Average Annual Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 1.58 3.18 3.12 4.42 5.42
Fund with Sales Charge (%) (POP) -2.22 1.87 2.34 4.03 5.32
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 2.65 3.44 3.08 4.29
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 3.98 3.99 3.28 4.77 5.47
Fund with Sales Charge (%) (POP) 0.08 2.68 2.49 4.37 5.37
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.21 4.05 3.19 4.61

After-Tax Average Annual Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.58 3.18 3.12 4.42
Fund without Sales Charge (%) (NAV) After Shares Sold 2.18 3.25 3.22 4.36
Fund with Sales Charge (%) (POP) Before Shares Sold -2.23 1.87 2.34 4.03
Fund with Sales Charge (%) (POP) After Shares Sold -0.12 2.23 2.60 4.03
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.98 3.99 3.28 4.77
Fund without Sales Charge (%) (NAV) After Shares Sold 3.67 3.87 3.34 4.64
Fund with Sales Charge (%) (POP) Before Shares Sold 0.08 2.68 2.49 4.37
Fund with Sales Charge (%) (POP) After Shares Sold 1.32 2.84 2.71 4.30

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 8.99 0.40
Fund with Sales Charge (%) (POP) 4.90 -3.87
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 1.11

Cumulative Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) -5.21 -3.00 1.58 9.85 16.61 54.18 878.84
Fund with Sales Charge (%) (POP) -8.77 -6.64 -2.22 5.73 12.23 48.40 842.14
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -3.29 -1.56 2.65 10.68 16.38 52.22
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) -1.40 -1.40 3.98 12.46 17.51 59.35 895.04
Fund with Sales Charge (%) (POP) -5.10 -5.10 0.08 8.25 13.11 53.37 857.72
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -0.49 -0.49 4.21 12.66 16.99 56.91

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.18 4.93 5.05
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 3.91 3.81 4.08
Alpha -0.76 -0.55 -0.59
Beta 1.30 1.27 1.20
Sharpe Ratio 0.43 0.57 0.83
Information Ratio -0.08 0.09 0.11
Tracking Error 1.53 1.45 1.48
R-Squared 0.96 0.96 0.94

ADDITIONAL RISK STATISTICSAs of 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.20 1.19 1.09
Beta Bear 1.60 1.38 1.29
Bull Bear Capture Ratio 0.87 0.91 0.91
Gains/Losses 1.88 1.96 2.09

SALES CHARGE, EXPENSES & FEES As of 08/01/2019 (updated annually)

Gross Expense Ratio 0.76%
Net Expense Ratio [further-information] 0.76%
Max Initial Sales Charge 3.75%
CDSC 1.00%

Volatility Measures [further-information] As of 05/31/2020 Updated Monthly, based on a 3-year period

Beta 1.30
Sharpe Ratio 0.43
Standard Deviation 5.18

Benchmarks

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

  • Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index