Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 12/31/1969
Fund without Sales Charge (%) (NAV) 4.19 4.16 5.23 5.91 7.91
Fund with Sales Charge (%) (POP) 4.19 4.16 5.23 5.91 7.91
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 12/31/1969
Fund without Sales Charge (%) (NAV) 0.09 3.13 3.85 5.77 7.82
Fund with Sales Charge (%) (POP) 0.09 3.13 3.85 5.77 7.82
ICE BofA US High Yield Constrained Index (%) -1.17 2.92 4.57 6.46

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.78 1.68 2.58 3.18
Fund without Sales Charge (%) (NAV) After Shares Sold 2.42 2.08 2.78 3.35
Fund with Sales Charge (%) (POP) Before Shares Sold 1.78 1.68 2.58 3.18
Fund with Sales Charge (%) (POP) After Shares Sold 2.42 2.08 2.78 3.35
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -2.20 0.68 1.24 3.04
Fund without Sales Charge (%) (NAV) After Shares Sold 0.05 1.34 1.75 3.28
Fund with Sales Charge (%) (POP) Before Shares Sold -2.20 0.68 1.24 3.04
Fund with Sales Charge (%) (POP) After Shares Sold 0.05 1.34 1.75 3.28

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011
Fund without Sales Charge (%) (NAV) 15.26 -3.50 7.00 19.71 -10.47 -0.13 7.29
Fund with Sales Charge (%) (POP) 15.26 -3.50 7.00 19.71 -10.47 -0.13 7.29
ICE BofA US High Yield Constrained Index (%) 14.41 -2.27 7.48 17.49 -4.61 2.51 7.41 15.55 4.37

Cumulative Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 12/31/1969
Fund without Sales Charge (%) (NAV) 9.89 0.70 4.19 13.02 29.01 77.55 4,593.48
Fund with Sales Charge (%) (POP) 9.89 0.70 4.19 13.02 29.01 77.55 4,593.48
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 12/31/1969
Fund without Sales Charge (%) (NAV) 8.88 -3.74 0.09 9.68 20.81 75.29 4,386.68
Fund with Sales Charge (%) (POP) 8.88 -3.74 0.09 9.68 20.81 75.29 4,386.68
ICE BofA US High Yield Constrained Index (%) 9.54 -4.84 -1.17 9.02 25.05 87.02

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 8.55 8.51 7.51
Standard Deviation (ICE BofA US High Yield Constrained Index) 9.09 8.13 7.07
Beta 0.93 1.02 1.04
Sharpe Ratio 0.30 0.48 0.71
Information Ratio 0.03 -0.24 -0.41
Tracking Error 1.40 1.88 1.68

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.98 1.05 1.04
Beta Bear 0.83 0.84 0.85
Bull Bear Capture Ratio 1.00 0.92 0.89
Gains/Losses 1.60 1.68 1.85

SALES CHARGE, EXPENSES & FEES As of 10/01/2019 (updated annually)

Gross Expense Ratio 0.56%
Net Expense Ratio [further-information] 0.51%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Beta 0.93
Sharpe Ratio 0.30
Standard Deviation 8.55

Benchmarks

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

  • ICE BofA US High Yield Constrained Index