Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 4.78 3.85 3.55 3.90 5.54
Fund with Sales Charge (%) (POP) 4.78 3.85 3.55 3.90 5.54
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 4.05 3.49 3.21 3.82 5.51
Fund with Sales Charge (%) (POP) 4.05 3.49 3.21 3.82 5.51
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.78 3.85 3.55 3.90
Fund without Sales Charge (%) (NAV) After Shares Sold 3.99 3.69 3.52 3.89
Fund with Sales Charge (%) (POP) Before Shares Sold 4.78 3.85 3.55 3.90
Fund with Sales Charge (%) (POP) After Shares Sold 3.99 3.69 3.52 3.89
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.04 3.49 3.21 3.82
Fund without Sales Charge (%) (NAV) After Shares Sold 3.58 3.43 3.26 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold 4.04 3.49 3.21 3.82
Fund with Sales Charge (%) (POP) After Shares Sold 3.58 3.43 3.26 3.83

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.76 1.10 2.88 1.50 2.10 11.08 -5.23 8.54 12.17 0.11
Fund with Sales Charge (%) (POP) 6.76 1.10 2.88 1.50 2.10 11.08 -5.23 8.54 12.17 0.11
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38

Cumulative Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 5.19 3.41 4.78 11.99 19.08 46.67 490.13
Fund with Sales Charge (%) (POP) 5.19 3.41 4.78 11.99 19.08 46.67 490.13
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.16 1.88 4.05 10.85 17.11 45.52 481.40
Fund with Sales Charge (%) (POP) 2.16 1.88 4.05 10.85 17.11 45.52 481.40
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.75 3.37 4.22
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Sharpe Ratio 0.60 0.73 0.79
Information Ratio -0.97 -0.62 -0.28
Tracking Error 0.68 0.92 1.24

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.01 0.94 1.12
Beta Bear 0.91 0.83 1.01
Bull Bear Capture Ratio 0.94 1.00 0.91
Gains/Losses 2.22 2.32 2.07

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.59%
Net Expense Ratio [further-information] 0.59%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.60
Standard Deviation 3.75

Benchmarks

A benchmark is a comparable broad-based index that can be used to evaluate a fund's performance.

  • Bloomberg Barclays Municipal Bond Index