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 05/01/1995
Fund without Sales Charge (%) (NAV) 1.99 2.31 2.16 2.68 3.90
Fund with Sales Charge (%) (POP) 1.00 2.31 2.16 2.68 3.90
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.99 2.31 2.16 2.68 3.90
Fund with Sales Charge (%) (POP) 1.00 2.31 2.16 2.68 3.90
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 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 1.99 2.31 2.16 2.67
Fund without Sales Charge (%) (NAV) After Shares Sold 2.30 2.47 2.38 2.84
Fund with Sales Charge (%) (POP) Before Shares Sold 1.00 2.31 2.16 2.67
Fund with Sales Charge (%) (POP) After Shares Sold 1.71 2.47 2.38 2.84
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.99 2.31 2.16 2.67
Fund without Sales Charge (%) (NAV) After Shares Sold 2.30 2.47 2.38 2.84
Fund with Sales Charge (%) (POP) Before Shares Sold 1.00 2.31 2.16 2.67
Fund with Sales Charge (%) (POP) After Shares Sold 1.71 2.47 2.38 2.84

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.21 1.19 1.22 0.71 2.02 9.28 -6.79 6.06 9.53 1.47
Fund with Sales Charge (%) (POP) 4.21 0.21 0.24 -0.26 1.04 8.28 -7.69 5.06 8.53 0.49
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 06/30/2020

Month 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) 1.04 0.69 1.99 7.10 11.29 30.31 162.18
Fund with Sales Charge (%) (POP) 0.04 -0.31 1.00 7.10 11.29 30.31 162.18
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87
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) 1.04 0.69 1.99 7.10 11.29 30.31 162.18
Fund with Sales Charge (%) (POP) 0.04 -0.31 1.00 7.10 11.29 30.31 162.18
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 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.99 2.81 3.69
Standard Deviation (--) 3.88 3.75 3.81
Sharpe Ratio 0.23 0.37 0.57
Information Ratio -1.38 -1.23 -1.08
Tracking Error 1.38 1.44 1.41

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

3 YR 5 YR 10 YR
Beta Bull 0.68 0.65 0.89
Beta Bear 0.68 0.66 0.80
Bull Bear Capture Ratio 0.79 0.81 0.78
% of Positive Months 66.67 70.00 67.50
Gains/Losses 1.81 1.83 1.77
Maximum Drawdown
4.44 4.44 9.67

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

Gross Expense Ratio 1.25%
Net Expense Ratio [further-information] 1.25%
Max Initial Sales Charge 0.00%
CDSC

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

Sharpe Ratio 0.23
Standard Deviation 2.99

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index