Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 7.58 4.38 3.49 4.94 6.00
Fund with Sales Charge (%) (POP) 3.55 3.06 2.70 4.54 5.88
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.93
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 7.58 4.38 3.49 4.94 6.00
Fund with Sales Charge (%) (POP) 3.55 3.06 2.70 4.54 5.88
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.93

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

No chart available for this data.
Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold
No chart available for this data.
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 7.58 1.88
Fund with Sales Charge (%) (POP) 3.55 -2.45
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 0.24 7.58 7.58 13.74 18.69 61.90 616.32
Fund with Sales Charge (%) (POP) -3.52 3.55 3.55 9.47 14.24 55.83 589.46
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 599.36
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 0.24 7.58 7.58 13.74 18.69 61.90 616.32
Fund with Sales Charge (%) (POP) -3.52 3.55 3.55 9.47 14.24 55.83 589.46
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 599.36

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.25 3.17 4.41
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha 0.15 -0.02 -0.24
Beta 0.84 0.99 1.23
Sharpe Ratio 1.23 0.77 0.99
Information Ratio -0.35 -0.04 0.38
Tracking Error 0.94 1.02 1.57
R-Squared 0.85 0.90 0.90

ADDITIONAL RISK STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.82 0.93 1.19
Beta Bear 0.78 1.07 1.37
Bull Bear Capture Ratio 1.09 1.00 0.97
% of Positive Months 69.44 70.00 70.00
Gains/Losses 3.69 2.36 2.38
Maximum Drawdown
1.39 5.36 10.50

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 0.75%

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Beta 0.84
Sharpe Ratio 1.23
Standard Deviation 2.25

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index