Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 6.61 3.02 2.21 2.92 4.01
Fund with Sales Charge (%) (POP) 5.61 3.02 2.21 2.92 4.01
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.20
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 6.76 1.96 2.32 2.73 4.04
Fund with Sales Charge (%) (POP) 5.76 1.96 2.32 2.73 4.04
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.22

After-Tax Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.61 3.02 2.21 2.92
Fund without Sales Charge (%) (NAV) After Shares Sold 4.99 2.99 2.39 3.00
Fund with Sales Charge (%) (POP) Before Shares Sold 5.61 3.02 2.21 2.92
Fund with Sales Charge (%) (POP) After Shares Sold 4.40 2.99 2.39 3.00
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.76 1.96 2.32 2.73
Fund without Sales Charge (%) (NAV) After Shares Sold 5.13 2.17 2.49 2.85
Fund with Sales Charge (%) (POP) Before Shares Sold 5.76 1.96 2.32 2.73
Fund with Sales Charge (%) (POP) After Shares Sold 4.54 2.17 2.49 2.85

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.95 2.11 1.02 0.76 8.32 -5.96 5.58 10.17 0.86 14.55
Fund with Sales Charge (%) (POP) -0.03 1.12 0.04 -0.21 7.32 -6.88 4.58 9.17 -0.11 13.55
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -0.66 5.78 6.61 9.33 11.57 33.37 162.88
Fund with Sales Charge (%) (POP) -1.65 4.78 5.61 9.33 11.57 33.37 162.88
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 247.57
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.44 5.77 6.76 5.99 12.17 30.94 162.86
Fund with Sales Charge (%) (POP) 0.44 4.77 5.76 5.99 12.17 30.94 162.86
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 246.08

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.90 2.33 3.52
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Sharpe Ratio 0.75 0.52 0.68
Information Ratio -1.95 -1.14 -1.13
Tracking Error 1.02 1.19 1.25

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.65 0.71 0.97
Beta Bear 0.75 0.63 0.89
Bull Bear Capture Ratio 0.81 0.85 0.76
% of Positive Months 69.44 65.00 66.67
Gains/Losses 2.96 2.04 1.90
Maximum Drawdown
1.18 3.28 8.83

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 11/30/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.75
Standard Deviation 1.90

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index