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 05/01/1995
Fund without Sales Charge (%) (NAV) 4.24 3.54 2.79 2.89 3.95
Fund with Sales Charge (%) (POP) 3.24 3.54 2.79 2.89 3.95
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.24 3.54 2.79 2.89 3.95
Fund with Sales Charge (%) (POP) 3.24 3.54 2.79 2.89 3.95
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17

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 4.24 3.54 2.79 2.89
Fund without Sales Charge (%) (NAV) After Shares Sold 3.37 3.26 2.73 2.90
Fund with Sales Charge (%) (POP) Before Shares Sold 3.24 3.54 2.79 2.89
Fund with Sales Charge (%) (POP) After Shares Sold 2.78 3.26 2.73 2.90
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.24 3.54 2.79 2.89
Fund without Sales Charge (%) (NAV) After Shares Sold 3.37 3.26 2.73 2.90
Fund with Sales Charge (%) (POP) Before Shares Sold 3.24 3.54 2.79 2.89
Fund with Sales Charge (%) (POP) After Shares Sold 2.78 3.26 2.73 2.90

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.69 0.27 2.78 0.59 0.33 10.38 -5.69 5.52 9.24 -0.24
Fund with Sales Charge (%) (POP) 5.69 -0.71 1.78 -0.38 -0.64 9.38 -6.60 4.52 8.24 -1.20
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38

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 05/01/1995
Fund without Sales Charge (%) (NAV) 1.92 2.36 4.24 11.00 14.76 33.02 165.12
Fund with Sales Charge (%) (POP) 0.92 1.36 3.24 11.00 14.76 33.02 165.12
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.92 2.36 4.24 11.00 14.76 33.02 165.12
Fund with Sales Charge (%) (POP) 0.92 1.36 3.24 11.00 14.76 33.02 165.12
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.49 3.18 3.65
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Sharpe Ratio 0.64 0.65 0.65
Information Ratio -0.75 -0.88 -1.06
Tracking Error 0.87 1.09 1.23

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

3 YR 5 YR 10 YR
Beta Bull 1.00 0.92 0.94
Beta Bear 0.65 0.67 0.83
Bull Bear Capture Ratio 0.98 0.94 0.83
Gains/Losses 2.32 2.21 1.87

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

Gross Expense Ratio 1.22%
Net Expense Ratio [further-information] 1.22%
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

Sharpe Ratio 0.64
Standard Deviation 3.49

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index