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 03/18/1986
Fund without Sales Charge (%) (NAV) 8.17 4.50 3.61 5.02 6.01
Fund with Sales Charge (%) (POP) 4.11 3.18 2.82 4.62 5.89
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.93
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 7.95 2.67 3.81 4.80 6.04
Fund with Sales Charge (%) (POP) 3.90 1.37 3.02 4.40 5.92
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.95

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 8.17 4.50 3.61 5.02
Fund without Sales Charge (%) (NAV) After Shares Sold 6.66 4.48 3.77 4.97
Fund with Sales Charge (%) (POP) Before Shares Sold 4.12 3.18 2.82 4.62
Fund with Sales Charge (%) (POP) After Shares Sold 4.19 3.44 3.14 4.63
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.95 2.67 3.81 4.80
Fund without Sales Charge (%) (NAV) After Shares Sold 6.55 3.04 3.93 4.78
Fund with Sales Charge (%) (POP) Before Shares Sold 3.90 1.37 3.02 4.40
Fund with Sales Charge (%) (POP) After Shares Sold 4.09 2.02 3.30 4.44

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.88
Fund with Sales Charge (%) (POP) -2.45
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 03/18/1986
Fund without Sales Charge (%) (NAV) -0.54 7.35 8.17 14.13 19.40 63.25 614.74
Fund with Sales Charge (%) (POP) -4.27 3.32 4.11 9.85 14.92 57.13 587.94
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 597.23
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 1.75 7.33 7.95 8.22 20.57 59.84 614.61
Fund with Sales Charge (%) (POP) -2.06 3.30 3.90 4.17 16.04 53.84 587.81
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 594.25

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.25 3.18 4.41
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Alpha 0.09 0.06 -0.17
Beta 0.82 0.99 1.23
Sharpe Ratio 1.29 0.82 1.02
Information Ratio -0.51 0.04 0.43
Tracking Error 1.00 1.02 1.59
R-Squared 0.84 0.90 0.90

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

3 YR 5 YR 10 YR
Beta Bull 0.78 0.92 1.18
Beta Bear 0.78 1.07 1.37
Bull Bear Capture Ratio 1.06 1.02 0.98
Gains/Losses 3.76 2.41 2.41

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 0.82
Sharpe Ratio 1.29
Standard Deviation 2.25

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index