Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 0.50 2.08 2.00 2.43 3.88
Fund with Sales Charge (%) (POP) -0.48 2.08 2.00 2.43 3.88
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 5.16
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.08 2.32 1.81 2.61 3.90
Fund with Sales Charge (%) (POP) 1.08 2.32 1.81 2.61 3.90
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 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 0.50 2.08 2.00 2.43
Fund without Sales Charge (%) (NAV) After Shares Sold 1.19 2.23 2.22 2.60
Fund with Sales Charge (%) (POP) Before Shares Sold -0.48 2.08 2.00 2.43
Fund with Sales Charge (%) (POP) After Shares Sold 0.61 2.23 2.22 2.60
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.08 2.32 1.81 2.61
Fund without Sales Charge (%) (NAV) After Shares Sold 2.21 2.43 2.07 2.75
Fund with Sales Charge (%) (POP) Before Shares Sold 1.08 2.32 1.81 2.61
Fund with Sales Charge (%) (POP) After Shares Sold 1.62 2.43 2.07 2.75

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.98 0.95 2.11 1.02 0.76 8.32 -5.96 5.58 10.17 0.86
Fund with Sales Charge (%) (POP) 4.98 -0.03 1.12 0.04 -0.21 7.32 -6.88 4.58 9.17 -0.11
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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -4.34 -1.38 0.50 6.36 10.43 27.19 159.73
Fund with Sales Charge (%) (POP) -5.29 -2.36 -0.48 6.36 10.43 27.19 159.73
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 252.96
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) -1.48 -1.48 2.08 7.13 9.38 29.40 159.48
Fund with Sales Charge (%) (POP) -2.46 -2.46 1.08 7.13 9.38 29.40 159.48
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 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.14 3.57 4.05
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.21 0.33 0.48
Information Ratio -1.54 -1.21 -1.27
Tracking Error 1.12 1.34 1.32

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.91 0.84 0.97
Beta Bear 1.30 0.98 0.99
Bull Bear Capture Ratio 0.74 0.78 0.73
Gains/Losses 1.69 1.77 1.65

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 1.22%
Net Expense Ratio [further-information] 1.22%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.21
Standard Deviation 4.14

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index