Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.70 3.97 3.04 4.04 5.39
Fund with Sales Charge (%) (POP) 3.66 2.66 2.25 3.64 5.26
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.92
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.89 2.64 3.24 3.83 5.41
Fund with Sales Charge (%) (POP) 3.84 1.34 2.46 3.44 5.29
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

After-Tax Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.70 3.97 3.04 4.04
Fund without Sales Charge (%) (NAV) After Shares Sold 5.81 3.81 3.12 4.01
Fund with Sales Charge (%) (POP) Before Shares Sold 3.66 2.66 2.25 3.64
Fund with Sales Charge (%) (POP) After Shares Sold 3.37 2.78 2.49 3.68
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.89 2.64 3.24 3.83
Fund without Sales Charge (%) (NAV) After Shares Sold 5.95 2.78 3.28 3.84
Fund with Sales Charge (%) (POP) Before Shares Sold 3.84 1.34 2.46 3.44
Fund with Sales Charge (%) (POP) After Shares Sold 3.51 1.76 2.66 3.51

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.86
Fund with Sales Charge (%) (POP) -3.43
Bloomberg Barclays Municipal Bond Index (%) 1.28

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -0.61 6.60 7.70 12.40 16.14 48.60 443.11
Fund with Sales Charge (%) (POP) -4.34 2.60 3.66 8.19 11.79 43.03 422.74
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 538.58
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.71 6.43 7.89 8.13 17.30 45.68 442.26
Fund with Sales Charge (%) (POP) -2.11 2.44 3.84 4.07 12.90 40.22 421.93
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.16 2.69 3.80
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Alpha -0.45 -0.14 -0.53
Beta 0.83 0.85 1.07
Sharpe Ratio 1.10 0.75 0.92
Information Ratio -1.50 -0.61 -0.28
Tracking Error 0.70 0.87 1.09
R-Squared 0.93 0.92 0.92

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.85 0.90 1.11
Beta Bear 0.92 0.77 1.08
Bull Bear Capture Ratio 0.95 0.98 0.92
% of Positive Months 72.22 70.00 67.50
Gains/Losses 3.62 2.37 2.30
Maximum Drawdown
1.39 3.98 8.44

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 0.75%

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Beta 0.83
Sharpe Ratio 1.10
Standard Deviation 2.16

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index