Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 8.39 2.70 3.08 4.05 5.55
Fund with Sales Charge (%) (POP) 8.39 2.70 3.08 4.05 5.55
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.93
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) 7.83 2.52 3.22 3.85 5.57
Fund with Sales Charge (%) (POP) 7.83 2.52 3.22 3.85 5.57
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 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.39 2.70 3.08 4.05
Fund without Sales Charge (%) (NAV) After Shares Sold 6.39 2.86 3.20 4.04
Fund with Sales Charge (%) (POP) Before Shares Sold 8.39 2.70 3.08 4.05
Fund with Sales Charge (%) (POP) After Shares Sold 6.39 2.86 3.20 4.04
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.83 2.52 3.22 3.85
Fund without Sales Charge (%) (NAV) After Shares Sold 6.06 2.72 3.31 3.88
Fund with Sales Charge (%) (POP) Before Shares Sold 7.83 2.52 3.22 3.85
Fund with Sales Charge (%) (POP) After Shares Sold 6.06 2.72 3.31 3.88

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.10 2.88 1.50 2.10 11.08 -5.23 8.54 12.17 0.11 16.79
Fund with Sales Charge (%) (POP) 1.10 2.88 1.50 2.10 11.08 -5.23 8.54 12.17 0.11 16.79
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 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.01 6.43 8.39 8.31 16.36 48.72 468.92
Fund with Sales Charge (%) (POP) 1.01 6.43 8.39 8.31 16.36 48.72 468.92
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 536.99
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) 1.90 6.53 7.83 7.76 17.14 45.90 469.42
Fund with Sales Charge (%) (POP) 1.90 6.53 7.83 7.76 17.14 45.90 469.42
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) 2.79 2.60 3.88
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.41 0.81 0.91
Information Ratio -0.89 -0.45 -0.27
Tracking Error 1.03 1.05 1.27

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

3 YR 5 YR 10 YR
Beta Bull 0.85 0.87 1.13
Beta Bear 0.71 0.72 1.09
Bull Bear Capture Ratio 0.94 1.03 0.91
% of Positive Months 63.89 66.67 69.17
Gains/Losses 2.03 2.41 2.27
Maximum Drawdown
1.33 3.65 8.93

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

Gross Expense Ratio 0.59%
Net Expense Ratio [further-information] 0.59%
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 0.41
Standard Deviation 2.79

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index