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) 7.73 3.96 3.08 4.45 4.56
Fund with Sales Charge (%) (POP) 6.73 3.96 3.08 4.45 4.56
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) 7.50 2.15 3.27 4.23 4.59
Fund with Sales Charge (%) (POP) 6.50 2.15 3.27 4.23 4.59
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 7.73 3.95 3.08 4.45
Fund without Sales Charge (%) (NAV) After Shares Sold 6.21 3.92 3.23 4.38
Fund with Sales Charge (%) (POP) Before Shares Sold 6.73 3.95 3.08 4.45
Fund with Sales Charge (%) (POP) After Shares Sold 5.62 3.92 3.23 4.38
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.50 2.15 3.27 4.23
Fund without Sales Charge (%) (NAV) After Shares Sold 6.09 2.51 3.38 4.19
Fund with Sales Charge (%) (POP) Before Shares Sold 6.50 2.15 3.27 4.23
Fund with Sales Charge (%) (POP) After Shares Sold 5.50 2.51 3.38 4.19

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.44 3.13 0.57 2.65 13.35 -7.24 10.40 11.80 2.29 26.98
Fund with Sales Charge (%) (POP) 0.46 2.13 -0.40 1.67 12.35 -8.13 9.40 10.80 1.32 25.98
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) -0.61 6.85 7.73 12.34 16.39 54.58 199.40
Fund with Sales Charge (%) (POP) -1.60 5.85 6.73 12.34 16.39 54.58 199.40
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) 1.63 6.89 7.50 6.59 17.46 51.35 199.51
Fund with Sales Charge (%) (POP) 0.63 5.89 6.50 6.59 17.46 51.35 199.51
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) 2.25 3.18 4.42
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Sharpe Ratio 1.05 0.65 0.89
Information Ratio -1.08 -0.47 0.07
Tracking Error 0.98 1.02 1.59

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 1.05
Standard Deviation 2.25

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index