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) 7.30 3.53 2.21 3.35 4.09
Fund with Sales Charge (%) (POP) 6.30 3.53 2.21 3.35 4.09
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) 6.14 3.13 2.29 3.22 4.04
Fund with Sales Charge (%) (POP) 5.14 3.13 2.29 3.22 4.04
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 7.30 3.53 2.21 3.35
Fund without Sales Charge (%) (NAV) After Shares Sold 5.36 3.31 2.33 3.30
Fund with Sales Charge (%) (POP) Before Shares Sold 6.30 3.53 2.21 3.35
Fund with Sales Charge (%) (POP) After Shares Sold 4.77 3.31 2.33 3.30
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.14 3.13 2.29 3.22
Fund without Sales Charge (%) (NAV) After Shares Sold 4.69 3.01 2.40 3.21
Fund with Sales Charge (%) (POP) Before Shares Sold 5.14 3.13 2.29 3.22
Fund with Sales Charge (%) (POP) After Shares Sold 4.10 3.01 2.40 3.21

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.14 0.55 2.77 0.07 2.01 9.15 -5.88 6.48 11.44 0.56
Fund with Sales Charge (%) (POP) 5.14 -0.43 1.77 -0.90 1.02 8.15 -6.80 5.48 10.44 -0.41
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) 1.79 1.68 7.30 10.96 11.55 39.03 170.02
Fund with Sales Charge (%) (POP) 0.79 0.68 6.30 10.96 11.55 39.03 170.02
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) 0.04 6.14 6.14 9.68 11.97 37.26 165.57
Fund with Sales Charge (%) (POP) -0.95 5.14 5.14 9.68 11.97 37.26 165.57
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) 2.32 2.65 3.69
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Sharpe Ratio 0.81 0.43 0.76
Information Ratio -2.51 -1.86 -1.22
Tracking Error 0.63 0.71 0.92

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

3 YR 5 YR 10 YR
Beta Bull 0.92 0.88 1.05
Beta Bear 0.64 0.82 1.05
Bull Bear Capture Ratio 0.78 0.80 0.79
% of Positive Months 69.44 70.00 68.33
Gains/Losses 3.00 1.95 2.02
Maximum Drawdown
1.73 4.34 8.85

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

Gross Expense Ratio 1.28%
Net Expense Ratio [further-information] 1.28%
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 0.81
Standard Deviation 2.32

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index