Federated Municipal High Yield Advantage Fund Class C Shares
Information as of 10/31/2009
Benchmark 50% Barclays Capital High Yield Municipal Index/50% Barclays Capital Municipal Bond Index Assets (Portfolio) $451,210,653 Assets (Share Class) $43,952,611 Symbol FMNCX Fund Number(s) 214 Newspaper Listing MunHYAdC CUSIP 313923849 Performance Inception Date 08/05/1996 Fiscal Year-End 8/31 Current Prospectus Date 10/31/2008 Fund Description The fund seeks to provide a high level of current income which is generally exempt from federal regular income tax. The fund pursues its objective by investing at least a majority of its assets in a portfolio of: (1) long-term, tax-exempt securities, and (2) medium-quality or non investment-grade, tax-exempt securities.		Key Investment Team Members Mary Jo Ochson, CFA Lee R. Cunningham II Morningstar Category High Yield Municipal Morningstar Style Investment Objective Seeks to provide a high level of current income which is generally exempt from federal regular income tax Investment Concentration Invests at least a majority of its assets in a portfolio of: (1) long-term, tax-exempt securities, and (2) medium-quality or non investment-grade, tax-exempt securities.
Performance data quoted represents past performance which is no guarantee of future results.
The fund is the successor to the Federated Municipal High Yield Advantage Fund, Inc. pursuant to a reorganization that took place as of the close of business November 10, 2006. Bond prices are sensitive to changes in interest rates and a rise in interest rates can cause a decline in their prices. High yield, lower-rated securities generally entail greater market, credit/default and liquidity risks, and may be more volatile than investment grade securities. Interest income from the fund’s investments may be subject to the federal alternative minimum tax for individuals and corporations (AMT). Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. To obtain a prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the prospectus before investing. For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary. Federated Securities Corp., Distributor
Not FDIC Insured May Lose Value No Bank Guarantee

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