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) 7.96 2.57 2.82 3.41 5.60
Fund with Sales Charge (%) (POP) 3.92 1.27 2.03 3.01 5.48
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) 7.96 2.57 2.82 3.41 5.60
Fund with Sales Charge (%) (POP) 3.92 1.27 2.03 3.01 5.48
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 7.96 2.57 2.82 3.41
Fund without Sales Charge (%) (NAV) After Shares Sold 5.85 2.62 2.84 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 3.92 1.27 2.03 3.01
Fund with Sales Charge (%) (POP) After Shares Sold 3.41 1.61 2.23 3.05
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.96 2.57 2.82 3.41
Fund without Sales Charge (%) (NAV) After Shares Sold 5.85 2.62 2.84 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 3.92 1.27 2.03 3.01
Fund with Sales Charge (%) (POP) After Shares Sold 3.41 1.61 2.23 3.05

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.26
Fund with Sales Charge (%) (POP) -4.00
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) 1.51 6.22 7.96 7.92 14.90 39.79 554.18
Fund with Sales Charge (%) (POP) -2.30 2.24 3.92 3.87 10.59 34.55 529.65
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) 1.51 6.22 7.96 7.92 14.90 39.79 554.18
Fund with Sales Charge (%) (POP) -2.30 2.24 3.92 3.87 10.59 34.55 529.65
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) 2.95 2.60 3.36
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.49 -0.44 -0.64
Beta 0.85 0.84 0.96
Sharpe Ratio 0.42 0.66 0.91
Information Ratio -1.11 -1.28 -1.25
Tracking Error 0.73 0.67 0.64
R-Squared 0.97 0.97 0.96

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

3 YR 5 YR 10 YR
Beta Bull 0.95 0.92 1.05
Beta Bear 0.69 0.72 0.90
Bull Bear Capture Ratio 0.91 0.90 0.88
% of Positive Months 66.67 70.00 66.67
Gains/Losses 2.02 2.21 2.28
Maximum Drawdown
2.03 3.76 7.10

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 0.85
Sharpe Ratio 0.42
Standard Deviation 2.95

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index