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 10/03/1988
Fund without Sales Charge (%) (NAV) 0.65 2.17 2.19 3.06 5.01
Fund with Sales Charge (%) (POP) 0.65 2.17 2.19 3.06 5.01
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 5.70
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 3.49 3.04 2.46 3.41 5.10
Fund with Sales Charge (%) (POP) 3.49 3.04 2.46 3.41 5.10
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.76

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 0.65 2.17 2.19 3.06
Fund without Sales Charge (%) (NAV) After Shares Sold 1.59 2.42 2.47 3.20
Fund with Sales Charge (%) (POP) Before Shares Sold 0.65 2.17 2.19 3.06
Fund with Sales Charge (%) (POP) After Shares Sold 1.59 2.42 2.47 3.20
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.49 3.04 2.46 3.42
Fund without Sales Charge (%) (NAV) After Shares Sold 3.35 3.09 2.67 3.48
Fund with Sales Charge (%) (POP) Before Shares Sold 3.49 3.04 2.46 3.42
Fund with Sales Charge (%) (POP) After Shares Sold 3.35 3.09 2.67 3.48

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.39 1.30 3.06 1.24 1.16 10.53 -5.78 6.38 11.02 2.17
Fund with Sales Charge (%) (POP) 6.39 1.30 3.06 1.24 1.16 10.53 -5.78 6.38 11.02 2.17
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 10/03/1988
Fund without Sales Charge (%) (NAV) -4.03 -2.50 0.65 6.65 11.43 35.12 368.62
Fund with Sales Charge (%) (POP) -4.03 -2.50 0.65 6.65 11.43 35.12 368.62
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 475.90
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) -0.38 -0.38 3.49 9.40 12.92 39.91 378.82
Fund with Sales Charge (%) (POP) -0.38 -0.38 3.49 9.40 12.92 39.91 378.82
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 483.22

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 05/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.52 3.31 4.06
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.89 3.75 3.80
Sharpe Ratio 0.31 0.45 0.65
Information Ratio -1.13 -0.96 -0.73
Tracking Error 0.94 1.19 1.27

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

3 YR 5 YR 10 YR
Beta Bull 0.78 0.72 0.95
Beta Bear 0.88 0.82 1.00
Bull Bear Capture Ratio 0.85 0.85 0.83
Gains/Losses 1.82 1.87 1.84

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

Gross Expense Ratio 0.63%
Net Expense Ratio [further-information] 0.63%
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 0.31
Standard Deviation 3.52

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index