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 03/18/1986
Fund without Sales Charge (%) (NAV) 7.95 2.67 3.81 4.80 6.04
Fund with Sales Charge (%) (POP) 3.90 1.37 3.02 4.40 5.92
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 03/18/1986
Fund without Sales Charge (%) (NAV) 7.95 2.67 3.81 4.80 6.04
Fund with Sales Charge (%) (POP) 3.90 1.37 3.02 4.40 5.92
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.95

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 7.95 2.67 3.81 4.80
Fund without Sales Charge (%) (NAV) After Shares Sold 6.55 3.04 3.93 4.78
Fund with Sales Charge (%) (POP) Before Shares Sold 3.90 1.37 3.02 4.40
Fund with Sales Charge (%) (POP) After Shares Sold 4.09 2.02 3.30 4.44
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.95 2.67 3.81 4.80
Fund without Sales Charge (%) (NAV) After Shares Sold 6.55 3.04 3.93 4.78
Fund with Sales Charge (%) (POP) Before Shares Sold 3.90 1.37 3.02 4.40
Fund with Sales Charge (%) (POP) After Shares Sold 4.09 2.02 3.30 4.44

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.88
Fund with Sales Charge (%) (POP) -2.45
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 03/18/1986
Fund without Sales Charge (%) (NAV) 1.75 7.33 7.95 8.22 20.57 59.84 614.61
Fund with Sales Charge (%) (POP) -2.06 3.30 3.90 4.17 16.04 53.84 587.81
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 1.75 7.33 7.95 8.22 20.57 59.84 614.61
Fund with Sales Charge (%) (POP) -2.06 3.30 3.90 4.17 16.04 53.84 587.81
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 594.25

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.42 3.18 4.42
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.52 0.13 -0.25
Beta 0.95 0.99 1.22
Sharpe Ratio 0.41 0.84 1.01
Information Ratio -0.63 0.11 0.37
Tracking Error 1.02 1.03 1.61
R-Squared 0.91 0.90 0.90

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

3 YR 5 YR 10 YR
Beta Bull 0.77 0.91 1.18
Beta Bear 1.15 1.07 1.37
Bull Bear Capture Ratio 0.93 1.03 0.97
% of Positive Months 66.67 70.00 69.17
Gains/Losses 2.00 2.43 2.40
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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.95
Sharpe Ratio 0.41
Standard Deviation 3.42

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index