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 09/01/1987
Fund without Sales Charge (%) (NAV) 7.57 2.34 3.06 3.73 5.52
Fund with Sales Charge (%) (POP) 3.53 1.04 2.27 3.34 5.39
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.57 2.34 3.06 3.73 5.52
Fund with Sales Charge (%) (POP) 3.53 1.04 2.27 3.34 5.39
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 7.57 2.33 3.06 3.73
Fund without Sales Charge (%) (NAV) After Shares Sold 5.79 2.54 3.16 3.76
Fund with Sales Charge (%) (POP) Before Shares Sold 3.53 1.04 2.27 3.34
Fund with Sales Charge (%) (POP) After Shares Sold 3.35 1.53 2.53 3.43
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.57 2.33 3.06 3.73
Fund without Sales Charge (%) (NAV) After Shares Sold 5.79 2.54 3.16 3.76
Fund with Sales Charge (%) (POP) Before Shares Sold 3.53 1.04 2.27 3.34
Fund with Sales Charge (%) (POP) After Shares Sold 3.35 1.53 2.53 3.43

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.04
Fund with Sales Charge (%) (POP) -3.25
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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.84 6.24 7.57 7.17 16.26 44.29 459.90
Fund with Sales Charge (%) (POP) -1.98 2.25 3.53 3.15 11.90 38.88 438.90
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.84 6.24 7.57 7.17 16.26 44.29 459.90
Fund with Sales Charge (%) (POP) -1.98 2.25 3.53 3.15 11.90 38.88 438.90
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.80 2.59 3.86
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.61 -0.11 -0.70
Beta 0.78 0.81 1.07
Sharpe Ratio 0.35 0.75 0.88
Information Ratio -1.04 -0.60 -0.38
Tracking Error 1.03 1.04 1.25
R-Squared 0.93 0.89 0.90

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

3 YR 5 YR 10 YR
Beta Bull 0.87 0.87 1.12
Beta Bear 0.71 0.73 1.09
Bull Bear Capture Ratio 0.91 1.00 0.89
% of Positive Months 63.89 66.67 68.33
Gains/Losses 1.96 2.34 2.23
Maximum Drawdown
1.38 3.67 8.99

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

Gross Expense Ratio 0.84%
Net Expense Ratio [further-information] 0.84%
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 0.78
Sharpe Ratio 0.35
Standard Deviation 2.80

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index