Average Annual Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.55 3.75 2.62 3.86 5.35
Fund with Sales Charge (%) (POP) 7.55 3.75 2.62 3.86 5.35
Bloomberg Barclays Municipal Bond Index (%) 8.65 5.12 3.53 4.47 5.95
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.54 3.42 2.66 3.73 5.32
Fund with Sales Charge (%) (POP) 6.54 3.42 2.66 3.73 5.32
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91

After-Tax Average Annual Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.55 3.75 2.62 3.86
Fund without Sales Charge (%) (NAV) After Shares Sold 5.80 3.62 2.78 3.84
Fund with Sales Charge (%) (POP) Before Shares Sold 7.55 3.75 2.62 3.86
Fund with Sales Charge (%) (POP) After Shares Sold 5.80 3.62 2.78 3.84
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.54 3.42 2.66 3.73
Fund without Sales Charge (%) (NAV) After Shares Sold 5.20 3.38 2.82 3.74
Fund with Sales Charge (%) (POP) Before Shares Sold 6.54 3.42 2.66 3.73
Fund with Sales Charge (%) (POP) After Shares Sold 5.20 3.38 2.82 3.74

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 6.54 0.65 3.17 1.82
Fund with Sales Charge (%) (POP) 6.54 0.65 3.17 1.82
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25

Cumulative Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.00 1.50 7.55 11.67 13.80 46.10 442.07
Fund with Sales Charge (%) (POP) 2.00 1.50 7.55 11.67 13.80 46.10 442.07
Bloomberg Barclays Municipal Bond Index (%) 2.36 1.80 8.65 16.15 18.96 54.89 552.04
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.65 6.54 6.54 10.63 14.02 44.28 434.03
Fund with Sales Charge (%) (POP) 0.65 6.54 6.54 10.63 14.02 44.28 434.03
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 01/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.16
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Sharpe Ratio 0.97
Information Ratio -1.91
Tracking Error 0.71

ADDITIONAL RISK STATISTICSAs of 01/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.80
Beta Bear 0.62
Bull Bear Capture Ratio 0.86
% of Positive Months 72.22
Gains/Losses 3.26
Maximum Drawdown
1.37

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

Gross Expense Ratio 0.66%
Net Expense Ratio [further-information] 0.66%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 01/31/2020 Updated Monthly, based on a 3-year period

Beta 0.81
Sharpe Ratio 0.97
Standard Deviation 2.16

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index