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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.27 2.56 2.32 3.55 5.25
Fund with Sales Charge (%) (POP) -2.53 1.26 1.54 3.15 5.12
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.39 3.32 2.54 3.82 5.31
Fund with Sales Charge (%) (POP) -0.49 2.01 1.76 3.43 5.19
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.85

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 1.27 2.56 2.32 3.55
Fund without Sales Charge (%) (NAV) After Shares Sold 1.88 2.71 2.55 3.61
Fund with Sales Charge (%) (POP) Before Shares Sold -2.53 1.26 1.54 3.15
Fund with Sales Charge (%) (POP) After Shares Sold -0.41 1.70 1.94 3.28
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.39 3.32 2.54 3.82
Fund without Sales Charge (%) (NAV) After Shares Sold 3.18 3.29 2.72 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold -0.49 2.01 1.76 3.43
Fund with Sales Charge (%) (POP) After Shares Sold 0.84 2.27 2.10 3.50

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 6.84 0.86
Fund with Sales Charge (%) (POP) 2.84 -2.92
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 09/01/1987
Fund without Sales Charge (%) (NAV) -4.07 -2.37 1.27 7.87 12.16 41.70 431.49
Fund with Sales Charge (%) (POP) -7.67 -6.03 -2.53 3.83 7.95 36.39 411.55
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -0.74 -0.74 3.39 10.30 13.36 45.54 440.33
Fund with Sales Charge (%) (POP) -4.46 -4.46 -0.49 6.17 9.11 40.08 420.07
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 536.49

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.87 3.51 4.18
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.89 3.75 3.80
Alpha -0.52 -0.56 -0.57
Beta 0.99 0.91 1.06
Sharpe Ratio 0.41 0.52 0.76
Information Ratio -1.06 -0.95 -0.34
Tracking Error 0.54 0.85 1.09
R-Squared 0.98 0.95 0.94

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

3 YR 5 YR 10 YR
Beta Bull 0.98 0.93 1.09
Beta Bear 1.11 0.92 1.07
Bull Bear Capture Ratio 0.93 0.91 0.91
Gains/Losses 1.98 2.00 2.03

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

Gross Expense Ratio 0.81%
Net Expense Ratio [further-information] 0.81%
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 0.99
Sharpe Ratio 0.41
Standard Deviation 3.87

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index