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) 2.64 2.60 2.10 2.63 3.85
Fund with Sales Charge (%) (POP) 1.64 2.60 2.10 2.63 3.85
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 5.04
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.35 3.15 2.17 2.84 3.91
Fund with Sales Charge (%) (POP) 3.35 3.15 2.17 2.84 3.91
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.11

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 2.64 2.60 2.10 2.63
Fund without Sales Charge (%) (NAV) After Shares Sold 2.44 2.56 2.21 2.70
Fund with Sales Charge (%) (POP) Before Shares Sold 1.64 2.60 2.10 2.63
Fund with Sales Charge (%) (POP) After Shares Sold 1.85 2.56 2.21 2.70
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.35 3.15 2.17 2.84
Fund without Sales Charge (%) (NAV) After Shares Sold 3.51 2.98 2.26 2.87
Fund with Sales Charge (%) (POP) Before Shares Sold 3.35 3.15 2.17 2.84
Fund with Sales Charge (%) (POP) After Shares Sold 2.92 2.98 2.26 2.87

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 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) -2.41 -0.84 2.64 8.01 10.96 29.66 156.84
Fund with Sales Charge (%) (POP) -3.38 -1.83 1.64 8.01 10.96 29.66 156.84
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 242.08
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) 0.42 0.42 4.35 9.74 11.35 32.37 160.12
Fund with Sales Charge (%) (POP) -0.57 -0.57 3.35 9.74 11.35 32.37 160.12
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 246.43

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.09 2.93 3.53
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio 0.30 0.34 0.58
Information Ratio -0.69 -0.75 -1.02
Tracking Error 0.97 1.24 1.22

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

3 YR 5 YR 10 YR
Beta Bull 0.97 0.90 0.93
Beta Bear 0.67 0.69 0.83
Bull Bear Capture Ratio 0.95 0.91 0.82
% of Positive Months 63.89 66.67 65.83
Gains/Losses 1.88 1.75 1.78
Maximum Drawdown
3.76 3.91 7.93

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

Gross Expense Ratio 1.23%
Net Expense Ratio [further-information] 1.23%
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 0.30
Standard Deviation 3.09

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index