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) 0.49 1.18 1.21 2.01 3.54
Fund with Sales Charge (%) (POP) -0.49 1.18 1.21 2.01 3.54
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 5.04
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.33 1.77 1.37 2.30 3.62
Fund with Sales Charge (%) (POP) 1.33 1.77 1.37 2.30 3.62
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 0.49 1.18 1.21 2.01
Fund without Sales Charge (%) (NAV) After Shares Sold 1.28 1.53 1.58 2.25
Fund with Sales Charge (%) (POP) Before Shares Sold -0.49 1.18 1.21 2.01
Fund with Sales Charge (%) (POP) After Shares Sold 0.70 1.53 1.58 2.25
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.33 1.77 1.37 2.30
Fund without Sales Charge (%) (NAV) After Shares Sold 2.46 1.98 1.69 2.47
Fund with Sales Charge (%) (POP) Before Shares Sold 1.33 1.77 1.37 2.30
Fund with Sales Charge (%) (POP) After Shares Sold 1.87 1.98 1.69 2.47

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 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) -3.21 -2.08 0.49 3.57 6.22 22.02 138.78
Fund with Sales Charge (%) (POP) -4.17 -3.05 -0.49 3.57 6.22 22.02 138.78
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 242.08
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) -0.50 -0.50 2.33 5.39 7.03 25.48 142.63
Fund with Sales Charge (%) (POP) -1.49 -1.49 1.33 5.39 7.03 25.48 142.63
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 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.59 2.61 3.71
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio -0.20 0.04 0.39
Information Ratio -1.58 -1.30 -1.43
Tracking Error 1.32 1.40 1.31

ADDITIONAL RISK STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.59 0.61 0.97
Beta Bear 0.74 0.70 0.87
Bull Bear Capture Ratio 0.71 0.74 0.71
% of Positive Months 66.67 70.00 65.00
Gains/Losses 1.44 1.46 1.55
Maximum Drawdown
4.21 4.21 9.47

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

Gross Expense Ratio 1.32%
Net Expense Ratio [further-information] 1.32%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 04/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio -0.20
Standard Deviation 2.59

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index