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) 8.55 2.64 2.92 3.32 5.61
Fund with Sales Charge (%) (POP) 4.48 1.34 2.13 2.92 5.49
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) 8.55 2.64 2.92 3.32 5.61
Fund with Sales Charge (%) (POP) 4.48 1.34 2.13 2.92 5.49
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 8.55 2.64 2.92 3.32
Fund without Sales Charge (%) (NAV) After Shares Sold 6.24 2.73 2.99 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 4.48 1.34 2.14 2.92
Fund with Sales Charge (%) (POP) After Shares Sold 3.79 1.71 2.37 3.05
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.55 2.64 2.92 3.32
Fund without Sales Charge (%) (NAV) After Shares Sold 6.24 2.73 2.99 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 4.48 1.34 2.14 2.92
Fund with Sales Charge (%) (POP) After Shares Sold 3.79 1.71 2.37 3.05

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.87
Fund with Sales Charge (%) (POP) -3.41
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) 1.77 6.80 8.55 8.12 15.47 38.61 556.88
Fund with Sales Charge (%) (POP) -2.05 2.79 4.48 4.07 11.13 33.41 532.24
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) 1.77 6.80 8.55 8.12 15.47 38.61 556.88
Fund with Sales Charge (%) (POP) -2.05 2.79 4.48 4.07 11.13 33.41 532.24
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) 2.81 2.62 3.34
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.24 -0.27 -0.55
Beta 0.78 0.80 0.91
Sharpe Ratio 0.49 0.67 0.89
Information Ratio -0.67 -0.72 -0.76
Tracking Error 1.02 1.13 1.20
R-Squared 0.93 0.87 0.88

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

3 YR 5 YR 10 YR
Beta Bull 0.92 0.84 0.91
Beta Bear 0.67 0.68 0.92
Bull Bear Capture Ratio 0.99 0.94 0.89
% of Positive Months 69.44 70.00 70.00
Gains/Losses 2.18 2.17 2.22
Maximum Drawdown
1.50 3.74 7.72

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

Gross Expense Ratio 0.83%
Net Expense Ratio [further-information] 0.83%
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 0.78
Sharpe Ratio 0.49
Standard Deviation 2.81

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index