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Performance as of 04-30-2013 (unless otherwise noted)

Figures quoted represent past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

Performance including sales charge assumes the sales charge for the corresponding time period. Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges.

Investing in all mutual funds entails risk. Information about the risks of investing in a Fund is available in the Fund's prospectus.

Returns for periods of less than one year are not annualized.

Large Cap – Share Class A
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
C&B Large Cap Value Fund
Inception 05-15-1990
 NAV  04-30-2013 8.35 15.62 15.99 9.99 4.31 7.31 9.53 5.75
1.30 1.15    09-30-2013
 POP  04-30-2013 2.15 8.94 9.36 7.83 3.09 6.67 9.25
 POP  03-31-2013 6.87 6.87 6.59 7.97 3.44 7.60 9.19
Capital Growth Fund
Inception 11-03-1997
 NAV  04-30-2013 6.24 10.43 8.16 10.69 1.52 6.81 6.86 5.75
1.21 1.11    11-30-2014
 POP  04-30-2013 0.11 4.05 1.92 8.52 0.32 6.18 6.45
 POP  03-31-2013 2.39 2.39 0.18 8.35 1.63 6.79 6.37
Disciplined U.S. Core Fund
Inception 02-28-1990
 NAV  04-30-2013 7.74 13.38 16.54 12.45 4.95 8.13 8.90 5.75
0.92 0.92    11-30-2013
 POP  04-30-2013 1.54 6.83 9.81 10.25 3.72 7.49 8.62
 POP  03-31-2013 4.86 4.86 6.97 9.94 4.29 8.24 8.56
Diversified Equity Fund
Inception 12-31-1988
 NAV  04-30-2013 5.20 10.72 13.10 10.40 3.51 6.98 8.99 5.75
1.41 1.25    09-30-2013
 POP  04-30-2013 -0.85 4.35 6.60 8.25 2.29 6.35 8.73
 POP  03-31-2013 2.96 2.96 4.47 8.32 3.01 7.05 8.70
Endeavor Select Fund
Inception 12-29-2000
 NAV  04-30-2013 5.67 8.76 8.27 11.07 1.66 8.07 2.67 5.75
1.23 1.23    11-30-2013
 POP  04-30-2013 -0.42 2.49 2.05 8.90 0.46 7.43 2.18
 POP  03-31-2013 1.29 1.29 1.20 8.83 2.07 7.87 2.10
Growth Fund
Inception 12-31-1993
 NAV  04-30-2013 1.27 6.32 4.00 15.73 10.27 12.00 10.93 5.75
1.21 1.21    11-30-2013
 POP  04-30-2013 -4.55 0.21 -1.99 13.47 8.96 11.34 10.59
 POP  03-31-2013 0.64 0.64 -1.69 14.50 10.42 12.05 10.66
Index Fund
Inception 02-14-1985
 NAV  04-30-2013 7.06 12.53 16.30 12.22 4.71 7.32 9.66 5.75
0.69 0.56    09-30-2013
 POP  04-30-2013 0.90 6.07 9.63 10.03 3.48 6.68 9.43
 POP  03-31-2013 4.12 4.12 6.88 9.91 4.07 7.31 9.39
Intrinsic Value Fund
Inception 08-01-2006
 NAV  04-30-2013 5.71 11.79 17.78 11.99 5.60 6.65 5.75
1.27 1.17    11-30-2014
 POP  04-30-2013 -0.37 5.36 11.01 9.80 4.36 5.72
 POP  03-31-2013 3.92 3.92 9.08 10.37 5.26 5.57
Large Cap Core Fund
Inception 12-17-2007
 NAV  04-30-2013 6.58 13.27 14.58 11.74 3.96 2.64 5.75
1.37 1.14    11-30-2013
 POP  04-30-2013 0.46 6.79 8.01 9.57 2.73 1.51
 POP  03-31-2013 5.53 5.53 6.94 9.48 3.43 1.31
Large Cap Growth Fund
Inception 12-30-1981
 NAV  04-30-2013 3.88 7.89 3.20 11.82 5.42 7.64 10.12 5.75
1.26 1.08    11-30-2014
 POP  04-30-2013 -2.09 1.68 -2.74 9.64 4.18 7.01 9.91
 POP  03-31-2013 0.82 0.82 -3.72 9.46 5.15 7.60 9.91
Large Company Value Fund
Inception 07-01-1993
 NAV  04-30-2013 6.03 12.40 15.99 9.04 3.16 7.38 7.73 5.75
1.27 1.10    11-30-2013
 POP  04-30-2013 -0.05 5.96 9.31 6.90 1.95 6.75 7.41
 POP  03-31-2013 4.49 4.49 7.18 6.85 2.53 7.43 7.37
Omega Growth Fund
Inception 04-29-1968
 NAV  04-30-2013 5.93 10.27 10.13 12.46 10.08 9.94 9.60 5.75
1.35 1.30    11-30-2013
 POP  04-30-2013 -0.16 3.93 3.80 10.26 8.79 9.29 9.46
 POP  03-31-2013 2.56 2.56 3.26 10.25 9.66 9.87 9.44
Premier Large Company Growth Fund
Inception 09-11-1935
 NAV  04-30-2013 2.66 7.43 5.57 12.32 9.32 9.16 10.31 5.75
1.24 1.13    11-30-2014
 POP  04-30-2013 -3.26 1.22 -0.52 10.14 8.04 8.51 10.22
 POP  03-31-2013 1.05 1.05 -0.69 10.53 9.09 9.21 10.23

