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 02/01/1977
Fund without Sales Charge (%) (NAV) 3.47 3.89 3.93 4.74 5.49
Fund with Sales Charge (%) (POP) -0.41 2.58 3.14 4.34 5.40
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.59 4.02 3.82 4.59
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 02/01/1977
Fund without Sales Charge (%) (NAV) 3.98 3.99 3.28 4.77 5.47
Fund with Sales Charge (%) (POP) 0.08 2.68 2.49 4.37 5.37
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.21 4.05 3.19 4.61

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 3.47 3.89 3.93 4.74
Fund without Sales Charge (%) (NAV) After Shares Sold 3.26 3.77 3.84 4.60
Fund with Sales Charge (%) (POP) Before Shares Sold -0.41 2.58 3.14 4.34
Fund with Sales Charge (%) (POP) After Shares Sold 0.92 2.74 3.20 4.26
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.98 3.99 3.28 4.77
Fund without Sales Charge (%) (NAV) After Shares Sold 3.67 3.87 3.34 4.64
Fund with Sales Charge (%) (POP) Before Shares Sold 0.08 2.68 2.49 4.37
Fund with Sales Charge (%) (POP) After Shares Sold 1.32 2.84 2.71 4.30

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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) -3.58 0.52 3.47 12.14 21.26 58.95 914.40
Fund with Sales Charge (%) (POP) -7.19 -3.25 -0.41 7.93 16.71 52.99 876.36
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -1.29 1.78 4.59 12.55 20.60 56.63
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 02/01/1977
Fund without Sales Charge (%) (NAV) -1.40 -1.40 3.98 12.46 17.51 59.35 895.04
Fund with Sales Charge (%) (POP) -5.10 -5.10 0.08 8.25 13.11 53.37 857.72
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -0.49 -0.49 4.21 12.66 16.99 56.91

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.19 4.92 5.05
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 3.89 3.81 4.07
Alpha -0.77 -0.34 -0.53
Beta 1.31 1.27 1.20
Sharpe Ratio 0.52 0.66 0.86
Information Ratio 0.00 0.27 0.17
Tracking Error 1.56 1.44 1.49
R-Squared 0.96 0.96 0.94

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

3 YR 5 YR 10 YR
Beta Bull 1.20 1.18 1.08
Beta Bear 1.59 1.43 1.30
Bull Bear Capture Ratio 0.87 0.95 0.92
Gains/Losses 1.98 2.09 2.13

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 06/30/2020 Updated Monthly, based on a 3-year period

Beta 1.31
Sharpe Ratio 0.52
Standard Deviation 5.19

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