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 09/01/1987
Fund without Sales Charge (%) (NAV) 7.85 4.07 3.14 4.14 5.45
Fund with Sales Charge (%) (POP) 7.85 4.07 3.14 4.14 5.45
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.92
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 8.04 2.76 3.38 3.94 5.47
Fund with Sales Charge (%) (POP) 8.04 2.76 3.38 3.94 5.47
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 7.85 4.07 3.14 4.14
Fund without Sales Charge (%) (NAV) After Shares Sold 6.00 3.92 3.22 4.11
Fund with Sales Charge (%) (POP) Before Shares Sold 7.85 4.07 3.14 4.14
Fund with Sales Charge (%) (POP) After Shares Sold 6.00 3.92 3.22 4.11
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.04 2.76 3.38 3.94
Fund without Sales Charge (%) (NAV) After Shares Sold 6.14 2.90 3.41 3.94
Fund with Sales Charge (%) (POP) Before Shares Sold 8.04 2.76 3.38 3.94
Fund with Sales Charge (%) (POP) After Shares Sold 6.14 2.90 3.41 3.94

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.81 4.15 1.10 2.05 11.17 -4.88 8.92 10.89 0.92 15.87
Fund with Sales Charge (%) (POP) 0.81 4.15 1.10 2.05 11.17 -4.88 8.92 10.89 0.92 15.87
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 09/01/1987
Fund without Sales Charge (%) (NAV) -0.64 6.83 7.85 12.72 16.71 50.01 453.17
Fund with Sales Charge (%) (POP) -0.64 6.83 7.85 12.72 16.71 50.01 453.17
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 538.58
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.86 6.72 8.04 8.51 18.06 47.19 452.58
Fund with Sales Charge (%) (POP) 1.86 6.72 8.04 8.51 18.06 47.19 452.58
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.18 2.70 3.82
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Sharpe Ratio 1.13 0.79 0.94
Information Ratio -1.32 -0.49 -0.18
Tracking Error 0.72 0.88 1.12

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

3 YR 5 YR 10 YR
Beta Bull 0.86 0.92 1.13
Beta Bear 0.92 0.77 1.08
Bull Bear Capture Ratio 0.97 1.01 0.93
% of Positive Months 72.22 70.00 69.17
Gains/Losses 3.71 2.43 2.33
Maximum Drawdown
1.37 3.95 8.41

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

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

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.13
Standard Deviation 2.18

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index