Average Annual Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.17 2.66 2.58 3.86 4.40
Fund with Sales Charge (%) (POP) 0.19 2.66 2.58 3.86 4.40
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 2.65 3.44 3.08 4.29
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.57 3.46 2.74 4.21 4.49
Fund with Sales Charge (%) (POP) 2.57 3.46 2.74 4.21 4.49
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.21 4.05 3.19 4.61

After-Tax Average Annual Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.17 2.66 2.58 3.86
Fund without Sales Charge (%) (NAV) After Shares Sold 1.76 2.73 2.69 3.80
Fund with Sales Charge (%) (POP) Before Shares Sold 0.19 2.66 2.58 3.86
Fund with Sales Charge (%) (POP) After Shares Sold 1.18 2.73 2.69 3.80
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.57 3.46 2.74 4.21
Fund without Sales Charge (%) (NAV) After Shares Sold 3.26 3.35 2.80 4.08
Fund with Sales Charge (%) (POP) Before Shares Sold 2.57 3.46 2.74 4.21
Fund with Sales Charge (%) (POP) After Shares Sold 2.67 3.35 2.80 4.08

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 8.43 -0.12 5.50 0.11 3.04 12.94 -4.39 9.72 10.58 1.42
Fund with Sales Charge (%) (POP) 7.43 -1.09 4.50 -0.86 2.04 11.94 -5.31 8.72 9.58 0.44
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 1.11 5.63 -0.14 3.51 9.96 -1.76 8.15 12.28 2.97

Cumulative Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -5.33 -3.15 1.17 8.18 13.60 46.09 193.46
Fund with Sales Charge (%) (POP) -6.27 -4.11 0.19 8.18 13.60 46.09 193.46
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -3.29 -1.56 2.65 10.68 16.38 52.22
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -1.51 -1.51 3.57 10.75 14.47 50.98 198.44
Fund with Sales Charge (%) (POP) -2.49 -2.49 2.57 10.75 14.47 50.98 198.44
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -0.49 -0.49 4.21 12.66 16.99 56.91

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.93 4.76 4.94
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 3.57 3.56 3.96
Sharpe Ratio 0.20 0.31 0.67
Information Ratio -0.49 -0.33 -0.28
Tracking Error 1.59 1.48 1.48

ADDITIONAL RISK STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.34 1.31 1.09
Beta Bear 1.63 1.39 1.30
Bull Bear Capture Ratio 0.80 0.83 0.84
% of Positive Months 61.11 65.00 65.83
Gains/Losses 1.57 1.60 1.85
Maximum Drawdown
7.17 7.17 8.81

SALES CHARGE, EXPENSES & FEES As of 08/01/2019 (updated annually)

Gross Expense Ratio 1.16%
Net Expense Ratio [further-information] 1.16%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 04/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.20
Standard Deviation 4.93

Benchmarks

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

  • Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index