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) 8.00 2.90 3.53 3.78 5.75
Fund with Sales Charge (%) (POP) 3.95 1.60 2.74 3.38 5.64
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) 8.00 2.90 3.53 3.78 5.75
Fund with Sales Charge (%) (POP) 3.95 1.60 2.74 3.38 5.64
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 8.00 2.90 3.53 3.78
Fund without Sales Charge (%) (NAV) After Shares Sold 5.95 2.91 3.45 3.73
Fund with Sales Charge (%) (POP) Before Shares Sold 3.95 1.60 2.74 3.38
Fund with Sales Charge (%) (POP) After Shares Sold 3.50 1.90 2.82 3.40
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.00 2.90 3.53 3.78
Fund without Sales Charge (%) (NAV) After Shares Sold 5.95 2.91 3.45 3.73
Fund with Sales Charge (%) (POP) Before Shares Sold 3.95 1.60 2.74 3.38
Fund with Sales Charge (%) (POP) After Shares Sold 3.50 1.90 2.82 3.40

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.68
Fund with Sales Charge (%) (POP) -3.59
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) 1.55 6.18 8.00 8.96 18.92 44.87 588.80
Fund with Sales Charge (%) (POP) -2.25 2.20 3.95 4.87 14.46 39.44 562.97
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) 1.55 6.18 8.00 8.96 18.92 44.87 588.80
Fund with Sales Charge (%) (POP) -2.25 2.20 3.95 4.87 14.46 39.44 562.97
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) 2.97 2.75 3.75
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.21 0.09 -0.66
Beta 0.85 0.89 1.06
Sharpe Ratio 0.52 0.86 0.91
Information Ratio -0.74 -0.28 -0.48
Tracking Error 0.70 0.67 0.93
R-Squared 0.97 0.96 0.94

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

3 YR 5 YR 10 YR
Beta Bull 0.93 0.99 1.13
Beta Bear 0.76 0.76 1.01
Bull Bear Capture Ratio 0.97 1.03 0.89
% of Positive Months 69.44 70.00 70.00
Gains/Losses 2.16 2.51 2.26
Maximum Drawdown
1.68 3.99 8.66

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

Gross Expense Ratio 0.80%
Net Expense Ratio [further-information] 0.80%
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 0.52
Standard Deviation 2.97

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index