Delaware Investments National Municipal Income Fund (VFL)

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Delaware Investments National Municipal Income Fund (VFL) is up 2.0% since the beginning of the year. At $10 per share, VFL is trading just below its 52-week high of $10. Investors who bought $1,000 worth of VFL shares 5 years ago would now be looking at an investment worth $952.

Delaware Investments National Municipal Income Fund (VFL) has returned 1.96% so far this year and 12.77% over the past 12 months. Over the last ten years, VFL has returned 1.62% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.

Based on dividend-adjusted daily data since Aug 18, 1995, VFL's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.

Historically, 57% of months were positive and 43% were negative. The best month was Jan 2009 with a return of +20.2%, while the worst month was Sep 2008 at -18.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 10 months.

On a daily basis, VFL closed higher 46% of trading days. The best single day was Oct 13, 2008 with a return of +9.9%, while the worst single day was Mar 18, 2020 at -15.9%.

Delaware Investments National Municipal Income Fund has an annualized alpha of 4.37%, beta of 0.09, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since August 21, 1995.

• This stock participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (23.67%) than losses (18.89%) - typical of diversified or defensive assets.
• Beta of 0.09 may look defensive, but with R2 of 0.02 this stock is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this stock's risk.
• R2 of 0.02 means this stock moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

VFL ranks 78 for risk / return — better than 78% of stocks on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Delaware Investments National Municipal Income Fund (VFL) and compare them to S&P 500 Index.

Delaware Investments National Municipal Income Fund provided a 5.87% dividend yield over the last twelve months, with an annual payout of $0.60 per share. The company has been increasing its dividends for 2 consecutive years.

The table displays the monthly dividend distributions for Delaware Investments National Municipal Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Delaware Investments National Municipal Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Delaware Investments National Municipal Income Fund was 45.27%, occurring on Dec 4, 2008. Recovery took 706 trading sessions.

The current Delaware Investments National Municipal Income Fund drawdown is 9.53%.

The chart below shows the rolling one-month volatility.

The chart below illustrates the trends in the financial health of Delaware Investments National Municipal Income Fund over time, highlighting three key metrics: Total Revenue, Earnings Before Interest and Taxes (EBIT), and Net Income.

The Valuation section provides an overview of how Delaware Investments National Municipal Income Fund is priced in the market compared to other companies in the Asset Management industry. It includes key financial ratios that help investors assess whether the stock is undervalued or overvalued.