<SEC-DOCUMENT>0000940394-23-000951.txt : 20230720
<SEC-HEADER>0000940394-23-000951.hdr.sgml : 20230720
<ACCEPTANCE-DATETIME>20230720094350
ACCESSION NUMBER:		0000940394-23-000951
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230720
DATE AS OF CHANGE:		20230720

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Vance National Municipal Opportunities Trust
		CENTRAL INDEX KEY:			0001454741
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-265180
		FILM NUMBER:		231098317

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Eaton Vance National Municipal Trust
		DATE OF NAME CHANGE:	20090126
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>eot424b3final.htm
<DESCRIPTION>EATON VANCE NATIONAL MUNICIPAL OPPORTUNITIES TRUST PRO SUPPLEMENT DTD 7-20-23
<TEXT>
<HTML>
<HEAD>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt"><IMG SRC="eotsupp_001.jpg" ALT="Eaton Vance Logo - NEW" STYLE="height: 37px; width: 180px"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: right"><B>Filed pursuant to Rule 424(b)(3)<BR>
File No. 333- 265180</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 15pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 15pt; text-align: center"><B>EATON VANCE NATIONAL MUNICIPAL OPPORTUNITIES
TRUST<BR>
Supplement to Prospectus dated July 28, 2022</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>The following replaces the Financial Highlights contained in the Prospectus:</B></P>

<P STYLE="font: 10pt NewsGoth Lt BT; margin: 3pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt NewsGoth XCn BT; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">Year Ended March 31,</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 45%; border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2023</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2022</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2021</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2020</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2019</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Net asset value &ndash; Beginning of year</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$20.070</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.730</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$20.530</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.090</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.320</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth Lt BT">Income (Loss) From Operations</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Net investment income<FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$<FONT STYLE="letter-spacing: -0.05pt">0.722</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$<FONT STYLE="letter-spacing: -0.05pt">0.733</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$<FONT STYLE="letter-spacing: -0.05pt">0.780</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.835</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$<FONT STYLE="letter-spacing: -0.05pt">0.955</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Net realized and unrealized gain (loss)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(1.722)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(1.652)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">1.183</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.412)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.057)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total income (loss) from operations</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.000)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.919)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$1.963</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.423</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.898</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth Lt BT">Less Distributions</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">From net investment income</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.750)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.753)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.764)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.841)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.021)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">From net realized gain</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.078)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.107)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Tax return of capital</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.065)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total distributions</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.750)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.753)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.764)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.984)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.128)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Premium from common shares sold through shelf offering<SUP>(1)</SUP></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; text-indent: 1.85pt; line-height: 10pt">$ &mdash;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.012</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.001</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.001</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$ &mdash;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Net asset value &ndash; End of year</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$18.320</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$20.070</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.730</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$20.530</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.090</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Market value &ndash; End of year</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$17.670</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$19.050</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$22.500</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$19.500</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.120</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total Investment Return on Net Asset Value<FONT STYLE="font-family: NewsGoth BdXCn BT,sans-serif"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(4.73)%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(4.36)%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">9.87%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">1.90%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">4.54%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total Investment Return on Market Value<FONT STYLE="font-family: NewsGoth BdXCn BT,sans-serif"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(3.19)%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(12.33)%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">19.77%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(3.35)%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">7.98%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth Lt BT">Ratios/Supplemental Data</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 8.1pt; text-indent: -5.2pt; line-height: 10pt">Net assets, end of year (000&rsquo;s omitted)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$286,208</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$313,625</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$333,178</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$314,321</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$321,241</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 8.1pt; text-indent: -4.5pt; line-height: 10pt">Ratios (as a percentage of average daily net assets):</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Expenses excluding interest and fees</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.77%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.73%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.73%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.75%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.76%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Interest and fee expense<SUP>(4)</SUP></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.32%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.06%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.05%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.17%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.22%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Total expenses</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">1.09%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.79%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.78%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.92%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.98%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Net investment income</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">3.92%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">3.35%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">3.67%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">3.88%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">4.55%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Portfolio Turnover</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">45%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">13%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">13%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">44%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">17%</TD></TR>
  </TABLE>
<P STYLE="font: 9pt NewsGoth XCn BT,sans-serif; margin: 2pt 13.5pt 0 0; text-align: right; text-indent: -13.5pt"><SUP>(See related footnotes.)</SUP></P>

