Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 7.93 2.62 3.34 3.63 5.54
Fund with Sales Charge (%) (POP) 3.89 1.33 2.55 3.23 5.42
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 7.93 2.62 3.34 3.63 5.54
Fund with Sales Charge (%) (POP) 3.89 1.33 2.55 3.23 5.42
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.50

After-Tax Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.94 2.62 3.34 3.62
Fund without Sales Charge (%) (NAV) After Shares Sold 5.93 2.70 3.30 3.60
Fund with Sales Charge (%) (POP) Before Shares Sold 3.89 1.33 2.55 3.23
Fund with Sales Charge (%) (POP) After Shares Sold 3.48 1.69 2.68 3.27
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.94 2.62 3.34 3.62
Fund without Sales Charge (%) (NAV) After Shares Sold 5.93 2.70 3.30 3.60
Fund with Sales Charge (%) (POP) Before Shares Sold 3.89 1.33 2.55 3.23
Fund with Sales Charge (%) (POP) After Shares Sold 3.48 1.69 2.68 3.27

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) -0.16
Fund with Sales Charge (%) (POP) -4.40
Bloomberg Barclays Municipal Bond Index (%) 1.28

Cumulative Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.53 6.41 7.93 8.08 17.86 42.79 541.50
Fund with Sales Charge (%) (POP) -2.28 2.42 3.89 4.03 13.44 37.44 517.45
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.53 6.41 7.93 8.08 17.86 42.79 541.50
Fund with Sales Charge (%) (POP) -2.28 2.42 3.89 4.03 13.44 37.44 517.45
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 778.79

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.12 2.86 4.00
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.46 -0.17 -1.01
Beta 0.88 0.91 1.13
Sharpe Ratio 0.43 0.76 0.83
Information Ratio -0.78 -0.50 -0.49
Tracking Error 0.92 0.80 1.16
R-Squared 0.93 0.93 0.93

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

3 YR 5 YR 10 YR
Beta Bull 1.03 1.00 1.16
Beta Bear 0.69 0.71 1.08
Bull Bear Capture Ratio 0.90 0.94 0.83
% of Positive Months 66.67 70.00 69.17
Gains/Losses 1.99 2.26 2.10
Maximum Drawdown
2.46 3.92 10.03

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 0.86%
Net Expense Ratio [further-information] 0.86%
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 0.88
Sharpe Ratio 0.43
Standard Deviation 3.12

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index