Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 12.35 6.00 4.53 5.38 5.62
Fund with Sales Charge (%) (POP) 8.14 4.66 3.74 4.98 5.52
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 9.75 5.36 3.99 4.99
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 8.99 5.08 3.91 5.14 5.53
Fund with Sales Charge (%) (POP) 4.90 3.75 3.12 4.74 5.44
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 4.77 3.52 4.85

After-Tax Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 12.35 6.00 4.53 5.38
Fund without Sales Charge (%) (NAV) After Shares Sold 8.66 5.40 4.29 5.11
Fund with Sales Charge (%) (POP) Before Shares Sold 8.14 4.66 3.74 4.98
Fund with Sales Charge (%) (POP) After Shares Sold 6.12 4.34 3.65 4.77
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.99 5.08 3.91 5.14
Fund without Sales Charge (%) (NAV) After Shares Sold 6.72 4.72 3.83 4.95
Fund with Sales Charge (%) (POP) Before Shares Sold 4.90 3.75 3.12 4.74
Fund with Sales Charge (%) (POP) After Shares Sold 4.25 3.67 3.20 4.60

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 8.99 0.40
Fund with Sales Charge (%) (POP) 4.90 -3.87
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 1.11

Cumulative Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) 4.64 4.25 12.35 19.10 24.82 68.88 952.01
Fund with Sales Charge (%) (POP) 0.72 0.34 8.14 14.64 20.13 62.55 912.56
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 3.41 3.11 9.75 16.96 21.60 62.73
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) 0.45 8.99 8.99 16.04 21.16 65.14 909.17
Fund with Sales Charge (%) (POP) -3.31 4.90 4.90 11.69 16.61 58.95 871.32
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 0.69 7.67 7.67 14.99 18.87 60.56

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.33 3.89 4.56
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 2.67 3.09 3.78
Alpha -0.12 -0.09 -0.30
Beta 1.21 1.23 1.16
Sharpe Ratio 1.30 0.89 1.06
Information Ratio 0.67 0.49 0.31
Tracking Error 0.98 1.13 1.34
R-Squared 0.94 0.95 0.93

ADDITIONAL RISK STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.30 1.29 1.08
Beta Bear 1.25 1.20 1.20
Bull Bear Capture Ratio 0.97 0.96 0.93
% of Positive Months 72.22 71.67 70.83
Gains/Losses 3.75 2.51 2.45
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 1.00%

Volatility Measures [further-information] As of 02/29/2020 Updated Monthly, based on a 3-year period

Beta 1.21
Sharpe Ratio 1.30
Standard Deviation 3.33

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