Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.78 3.28 3.02 3.78 5.51
Fund with Sales Charge (%) (POP) 3.78 3.28 3.02 3.78 5.51
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 5.87
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.91 3.13 2.59 3.80 5.48
Fund with Sales Charge (%) (POP) 3.91 3.13 2.59 3.80 5.48
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 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.78 3.28 3.02 3.78
Fund without Sales Charge (%) (NAV) After Shares Sold 3.43 3.27 3.12 3.80
Fund with Sales Charge (%) (POP) Before Shares Sold 3.78 3.28 3.02 3.78
Fund with Sales Charge (%) (POP) After Shares Sold 3.43 3.27 3.12 3.80
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.91 3.13 2.59 3.80
Fund without Sales Charge (%) (NAV) After Shares Sold 3.61 3.18 2.80 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold 3.91 3.13 2.59 3.80
Fund with Sales Charge (%) (POP) After Shares Sold 3.61 3.18 2.80 3.83

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.76 1.10 2.88 1.50 2.10 11.08 -5.23 8.54 12.17 0.11
Fund with Sales Charge (%) (POP) 6.76 1.10 2.88 1.50 2.10 11.08 -5.23 8.54 12.17 0.11
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38

Cumulative Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -1.75 1.39 3.78 10.17 16.05 44.88 478.57
Fund with Sales Charge (%) (POP) -1.75 1.39 3.78 10.17 16.05 44.88 478.57
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 548.50
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) -0.27 -0.27 3.91 9.69 13.65 45.23 469.09
Fund with Sales Charge (%) (POP) -0.27 -0.27 3.91 9.69 13.65 45.23 469.09
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 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.69 3.33 4.21
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.50 0.63 0.77
Information Ratio -1.03 -0.72 -0.31
Tracking Error 0.70 0.99 1.25

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

3 YR 5 YR 10 YR
Beta Bull 1.02 0.94 1.12
Beta Bear 0.91 0.83 1.01
Bull Bear Capture Ratio 0.93 0.97 0.91
Gains/Losses 2.11 2.18 2.05

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (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 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.50
Standard Deviation 3.69

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index