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 09/01/1987
Fund without Sales Charge (%) (NAV) 7.52 2.45 3.15 3.55 5.32
Fund with Sales Charge (%) (POP) 7.52 2.45 3.15 3.55 5.32
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.52 2.45 3.15 3.55 5.32
Fund with Sales Charge (%) (POP) 7.52 2.45 3.15 3.55 5.32
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 7.51 2.44 3.15 3.55
Fund without Sales Charge (%) (NAV) After Shares Sold 5.78 2.62 3.21 3.60
Fund with Sales Charge (%) (POP) Before Shares Sold 7.51 2.44 3.15 3.55
Fund with Sales Charge (%) (POP) After Shares Sold 5.78 2.62 3.21 3.60
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.51 2.44 3.15 3.55
Fund without Sales Charge (%) (NAV) After Shares Sold 5.78 2.62 3.21 3.60
Fund with Sales Charge (%) (POP) Before Shares Sold 7.51 2.44 3.15 3.55
Fund with Sales Charge (%) (POP) After Shares Sold 5.78 2.62 3.21 3.60

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.73 3.92 1.09 2.42 9.88 -6.17 6.98 11.20 1.29 14.30
Fund with Sales Charge (%) (POP) 0.73 3.92 1.09 2.42 9.88 -6.17 6.98 11.20 1.29 14.30
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.76 6.07 7.52 7.52 16.75 41.71 426.70
Fund with Sales Charge (%) (POP) 1.76 6.07 7.52 7.52 16.75 41.71 426.70
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.76 6.07 7.52 7.52 16.75 41.71 426.70
Fund with Sales Charge (%) (POP) 1.76 6.07 7.52 7.52 16.75 41.71 426.70
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.94 2.73 3.73
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.38 0.75 0.86
Information Ratio -1.31 -0.78 -0.71
Tracking Error 0.71 0.68 0.94

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

3 YR 5 YR 10 YR
Beta Bull 0.89 0.95 1.09
Beta Bear 0.84 0.82 1.06
Bull Bear Capture Ratio 0.91 0.97 0.86
% of Positive Months 69.44 71.67 68.33
Gains/Losses 2.04 2.36 2.18
Maximum Drawdown
1.45 4.15 9.48

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

Gross Expense Ratio 0.55%
Net Expense Ratio [further-information] 0.55%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.38
Standard Deviation 2.94

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index