Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.39 3.32 2.54 3.82 5.31
Fund with Sales Charge (%) (POP) -0.49 2.01 1.76 3.43 5.19
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.39 3.32 2.54 3.82 5.31
Fund with Sales Charge (%) (POP) -0.49 2.01 1.76 3.43 5.19

After-Tax Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.39 3.32 2.54 3.82
Fund without Sales Charge (%) (NAV) After Shares Sold 3.18 3.29 2.72 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold -0.49 2.01 1.76 3.43
Fund with Sales Charge (%) (POP) After Shares Sold 0.84 2.27 2.10 3.50
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.39 3.32 2.54 3.82
Fund without Sales Charge (%) (NAV) After Shares Sold 3.18 3.29 2.72 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold -0.49 2.01 1.76 3.43
Fund with Sales Charge (%) (POP) After Shares Sold 0.84 2.27 2.10 3.50

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 6.84 0.86
Fund with Sales Charge (%) (POP) 2.84 -2.92
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -0.74 -0.74 3.39 10.30 13.36 45.54 440.33
Fund with Sales Charge (%) (POP) -4.46 -4.46 -0.49 6.17 9.11 40.08 420.07
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -0.74 -0.74 3.39 10.30 13.36 45.54 440.33
Fund with Sales Charge (%) (POP) -4.46 -4.46 -0.49 6.17 9.11 40.08 420.07

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.40 3.21 4.06
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.48 3.48 3.68
Alpha -0.52 -0.42 -0.53
Beta 0.96 0.89 1.07
Sharpe Ratio 0.48 0.45 0.80
Information Ratio -1.05 -0.77 -0.30
Tracking Error 0.60 0.84 1.08
R-Squared 0.97 0.94 0.93

ADDITIONAL RISK STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.94 0.91 1.12
Beta Bear 1.10 0.92 1.07
Bull Bear Capture Ratio 0.94 0.93 0.92
Gains/Losses 2.20 1.93 2.10

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

Gross Expense Ratio 0.81%
Net Expense Ratio [further-information] 0.81%
Max Initial Sales Charge 3.75%
CDSC 1.00%

Volatility Measures [further-information] As of 03/31/2020 Updated Monthly, based on a 3-year period

Beta 0.96
Sharpe Ratio 0.48
Standard Deviation 3.40

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index