Average Annual Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 8.44 4.33 2.90 4.47 4.61
Fund with Sales Charge (%) (POP) 7.44 4.33 2.90 4.47 4.61
Bloomberg Barclays Municipal Bond Index (%) 8.65 5.12 3.53 4.47 5.25
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.06 3.85 2.94 4.38 4.55
Fund with Sales Charge (%) (POP) 6.06 3.85 2.94 4.38 4.55
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.19

After-Tax Average Annual Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.44 4.32 2.90 4.47
Fund without Sales Charge (%) (NAV) After Shares Sold 6.59 4.19 3.07 4.38
Fund with Sales Charge (%) (POP) Before Shares Sold 7.44 4.32 2.90 4.47
Fund with Sales Charge (%) (POP) After Shares Sold 6.00 4.19 3.07 4.38
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.06 3.85 2.94 4.38
Fund without Sales Charge (%) (NAV) After Shares Sold 5.79 3.84 3.12 4.32
Fund with Sales Charge (%) (POP) Before Shares Sold 6.06 3.85 2.94 4.38
Fund with Sales Charge (%) (POP) After Shares Sold 5.20 3.84 3.12 4.32

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 01/31/2020

Month EndAs of 01/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 2.18 1.82 8.44 13.54 15.35 54.79 205.42
Fund with Sales Charge (%) (POP) 1.18 0.82 7.44 13.54 15.35 54.79 205.42
Bloomberg Barclays Municipal Bond Index (%) 2.36 1.80 8.65 16.15 18.96 54.89 254.89
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.15 7.06 7.06 11.99 15.62 53.50 199.96
Fund with Sales Charge (%) (POP) -0.84 6.06 6.06 11.99 15.62 53.50 199.96
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 248.63

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 01/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.40 3.14 4.44
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Sharpe Ratio 1.11 0.59 0.88
Information Ratio -0.86 -0.64 0.00
Tracking Error 0.91 0.99 1.58

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 01/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.11
Standard Deviation 2.40

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index