Mid Cap – Share Class A
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
C&B Mid Cap Value Fund
Inception 02-18-1998
 NAV  04-30-2013 7.53 13.86 20.13 12.71 8.53 9.51 9.83 5.75
1.39 1.21    01-31-2014
 POP  04-30-2013 1.33 7.31 13.23 10.50 7.26 8.87 9.40
 POP  03-31-2013 6.45 6.45 12.09 12.11 8.14 9.74 9.40
Common Stock Fund
Inception 12-29-1989
 NAV  04-30-2013 1.61 7.93 15.45 10.79 7.96 11.29 12.72 5.75
1.32 1.27    01-31-2014
 POP  04-30-2013 -4.22 1.71 8.80 8.62 6.69 10.63 12.43
 POP  03-31-2013 3.32 3.32 8.48 10.75 8.13 11.56 12.55
Discovery Fund
Inception 12-31-1987
 NAV  04-30-2013 7.92 14.38 12.67 16.30 8.93 12.25 11.57 5.75
1.30 1.23    01-31-2014
 POP  04-30-2013 1.72 7.80 6.21 14.03 7.65 11.59 11.31
 POP  03-31-2013 6.24 6.24 4.89 15.44 9.41 12.15 11.28
Enterprise Fund
Inception 09-30-1998
 NAV  04-30-2013 8.90 14.58 11.70 12.70 4.79 9.78 10.87 5.75
1.29 1.18    01-31-2014
 POP  04-30-2013 2.65 8.00 5.28 10.49 3.55 9.13 10.42
 POP  03-31-2013 5.57 5.57 2.58 10.99 5.09 9.72 10.31
Opportunity Fund
Inception 12-31-1985
 NAV  04-30-2013 4.13 10.94 12.90 8.88 5.05 9.36 12.00 5.75
1.26 1.23    01-31-2014
 POP  04-30-2013 -1.87 4.56 6.42 6.75 3.81 8.71 11.76
 POP  03-31-2013 4.32 4.32 4.97 7.87 5.18 9.62 11.78
Special Mid Cap Value Fund
Inception 12-31-1998
 NAV  04-30-2013 7.62 14.85 24.44 13.09 8.16 11.72 12.03 5.75
1.31 1.26    01-31-2014
 POP  04-30-2013 1.43 8.25 17.29 10.88 6.89 11.07 11.57
 POP  03-31-2013 7.97 7.97 16.07 12.20 8.16 11.93 11.62

