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) 6.96 1.95 2.73 3.56 5.41
Fund with Sales Charge (%) (POP) 2.95 0.66 1.95 3.17 5.29
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) 6.96 1.95 2.73 3.56 5.41
Fund with Sales Charge (%) (POP) 2.95 0.66 1.95 3.17 5.29
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 6.96 1.95 2.73 3.56
Fund without Sales Charge (%) (NAV) After Shares Sold 5.45 2.24 2.88 3.60
Fund with Sales Charge (%) (POP) Before Shares Sold 2.95 0.66 1.95 3.17
Fund with Sales Charge (%) (POP) After Shares Sold 3.03 1.24 2.26 3.27
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.96 1.95 2.73 3.56
Fund without Sales Charge (%) (NAV) After Shares Sold 5.45 2.24 2.88 3.60
Fund with Sales Charge (%) (POP) Before Shares Sold 2.95 0.66 1.95 3.17
Fund with Sales Charge (%) (POP) After Shares Sold 3.03 1.24 2.26 3.27

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.53
Fund with Sales Charge (%) (POP) -3.75
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) 1.39 5.74 6.96 5.96 14.41 41.90 442.71
Fund with Sales Charge (%) (POP) -2.41 1.78 2.95 1.98 10.12 36.58 422.36
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) 1.39 5.74 6.96 5.96 14.41 41.90 442.71
Fund with Sales Charge (%) (POP) -2.41 1.78 2.95 1.98 10.12 36.58 422.36
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) 2.68 2.54 3.75
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.94 -0.43 -0.78
Beta 0.75 0.80 1.05
Sharpe Ratio 0.22 0.64 0.87
Information Ratio -1.44 -1.01 -0.57
Tracking Error 1.02 0.95 1.09
R-Squared 0.95 0.92 0.92

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

3 YR 5 YR 10 YR
Beta Bull 0.78 0.85 1.09
Beta Bear 0.68 0.70 1.05
Bull Bear Capture Ratio 0.83 0.90 0.87
% of Positive Months 66.67 71.67 70.83
Gains/Losses 1.83 2.17 2.19
Maximum Drawdown
1.38 3.61 9.03

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

Gross Expense Ratio 0.87%
Net Expense Ratio [further-information] 0.87%
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 0.75
Sharpe Ratio 0.22
Standard Deviation 2.68

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index