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) 7.55 3.89 2.90 3.84 5.39
Fund with Sales Charge (%) (POP) 3.52 2.57 2.11 3.45 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) 7.91 2.53 3.14 3.69 5.42
Fund with Sales Charge (%) (POP) 3.86 1.23 2.35 3.29 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 7.55 3.88 2.90 3.84
Fund without Sales Charge (%) (NAV) After Shares Sold 5.72 3.72 3.00 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold 3.52 2.57 2.11 3.45
Fund with Sales Charge (%) (POP) After Shares Sold 3.28 2.70 2.38 3.50
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.91 2.53 3.14 3.69
Fund without Sales Charge (%) (NAV) After Shares Sold 5.95 2.67 3.20 3.71
Fund with Sales Charge (%) (POP) Before Shares Sold 3.86 1.24 2.35 3.29
Fund with Sales Charge (%) (POP) After Shares Sold 3.51 1.66 2.58 3.38

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.08
Fund with Sales Charge (%) (POP) -3.22
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) -0.58 6.49 7.55 12.11 15.35 45.80 443.17
Fund with Sales Charge (%) (POP) -4.30 2.49 3.52 7.91 11.03 40.34 422.80
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) 1.59 6.50 7.91 7.79 16.71 43.67 443.22
Fund with Sales Charge (%) (POP) -2.22 2.50 3.86 3.75 12.33 38.28 422.85
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) 2.19 2.69 3.66
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Alpha -0.60 -0.31 -0.61
Beta 0.85 0.86 1.04
Sharpe Ratio 1.04 0.70 0.90
Information Ratio -1.81 -0.93 -0.54
Tracking Error 0.63 0.72 0.93
R-Squared 0.94 0.95 0.94

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

3 YR 5 YR 10 YR
Beta Bull 0.87 0.94 1.05
Beta Bear 0.51 0.80 1.05
Bull Bear Capture Ratio 0.88 0.95 0.89
Gains/Losses 3.27 2.29 2.22

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

Gross Expense Ratio 0.88%
Net Expense Ratio [further-information] 0.88%
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 0.85
Sharpe Ratio 1.04
Standard Deviation 2.19

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index