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) -1.91 1.38 1.74 3.43 4.27
Fund with Sales Charge (%) (POP) -2.86 1.38 1.74 3.43 4.27
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) 0.70 2.28 1.99 3.78 4.37
Fund with Sales Charge (%) (POP) -0.28 2.28 1.99 3.78 4.37
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 -1.91 1.38 1.74 3.43
Fund without Sales Charge (%) (NAV) After Shares Sold 0.27 1.96 2.22 3.57
Fund with Sales Charge (%) (POP) Before Shares Sold -2.86 1.38 1.74 3.43
Fund with Sales Charge (%) (POP) After Shares Sold -0.29 1.96 2.22 3.57
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 0.69 2.28 1.99 3.78
Fund without Sales Charge (%) (NAV) After Shares Sold 1.95 2.64 2.40 3.85
Fund with Sales Charge (%) (POP) Before Shares Sold -0.28 2.28 1.99 3.78
Fund with Sales Charge (%) (POP) After Shares Sold 1.37 2.64 2.40 3.85

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.06 1.44 3.13 0.57 2.65 13.35 -7.24 10.40 11.80 2.29
Fund with Sales Charge (%) (POP) 6.06 0.46 2.13 -0.40 1.67 12.35 -8.13 9.40 10.80 1.32
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) -6.80 -5.10 -1.91 4.20 9.03 40.11 184.66
Fund with Sales Charge (%) (POP) -7.72 -6.04 -2.86 4.20 9.03 40.11 184.66
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) -3.25 -3.25 0.70 6.99 10.36 44.94 190.21
Fund with Sales Charge (%) (POP) -4.21 -4.21 -0.28 6.99 10.36 44.94 190.21
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) 4.66 4.36 4.95
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio -0.06 0.15 0.58
Information Ratio -1.07 -0.84 -0.25
Tracking Error 1.76 1.54 1.78

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 04/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio -0.06
Standard Deviation 4.66

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index