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 04/03/1985
Fund without Sales Charge (%) (NAV) 3.33 3.30 3.01 3.69 5.66
Fund with Sales Charge (%) (POP) -0.55 1.99 2.22 3.30 5.54
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 6.36
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 4.78 3.86 3.06 3.88 5.70
Fund with Sales Charge (%) (POP) 0.85 2.54 2.27 3.48 5.59
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 6.41

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 3.33 3.30 3.01 3.69
Fund without Sales Charge (%) (NAV) After Shares Sold 3.08 3.22 3.02 3.66
Fund with Sales Charge (%) (POP) Before Shares Sold -0.55 1.99 2.22 3.30
Fund with Sales Charge (%) (POP) After Shares Sold 0.75 2.20 2.40 3.33
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.78 3.86 3.06 3.88
Fund without Sales Charge (%) (NAV) After Shares Sold 3.97 3.65 3.06 3.80
Fund with Sales Charge (%) (POP) Before Shares Sold 0.85 2.54 2.27 3.48
Fund with Sales Charge (%) (POP) After Shares Sold 1.60 2.62 2.43 3.47

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 6.56 0.68
Fund with Sales Charge (%) (POP) 2.56 -3.09
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

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 04/03/1985
Fund without Sales Charge (%) (NAV) -1.83 -0.24 3.33 10.24 15.96 43.70 589.57
Fund with Sales Charge (%) (POP) -5.51 -3.98 -0.55 6.10 11.61 38.31 563.71
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 768.64
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.72 0.72 4.78 12.03 16.24 46.27 596.19
Fund with Sales Charge (%) (POP) -3.06 -3.06 0.85 7.83 11.88 40.79 570.09
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 779.68

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.20 3.08 3.95
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.89 3.75 3.80
Alpha 0.38 0.34 -0.22
Beta 0.80 0.80 1.00
Sharpe Ratio 0.67 0.80 0.84
Information Ratio -0.02 -0.17 -0.22
Tracking Error 1.02 0.95 1.05
R-Squared 0.96 0.96 0.93

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

3 YR 5 YR 10 YR
Beta Bull 0.91 0.91 1.08
Beta Bear 0.54 0.65 0.84
Bull Bear Capture Ratio 1.11 1.09 0.95
Gains/Losses 2.39 2.44 2.14

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 0.80%
Net Expense Ratio [further-information] 0.80%
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 0.80
Sharpe Ratio 0.67
Standard Deviation 3.20

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index