Top municipal-bond mutual funds at a glance

A look at some top national municipal-bond funds as recommended by Morningstar. All are intermediate-term funds (average maturity of five to 15 years) with expenses lower than the category average and no front-end or deferred load:

Fund: Fidelity Intermediate Municipal Income (FLTMX)

Assets: $4.3 billion

Yield: 3.44 percent

1-year annualized return: 1.03 percent

5-year annualized return: 3.66 percent

Average credit quality: medium (A)

Minimum investment: $10,000

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Fund: Vanguard High-Yield Tax-Exempt (VWAHX)

Assets: $6.2 billion

Yield: 4.64 percent

1-year annualized return: -0.75 percent

5-year annualized return: 2.74 percent

Average credit quality: medium (A)

Minimum investment: $3,000

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Fund: Vanguard Intermediate-Term Tax-Exempt (VWITX)

Assets: $28.6 billion

Yield: 3.71 percent

1-year annualized return: 0.37 percent

5-year annualized return: 3.55 percent

Average credit quality: high (AA)

Minimum investment: $3,000

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Source: Morningstar Inc.