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 12/31/1969
Fund without Sales Charge (%) (NAV) 3.85 3.66 4.79 5.58 7.45
Fund with Sales Charge (%) (POP) -0.05 2.35 3.99 5.18 7.37
ICE BofA US High Yield Constrained Index (%) 2.99 4.12 5.67 6.59
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 12/31/1969
Fund without Sales Charge (%) (NAV) -0.26 2.45 3.42 5.50 7.37
Fund with Sales Charge (%) (POP) -4.00 1.15 2.63 5.10 7.29
ICE BofA US High Yield Constrained Index (%) -1.17 2.92 4.57 6.46

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 1.58 1.31 2.28 2.94
Fund without Sales Charge (%) (NAV) After Shares Sold 2.23 1.76 2.51 3.14
Fund with Sales Charge (%) (POP) Before Shares Sold -2.23 0.03 1.50 2.55
Fund with Sales Charge (%) (POP) After Shares Sold -0.08 0.77 1.90 2.81
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -2.42 0.13 0.94 2.86
Fund without Sales Charge (%) (NAV) After Shares Sold -0.15 0.88 1.49 3.11
Fund with Sales Charge (%) (POP) Before Shares Sold -6.08 -1.13 0.17 2.47
Fund with Sales Charge (%) (POP) After Shares Sold -2.37 -0.10 0.89 2.78

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 14.26 -3.75
Fund with Sales Charge (%) (POP) 9.98 -7.36
ICE BofA US High Yield Constrained Index (%) 14.41 -2.27

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 12/31/1969
Fund without Sales Charge (%) (NAV) 9.85 0.49 3.85 11.40 26.36 72.18 3,692.91
Fund with Sales Charge (%) (POP) 5.73 -3.28 -0.05 7.22 21.62 65.72 3,550.68
ICE BofA US High Yield Constrained Index (%) 10.54 -0.33 2.99 12.89 31.79 89.37
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 12/31/1969
Fund without Sales Charge (%) (NAV) 8.83 -3.93 -0.26 7.52 18.30 70.82 3,525.87
Fund with Sales Charge (%) (POP) 4.75 -7.54 -4.00 3.49 13.86 64.42 3,389.90
ICE BofA US High Yield Constrained Index (%) 9.54 -4.84 -1.17 9.02 25.05 87.02

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 8.50 8.46 7.62
Standard Deviation (ICE BofA US High Yield Constrained Index) 9.09 8.13 7.07
Alpha -0.29 -0.88 -1.22
Beta 0.93 1.01 1.05
Sharpe Ratio 0.24 0.43 0.66
Information Ratio -0.33 -0.46 -0.60
Tracking Error 1.40 1.91 1.69
R-Squared 0.98 0.95 0.95

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

3 YR 5 YR 10 YR
Beta Bull 0.99 1.06 1.10
Beta Bear 0.83 0.85 0.87
Bull Bear Capture Ratio 0.95 0.89 0.86
Gains/Losses 1.54 1.63 1.79

SALES CHARGE, EXPENSES & FEES As of 10/01/2019 (updated annually)

Gross Expense Ratio 0.87%
Net Expense Ratio [further-information] 0.86%
Max Initial Sales Charge 3.75%
CDSC 1.00%

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

Beta 0.93
Sharpe Ratio 0.24
Standard Deviation 8.50

Benchmarks

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

  • ICE BofA US High Yield Constrained Index