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 04/03/1985
Fund without Sales Charge (%) (NAV) 4.82 3.84 3.33 3.69 5.63
Fund with Sales Charge (%) (POP) 4.82 3.84 3.33 3.69 5.63
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.45
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 4.82 3.84 3.33 3.69 5.63
Fund with Sales Charge (%) (POP) 4.82 3.84 3.33 3.69 5.63
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.45

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 4.82 3.84 3.33 3.69
Fund without Sales Charge (%) (NAV) After Shares Sold 3.92 3.62 3.25 3.61
Fund with Sales Charge (%) (POP) Before Shares Sold 4.82 3.84 3.33 3.69
Fund with Sales Charge (%) (POP) After Shares Sold 3.92 3.62 3.25 3.61
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.82 3.84 3.33 3.69
Fund without Sales Charge (%) (NAV) After Shares Sold 3.92 3.62 3.25 3.61
Fund with Sales Charge (%) (POP) Before Shares Sold 4.82 3.84 3.33 3.69
Fund with Sales Charge (%) (POP) After Shares Sold 3.92 3.62 3.25 3.61

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 6.91 0.45 4.13
Fund with Sales Charge (%) (POP) 6.91 0.45 4.13
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 04/03/1985
Fund without Sales Charge (%) (NAV) 2.20 2.74 4.82 11.98 17.78 43.70 588.78
Fund with Sales Charge (%) (POP) 2.20 2.74 4.82 11.98 17.78 43.70 588.78
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 803.64
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 2.20 2.74 4.82 11.98 17.78 43.70 588.78
Fund with Sales Charge (%) (POP) 2.20 2.74 4.82 11.98 17.78 43.70 588.78
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 803.64

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.67 3.32 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha -0.23 -0.27 -0.43
Beta 0.92 0.86 0.95
Sharpe Ratio 0.58 0.64 0.81
Information Ratio -0.47 -0.72 -0.80
Tracking Error 0.94 0.94 0.78
R-Squared 0.94 0.94 0.96

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

3 YR 5 YR 10 YR
Beta Bull 1.11 1.05 1.08
Beta Bear 0.62 0.66 0.81
Bull Bear Capture Ratio 0.97 0.96 0.92
% of Positive Months 72.22 76.67 68.33
Gains/Losses 2.22 2.22 2.12
Maximum Drawdown
4.11 4.11 7.10

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.55%
Net Expense Ratio [further-information] 0.53%
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 0.92
Sharpe Ratio 0.58
Standard Deviation 3.67

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index