Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 4.70 4.07 3.32 3.45 5.57
Fund with Sales Charge (%) (POP) 0.77 2.75 2.54 3.05 5.46
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.45
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 4.70 4.07 3.32 3.45 5.57
Fund with Sales Charge (%) (POP) 0.77 2.75 2.54 3.05 5.46
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.45

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.70 4.06 3.33 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 3.82 3.78 3.27 3.46
Fund with Sales Charge (%) (POP) Before Shares Sold 0.77 2.75 2.54 3.05
Fund with Sales Charge (%) (POP) After Shares Sold 1.45 2.75 2.64 3.13
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.70 4.06 3.33 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 3.82 3.78 3.27 3.46
Fund with Sales Charge (%) (POP) Before Shares Sold 0.77 2.75 2.54 3.05
Fund with Sales Charge (%) (POP) After Shares Sold 1.45 2.75 2.64 3.13

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 7.20 0.87
Fund with Sales Charge (%) (POP) 3.18 -2.91
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.97 2.50 4.70 12.70 17.77 40.35 575.81
Fund with Sales Charge (%) (POP) -1.86 -1.35 0.77 8.47 13.35 35.08 550.46
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 803.64
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.97 2.50 4.70 12.70 17.77 40.35 575.81
Fund with Sales Charge (%) (POP) -1.86 -1.35 0.77 8.47 13.35 35.08 550.46
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 803.64

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.43 3.15 3.62
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha 0.19 -0.03 -0.38
Beta 0.86 0.80 0.90
Sharpe Ratio 0.71 0.70 0.79
Information Ratio -0.17 -0.50 -0.62
Tracking Error 0.88 1.20 1.24
R-Squared 0.96 0.91 0.89

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

3 YR 5 YR 10 YR
Beta Bull 1.01 0.92 0.93
Beta Bear 0.65 0.66 0.83
Bull Bear Capture Ratio 1.08 1.02 0.92
Gains/Losses 2.49 2.29 2.07

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.82%
Net Expense Ratio [further-information] 0.82%
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 0.86
Sharpe Ratio 0.71
Standard Deviation 3.43

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index