Mutual Fund Insights: Delaware Tax-Free AZ A Fund (VAZIX)

In-depth Analysis of Delaware Tax-Free AZ A Fund (VAZIX)

3 months 6 months 1 year 3 year 5 year

See Delaware Tax-Free AZ A Fund (VAZIX) performance details as of February 28, 2010

  

Last Trade: $11.36 on 3/19/2010, Change: -0.01 (-0.09%)

  

Fund Manager - Stephen J. Czepiel

Fund Manager Tenure: 2.7 years
Fundmojo Fund Grade: B (Score: 0.64)     (What does this score mean?)

Stephen J. Czepiel is a senior vice president, senior municipal bond trader and head of municipal bond trading with Delaware Investments, his employer since July 2004. Previously, Stephen J. Czepiel was vice president at both Mesirow Financial and Loop Capital Markets. Stephen J. Czepiel began his career in the securities industry in 1982 as a municipal bond trader at Kidder Peabody and now has more than 20 years of experience in municipal securities trading.  Get more insights on Stephen J. Czepiel

  

 What we like about Delaware Tax-Free AZ A Fund (VAZIX)

Data for Delaware Tax-Free AZ A Fund (VAZIX) as of February 28, 2010

• Delaware Tax-Free AZ A Fund (VAZIX) has good mid-term performance (3-year return 3.86% vs 2.40 % Muni Single State Long category average)
• Delaware Tax-Free AZ A Fund (VAZIX) has good Long-term performance (5-year return 3.88% vs 3.41 % Muni Single State Long category average)
• Delaware Tax-Free AZ A Fund (VAZIX) ratio of up-years vs down years is greater than 2
• Delaware Tax-Free AZ A Fund (VAZIX) is less volatile than its peers as it has a 3-year Standard Deviation of 6.25, lower than category average of 7.98
• Delaware Tax-Free AZ A Fund (VAZIX) has a lower management fee than its Muni Single State Long average: 0.75% vs 1.03%

  

 What we are cautious about Delaware Tax-Free AZ A Fund (VAZIX)

Data for Delaware Tax-Free AZ A Fund (VAZIX) as of February 28, 2010

• Delaware Tax-Free AZ A Fund (VAZIX) management has been with Delaware Tax-Free AZ A Fund for only 2.7 years, it is hard to judge manager's ability based on this fund's operation record
• Delaware Tax-Free AZ A Fund (VAZIX) has a less-than-ideal short-term performance (1-year return 10.95% vs 13.50 % Muni Single State Long category average)
• Delaware Tax-Free AZ A Fund (VAZIX) has a Morningstar rating of 3 and below
• Delaware Tax-Free AZ A Fund (VAZIX) has an annual stock turnover rate of 27.00% that is higher than the Muni Single State Long average of 19.68%. This could mean Delaware Tax-Free AZ A is more nimble, but also signal potential high tax impact and high trading fees
• Delaware Tax-Free AZ A Fund (VAZIX) carries a 4.5% load

See Delaware Tax-Free AZ A Fund (VAZIX) performance details as of February 28, 2010

  

  

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Delaware Tax-Free AZ A Fund (VAZIX) Net Asset

Track net asset change of Delaware Tax-Free AZ A fund (VAZIX)

Date	Net Asset
02/2010	$120.90M
01/2010	$108.12M
11/2009	$111.54M

More historic net asset information on Delaware Tax-Free AZ A Fund (VAZIX)

  

Delaware Tax-Free AZ A Fund (VAZIX) Portfolio Allocation

Track portfolio allocation change of Delaware Tax-Free AZ A fund (VAZIX)

Date	Cash	Stock	Bond	Other
09/2009	1.99%	0%	98.01%	0%
06/2009	2.07%	0%	97.93%	0%
03/2009	2.08%	0%	97.92%	0%

Click here to see more historic asset allocation information on Delaware Tax-Free AZ A Fund (VAZIX)

  

Most Recent Top 10 Holdings in Delaware Tax-Free AZ A Fund (VAZIX)

Discover what Delaware Tax-Free AZ A Fund (VAZIX) manager is buying

30-Sep-09 Pinal Cnty Ariz Ctfs Partn Cops 5.125% [3.13%] PHOENIX ARIZ CIVIC IMPT CORP W JUNIOR LI [2.95%] Southern Ariz Cap Facs Fin Cor Rev 5.1% [2.75%] Phoenix Ariz Civic Impt Corp W Wastew 5% [2.37%] Phoenix Ariz Civic Impt Corp A Air 5.25% [2.29%] Salt Verde Finl Corp Sr Gas Re Senior 5% [2.11%] UNIVERSITY MED CTR CORP ARIZ H HOSP REV [2.05%] Maricopa Cnty Ariz Indl Dev Au Health 6% [2.01%] Puerto Rico Sales Tax Fing Cor Rev 5.75% [1.98%] Phoenix Ariz Various P 5% [1.92%]

30-Jun-09 Pinal Cnty Ariz Ctfs Partn Cops 5.125% [3.29%] Phoenix Ariz Civic Impt Corp W Junior 5% [3.05%] Southern Ariz Cap Facs Fin Cor Rev 5.1% [2.96%] Phoenix Ariz Civic Impt Corp W Wastew 5% [2.38%] Phoenix Ariz Civic Impt Corp A Air 5.25% [2.15%] Maricopa Cnty Ariz Indl Dev Au Health 6% [2.03%] Univ Med Ctr Corp Ariz H Hosp 6.5% [2.03%] Phoenix Ariz Various P 5% [2.02%] Yuma Ariz Indl Dev Auth 6.1% [2.02%] Arizona Tourism & Sports Auth 5% [1.93%]

31-Mar-09 Mesa Ariz Indl Dev Auth 5.625% [7.73%] Pinal Cnty Ariz Ctfs Partn Cops 5.125% [3.32%] Phoenix Ariz Civic Impt Corp W Junior 5% [3.08%] Southern Ariz Cap Facs Fin Cor Rev 5.1% [3.01%] Phoenix Ariz Civic Impt Corp W Wastew 5% [2.43%] Phoenix Ariz Civic Impt Corp A Air 5.25% [2.11%] Yuma Ariz Indl Dev Auth 6.1% [2.04%] Phoenix Ariz Various P 5% [2.03%] Arizona Tourism & Sports Auth 5% [2%] Phoenix Ariz Civic Impt Corp T Rev Bd 5% [1.97%]

Click here for Stock Holding Change Map in Delaware Tax-Free AZ A Fund (VAZIX)

  

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See more information on Delaware Tax-Free AZ A Fund (VAZIX)

• Delaware Tax-Free AZ A Fund Insights
• Delaware Tax-Free AZ A Fund Performance Data
• Delaware Tax-Free AZ A Fund News
• Delaware Tax-Free AZ A Fund Score Explaination
• Delaware Tax-Free AZ A Fund Manager Information
• Historic Delaware Tax-Free AZ A Fund Asset Allocation Report
• Historic Delaware Tax-Free AZ A Fund Top 10 Holding Tracking
• Historic Delaware Tax-Free AZ A Fund Asset Under Management Tracking