Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 10/07/1983
Fund without Sales Charge (%) (NAV) 7.91 2.48 3.15 4.09 6.36
Fund with Sales Charge (%) (POP) 7.91 2.48 3.15 4.09 6.36
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 10/07/1983
Fund without Sales Charge (%) (NAV) 7.91 2.48 3.15 4.09 6.36
Fund with Sales Charge (%) (POP) 7.91 2.48 3.15 4.09 6.36
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.64

After-Tax Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.91 2.48 3.15 4.09
Fund without Sales Charge (%) (NAV) After Shares Sold 6.22 2.74 3.28 4.09
Fund with Sales Charge (%) (POP) Before Shares Sold 7.91 2.48 3.15 4.09
Fund with Sales Charge (%) (POP) After Shares Sold 6.22 2.74 3.28 4.09
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.91 2.48 3.15 4.09
Fund without Sales Charge (%) (NAV) After Shares Sold 6.22 2.74 3.28 4.09
Fund with Sales Charge (%) (POP) Before Shares Sold 7.91 2.48 3.15 4.09
Fund with Sales Charge (%) (POP) After Shares Sold 6.22 2.74 3.28 4.09

Calendar Year Returns

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

Cumulative Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 1.77 6.58 7.91 7.61 16.75 49.31 819.51
Fund with Sales Charge (%) (POP) 1.77 6.58 7.91 7.61 16.75 49.31 819.51
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 1.77 6.58 7.91 7.61 16.75 49.31 819.51
Fund with Sales Charge (%) (POP) 1.77 6.58 7.91 7.61 16.75 49.31 819.51
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 909.67

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.81 2.62 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.37 -0.12 -0.31
Beta 0.80 0.84 1.05
Sharpe Ratio 0.45 0.78 1.01
Information Ratio -0.89 -0.70 -0.15
Tracking Error 0.90 0.77 0.92
R-Squared 0.96 0.95 0.94

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.89 0.92 1.12
Beta Bear 0.76 0.74 1.03
Bull Bear Capture Ratio 0.97 0.99 0.96
% of Positive Months 66.67 70.00 71.67
Gains/Losses 2.17 2.42 2.45
Maximum Drawdown
1.25 3.97 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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.80
Sharpe Ratio 0.45
Standard Deviation 2.81

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index