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) 4.51 3.58 3.12 3.53 5.56
Fund with Sales Charge (%) (POP) 0.59 2.26 2.34 3.13 5.45
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) 4.51 3.58 3.12 3.53 5.56
Fund with Sales Charge (%) (POP) 0.59 2.26 2.34 3.13 5.45
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 4.51 3.58 3.12 3.53
Fund without Sales Charge (%) (NAV) After Shares Sold 3.61 3.36 3.05 3.45
Fund with Sales Charge (%) (POP) Before Shares Sold 0.59 2.26 2.34 3.13
Fund with Sales Charge (%) (POP) After Shares Sold 1.25 2.33 2.43 3.12
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.51 3.58 3.12 3.53
Fund without Sales Charge (%) (NAV) After Shares Sold 3.61 3.36 3.05 3.45
Fund with Sales Charge (%) (POP) Before Shares Sold 0.59 2.26 2.34 3.13
Fund with Sales Charge (%) (POP) After Shares Sold 1.25 2.33 2.43 3.12

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 6.60 0.26
Fund with Sales Charge (%) (POP) 2.60 -3.50
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) 2.13 2.59 4.51 11.11 16.63 41.43 573.48
Fund with Sales Charge (%) (POP) -1.70 -1.26 0.59 6.95 12.26 36.12 548.22
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) 2.13 2.59 4.51 11.11 16.63 41.43 573.48
Fund with Sales Charge (%) (POP) -1.70 -1.26 0.59 6.95 12.26 36.12 548.22
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) 3.68 3.32 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha -0.42 -0.39 -0.49
Beta 0.92 0.86 0.95
Sharpe Ratio 0.53 0.61 0.80
Information Ratio -0.69 -0.86 -0.88
Tracking Error 0.92 0.93 0.78
R-Squared 0.94 0.95 0.96

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

3 YR 5 YR 10 YR
Beta Bull 1.10 1.05 1.08
Beta Bear 0.62 0.67 0.82
Bull Bear Capture Ratio 0.93 0.94 0.92
% of Positive Months 66.67 73.33 66.67
Gains/Losses 2.15 2.16 2.11
Maximum Drawdown
4.17 4.17 7.10

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

Gross Expense Ratio 0.83%
Net Expense Ratio [further-information] 0.83%
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 0.92
Sharpe Ratio 0.53
Standard Deviation 3.68

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index