Oppenheimer Rochester High Yield Municipal A Fund (ORNAX - MF report) a Zacks Rank #1 (Strong Buy) was established in October 1993 and is managed by Oppenheimer Funds Group. ORNAX seeks a high level of current income exempt from federal income taxes for individual investors by investing in a diversified portfolio of high-yield municipal securities. ORNAX invests at least 80% of its assets in municipal securities.

The Oppenheimer Rochester High Yield Municipal A fund, managed by Oppenheimer, carries an expense ratio of 0.71%, and requires a minimal initial investment of $1,000.

ORNAX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 4.58% and 5 year 8.48%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here.

ORNAX’s performance, as of the last filing, when compared to funds in its category was in the top 4% in 1 year, top 12% over the past 3 years, and in the 2% over the past 5 years.