Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.24 3.14 2.81 3.13 3.92
Fund with Sales Charge (%) (POP) 3.24 3.14 2.81 3.13 3.92
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.64 2.92 2.51 3.07 3.88
Fund with Sales Charge (%) (POP) 2.64 2.92 2.51 3.07 3.88
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.24 3.14 2.81 3.13
Fund without Sales Charge (%) (NAV) After Shares Sold 3.43 2.98 2.77 3.11
Fund with Sales Charge (%) (POP) Before Shares Sold 3.24 3.14 2.81 3.13
Fund with Sales Charge (%) (POP) After Shares Sold 2.84 2.98 2.77 3.11
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.64 2.92 2.51 3.07
Fund without Sales Charge (%) (NAV) After Shares Sold 3.09 2.81 2.53 3.06
Fund with Sales Charge (%) (POP) Before Shares Sold 2.64 2.92 2.51 3.07
Fund with Sales Charge (%) (POP) After Shares Sold 2.50 2.81 2.53 3.06

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 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 3.78 3.07 4.24 9.72 14.87 36.13 163.88
Fund with Sales Charge (%) (POP) 2.78 2.07 3.24 9.72 14.87 36.13 163.88
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.52 1.91 3.64 9.02 13.18 35.35 160.90
Fund with Sales Charge (%) (POP) 0.52 0.91 2.64 9.02 13.18 35.35 160.90
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.07 2.83 3.82
Standard Deviation (--) 3.94 3.80 3.82
Sharpe Ratio 0.50 0.60 0.65
Information Ratio -1.19 -1.02 -0.87
Tracking Error 1.16 1.28 1.39

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.83 0.78 0.95
Beta Bear 0.50 0.56 0.79
Bull Bear Capture Ratio 0.88 0.91 0.81
Gains/Losses 2.13 2.14 1.85

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

Gross Expense Ratio 1.31%
Net Expense Ratio [further-information] 1.31%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.50
Standard Deviation 3.07

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index