Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 8.46 4.69 3.76 5.16 6.08
Fund with Sales Charge (%) (POP) 8.46 4.69 3.76 5.16 6.08
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.93
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 8.23 2.84 3.95 4.93 6.11
Fund with Sales Charge (%) (POP) 8.23 2.84 3.95 4.93 6.11
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.95

After-Tax Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.46 4.69 3.76 5.16
Fund without Sales Charge (%) (NAV) After Shares Sold 6.95 4.66 3.92 5.10
Fund with Sales Charge (%) (POP) Before Shares Sold 8.46 4.69 3.76 5.16
Fund with Sales Charge (%) (POP) After Shares Sold 6.95 4.66 3.92 5.10
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.23 2.84 3.95 4.93
Fund without Sales Charge (%) (NAV) After Shares Sold 6.84 3.21 4.07 4.91
Fund with Sales Charge (%) (POP) Before Shares Sold 8.23 2.84 3.95 4.93
Fund with Sales Charge (%) (POP) After Shares Sold 6.84 3.21 4.07 4.91

Calendar Year Returns

2018 2017
Fund without Sales Charge (%) (NAV) 2.17 3.86
Fund with Sales Charge (%) (POP) 2.17 3.86
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) -0.46 7.50 8.46 14.72 20.25 65.31 630.75
Fund with Sales Charge (%) (POP) -0.46 7.50 8.46 14.72 20.25 65.31 630.75
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 597.23
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 1.83 7.43 8.23 8.77 21.38 61.81 630.26
Fund with Sales Charge (%) (POP) 1.83 7.43 8.23 8.77 21.38 61.81 630.26
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 594.25

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.27 3.20 4.42
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Alpha 0.22 0.15 -0.13
Beta 0.84 1.00 1.23
Sharpe Ratio 1.36 0.85 1.03
Information Ratio -0.35 0.15 0.46
Tracking Error 0.96 1.00 1.59
R-Squared 0.85 0.90 0.90

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.79 0.93 1.18
Beta Bear 0.61 1.06 1.36
Bull Bear Capture Ratio 1.08 1.03 0.99
Gains/Losses 3.97 2.47 2.43

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

Gross Expense Ratio 0.52%
Net Expense Ratio [further-information] 0.52%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Beta 0.84
Sharpe Ratio 1.36
Standard Deviation 2.27

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index