Small Cap – Share Class A
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
Emerging Growth Fund
Inception 01-31-2007
 NAV  04-30-2013 4.07 9.47 2.99 14.32 6.77 5.70 5.75
1.42 1.37    09-30-2013
 POP  04-30-2013 -1.91 3.18 -2.93 12.08 5.52 4.70
 POP  03-31-2013 6.44 6.44 -0.23 14.56 7.71 5.29
Intrinsic Small Cap Value Fund
Inception 03-28-2002
 NAV  04-30-2013 5.50 12.48 22.81 9.78 5.95 10.67 9.09 5.75
1.48 1.46    02-28-2014
 POP  04-30-2013 -0.56 6.02 15.77 7.64 4.70 10.02 8.51
 POP  03-31-2013 6.89 6.89 13.47 10.05 6.08 11.46 8.66
Small Cap Value Fund
Inception 12-31-1997
 NAV  04-30-2013 2.97 7.25 13.35 6.96 5.25 12.19 12.39 5.75
1.36 1.32    02-28-2014
 POP  04-30-2013 -2.97 1.10 6.82 4.87 4.01 11.53 11.95
 POP  03-31-2013 3.39 3.39 10.23 7.17 5.19 12.65 12.18
Small Company Growth Fund
Inception 12-31-1982
 NAV  04-30-2013 3.96 11.92 13.84 14.74 9.69 10.01 11.33 5.75
1.45 1.45    09-30-2013
 POP  04-30-2013 -2.02 5.48 7.29 12.49 8.40 9.36 11.12
 POP  03-31-2013 6.97 6.97 6.61 14.64 9.38 10.20 11.20
Small Company Value Fund
Inception 06-01-1997
 NAV  04-30-2013 3.63 10.84 13.47 10.27 8.07 9.87 9.00 5.75
1.50 1.45    09-30-2013
 POP  04-30-2013 -2.33 4.47 6.94 8.11 6.80 9.22 8.59
 POP  03-31-2013 5.30 5.30 7.20 11.13 7.51 10.34 8.69
Small/Mid Cap Value Fund
Inception 03-28-2002
 NAV  04-30-2013 -0.67 3.68 6.35 4.25 2.92 10.07 6.71 5.75
1.42 1.41    02-28-2014
 POP  04-30-2013 -6.36 -2.27 0.23 2.22 1.71 9.42 6.14
 POP  03-31-2013 0.24 0.24 3.06 4.94 3.31 10.57 6.44
Special Small Cap Value Fund
Inception 05-07-1993
 NAV  04-30-2013 2.64 7.60 10.10 7.38 5.81 9.84 11.06 5.75
1.39 1.35    02-28-2014
 POP  04-30-2013 -3.27 1.40 3.78 5.29 4.57 9.19 10.73
 POP  03-31-2013 2.65 2.65 3.78 8.67 5.36 10.09 10.85
Traditional Small Cap Growth Fund
Inception 04-15-1985
 NAV  04-30-2013 2.73 7.90 7.29 9.43 6.54 9.07 9.61 5.75
1.48 1.33    02-28-2014
 POP  04-30-2013 -3.15 1.71 1.13 7.28 5.29 8.43 9.38
 POP  03-31-2013 3.97 3.97 2.76 10.08 6.81 9.51 9.49

International – Share Class A
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
Asia Pacific Fund
Inception 12-31-1993
 NAV  04-30-2013 7.14 11.00 20.44 10.04 0.14 14.08 4.77 5.75
1.74 1.62    02-28-2014
 POP  04-30-2013 0.95 4.65 13.56 7.89 -1.04 13.42 4.44
 POP  03-31-2013 -0.09 -0.09 9.55 5.98 -1.37 13.09 4.21
Diversified International Fund
Inception 09-24-1997
 NAV  04-30-2013 4.19 8.75 17.24 8.37 -1.35 7.12 3.80 5.75
1.66 1.42    02-28-2014
 POP  04-30-2013 -1.84 2.47 10.46 6.26 -2.52 6.49 3.41
 POP  03-31-2013 -1.74 -1.74 4.08 4.14 -2.35 6.90 3.15
Emerging Markets Equity Fund
Inception 09-06-1994
 NAV  04-30-2013 -0.96 0.09 4.36 4.82 1.56 17.64 7.91 5.75
1.69 1.69    02-28-2014
 POP  04-30-2013 -6.65 -5.67 -1.65 2.77 0.36 16.94 7.56
 POP  03-31-2013 -7.42 -7.42 -5.02 2.15 1.51 17.72 7.49
Emerging Markets Equity Income Fund
Inception 05-31-2012
 NAV  04-30-2013 2.82 5.40 26.77 5.75
4.34 1.65    02-28-2014
 POP  04-30-2013 -3.06 -0.69 19.48
 POP  03-31-2013 -3.09 -3.09 16.59
Global Opportunities Fund
Inception 03-16-1988
 NAV  04-30-2013 2.98 6.78 13.73 7.49 2.54 12.79 10.08 5.75
1.56 1.56    02-28-2014
 POP  04-30-2013 -2.95 0.64 7.19 5.39 1.33 12.12 9.82
 POP  03-31-2013 0.53 0.53 6.49 6.80 2.34 13.01 9.85
International Equity Fund
Inception 09-06-1979
 NAV  04-30-2013 3.60 7.37 13.78 5.65 -2.91 7.61 7.91 5.75
1.54 1.10    02-28-2014
 POP  04-30-2013 -2.32 1.20 7.26 3.58 -4.05 6.98 7.72
 POP  03-31-2013 -3.52 -3.52 -0.59 1.68 -4.44 7.25 7.59
International Value Fund
Inception 10-31-2003
 NAV  04-30-2013 4.23 8.57 18.48 6.29 -1.79 6.00 5.75
1.52 1.50    09-30-2013
 POP  04-30-2013 -1.77 2.33 11.67 4.21 -2.95 5.34
 POP  03-31-2013 -2.27 -2.27 3.86 2.00 -2.86 4.87
Intrinsic World Equity Fund
Inception 04-30-1996
 NAV  04-30-2013 4.28 9.30 15.26 13.03 3.97 10.56 9.66 5.75
1.52 1.41    02-28-2014
 POP  04-30-2013 -1.70 3.01 8.61 10.82 2.75 9.90 9.28
 POP  03-31-2013 0.36 0.36 5.92 10.01 3.60 10.50 9.15

