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) 0.05 1.52 1.55 2.39 3.76
Fund with Sales Charge (%) (POP) -0.93 1.52 1.55 2.39 3.76
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) 2.80 2.36 1.80 2.73 3.85
Fund with Sales Charge (%) (POP) 1.80 2.36 1.80 2.73 3.85
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 0.05 1.52 1.55 2.39
Fund without Sales Charge (%) (NAV) After Shares Sold 0.95 1.76 1.82 2.52
Fund with Sales Charge (%) (POP) Before Shares Sold -0.93 1.52 1.55 2.39
Fund with Sales Charge (%) (POP) After Shares Sold 0.37 1.76 1.82 2.52
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.80 2.36 1.80 2.73
Fund without Sales Charge (%) (NAV) After Shares Sold 2.67 2.40 2.00 2.79
Fund with Sales Charge (%) (POP) Before Shares Sold 1.80 2.36 1.80 2.73
Fund with Sales Charge (%) (POP) After Shares Sold 2.07 2.40 2.00 2.79

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.81 0.62 2.34 0.57 0.57 9.75 -6.38 5.68 10.24 1.57
Fund with Sales Charge (%) (POP) 4.81 -0.36 1.34 -0.41 -0.40 8.75 -7.30 4.68 9.24 0.59
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) -4.09 -2.64 0.05 4.62 8.01 26.64 151.33
Fund with Sales Charge (%) (POP) -5.05 -3.61 -0.93 4.62 8.01 26.64 151.33
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) -0.60 -0.60 2.80 7.26 9.31 30.92 156.59
Fund with Sales Charge (%) (POP) -1.59 -1.59 1.80 7.26 9.31 30.92 156.59
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 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.42 3.23 4.03
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.89 3.75 3.80
Sharpe Ratio 0.12 0.25 0.48
Information Ratio -1.81 -1.48 -1.24
Tracking Error 0.96 1.23 1.30

ADDITIONAL RISK STATISTICSAs of 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.75 0.68 0.93
Beta Bear 0.90 0.82 0.99
Bull Bear Capture Ratio 0.75 0.74 0.73
Gains/Losses 1.61 1.62 1.64

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 05/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.12
Standard Deviation 3.42

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index