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) 0.61 1.70 1.61 2.56 3.87
Fund with Sales Charge (%) (POP) -0.37 1.70 1.61 2.56 3.87
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) 3.38 2.57 1.93 2.87 3.97
Fund with Sales Charge (%) (POP) 2.38 2.57 1.93 2.87 3.97
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 0.61 1.70 1.61 2.56
Fund without Sales Charge (%) (NAV) After Shares Sold 1.26 1.88 1.86 2.67
Fund with Sales Charge (%) (POP) Before Shares Sold -0.37 1.70 1.61 2.56
Fund with Sales Charge (%) (POP) After Shares Sold 0.68 1.88 1.86 2.67
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.38 2.57 1.93 2.87
Fund without Sales Charge (%) (NAV) After Shares Sold 2.97 2.55 2.10 2.91
Fund with Sales Charge (%) (POP) Before Shares Sold 2.38 2.57 1.93 2.87
Fund with Sales Charge (%) (POP) After Shares Sold 2.37 2.55 2.10 2.91

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.01 0.97 1.56 0.78 1.79 8.50 -6.31 6.27 10.95 0.48
Fund with Sales Charge (%) (POP) 5.01 -0.02 0.57 -0.20 0.80 7.50 -7.21 5.27 9.95 -0.48
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) -3.73 -2.19 0.61 5.18 8.32 28.73 158.35
Fund with Sales Charge (%) (POP) -4.69 -3.16 -0.37 5.18 8.32 28.73 158.35
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) -0.16 -0.16 3.38 7.90 10.02 32.67 163.70
Fund with Sales Charge (%) (POP) -1.15 -1.15 2.38 7.90 10.02 32.67 163.70
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) 3.20 2.88 3.80
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio 0.01 0.18 0.52
Information Ratio -1.43 -1.13 -1.04
Tracking Error 1.10 1.25 1.27

ADDITIONAL RISK STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.80 0.76 1.03
Beta Bear 0.79 0.69 0.84
Bull Bear Capture Ratio 0.76 0.80 0.78
% of Positive Months 63.89 68.33 65.00
Gains/Losses 1.50 1.57 1.69
Maximum Drawdown
4.90 4.90 8.68

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

Gross Expense Ratio 1.24%
Net Expense Ratio [further-information] 1.24%
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 0.01
Standard Deviation 3.20

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index