Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 2.64 3.01 2.84 3.30 5.41
Fund with Sales Charge (%) (POP) 2.64 3.01 2.84 3.30 5.41
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 2.64 3.01 2.84 3.30 5.41
Fund with Sales Charge (%) (POP) 2.64 3.01 2.84 3.30 5.41
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.64 3.01 2.84 3.29
Fund without Sales Charge (%) (NAV) After Shares Sold 2.95 3.16 3.06 3.47
Fund with Sales Charge (%) (POP) Before Shares Sold 2.64 3.01 2.84 3.29
Fund with Sales Charge (%) (POP) After Shares Sold 2.95 3.16 3.06 3.47
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.64 3.01 2.84 3.29
Fund without Sales Charge (%) (NAV) After Shares Sold 2.95 3.16 3.06 3.47
Fund with Sales Charge (%) (POP) Before Shares Sold 2.64 3.01 2.84 3.29
Fund with Sales Charge (%) (POP) After Shares Sold 2.95 3.16 3.06 3.47

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 5.97 1.79 1.92 1.52
Fund with Sales Charge (%) (POP) 5.97 1.79 1.92 1.52
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.21 1.00 2.64 9.31 15.05 38.39 464.48
Fund with Sales Charge (%) (POP) 1.21 1.00 2.64 9.31 15.05 38.39 464.48
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.21 1.00 2.64 9.31 15.05 38.39 464.48
Fund with Sales Charge (%) (POP) 1.21 1.00 2.64 9.31 15.05 38.39 464.48
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.00 2.79 3.68
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.46 0.62 0.74
Information Ratio -0.91 -0.76 -0.64
Tracking Error 1.33 1.42 1.42

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.67 0.66 0.90
Beta Bear 0.69 0.64 0.79
Bull Bear Capture Ratio 0.91 0.95 0.88
% of Positive Months 66.67 70.00 68.33
Gains/Losses 2.11 2.18 1.99
Maximum Drawdown
4.34 4.34 9.32

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.60%
Net Expense Ratio [further-information] 0.60%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 0.74
Sharpe Ratio 0.46
Standard Deviation 3.00

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index