Specialty – Share Class A
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
Precious Metals Fund
Inception 01-30-1978
 NAV  04-30-2013 -24.79 -30.47 -31.08 -12.43 -3.29 13.16 9.24 5.75
1.15 1.10    07-31-2013
 POP  04-30-2013 -29.11 -34.47 -35.04 -14.15 -4.43 12.49 9.06
 POP  03-31-2013 -21.57 -21.57 -25.68 -5.28 -2.45 14.52 9.64
Specialized Technology Fund
Inception 09-18-2000
 NAV  04-30-2013 2.75 6.49 2.77 8.93 5.99 12.49 -0.96 5.75
1.61 1.61    07-31-2013
 POP  04-30-2013 -3.18 0.37 -3.12 6.79 4.75 11.81 -1.42
 POP  03-31-2013 -0.37 -0.37 -5.88 7.88 6.25 13.00 -1.49
Utility and Telecommunications Fund
Inception 01-04-1994
 NAV  04-30-2013 10.31 14.92 20.22 14.70 4.76 14.04 9.02 5.75
1.21 1.15    07-31-2013
 POP  04-30-2013 3.96 8.31 13.30 12.46 3.53 13.37 8.69
 POP  03-31-2013 4.74 4.74 11.16 11.59 4.40 13.63 8.54

