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) 1.61 2.02 1.88 2.60 3.87
Fund with Sales Charge (%) (POP) 0.61 2.02 1.88 2.60 3.87
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.75 2.75 2.08 2.90 3.95
Fund with Sales Charge (%) (POP) 2.75 2.75 2.08 2.90 3.95
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 1.61 2.02 1.88 2.60
Fund without Sales Charge (%) (NAV) After Shares Sold 1.84 2.13 2.05 2.69
Fund with Sales Charge (%) (POP) Before Shares Sold 0.61 2.02 1.88 2.60
Fund with Sales Charge (%) (POP) After Shares Sold 1.25 2.13 2.05 2.69
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.75 2.75 2.07 2.90
Fund without Sales Charge (%) (NAV) After Shares Sold 3.15 2.69 2.20 2.93
Fund with Sales Charge (%) (POP) Before Shares Sold 2.75 2.75 2.07 2.90
Fund with Sales Charge (%) (POP) After Shares Sold 2.56 2.69 2.20 2.93

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.70 0.15 3.19 0.42 1.81 9.15 -6.79 6.28 10.47 0.61
Fund with Sales Charge (%) (POP) 4.70 -0.82 2.19 -0.56 0.82 8.15 -7.69 5.28 9.47 -0.36
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) -3.18 -1.54 1.61 6.19 9.73 29.24 158.42
Fund with Sales Charge (%) (POP) -4.14 -2.52 0.61 6.19 9.73 29.24 158.42
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 3.75 8.47 10.82 33.06 162.89
Fund with Sales Charge (%) (POP) -0.84 -0.84 2.75 8.47 10.82 33.06 162.89
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 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.58 3.36 4.04
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.89 3.75 3.80
Sharpe Ratio 0.30 0.43 0.56
Information Ratio -1.45 -1.51 -1.33
Tracking Error 0.75 0.78 0.97

ADDITIONAL RISK STATISTICSAs of 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.03 0.99 1.08
Beta Bear 0.78 0.80 0.94
Bull Bear Capture Ratio 0.86 0.85 0.78
Gains/Losses 1.84 1.89 1.74

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

Gross Expense Ratio 1.20%
Net Expense Ratio [further-information] 1.20%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 05/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.30
Standard Deviation 3.58

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index