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) 1.53 2.68 2.45 3.65 5.31
Fund with Sales Charge (%) (POP) 1.53 2.68 2.45 3.65 5.31
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.65 3.44 2.65 3.93 5.38
Fund with Sales Charge (%) (POP) 3.65 3.44 2.65 3.93 5.38
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 1.53 2.68 2.45 3.65
Fund without Sales Charge (%) (NAV) After Shares Sold 2.14 2.84 2.69 3.72
Fund with Sales Charge (%) (POP) Before Shares Sold 1.53 2.68 2.45 3.65
Fund with Sales Charge (%) (POP) After Shares Sold 2.14 2.84 2.69 3.72
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.65 3.44 2.65 3.93
Fund without Sales Charge (%) (NAV) After Shares Sold 3.44 3.42 2.83 3.93
Fund with Sales Charge (%) (POP) Before Shares Sold 3.65 3.44 2.65 3.93
Fund with Sales Charge (%) (POP) After Shares Sold 3.44 3.42 2.83 3.93

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.10 0.81 4.15 1.10 2.05 11.17 -4.88 8.92 10.89 0.92
Fund with Sales Charge (%) (POP) 7.10 0.81 4.15 1.10 2.05 11.17 -4.88 8.92 10.89 0.92
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 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) -4.09 -2.28 1.53 8.25 12.88 43.14 441.92
Fund with Sales Charge (%) (POP) -4.09 -2.28 1.53 8.25 12.88 43.14 441.92
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) -0.68 -0.68 3.65 10.67 13.97 46.97 450.81
Fund with Sales Charge (%) (POP) -0.68 -0.68 3.65 10.67 13.97 46.97 450.81
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 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.95 3.57 4.22
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.89 3.75 3.80
Sharpe Ratio 0.44 0.55 0.78
Information Ratio -0.73 -0.75 -0.21
Tracking Error 0.57 0.88 1.12

ADDITIONAL RISK STATISTICSAs of 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.01 0.96 1.11
Beta Bear 1.13 0.93 1.07
Bull Bear Capture Ratio 0.95 0.93 0.93
Gains/Losses 2.03 2.06 2.07

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 05/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.44
Standard Deviation 3.95

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index