, 35%, 22.5% and the bottom 10% receive 5, 4, 3, 2 or 1 star, respectively. (Each share class is counted as a fraction of 1 fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.