<P STYLE="font: 10pt/107% NewsGoth Lt BT; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/107% NewsGoth Lt BT; margin: 0 0 8pt">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt NewsGoth XCn BT; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">Year Ended March 31,</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 40%; border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2018</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2017</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2016</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2015</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; font-family: NewsGoth BdXCn BT; text-align: center; line-height: 10pt">2014</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Net asset value &ndash; Beginning of year</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.700</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$22.890</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$23.050</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.510</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$22.700</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth Lt BT">Income (Loss) From Operations</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Net investment income<FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$<FONT STYLE="letter-spacing: -0.05pt">0.986</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$<FONT STYLE="letter-spacing: -0.05pt">1.016</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$1.065</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$1.087</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$1.096</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Net realized and unrealized gain (loss)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.213)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.969)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.190)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">1.479</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(1.270)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total income (loss) from operations</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.773</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.047</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.875</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$2.566</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(0.174)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth Lt BT">Less Distributions</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">From net investment income</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.031)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.030)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.030)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.030)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.030)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">From net realized gain</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.122)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.207)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.005)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Tax return of capital</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&mdash;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total distributions</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.153)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.237)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.035)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.030)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$(1.030)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Anti-dilutive effect of share repurchase program<SUP>(1)</SUP></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$ &mdash;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$ &mdash;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$ &mdash;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$0.004</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$ 0.014</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Net asset value &ndash; End of year</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.320</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.700</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$22.890</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$23.050</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.510</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Market value &ndash; End of year</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$20.670</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.520</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$22.310</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$21.200</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$19.390</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total Investment Return on Net Asset Value<FONT STYLE="font-family: NewsGoth BdXCn BT,sans-serif"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">3.59%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.29%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">4.27%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">12.68%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(0.02)%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth BdXCn BT; line-height: 10pt">Total Investment Return on Market Value<FONT STYLE="font-family: NewsGoth BdXCn BT,sans-serif"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">1.27%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">2.04%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">10.50%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">14.96%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">(8.05)%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; font-family: NewsGoth Lt BT">Ratios/Supplemental Data</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 8.1pt; text-indent: -5.2pt; line-height: 10pt">Net assets, end of year (000&rsquo;s omitted)</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$324,587</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$330,183</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$348,145</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$350,611</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">$327,723</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 8.1pt; text-indent: -4.5pt; line-height: 10pt">Ratios (as a percentage of average daily net assets):</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Expenses excluding interest and fees<FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.76%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.75%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.76%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.77%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.79%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Interest and fee expense<SUP>(4)</SUP></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.20%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.16%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.08%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.09%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.11%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Total expenses<FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.96%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.91%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.84%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.86%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">0.90%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 3pt 5.4pt 3pt 2.9pt; text-indent: 5.2pt; line-height: 10pt">Net investment income</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">4.52%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">4.50%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">4.70%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; text-indent: 1.5pt; line-height: 10pt">4.83%</TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center; line-height: 10pt">5.17%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt 3pt 2.9pt; line-height: 10pt">Portfolio Turnover</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">17%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">11%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">6%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">13%</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5.4pt; text-align: center; line-height: 10pt">12%</TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/10pt NewsGoth XCn BT; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(1)</SUP></FONT></TD><TD>Computed using average shares outstanding.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/10pt NewsGoth XCn BT; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(2)</SUP></FONT></TD><TD>Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions
reinvested. Distributions are assumed to be reinvested at prices obtained under the Trust&rsquo;s dividend reinvestment plan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/10pt NewsGoth XCn BT; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(3)</SUP></FONT></TD><TD>Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were
earned on cash deposit balances, were discontinued by the custodian.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/10pt NewsGoth XCn BT; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: NewsGoth XCn BT,sans-serif"><SUP>(4)</SUP></FONT></TD><TD>Interest and fee expense relates to the liability for floating rate notes issued in conjunction with residual interest bond transactions.</TD></TR></TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">July 20, 2023</P>


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