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 04/03/1985
Fund without Sales Charge (%) (NAV) 3.31 3.27 2.76 3.31 5.57
Fund with Sales Charge (%) (POP) 3.31 3.27 2.76 3.31 5.57
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 6.36
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 5.06 3.83 2.85 3.52 5.62
Fund with Sales Charge (%) (POP) 5.06 3.83 2.85 3.52 5.62
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 6.41

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 3.31 3.27 2.76 3.30
Fund without Sales Charge (%) (NAV) After Shares Sold 3.12 3.23 2.88 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 3.31 3.27 2.76 3.30
Fund with Sales Charge (%) (POP) After Shares Sold 3.12 3.23 2.88 3.38
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.06 3.83 2.85 3.52
Fund without Sales Charge (%) (NAV) After Shares Sold 4.21 3.66 2.94 3.55
Fund with Sales Charge (%) (POP) Before Shares Sold 5.06 3.83 2.85 3.52
Fund with Sales Charge (%) (POP) After Shares Sold 4.21 3.66 2.94 3.55

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.36 1.02 3.40 1.26 1.00 11.02 -5.04 6.19 10.04 0.42
Fund with Sales Charge (%) (POP) 7.36 1.02 3.40 1.26 1.00 11.02 -5.04 6.19 10.04 0.42
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 04/03/1985
Fund without Sales Charge (%) (NAV) -2.29 -0.65 3.31 10.13 14.56 38.44 568.26
Fund with Sales Charge (%) (POP) -2.29 -0.65 3.31 10.13 14.56 38.44 568.26
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 768.64
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.59 0.59 5.06 11.92 15.08 41.37 576.58
Fund with Sales Charge (%) (POP) 0.59 0.59 5.06 11.92 15.08 41.37 576.58
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 779.68

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.06 2.92 3.52
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio 0.52 0.57 0.78
Information Ratio 0.01 -0.22 -0.47
Tracking Error 0.94 1.23 1.23

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

3 YR 5 YR 10 YR
Beta Bull 0.93 0.86 0.92
Beta Bear 0.69 0.68 0.83
Bull Bear Capture Ratio 1.10 1.07 0.95
% of Positive Months 69.44 71.67 68.33
Gains/Losses 2.19 2.05 2.04
Maximum Drawdown
3.70 3.79 7.67

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

Gross Expense Ratio 0.58%
Net Expense Ratio [further-information] 0.58%
Max Initial Sales Charge 0.00%
CDSC

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

Sharpe Ratio 0.52
Standard Deviation 3.06

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index