Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/07/1983
Fund without Sales Charge (%) (NAV) 4.02 3.55 3.24 4.12 6.29
Fund with Sales Charge (%) (POP) 4.02 3.55 3.24 4.12 6.29
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.58
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/07/1983
Fund without Sales Charge (%) (NAV) 4.02 3.55 3.24 4.12 6.29
Fund with Sales Charge (%) (POP) 4.02 3.55 3.24 4.12 6.29
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.58

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.02 3.55 3.24 4.12
Fund without Sales Charge (%) (NAV) After Shares Sold 3.71 3.54 3.34 4.10
Fund with Sales Charge (%) (POP) Before Shares Sold 4.02 3.55 3.24 4.12
Fund with Sales Charge (%) (POP) After Shares Sold 3.71 3.54 3.34 4.10
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.02 3.55 3.24 4.12
Fund without Sales Charge (%) (NAV) After Shares Sold 3.71 3.54 3.34 4.10
Fund with Sales Charge (%) (POP) Before Shares Sold 4.02 3.55 3.24 4.12
Fund with Sales Charge (%) (POP) After Shares Sold 3.71 3.54 3.34 4.10

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 7.00 0.75 3.40
Fund with Sales Charge (%) (POP) 7.00 0.75 3.40
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 2.23 1.82 4.02 11.04 17.30 49.68 839.86
Fund with Sales Charge (%) (POP) 2.23 1.82 4.02 11.04 17.30 49.68 839.86
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 938.23
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 2.23 1.82 4.02 11.04 17.30 49.68 839.86
Fund with Sales Charge (%) (POP) 2.23 1.82 4.02 11.04 17.30 49.68 839.86
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 938.23

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.95 3.51 4.11
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha -0.52 -0.38 -0.31
Beta 1.01 0.91 1.06
Sharpe Ratio 0.52 0.62 0.85
Information Ratio -0.83 -0.79 -0.14
Tracking Error 0.63 0.81 0.92
R-Squared 0.97 0.95 0.95

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.05 0.98 1.11
Beta Bear 1.05 0.90 1.02
Bull Bear Capture Ratio 0.93 0.95 0.95
% of Positive Months 69.44 73.33 70.83
Gains/Losses 2.14 2.18 2.18
Maximum Drawdown
5.55 5.55 8.28

SALES CHARGE, EXPENSES & FEES As of 09/01/2019 (updated annually)

Gross Expense Ratio 0.49%
Net Expense Ratio [further-information] 0.49%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 1.01
Sharpe Ratio 0.52
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