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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.14 2.09 2.06 3.27 5.29
Fund with Sales Charge (%) (POP) 1.14 2.09 2.06 3.27 5.29
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 5.79
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.52 2.90 2.31 3.58 5.36
Fund with Sales Charge (%) (POP) 3.52 2.90 2.31 3.58 5.36
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.85

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 1.14 2.09 2.06 3.27
Fund without Sales Charge (%) (NAV) After Shares Sold 1.91 2.38 2.38 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 1.14 2.09 2.06 3.27
Fund with Sales Charge (%) (POP) After Shares Sold 1.91 2.38 2.38 3.38
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.52 2.90 2.31 3.58
Fund without Sales Charge (%) (NAV) After Shares Sold 3.40 3.00 2.56 3.62
Fund with Sales Charge (%) (POP) Before Shares Sold 3.52 2.90 2.31 3.58
Fund with Sales Charge (%) (POP) After Shares Sold 3.40 3.00 2.56 3.62

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 6.36 0.67 2.58 1.24
Fund with Sales Charge (%) (POP) 6.36 0.67 2.58 1.24
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25

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 09/01/1987
Fund without Sales Charge (%) (NAV) -3.81 -2.21 1.14 6.40 10.72 38.02 438.00
Fund with Sales Charge (%) (POP) -3.81 -2.21 1.14 6.40 10.72 38.02 438.00
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 528.50
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -0.33 -0.33 3.52 8.95 12.10 42.21 448.36
Fund with Sales Charge (%) (POP) -0.33 -0.33 3.52 8.95 12.10 42.21 448.36
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 536.49

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.29
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio 0.12
Information Ratio -1.49
Tracking Error 0.79

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

3 YR 5 YR 10 YR
Beta Bull 0.84
Beta Bear 0.91
Bull Bear Capture Ratio 0.83
% of Positive Months 69.44
Gains/Losses 1.65
Maximum Drawdown
5.12

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

Gross Expense Ratio 0.62%
Net Expense Ratio [further-information] 0.62%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 04/30/2020 Updated Monthly, based on a 3-year period

Beta 0.89
Sharpe Ratio 0.12
Standard Deviation 3.29

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index