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 09/01/1987
Fund without Sales Charge (%) (NAV) 2.29 2.67 2.54 3.28 5.19
Fund with Sales Charge (%) (POP) 2.29 2.67 2.54 3.28 5.19
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 5.79
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 4.39 3.41 2.75 3.58 5.25
Fund with Sales Charge (%) (POP) 4.39 3.41 2.75 3.58 5.25
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.85

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 2.29 2.67 2.54 3.28
Fund without Sales Charge (%) (NAV) After Shares Sold 2.53 2.80 2.73 3.39
Fund with Sales Charge (%) (POP) Before Shares Sold 2.29 2.67 2.54 3.28
Fund with Sales Charge (%) (POP) After Shares Sold 2.53 2.80 2.73 3.39
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.39 3.41 2.75 3.58
Fund without Sales Charge (%) (NAV) After Shares Sold 3.83 3.37 2.88 3.62
Fund with Sales Charge (%) (POP) Before Shares Sold 4.39 3.41 2.75 3.58
Fund with Sales Charge (%) (POP) After Shares Sold 3.83 3.37 2.88 3.62

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 6.48 0.75 3.83
Fund with Sales Charge (%) (POP) 6.48 0.75 3.83
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45

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 09/01/1987
Fund without Sales Charge (%) (NAV) -3.07 -1.35 2.29 8.24 13.37 38.15 421.40
Fund with Sales Charge (%) (POP) -3.07 -1.35 2.29 8.24 13.37 38.15 421.40
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 528.50
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.32 0.32 4.39 10.60 14.51 42.18 430.27
Fund with Sales Charge (%) (POP) 0.32 0.32 4.39 10.60 14.51 42.18 430.27
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 536.49

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.16 3.08 3.91
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Alpha -0.37 -0.25 -0.74
Beta 0.86 0.85 1.02
Sharpe Ratio 0.31 0.45 0.67
Information Ratio -0.74 -0.67 -0.71
Tracking Error 0.80 0.79 0.97
R-Squared 0.96 0.96 0.94

ADDITIONAL RISK STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.95 0.93 1.09
Beta Bear 0.77 0.80 0.93
Bull Bear Capture Ratio 0.95 0.96 0.87
% of Positive Months 66.67 70.00 65.83
Gains/Losses 1.89 1.91 1.88
Maximum Drawdown
4.40 4.40 9.55

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

Gross Expense Ratio 0.53%
Net Expense Ratio [further-information] 0.52%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 04/30/2020 Updated Monthly, based on a 3-year period

Beta 0.86
Sharpe Ratio 0.31
Standard Deviation 3.16

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index