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) 1.10 1.52 1.45 2.21 3.76
Fund with Sales Charge (%) (POP) 0.11 1.52 1.45 2.21 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) 3.14 2.13 1.61 2.46 3.82
Fund with Sales Charge (%) (POP) 2.14 2.13 1.61 2.46 3.82
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 1.10 1.52 1.45 2.21
Fund without Sales Charge (%) (NAV) After Shares Sold 1.50 1.72 1.71 2.37
Fund with Sales Charge (%) (POP) Before Shares Sold 0.11 1.52 1.45 2.21
Fund with Sales Charge (%) (POP) After Shares Sold 0.92 1.72 1.71 2.37
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.14 2.13 1.61 2.46
Fund without Sales Charge (%) (NAV) After Shares Sold 2.76 2.19 1.83 2.57
Fund with Sales Charge (%) (POP) Before Shares Sold 2.14 2.13 1.61 2.46
Fund with Sales Charge (%) (POP) After Shares Sold 2.16 2.19 1.83 2.57

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.32 0.69 1.05 0.57 1.06 8.06 -7.26 6.37 10.63 0.36
Fund with Sales Charge (%) (POP) 4.32 -0.30 0.07 -0.40 0.08 7.06 -8.16 5.37 9.63 -0.61
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) -2.88 -1.40 1.10 4.63 7.45 24.41 151.32
Fund with Sales Charge (%) (POP) -3.85 -2.38 0.11 4.63 7.45 24.41 151.32
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) -0.03 -0.03 3.14 6.52 8.33 27.53 154.81
Fund with Sales Charge (%) (POP) -1.03 -1.03 2.14 6.52 8.33 27.53 154.81
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) 2.79 2.67 3.67
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio -0.06 0.13 0.44
Information Ratio -1.40 -1.20 -1.29
Tracking Error 1.25 1.32 1.30

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

3 YR 5 YR 10 YR
Beta Bull 0.70 0.69 0.98
Beta Bear 0.67 0.67 0.84
Bull Bear Capture Ratio 0.76 0.78 0.75
% of Positive Months 63.89 68.33 65.83
Gains/Losses 1.51 1.55 1.61
Maximum Drawdown
3.90 3.90 9.30

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

Gross Expense Ratio 1.23%
Net Expense Ratio [further-information] 1.23%
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 -0.06
Standard Deviation 2.79

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index