Average Annual Total Returns [further-information] As of 08/31/2020

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares.
Month EndAs of 08/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 2.36 4.23 4.37 4.64 5.52
Fund with Sales Charge (%) (POP) -1.48 2.91 3.57 4.24 5.43
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 3.37 4.18 3.95 4.32
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 4.29 4.33 4.33 4.90 5.51
Fund with Sales Charge (%) (POP) 0.38 3.01 3.53 4.50 5.42
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.83 4.33 3.95 4.67

After-Tax Average Annual Total Returns [further-information] As of 08/31/2020

Month EndAs of 08/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.36 4.23 4.37 4.64
Fund without Sales Charge (%) (NAV) After Shares Sold 2.56 4.01 4.16 4.50
Fund with Sales Charge (%) (POP) Before Shares Sold -1.48 2.91 3.57 4.24
Fund with Sales Charge (%) (POP) After Shares Sold 0.24 2.98 3.52 4.16
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.29 4.33 4.33 4.90
Fund without Sales Charge (%) (NAV) After Shares Sold 3.75 4.10 4.14 4.72
Fund with Sales Charge (%) (POP) Before Shares Sold 0.38 3.01 3.53 4.50
Fund with Sales Charge (%) (POP) After Shares Sold 1.39 3.06 3.51 4.39

Calendar Year Returns

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares.
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 08/31/2020

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares.
Month EndAs of 08/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) 2.44 2.97 2.36 13.24 23.82 57.44 939.13
Fund with Sales Charge (%) (POP) -1.40 -0.89 -1.48 8.99 19.18 51.54 900.16
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 1.62 3.43 3.37 13.06 21.41 52.70
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) 3.13 1.69 4.29 13.56 23.59 61.33 926.22
Fund with Sales Charge (%) (POP) -0.73 -2.12 0.38 9.30 18.95 55.28 887.73
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 2.87 2.36 4.83 13.57 21.39 57.79

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 08/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.30 4.99 5.04
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 4.00 3.88 4.02
Alpha -0.66 -0.29 -0.44
Beta 1.30 1.26 1.22
Sharpe Ratio 0.50 0.65 0.81
Information Ratio 0.04 0.29 0.23
Tracking Error 1.56 1.44 1.48
R-Squared 0.97 0.96 0.94

ADDITIONAL RISK STATISTICSAs of 08/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.19 1.18 1.12
Beta Bear 1.59 1.44 1.30
Bull Bear Capture Ratio 0.89 0.95 0.93
% of Positive Months 66.67 71.67 69.17
Gains/Losses 1.92 2.07 2.06
Maximum Drawdown
6.96 6.96 8.62

SALES CHARGE, EXPENSES & FEES As of 08/01/2020 (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 08/31/2020 Updated Monthly, based on a 3-year period

Beta 1.30
Sharpe Ratio 0.50
Standard Deviation 5.30

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