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) 2.90 2.79 2.49 3.14 4.06
Fund with Sales Charge (%) (POP) 1.90 2.79 2.49 3.14 4.06
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) 4.33 3.36 2.52 3.32 4.11
Fund with Sales Charge (%) (POP) 3.33 3.36 2.52 3.32 4.11
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 2.90 2.79 2.49 3.13
Fund without Sales Charge (%) (NAV) After Shares Sold 2.66 2.70 2.50 3.09
Fund with Sales Charge (%) (POP) Before Shares Sold 1.90 2.79 2.49 3.13
Fund with Sales Charge (%) (POP) After Shares Sold 2.07 2.70 2.50 3.09
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.33 3.36 2.52 3.32
Fund without Sales Charge (%) (NAV) After Shares Sold 3.53 3.14 2.52 3.24
Fund with Sales Charge (%) (POP) Before Shares Sold 3.33 3.36 2.52 3.32
Fund with Sales Charge (%) (POP) After Shares Sold 2.94 3.14 2.52 3.24

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.23 0.09 4.09 0.37 2.78 9.61 -4.98 6.85 10.15 -1.01
Fund with Sales Charge (%) (POP) 5.23 -0.89 3.09 -0.61 1.79 8.61 -5.90 5.85 9.15 -1.97
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) -1.97 -0.43 2.90 8.60 13.10 36.17 170.14
Fund with Sales Charge (%) (POP) -2.95 -1.42 1.90 8.60 13.10 36.17 170.14
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) 0.54 0.54 4.33 10.41 13.26 38.65 172.78
Fund with Sales Charge (%) (POP) -0.46 -0.46 3.33 10.41 13.26 38.65 172.78
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) 2.91 2.85 3.86
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio 0.38 0.49 0.66
Information Ratio -0.49 -0.57 -0.72
Tracking Error 0.98 0.94 1.04

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

3 YR 5 YR 10 YR
Beta Bull 0.93 0.93 1.12
Beta Bear 0.55 0.65 0.83
Bull Bear Capture Ratio 0.99 0.98 0.86
% of Positive Months 66.67 66.67 65.00
Gains/Losses 1.97 1.95 1.88
Maximum Drawdown
3.15 4.16 9.02

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

Gross Expense Ratio 1.20%
Net Expense Ratio [further-information] 1.20%
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 0.38
Standard Deviation 2.91

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index