Asset Allocation – Share Class A
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
Absolute Return Fund
Inception 07-23-2003
 NAV  04-30-2013 3.33 5.43 9.81 6.35 5.66 9.96 5.75
1.69 1.69    02-28-2014
 POP  04-30-2013 -2.60 -0.64 3.46 4.27 4.42 9.30
 POP  03-31-2013 -2.47 -2.47 0.60 3.64 4.19 9.17
Asset Allocation Fund
Inception 07-29-1996
 NAV  04-30-2013 3.50 6.08 11.37 7.65 4.81 7.91 8.17 5.75
1.41 1.41    02-01-2014
 POP  04-30-2013 -2.44 0.00 5.00 5.53 3.57 7.27 7.79
 POP  03-31-2013 -2.35 -2.35 1.53 4.70 3.43 7.57 7.68
Diversified Capital Builder Fund
Inception 09-11-1935
 NAV  04-30-2013 6.77 12.71 18.73 11.23 3.00 5.26 7.57 5.75
1.21 1.20    01-31-2014
 POP  04-30-2013 0.65 6.20 11.96 9.07 1.79 4.64 7.49
 POP  03-31-2013 4.72 4.72 9.48 8.95 2.94 4.99 7.48
Diversified Income Builder Fund
Inception 04-14-1987
 NAV  04-30-2013 4.24 6.65 15.19 11.03 6.56 5.39 6.53 5.75
1.14 1.08    01-31-2014
 POP  04-30-2013 -1.76 0.55 8.48 8.88 5.31 4.77 6.29
 POP  03-31-2013 -1.51 -1.51 6.71 8.59 5.88 4.93 6.22
Growth Balanced Fund
Inception 04-30-1989
 NAV  04-30-2013 4.34 8.92 12.12 9.47 4.05 6.45 8.20 5.75
1.36 1.20    09-30-2013
 POP  04-30-2013 -1.66 2.66 5.67 7.33 2.83 5.82 7.93
 POP  03-31-2013 1.50 1.50 3.74 7.41 3.39 6.37 7.91
Index Asset Allocation Fund
Inception 11-13-1986
 NAV  04-30-2013 6.75 10.81 14.70 12.42 5.22 7.12 8.48 5.75
1.19 1.16    01-31-2014
 POP  04-30-2013 0.63 4.45 8.12 10.23 3.98 6.49 8.23
 POP  03-31-2013 2.02 2.02 5.70 10.06 4.19 6.95 8.16
Moderate Balanced Fund
Inception 04-30-1989
 NAV  04-30-2013 3.19 6.05 9.53 7.73 4.51 5.60 7.28 5.75
1.33 1.15    09-30-2013
 POP  04-30-2013 -2.75 -0.05 3.23 5.62 3.28 4.97 7.01
 POP  03-31-2013 -1.05 -1.05 1.99 5.80 3.54 5.31 6.99
Target 2010 Fund
Inception 03-01-1994
 NAV  04-30-2013 1.58 1.89 4.08 5.55 3.61 5.48 6.07 5.75
1.08 0.99    06-30-2013
 POP  04-30-2013 -4.25 -3.98 -1.89 3.48 2.39 4.86 5.74
 POP  03-31-2013 -4.98 -4.98 -2.21 3.47 2.47 5.19 5.71
Target 2015 Fund
Inception 06-29-2007
 NAV  04-30-2013 2.02 2.94 5.72 6.35 3.74 3.69 5.75
1.08 0.84    06-30-2014
 POP  04-30-2013 -3.87 -2.96 -0.36 4.25 2.53 2.65
 POP  03-31-2013 -4.00 -4.00 -0.99 4.26 2.75 2.49
Target 2020 Fund
Inception 03-01-1994
 NAV  04-30-2013 2.62 4.27 7.23 6.88 3.53 6.25 6.57 5.75
1.05 1.01    06-30-2013
 POP  04-30-2013 -3.31 -1.72 1.08 4.81 2.31 5.62 6.24
 POP  03-31-2013 -2.90 -2.90 0.05 4.76 2.66 6.06 6.20
Target 2025 Fund
Inception 06-29-2007
 NAV  04-30-2013 3.22 5.67 9.12 7.80 3.86 3.07 5.75
1.07 0.86    06-30-2014
 POP  04-30-2013 -2.76 -0.39 2.88 5.68 2.63 2.03
 POP  03-31-2013 -1.76 -1.76 1.34 5.66 3.11 1.82
Target 2030 Fund
Inception 03-01-1994
 NAV  04-30-2013 3.84 6.93 10.67 8.23 3.71 6.91 7.07 5.75
1.07 1.02    06-30-2013
 POP  04-30-2013 -2.13 0.80 4.32 6.11 2.48 6.28 6.74
 POP  03-31-2013 -0.67 -0.67 2.34 6.12 3.06 6.79 6.68
Target 2035 Fund
Inception 06-29-2007
 NAV  04-30-2013 4.44 8.14 12.22 8.85 4.08 2.77 5.75
1.09 0.88    06-30-2014
 POP  04-30-2013 -1.61 1.87 5.78 6.74 2.86 1.73
 POP  03-31-2013 0.30 0.30 3.60 6.76 3.52 1.48
Target 2040 Fund
Inception 03-01-1994
 NAV  04-30-2013 4.69 8.97 13.14 9.06 3.90 7.58 7.46 5.75
1.08 1.03    06-30-2013
 POP  04-30-2013 -1.34 2.68 6.66 6.93 2.67 6.95 7.13
 POP  03-31-2013 0.99 0.99 4.11 6.92 3.34 7.54 7.07
Target 2045 Fund
Inception 06-29-2007
 NAV  04-30-2013 5.00 9.44 13.96 9.42 4.36 2.90 5.75
1.10 0.88    06-30-2014
 POP  04-30-2013 -1.07 3.16 7.44 7.28 3.12 1.86
 POP  03-31-2013 1.41 1.41 4.76 7.28 3.80 1.59
Target 2050 Fund
Inception 06-29-2007
 NAV  04-30-2013 4.95 9.48 13.95 9.40 4.34 2.87 5.75
1.09 0.88    06-30-2014
 POP  04-30-2013 -1.09 3.24 7.42 7.27 3.11 1.84
 POP  03-31-2013 1.50 1.50 4.72 7.31 3.77 1.56
Target 2055 Fund
Inception 06-30-2011
 NAV  04-30-2013 4.96 9.40 13.89 7.87 5.75
4.24 0.88    06-30-2014
 POP  04-30-2013 -1.06 3.16 7.32 4.44
 POP  03-31-2013 1.43 1.43 4.71 3.65
Target Today Fund
Inception 03-01-1994
 NAV  04-30-2013 1.20 1.10 3.00 5.09 4.24 4.99 5.22 5.75
1.07 0.96    06-30-2013
 POP  04-30-2013 -4.60 -4.69 -2.96 3.02 3.00 4.37 4.89
 POP  03-31-2013 -5.56 -5.56 -3.01 3.00 2.91 4.61 4.87

