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) 6.79 3.04 1.98 3.25 3.93
Fund with Sales Charge (%) (POP) 5.79 3.04 1.98 3.25 3.93
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) 5.88 2.72 2.03 3.13 3.88
Fund with Sales Charge (%) (POP) 4.88 2.72 2.03 3.13 3.88
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 6.79 3.03 1.98 3.25
Fund without Sales Charge (%) (NAV) After Shares Sold 5.06 2.92 2.13 3.22
Fund with Sales Charge (%) (POP) Before Shares Sold 5.79 3.03 1.98 3.25
Fund with Sales Charge (%) (POP) After Shares Sold 4.47 2.92 2.13 3.22
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.89 2.72 2.03 3.12
Fund without Sales Charge (%) (NAV) After Shares Sold 4.53 2.68 2.19 3.13
Fund with Sales Charge (%) (POP) Before Shares Sold 4.89 2.72 2.03 3.12
Fund with Sales Charge (%) (POP) After Shares Sold 3.94 2.68 2.19 3.13

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.88 -0.10 2.46 1.30 0.74 9.84 -5.34 6.92 11.68 -0.91
Fund with Sales Charge (%) (POP) 4.88 -1.08 1.46 0.32 -0.24 8.84 -6.26 5.92 10.68 -1.87
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) 1.82 1.44 6.79 9.39 10.29 37.74 159.70
Fund with Sales Charge (%) (POP) 0.82 0.44 5.79 9.39 10.29 37.74 159.70
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) 0.48 5.88 5.88 8.37 10.59 36.06 156.02
Fund with Sales Charge (%) (POP) -0.52 4.88 4.88 8.37 10.59 36.06 156.02
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) 2.22 2.42 3.64
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Sharpe Ratio 0.62 0.38 0.72
Information Ratio -3.07 -1.41 -1.01
Tracking Error 0.68 1.10 1.28

ADDITIONAL RISK STATISTICSAs of 01/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.82 0.76 0.98
Beta Bear 0.69 0.62 0.95
Bull Bear Capture Ratio 0.68 0.78 0.78
% of Positive Months 72.22 71.67 71.67
Gains/Losses 2.60 1.84 1.97
Maximum Drawdown
1.98 3.45 8.83

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

Gross Expense Ratio 1.31%
Net Expense Ratio [further-information] 1.31%
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 0.62
Standard Deviation 2.22

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index