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) 3.01 2.55 2.25 2.33 3.68
Fund with Sales Charge (%) (POP) 2.01 2.55 2.25 2.33 3.68
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.46 2.31 2.00 2.31 3.66
Fund with Sales Charge (%) (POP) 1.46 2.31 2.00 2.31 3.66
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 3.01 2.55 2.25 2.33
Fund without Sales Charge (%) (NAV) After Shares Sold 2.72 2.56 2.36 2.47
Fund with Sales Charge (%) (POP) Before Shares Sold 2.01 2.55 2.25 2.33
Fund with Sales Charge (%) (POP) After Shares Sold 2.13 2.56 2.36 2.47
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.46 2.31 2.00 2.31
Fund without Sales Charge (%) (NAV) After Shares Sold 2.42 2.38 2.16 2.46
Fund with Sales Charge (%) (POP) Before Shares Sold 1.46 2.31 2.00 2.31
Fund with Sales Charge (%) (POP) After Shares Sold 1.83 2.38 2.16 2.46

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 4.53 0.41 1.35 0.56 0.51 8.94 -6.59 5.65 9.76 0.75
Fund with Sales Charge (%) (POP) 3.53 -0.57 0.36 -0.42 -0.46 7.94 -7.50 4.65 8.76 -0.22
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) 4.38 2.22 3.01 7.86 11.79 25.91 149.25
Fund with Sales Charge (%) (POP) 3.38 1.22 2.01 7.86 11.79 25.91 149.25
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) 1.76 1.25 2.46 7.08 10.39 25.65 146.89
Fund with Sales Charge (%) (POP) 0.76 0.25 1.46 7.08 10.39 25.65 146.89
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) 2.93 2.80 3.78
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Sharpe Ratio 0.32 0.41 0.46
Information Ratio -1.54 -1.34 -1.42
Tracking Error 1.28 1.40 1.35

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

3 YR 5 YR 10 YR
Beta Bull 0.70 0.66 0.91
Beta Bear 0.73 0.71 0.87
Bull Bear Capture Ratio 0.81 0.81 0.72
Gains/Losses 1.96 1.91 1.64

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

Gross Expense Ratio 1.33%
Net Expense Ratio [further-information] 1.33%
Max Initial Sales Charge 0.00%
CDSC 1.00%

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

Sharpe Ratio 0.32
Standard Deviation 2.93

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index