Municipal Income – Share Class A
 
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
California Limited-Term Tax-Free Fund
Inception 11-18-1992
 NAV  04-30-2013 0.85 1.11 3.09 3.38 3.71 3.09 3.85 3.00
0.85 0.81    10-31-2013
 POP  04-30-2013 -1.17 -0.92 1.01 2.70 3.29 2.88 3.75
 POP  03-31-2013 -1.25 -1.25 1.14 2.71 3.30 2.89 3.75
California Tax-Free Fund
Inception 10-06-1988
 NAV  04-30-2013 1.09 1.98 7.32 7.35 6.28 4.96 6.35 4.50
0.82 0.75    10-31-2013
 POP  04-30-2013 -3.44 -2.62 2.54 5.70 5.29 4.48 6.15
 POP  03-31-2013 -3.71 -3.71 2.66 5.81 5.28 4.46 6.13
Colorado Tax-Free Fund
Inception 06-01-1993
 NAV  04-30-2013 0.81 1.34 6.13 5.87 5.15 4.22 5.23 4.50
0.92 0.86    10-31-2013
 POP  04-30-2013 -3.73 -3.22 1.35 4.25 4.18 3.74 4.98
 POP  03-31-2013 -4.24 -4.24 1.42 4.17 4.15 3.70 4.95
High Yield Municipal Bond Fund
Inception 01-31-2013
 NAV  04-30-2013 1.87 1.87 4.50
1.09 0.85    10-31-2014
 POP  04-30-2013 -2.71 -2.71
 POP  03-31-2013 -4.01
Intermediate Tax/AMT-Free Fund
Inception 07-31-2001
 NAV  04-30-2013 0.91 1.36 5.00 6.11 5.70 4.92 5.38 4.50
0.82 0.70    10-31-2013
 POP  04-30-2013 -2.12 -1.68 1.85 5.04 5.05 4.60 5.10
 POP  03-31-2013 -2.53 -2.53 2.18 5.03 5.00 4.57 5.06
Minnesota Tax-Free Fund
Inception 01-12-1988
 NAV  03-31-2013 0.54 0.54 4.58 5.61 5.17 4.35 5.60 4.50
0.89 0.85    10-31-2013
 POP  03-31-2013 -3.99 -3.99 -0.12 4.00 4.21 3.87 5.41
Municipal Bond Fund
Inception 10-23-1986
 NAV  01-31-2013 1.54 0.79 7.63 7.93 6.75 6.45 5.79 3.00
0.80 0.75    10-31-2013
 POP  01-31-2013 -3.01 -3.77 2.74 6.30 5.76 5.96 5.61
 POP  12-31-2012 -2.94 5.34 5.34 6.32 5.70 5.83 5.59
North Carolina Tax-Free Fund
Inception 01-11-1993
 NAV  04-30-2013 0.86 1.31 5.15 5.83 5.08 3.82 4.72 4.50
0.90 0.85    10-31-2013
 POP  04-30-2013 -3.72 -3.21 0.38 4.23 4.11 3.34 4.48
 POP  03-31-2013 -4.18 -4.18 0.56 4.20 4.03 3.29 4.45
Pennsylvania Tax-Free Fund
Inception 12-27-1990
 NAV  04-30-2013 1.23 1.61 6.23 6.68 6.06 4.42 5.80 4.50
0.88 0.74    10-31-2013
 POP  04-30-2013 -3.34 -2.98 1.41 5.04 5.09 3.94 5.58
 POP  03-31-2013 -4.08 -4.08 1.84 5.07 4.98 3.90 5.55
Short-Term Municipal Bond Fund
Inception 12-31-1991
 NAV  04-30-2013 0.35 0.54 1.67 2.53 3.36 3.36 4.04 2.00
0.78 0.60    10-31-2013
 POP  04-30-2013 -1.66 -1.47 -0.36 1.84 2.94 3.15 3.94
 POP  03-31-2013 -1.55 -1.55 -0.21 1.89 3.02 3.19 3.95
Strategic Municipal Bond Fund
Inception 03-21-1985
 NAV  04-30-2013 0.56 0.90 3.16 3.99 3.68 3.43 5.41 4.50
0.83 0.82    10-31-2013
 POP  04-30-2013 -3.94 -3.62 -1.47 2.40 2.73 2.95 5.24
 POP  03-31-2013 -3.83 -3.83 -1.32 2.43 2.75 2.96 5.25
Ultra Short-Term Municipal Income Fund
Inception 11-30-1995
 NAV  04-30-2013 0.07 0.29 0.57 1.05 2.15 2.24 2.75 2.00
0.75 0.67    10-31-2013
 POP  04-30-2013 -1.94 -1.71 -1.45 0.37 1.74 2.03 2.63
 POP  03-31-2013 -1.74 -1.74 -1.42 0.39 1.80 2.07 2.64
Wisconsin Tax-Free Fund
Inception 04-06-2001
 NAV  04-30-2013 0.60 1.07 3.31 4.67 4.78 4.24 4.83 4.50
0.92 0.70    10-31-2013
 POP  04-30-2013 -3.89 -3.45 -1.32 3.08 3.82 3.76 4.44
 POP  03-31-2013 -4.16 -4.16 -1.22 3.10 3.75 3.77 4.40

