Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/16/1995
Fund without Sales Charge (%) (NAV) 3.32 3.30 4.44 5.18 5.83
Fund with Sales Charge (%) (POP) 2.34 3.30 4.44 5.18 5.83
ICE BofA US High Yield Constrained Index (%) 2.99 4.12 5.67 6.59
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/16/1995
Fund without Sales Charge (%) (NAV) -0.67 2.29 3.10 5.05 5.67
Fund with Sales Charge (%) (POP) -1.62 2.29 3.10 5.05 5.67
ICE BofA US High Yield Constrained Index (%) -1.17 2.92 4.57 6.46

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.29 1.19 2.18 2.78
Fund without Sales Charge (%) (NAV) After Shares Sold 1.92 1.59 2.36 2.94
Fund with Sales Charge (%) (POP) Before Shares Sold 0.30 1.19 2.18 2.78
Fund with Sales Charge (%) (POP) After Shares Sold 1.34 1.59 2.36 2.94
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -2.61 0.22 0.87 2.65
Fund without Sales Charge (%) (NAV) After Shares Sold -0.40 0.86 1.35 2.86
Fund with Sales Charge (%) (POP) Before Shares Sold -3.55 0.22 0.87 2.65
Fund with Sales Charge (%) (POP) After Shares Sold -0.96 0.86 1.35 2.86

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 14.12 -4.17 6.66 18.47 -11.07 -0.89 7.04 14.99 3.99 12.46
Fund with Sales Charge (%) (POP) 13.12 -5.08 5.66 17.47 -11.91 -1.83 6.04 13.99 3.02 11.46
ICE BofA US High Yield Constrained Index (%) 14.41 -2.27 7.48 17.49 -4.61 2.51 7.41 15.55 4.37 15.04

Cumulative Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/16/1995
Fund without Sales Charge (%) (NAV) 9.49 0.23 3.32 10.23 24.25 65.63 317.28
Fund with Sales Charge (%) (POP) 8.49 -0.75 2.34 10.23 24.25 65.63 317.28
ICE BofA US High Yield Constrained Index (%) 10.54 -0.33 2.99 12.89 31.79 89.37
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/16/1995
Fund without Sales Charge (%) (NAV) 9.17 -4.05 -0.67 7.04 16.47 63.60 299.47
Fund with Sales Charge (%) (POP) 8.17 -4.99 -1.62 7.04 16.47 63.60 299.47
ICE BofA US High Yield Constrained Index (%) 9.54 -4.84 -1.17 9.02 25.05 87.02

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 8.67 8.50 7.52
Standard Deviation (ICE BofA US High Yield Constrained Index) 9.09 8.13 7.07
Beta 0.94 1.02 1.04
Sharpe Ratio 0.19 0.39 0.61
Information Ratio -0.62 -0.67 -0.86
Tracking Error 1.34 1.85 1.64

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

3 YR 5 YR 10 YR
Beta Bull 1.00 1.04 1.05
Beta Bear 0.86 0.88 0.88
Bull Bear Capture Ratio 0.92 0.86 0.83
Gains/Losses 1.48 1.58 1.74

SALES CHARGE, EXPENSES & FEES As of 10/01/2019 (updated annually)

Gross Expense Ratio 1.27%
Net Expense Ratio [further-information] 1.26%
Max Initial Sales Charge 0.00%
CDSC 1.00%

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

Beta 0.94
Sharpe Ratio 0.19
Standard Deviation 8.67

Benchmarks

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

  • ICE BofA US High Yield Constrained Index