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Not sure i understand the issue:

Current yield is just current (if I remember right, average for the last 5 days). Total return for 1 year will depend on the average yield over the year, compounding if your dividends are reinvested, and whether the fund's Net Asset Value is higher or lower.

I can get a 4% 1 year CD, which would be roughly equivalent to a 2.8% tax exempt yield in a 30% tax bracket. The question is where will the Net Asset Value of the fund be a year from now?
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