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 02/01/1977
Fund without Sales Charge (%) (NAV) 10.94 3.59 4.06 5.10 5.55
Fund with Sales Charge (%) (POP) 6.77 2.28 3.27 4.70 5.45
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 9.43 3.63 3.55 4.86
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 02/01/1977
Fund without Sales Charge (%) (NAV) 9.74 3.20 4.28 4.82 5.56
Fund with Sales Charge (%) (POP) 5.62 1.89 3.48 4.42 5.46
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 8.48 3.17 3.66 4.53

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 10.93 3.59 4.06 5.10
Fund without Sales Charge (%) (NAV) After Shares Sold 7.93 3.55 3.96 4.91
Fund with Sales Charge (%) (POP) Before Shares Sold 6.78 2.28 3.27 4.70
Fund with Sales Charge (%) (POP) After Shares Sold 5.41 2.53 3.33 4.57
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 9.74 3.20 4.28 4.82
Fund without Sales Charge (%) (NAV) After Shares Sold 7.21 3.25 4.13 4.67
Fund with Sales Charge (%) (POP) Before Shares Sold 5.62 1.89 3.48 4.42
Fund with Sales Charge (%) (POP) After Shares Sold 4.72 2.23 3.50 4.33

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.40
Fund with Sales Charge (%) (POP) -3.87
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 1.11

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 02/01/1977
Fund without Sales Charge (%) (NAV) 1.39 8.48 10.94 11.16 22.04 64.48 904.44
Fund with Sales Charge (%) (POP) -2.41 4.41 6.77 7.00 17.46 58.32 866.77
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 1.04 7.12 9.43 11.28 19.06 60.78
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) 2.09 8.49 9.74 9.91 23.29 60.12 904.60
Fund with Sales Charge (%) (POP) -1.74 4.42 5.62 5.79 18.67 54.11 866.93
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 1.71 6.93 8.48 9.79 19.70 55.74

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.31 3.89 4.51
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 3.52 3.10 3.75
Alpha -0.41 -0.04 -0.41
Beta 1.20 1.22 1.16
Sharpe Ratio 0.47 0.79 1.02
Information Ratio -0.03 0.47 0.19
Tracking Error 1.11 1.13 1.32
R-Squared 0.96 0.95 0.93

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

3 YR 5 YR 10 YR
Beta Bull 1.21 1.26 1.08
Beta Bear 1.27 1.20 1.20
Bull Bear Capture Ratio 0.92 0.97 0.92
% of Positive Months 69.44 70.00 70.00
Gains/Losses 1.97 2.27 2.38
Maximum Drawdown
2.10 6.39 8.62

SALES CHARGE, EXPENSES & FEES As of 08/01/2019 (updated annually)

Gross Expense Ratio 0.76%
Net Expense Ratio [further-information] 0.76%
Max Initial Sales Charge 3.75%
CDSC 0.75%

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

Beta 1.20
Sharpe Ratio 0.47
Standard Deviation 4.31

Benchmarks

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

  • Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index