Income – Share Class A
 
  Annualized Total Returns   Expense Ratios
  Since Max
     
    Performance   Last 3 Months    YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
Adjustable Rate Government Fund
Inception 10-01-1991
 NAV  04-30-2013 0.40 0.36 1.33 1.79 2.17 2.55 4.07 2.00
0.82 0.75    12-31-2013
 POP  04-30-2013 -1.63 -1.68 -0.73 1.09 1.76 2.34 3.98
 POP  03-31-2013 -1.84 -1.84 -0.83 1.30 1.65 2.34 3.98
Core Bond Fund (formerly Total Return Bond)
Inception 06-30-1997
 NAV  04-30-2013 1.58 0.92 5.07 6.46 6.85 5.40 6.37 4.50
0.85 0.78    09-30-2014
 POP  04-30-2013 -2.99 -3.62 0.34 4.84 5.87 4.91 6.06
 POP  03-31-2013 -4.56 -4.56 0.55 4.85 5.70 4.91 6.02
Emerging Markets Local Bond Fund
Inception 05-31-2012
 NAV  04-30-2013 1.61 1.92 15.54 4.50
2.27 1.23    02-28-2014
 POP  04-30-2013 -3.00 -2.63 10.35
 POP  03-31-2013 -5.71 -5.71 6.85
Government Securities Fund
Inception 10-29-1986
 NAV  04-30-2013 1.18 0.43 2.06 4.29 4.87 4.33 6.66 4.50
0.90 0.90    12-31-2013
 POP  04-30-2013 -3.37 -4.09 -2.53 2.70 3.91 3.85 6.47
 POP  03-31-2013 -4.67 -4.67 -2.09 2.77 3.58 3.83 6.47
High Income Fund
Inception 12-28-1995
 NAV  04-30-2013 2.90 4.04 12.27 10.37 8.97 8.25 7.32 4.50
1.01 0.91    12-31-2013
 POP  04-30-2013 -1.73 -0.64 7.22 8.69 7.97 7.75 7.04
 POP  03-31-2013 -2.46 -2.46 6.22 8.70 8.16 8.01 6.96
High Yield Bond Fund
Inception 09-11-1935
 NAV  04-30-2013 2.97 3.97 13.13 9.25 9.41 7.93 8.06 4.50
1.03 1.03    12-31-2013
 POP  04-30-2013 -1.81 -0.59 7.94 7.55 8.39 7.42 8.00
 POP  03-31-2013 -2.71 -2.71 6.53 7.79 8.80 7.58 7.98
Income Plus Fund
Inception 07-13-1998
 NAV  04-30-2013 1.83 1.32 4.85 6.32 7.00 5.96 5.53 4.50
0.92 0.90    12-31-2013
 POP  04-30-2013 -2.75 -3.21 0.14 4.69 6.02 5.47 5.20
 POP  03-31-2013 -4.34 -4.34 0.19 4.71 5.76 5.56 5.15
Inflation-Protected Bond Fund
Inception 02-28-2003
 NAV  04-30-2013 0.98 0.25 3.90 7.13 5.54 5.55 5.29 4.50
1.14 0.85    09-30-2013
 POP  04-30-2013 -3.57 -4.26 -0.77 5.50 4.58 5.06 4.82
 POP  03-31-2013 -4.93 -4.93 0.38 6.11 3.94 4.95 4.78
International Bond Fund
Inception 12-15-1993
 NAV  04-30-2013 0.26 -0.09 3.99 5.29 5.40 6.41 6.05 4.50
1.04 1.03    02-28-2015
 POP  04-30-2013 -4.26 -4.58 -0.67 3.68 4.43 5.92 5.80
 POP  03-31-2013 -7.19 -7.19 -2.09 2.78 3.37 5.94 5.67
Short Duration Government Bond Fund
Inception 12-18-1992
 NAV  04-30-2013 0.12 0.11 0.97 1.99 3.28 3.11 4.63 3.00
0.82 0.79    12-31-2014
 POP  04-30-2013 -1.88 -1.90 -1.05 1.30 2.87 2.90 4.52
 POP  03-31-2013 -1.97 -1.97 -0.75 1.36 2.76 2.91 4.54
Short-Term Bond Fund
Inception 08-31-1987
 NAV  04-30-2013 0.30 0.40 1.83 2.29 3.44 3.28 5.14 3.00
0.86 0.81    12-31-2013
 POP  04-30-2013 -1.71 -1.60 -0.21 1.60 3.03 3.07 5.06
 POP  03-31-2013 -1.80 -1.80 -0.15 1.76 2.94 3.11 5.07
Short-Term High Yield Bond Fund
Inception 06-30-1997
 NAV  04-30-2013 1.19 1.60 5.08 5.23 5.02 4.80 4.84 3.00
0.95 0.82    12-31-2013
 POP  04-30-2013 -1.85 -1.45 1.93 4.17 4.38 4.48 4.64
 POP  03-31-2013 -2.11 -2.11 1.85 4.13 4.61 4.58 4.62
Strategic Income Fund
Inception 01-31-2013
 NAV  04-30-2013 0.96 0.96 4.50
1.11 0.90    02-28-2014
 POP  04-30-2013 -3.57 -3.57
 POP  03-31-2013 -5.07
Ultra Short-Term Income Fund
Inception 11-25-1988
 NAV  04-30-2013 0.07 0.13 1.11 1.30 1.67 2.13 4.36 2.00
0.85 0.72    12-31-2013
 POP  04-30-2013 -1.94 -1.87 -0.91 0.62 1.26 1.92 4.28
 POP  03-31-2013 -1.93 -1.93 -0.89 0.81 1.22 1.95 4.29

