Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 2.88 2.79 2.52 2.86 4.78
Fund with Sales Charge (%) (POP) -0.98 1.49 1.73 2.46 4.65
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.80
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 2.88 2.79 2.52 2.86 4.78
Fund with Sales Charge (%) (POP) -0.98 1.49 1.73 2.46 4.65
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.80

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.88 2.79 2.52 2.86
Fund without Sales Charge (%) (NAV) After Shares Sold 2.84 2.86 2.68 3.01
Fund with Sales Charge (%) (POP) Before Shares Sold -0.98 1.49 1.73 2.46
Fund with Sales Charge (%) (POP) After Shares Sold 0.51 1.85 2.07 2.69
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.88 2.79 2.52 2.86
Fund without Sales Charge (%) (NAV) After Shares Sold 2.84 2.86 2.68 3.01
Fund with Sales Charge (%) (POP) Before Shares Sold -0.98 1.49 1.73 2.46
Fund with Sales Charge (%) (POP) After Shares Sold 0.51 1.85 2.07 2.69

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 4.97 0.92
Fund with Sales Charge (%) (POP) 1.04 -2.86
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 1.87 1.45 2.88 8.61 13.23 32.53 340.47
Fund with Sales Charge (%) (POP) -1.95 -2.35 -0.98 4.54 8.98 27.56 323.95
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 499.11
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 1.87 1.45 2.88 8.61 13.23 32.53 340.47
Fund with Sales Charge (%) (POP) -1.95 -2.35 -0.98 4.54 8.98 27.56 323.95
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 499.11

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.95 2.82 3.76
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Alpha -0.65 -0.46 -1.06
Beta 0.73 0.71 0.93
Sharpe Ratio 0.50 0.60 0.61
Information Ratio -1.20 -0.99 -1.04
Tracking Error 1.20 1.34 1.32
R-Squared 0.96 0.92 0.88

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.70 0.67 0.91
Beta Bear 0.76 0.73 0.88
Bull Bear Capture Ratio 0.91 0.93 0.80
Gains/Losses 2.22 2.18 1.82

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.93%
Net Expense Ratio [further-information] 0.93%
Max Initial Sales Charge 3.75%
CDSC 1.00%

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Beta 0.73
Sharpe Ratio 0.50
Standard Deviation 2.95

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index