It's all about timing, take a look at the fund when they bought it (2008) and where it is now. It took a HUUUUUUUUUGE dump in 2008 right after they bought it and never fully recovered. it's been doing OK for the past 2 years but before that it totally sucked.
There are a go-zillion different mutual funds out there, most do well. Some do not.These are tax-free municipal bond funds, extremely conservative to a fault.
Is your neighbor managing this for themselves? If so, I suggest they consult a pro.
If they are working with a pro and this is the result, they need a better advisor.
Heck, I could do better than that and I know nuthin.
