Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.27 3.41 2.49 3.46 4.05
Fund with Sales Charge (%) (POP) 6.27 3.41 2.49 3.46 4.05
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.20
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.45 2.09 2.70 3.27 4.08
Fund with Sales Charge (%) (POP) 6.45 2.09 2.70 3.27 4.08
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.22

After-Tax Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.27 3.41 2.49 3.46
Fund without Sales Charge (%) (NAV) After Shares Sold 5.37 3.25 2.56 3.42
Fund with Sales Charge (%) (POP) Before Shares Sold 6.27 3.41 2.49 3.46
Fund with Sales Charge (%) (POP) After Shares Sold 4.78 3.25 2.56 3.42
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.45 2.09 2.70 3.27
Fund without Sales Charge (%) (NAV) After Shares Sold 5.50 2.23 2.73 3.26
Fund with Sales Charge (%) (POP) Before Shares Sold 6.45 2.09 2.70 3.27
Fund with Sales Charge (%) (POP) After Shares Sold 4.91 2.23 2.73 3.26

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.15 3.50 0.43 1.36 10.42 -5.52 8.20 10.27 0.25 14.96
Fund with Sales Charge (%) (POP) -0.83 2.50 -0.55 0.38 9.42 -6.44 7.20 9.27 -0.72 13.96
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -0.69 6.23 7.27 10.58 13.07 40.57 165.44
Fund with Sales Charge (%) (POP) -1.68 5.23 6.27 10.58 13.07 40.57 165.44
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 247.57
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.68 6.22 7.45 6.41 14.25 37.94 165.43
Fund with Sales Charge (%) (POP) 0.68 5.22 6.45 6.41 14.25 37.94 165.43
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 246.08

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.14 2.71 3.82
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Sharpe Ratio 0.85 0.55 0.77
Information Ratio -2.15 -1.21 -0.79
Tracking Error 0.75 0.89 1.11

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.84 0.91 1.13
Beta Bear 0.90 0.79 1.08
Bull Bear Capture Ratio 0.82 0.85 0.82
% of Positive Months 69.44 66.67 66.67
Gains/Losses 3.10 2.05 2.06
Maximum Drawdown
1.61 4.15 8.70

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

Gross Expense Ratio 1.21%
Net Expense Ratio [further-information] 1.21%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.85
Standard Deviation 2.14

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index