Medalist Funds Fixed Income Annualized Total Return % Name Morningstar Category Morningstar Analyst Rating Morningstar Fee Level Morningstar Rating Neuberger Berman Strategic Income I NSTLX Multisector Bond * Low PIMCO Diversified Inc Instl PDIIX Multisector Bond * PIMCO Income Instl PIMIX Multisector Bond Pioneer Strategic Income A PSRAX * Closed to New Investors 1Yr 3Yr 5Yr QQQQ 3.19 2.84 2.91 No Below Avg QQQQQ 4.75 5.42 4.21 No * Low QQQQQ 5.27 5.84 5.72 No Multisector Bond ´ Average QQQ 2.33 2.91 2.85 No T. Rowe Price Spectrum Income RPSIX Multisector Bond ´ Below Avg QQQQ 4.30 3.84 3.52 No American Funds Tax-Exmpt CA A TAFTX Muni California Interm ´ Below Avg QQQQQ 3.51 2.30 3.02 No Vanguard CA Interm-Term Tax-Exmpt VCAIX Muni California Interm * Low QQQQ 2.34 1.99 2.62 No Fidelity® California Municipal Income FCTFX Muni California Long Œ Low QQQ 2.74 2.08 3.07 No MainStay MacKay CA Tax Free Opps I MCOIX Muni California Long ´ Low QQQQ 4.73 3.80 4.26 No Vanguard CA Long-Term Tax-Exmpt Inv VCITX Muni California Long * Low QQQ 3.66 2.75 3.52 No American Funds Tax-Exempt Bond A AFTEX Muni National Interm ´ Below Avg QQQQQ 3.12 2.27 2.74 No BlackRock National Municipal Instl MANLX Muni National Interm * Low QQQQQ 3.11 2.34 2.90 No Fidelity® Interm Muni Inc FLTMX Muni National Interm Œ Low QQQ 2.33 1.61 2.05 No Franklin Federal Interm-Term T/F Inc A FKITX Muni National Interm ´ Below Avg QQQ 1.14 1.09 1.63 No Nuveen Interm Duration Muni Bd I NUVBX Muni National Interm * Below Avg QQQQ 3.56 2.29 2.58 No T. Rowe Price Summit Muni Intm Inv PRSMX Muni National Interm Œ Below Avg QQQ 1.78 1.67 2.17 No USAA Tax Exempt Interm-Term USATX Muni National Interm ´ Below Avg QQQQQ 3.73 2.11 2.45 No Vanguard High-Yield Tax-Exempt VWAHX Muni National Interm * Low QQQQQ 5.00 3.45 3.77 No Vanguard Interm-Term Tx-Ex Inv VWITX Muni National Interm * Low QQQQ 1.96 1.83 2.28 No Vanguard Tax-Exempt Bond Index Inv VTEBX Muni National Interm * Low - 2.36 - - No Wells Fargo Interm Tax/AMT-Fr A WFTAX Muni National Interm ´ Average QQQ 2.22 1.28 1.87 No Western Asset Interm-Trm Muni A SBLTX Muni National Interm ´ Average QQQQ 2.09 1.50 1.69 No Deutsche Managed Municipal Bond S SCMBX Muni National Long ´ Below Avg QQQQ 2.63 2.06 2.72 No Fidelity® Municipal Income FHIGX Muni National Long Œ Low QQQ 3.39 2.30 3.01 No Fidelity® Tax-Free Bond FTABX Muni National Long Œ Low QQQQ 3.49 2.39 3.08 No Franklin Federal Tax-Free Income A FKTIX Muni National Long ´ Below Avg QQQ 1.64 1.56 2.39 No MainStay MacKay Tax Free Bond B MKTBX Muni National Long ´ Above Avg QQQ 3.38 2.36 2.94 Yes MFS® Municipal Income B MMIBX Muni National Long * High QQ 2.58 1.94 2.11 No Nuveen All-American Municipal Bond A FLAAX Muni National Long ´ Average QQQQQ 4.66 3.11 3.58 No T. Rowe Price Tax-Free Income Inv PRTAX Muni National Long Œ Low QQQ 2.94 2.14 2.76 No Vanguard Long-Term Tax-Exempt VWLTX Muni National Long * Low QQQQ 3.59 2.80 3.34 No Wells Fargo Municipal Bond Admin WMFDX Muni National Long * Below Avg QQQQQ 3.99 2.79 3.45 No Western Asset Managed Municipals A SHMMX Muni National Long ´ Below Avg QQQQ 2.94 1.97 2.54 No AB Diversified Municipal SNDPX Muni National Short ´ Below Avg QQQQQ 0.82 1.02 1.26 No American Funds Ltd-Term Tx-Ex Bd A LTEBX Muni National Short ´ Average QQQQQ 1.18 0.95 1.16 No Fidelity® Limited Trm Muni Income FSTFX Muni National Short Œ Below Avg QQQQ 0.93 0.79 0.94 No *Funds closed to new investors may still be accepting money from existing fundholders. global.morningstar.com/Morningstarmagazine 17http://global.morningstar.com/Morningstarmagazine