Figures quoted represent past performance, which is no guarantee of future results. Investment returns will fluctuate. The fund’s yield figures more closely reflect the current earnings of the fund than the total return figures. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the Fund's current prospectus.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Wells Fargo Advantage Money Market Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

Returns for periods of less than one year are not annualized.

Money Market Yields as of 05-20-2013 – Share Class A
 
      Annualized Total Returns   Expense Ratios
  7-Day 7-Day Current Last 3     Since Max
     
    Current     Unsubsidized     Months      YTD      1 Year     3 Year     5 Year     10 Year   Inception Sales Charge
Gross % Net % Contract Date
100% Treasury Money Market Fund
Inception 12-03-1990
0.00 -0.71 0.00 0.00 0.00 0.01 0.12 1.26 2.73
0.78 0.65    07-11-2013
California Municipal Money Market Fund
Inception 01-01-1992
0.01 -0.44 0.00 0.00 0.01 0.01 0.20 0.99 1.72
0.63 0.63    07-11-2013
Government Money Market Fund
Inception 11-16-1987
0.01 -0.51 0.00 0.00 0.01 0.01 0.18 1.44 3.45
0.61 0.61    07-11-2013
Money Market Fund
Inception 07-01-1992
0.01 -0.58 0.00 0.00 0.01 0.01 0.28 1.48 2.78
0.81 0.70    07-11-2013
Municipal Money Market Fund
Inception 11-02-1988
0.01 -0.59 0.00 0.00 0.03 0.02 0.26 1.04 2.45
0.82 0.65    07-11-2013
National Tax-Free Money Market Fund
Inception 01-07-1988
0.01 -0.43 0.00 0.00 0.02 0.02 0.25 1.03 2.33
0.63 0.63    05-31-2013
Treasury Plus Money Market Fund
Inception 10-01-1985
0.01 -0.55 0.00 0.00 0.01 0.01 0.12 1.33 3.63
0.62 0.62    07-11-2013

The advisor has committed to certain fee waivers and/or expense reimbursements. Without these reductions, the fund's returns would have been lower. These reductions may be discontinued.

Performance for certain Wells Fargo Advantage Funds® reflects a predecessor fund's performance and may be adjusted to reflect the Wells Fargo Advantage Fund's sales charges and/or expenses. Predecessor fund performance may include performance of an unregistered collective investment fund that was not subject to the same requirements and restrictions as the Wells Fargo Advantage Fund. Predecessor fund information can be found in each fund's prospectus.

 

 

 

Not FDIC Insured • No Bank Guarantee • May Lose Value